Molson Coors Beverage Company reported a USD 30 million unfavourable impact from Midwest Premium pricing in the third quarter, adding to inflationary pressures across materials, logistics and manufacturing expenses. The brewing company also reported lower-than-expected revenue and reduced its full-year financial outlook, sending its shares down 3.36 per cent in pre-market trading on Thursday. The company reported net sales of USD 2.93 billion for the third quarter, falling short of analysts' expectations of USD 2.94 billion. Revenue declined 1.6 per cent compared with the corresponding period last year, while sales decreased 1.2 per cent on a constant currency basis. The decline was primarily driven by a 3.0 per cent fall in financial volume, partly offset by favourable pricing and sales...
Iran is expanding its domestic aluminium manufacturing capabilities through nanostructured anodising technology, developing specialised aluminium sheets and profiles for applications across aerospace, medical equipment, electronics and automotive industries. The initiative reflects a move towards higher-value aluminium products by improving the metal's surface properties and expanding its potential industrial applications. According to Pars Today, citing Mehr News Agency, an Iranian aluminium complex is using the technology to produce aluminium components with nanostructured ceramic coatings designed to improve resistance to corrosion and wear. The complex is also working on developing specialised aluminium standards and has so far established eight standards in this field. The...
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Constellium SE, a global manufacturer of aluminium rolled products, extruded products and structural parts, has teamed with Project MFG, which brings together employers, educators and communities that strive to inspire and equip the next generation of highly skilled trade professionals. In the partnership, Constellium will supply aluminium plates Alplan® for the manufacture of complex pieces in the project and also provide engineering staff to support the students. Alplan® is widely recognised as the most stable aluminium currently available to the machining industry for precision manufacturing. Participants in the project gain access to the latest technology and personal guidance from industry experts in materials, welding, CNC 5 Axis, metrology, and CAD/CAM. During the live action...
DUBAL Holding has acquired 60% stake in UAE’s aluminium extrusion company OSE Industries. The acquisition will help OSE to grow its business rapidly in the UAE as well as overseas. Established in 2012 as a family run business, OSE, established in 2012, produces Multiport Extrusion Tubes, MPE Tubes, and Precision Tubes for automotive, HVAC and solar sectors. OSE’s specialised products will see increased in demand from the steadily evolving Electrical Vehicle Manufacturers and the use of aluminium rolled tubes by the Heating, Ventilation & Air Conditioning, HVAC, sector. Ahmad Bin Fahad, Acting CEO of DUBAL Holding and Othman Sharif, the President and Chairman of OSE signed the deal on 30th November 2020. DUBAL Holding, established in 2014, has portfolio of assets including a 50 percent...
Vedanta Limited has reduced the prices of its aluminium ingot and aluminium product with effect from Tuesday, December 8, following a hike last week on December 2. Vedanta has cut its aluminium ingot price by INR 2,750 per tonne or 1.62 per cent from INR 170,000-183,000 per tonne to INR 167,250-180,250 per tonne. With the latest hike, Vedanta’s aluminium wire rod price has come in at INR 174,750-182,250 per tonne, down by INR 2,750 per tonne from INR 177,500-185,000 per tonne on December 2. Vedanta’s aluminium billets price is standing at INR 175,250 per tonne versus INR 178,000 per tonne last week. Vedanta links the prices of its aluminium ingot and aluminium products to the three-month futures of aluminium on the London Metal Exchange, which started decreasing from December 3 from US$...
The economy of Costa Rica is expected to shrink 5% by end of this year, as the country is hit hard by COVID-19 outbreak and the central bank stated it as the steepest decline since 1982 for the Central American nation. Costa Rica’s export of aluminium scrap during 2018-19 has been recorded at 18,178 tonnes and the earnings generated about the import remained at $6.76 million. The export of 2020 will be reaching at 15,507 tonnes and earnings to stand at $7.87 million. However, when the export volume and earnings of 2020 get assorted with the existing two years, it denotes 33,685 tonnes and $14.63 million respectively. The Central American nation’s export of aluminium scrap in 2018 stood at 6963 tonnes and the earnings accounted for remained at $2.64 million only, whereas, in 2019 the...
Cornell Dubilier Electronics, Inc. (CDE), dedicated to advancing capacitor technology for new applications, has announced the launch of new Flat Aluminium Electrolytic Capacitors. The NHR Series are designed to operate at operating temperatures of–55 °C to 150 °C. These capacitors come with 3,000-hour life and can withstand up to 80g vibration. This series are ideal for military, aerospace, industrial, and down-hole applications. “Our NHR Flatpack technology offers exceedingly long life at high temperature for critical applications that previously have been the domain of wet-tantalum capacitors,” said Mario DiPietro, Product Manager for Cornell Dubilier. “Their high-capacitance density at high voltage and temperature solves many of the problems faced by engineers designing circuits for...
In the recent aluminium tariff “trade war” between the US and Canada, the common beer became a sign of the entire fiasco. It commenced on 6 th August when the US announced a 10% tariff on aluminium from Canada. However, this was the second time in three years that such a tariff had been imposed by the US, with the Trump administration claiming that Canada had immorally increased its exports and become a “threat to US national security.” The owner of a small Ottawa brewery, said: “As It Happens that the tariff was costing his company an extra two cents for every can because no beer cans are manufactured in Canada. Statistics Canada data from 2018 shows that Canada imports more than two billion beer cans annually.” “So we brew our own beer, we smelt the aluminium, but we import the beer...
Hindalco Industries Limited has cut its aluminium ingot and aluminium product prices with effect from Tuesday, December 8, in line with the decline in global aluminium benchmark price on the London Metal Exchange since December 3. With the latest cut, Hindalco's aluminium ingot price has come in at INR 170,250 per tonne, down by INR 2,750 per tonne from INR 173,000 per tonne on December 2. Hindalco’s aluminium product price cut on December 8 has pulled down the price of aluminium wire rod by INR 2,750 per tonne as well. So, the price is now hovering at INR 181,350 per tonne against INR 184,100 per tonne on December 2. The company is currently selling its aluminium billets at INR 177,350 per tonne, also down by INR 2,750 per tonne from INR 180,100 per tonne. The three-month futures of...
Aluminium Bahrain (Alba) has completed a major safety milestone of 5 million working-hours without Lost Time Injury (LTI) across its operations on 07 December 2020. The company this year received five awards, including National Safety Council awards, International Safety Award with Merit from British Safety Council and Gold Medal Health and Safety Award from the Royal Society for the Prevention of Accidents (RoSPA). Alba’s Chief Executive Officer Ali Al Baqali said: “Our ability to be resilient has helped us to emerge collectively - employees and contractors - stronger than before. As we continue to grow as a Company, we also seek to continuously improve our Safety performance. At the end of the day, what really matters is the Safety of our workforce.” Alba was one of the few smelters in...
On Monday, December 7, Century Aluminum of South Carolina (CASC), a wholly-owned subsidiary of Century Aluminum Company, announced that it entered a preliminary agreement with Santee Cooper (South Carolina Public Service Authority) for a new, three-year power contract for Mt. Holly smelter. According to the contract, Santee Cooper is expected to provide a minimum 290MW of electric power to allow the smelter to increase its current production by 50 per cent. Century Aluminum is reportedly planning to add one-half of one potline to its current operation to bring up the total production to 75 per cent of Mt. Holly’s full capacity. Both Century Aluminum and Santee Cooper have agreed to extend the current contract by three months, which was previously set to expire on December 31, 2020, until...
Dr Matheus Tunes in support with Microscopes and Ion Accelerators for Materials Investigations researched a new alloy that will toughen aluminium without increasing its weight materially. The spacecraft which are blast-off from earth requires being light; however, it still needs the précised amount of fuel to reach the orbit. If it is bulky, the amount of fuel required would be restrictive. Once a spacecraft is outside of the earth’s protective magnetic field, it may then be exposed to potentially destructive amounts of solar radiation, which becomes more important for any long-duration mission such as to Mars. Now developing spacecraft from aluminium is one solution as aluminium is a light yet strong material. Alloys enhance aluminium become harder via precipitation strengthening, but...
As updated by Shanghai Metals Market, average spot alumina price in China has registered a hike after three days of restraint. The price has marked an increase of RMB 11 per tonne to stand at RMB 2303 per tonne on Tuesday, 08 December 2020. The prices of alumina in Shandong, Henan and Shanxi China markets have risen by RMB 10 per tonne, RMB 15 per tonne and RMB 15 per tonne to stand at RMB 2290 per tonne, RMB 2310 per tonne and RMB 2310 per tonne on Tuesday, 08 December 2020. Alumina prices in Guizhou and Guangxi have dropped by RMB 10 per tonne and RMB 5 per tonne to RMB 2275 per tonne and RMB 2270 per tonne. Australian alumina FOB price stands at USD 292.5 per tonne. This registers an increase of USD 8 per tonne. A00 aluminium ingot price remains unchanged at RMB 16500 per tonne on...
The LME complex ended mixed on Monday, with aluminium fell 1.37 per cent. Benchmark aluminium price on the London Metal Exchange plunged by 1.16 per cent on Monday, December 7. Both LME aluminium cash (bid) price and LME official settlement price extended downfall from US$ 2027.50 per tonne on December 4 to US$ 2004 per tonne on December 7. 3-months bid price and 3-months offer price stood at US$ 2018.50 per tonne, declining by US$ 21.50 per tonne from US$ 2040 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 2046.50 per tonne. The LME aluminium opening stock decreased from 1353350 tonnes to 1350575 tonnes on December 7. Live Warrants hovered at 1155550 tonnes, while Cancelled Warrants at 195025 tonnes. LME aluminium 3-months Asian Reference Price stood at US$ 2016.50 per...
Tan Sri Chan Kong Choy has cropped up as the largest shareholder of aluminium extrusion firm P.A. Resources Bhd after acquiring a 10.18% stake in the group. The former Malaysian Transport Minister’s wholly-owned, Interlink Matrix (M) Sdn Bhd, acquired 228.38 million shares from P.A. Resources’ non-independent non-executive Chairman Datuk Ng Tong Hai. This delivered Chan Kong Choy an indirect interest of 10.18%, on top of his 0.04% direct holdings in the company. On 4 th December’20, the group said in a filing at Malaysian stock exchange: “The acquisition of shares was according to a share sale and purchase agreement entered into between Ng and Interlink Matrix on Nov 10, financed by a loan from Public Bank Bhd.” On 1 st December’20, the shares exchanged hands, leaving Ng with a total...
The year 2020, has been a year of happenings, a year full for negative trends starting from World War III rumours, Earthquakes, Cyclones, Locust attack, Bushfires, Worldwide economic downturn and the novel Coronavirus. The COVID-19 pandemic has alone been the biggest source of worry for people, claiming close to 1.54 million lives worldwide, and still going strong, even as the world struggles to come up with its vaccine. The hardest-hit segment from COVID-19 is the manufacturing sector. The lockdown that followed brought the manufacturing facilities to a standstill, derailing the entire global supply chain. Looking into this situation, AlCircle is launching “AlCircle Bridge” , an initiative to support owners of plant & machinery who are compelled to sell their assets but are finding it...
The United States aluminium crude metals and alloys imports from Canada extended decline in September 2020 by 54,000 tonnes or 26.34 per cent month-on-month to 151,000 tonnes, found the US Geological Survey data. In August, the United States imports from Canada stood at 205,000 tonnes, almost flat compared with 206,000 tonnes in July 2020. This brings the United States total aluminium crude metals and alloys imports from Canada in the third quarter of 2020 to 562,000 tonnes, down by 16.62 per cent Q-o-Q from 674,000 tonnes. On a year-on-year basis, the United States imports from Canada in September 2020 stood higher by over 1000 per cent from 12,300 tonnes. In the entire nine months of 2020, the United States aluminium crude metals and alloys imports from Canada stood at 1.83 million...
Aluminium plate, sheet and strip consumption in China’s automotive sector looks optimistic in 2021. But in the construction sector, it may see a limited growth, said Man Xu, Senior Analyst in SMM, at the 2020 Nonferrous Metals Industry Chain Annual Conference in Suzhou on Friday, December 4. “Consumption for aluminium plate, sheet and strip from architectural decoration, transport, machinery equipment and packaging cans has the biggest market share. On the other hand, consumption from architectural decoration trended lower while from transport, mechanical equipment and packaging cans trended higher. Other sectors were stable,” Xu said. According to Xu, aluminium plate, sheet and strip consumption in the architectural decoration sector is likely to account for 26.04 per cent in 2020. In...
Latvia’s GDP is set to shrink by 4.3% in 2020, before growing by 2.4% in 2021 and 4.0% in 2022. Activity rose rapidly in the third quarter of 2020 after containment measures had been withdrawn. However, the recovery has been disrupted by the recent tightening of containment measures in response to a renewed virus outbreak and is projected to resume at a slow rate when the restraints are relaxed. The European nation on the Baltic has recorded 8543 tonnes of Aluminium Bar Rods and Profiles import during 2018-19, with the expenditure of $35.64 million. The import for 2020 is expected to reach at 4115 and expenditure to stand at $16.22 million. When the import volume and expenditure of 2020 gets summed with the preceding two years, it signifies 12,658 tonnes and $51.86 million respectively....
Hindalco Industries Limited intends to establish a 34,000-tonne aluminium extrusion plant in Silvassa with an investment of INR 730-crore. The new facility will meet the demand for extruded aluminium products in the western and southern regions. Commercial production at the facility is expected to begin in 24 months. Satish Pai, Managing Director, Hindalco Industries, said, “We are seeing a revival in the economy, with demand picking in the building and construction and automotive sectors. This has given us the confidence to move forward. The Silvassa facility will enable us to service our customers faster, with an offering of high-end quality aluminium products.” Pai said, “Over the next few years, as part of our downstream strategy, we intend to enhance our capacity from over 300,000...
