Supply fear drives palladium to 13-year high

Posted: September 2nd, 2014 | Author: | Filed under: Commodities, Europe, Metals, Palladium, Precious metals, Russia, Ukraine, USA | Tags: , , , , | No Comments »

Palladium - Supply fearPalladium for immediate delivery added as much as 0.4 percent to $908.83 an ounce, and traded at $906 by 11:30 a.m. in Singapore, advancing for a fourth day, Bloomberg generic pricing show.

The metal climbed to $909.35 on Aug. 29, the highest since February 2001, and capped a seventh month of gains that was the longest streak since January 2011.

Tensions rose after Ukraine called for full membership in NATO, its strongest plea yet for Western military help after accusing Russia of sending in armored columns that have driven back its forces in support of pro-Moscow rebels.

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Greendex: Survey of Sustainable Consumption

Posted: September 1st, 2014 | Author: | Filed under: Best practices, Economic Indicators, Gem | Tags: | No Comments »

GreendexIf your business is expanding into new or facing competition in existing markets, can you benefit from enhancing your green credentials to meet consumer preferences?

Greening your supply chain could provide a competitive edge in markets where consumers are increasing concerned with environmental issues and making spending decisons based on those concerns.

Find what you can learn from the Greendex Survey.


Dramatic rise in Zinc and Nickel prices in 2015

Posted: August 30th, 2014 | Author: | Filed under: China, Commodities, Indonesia, Metals, Nickel, Zinc | Tags: , , , , , | No Comments »

Nickel Zinc 2015Global supply and demand conditions for refined zinc are in deficit in 2014,” Scotiabank economist Patricia Mohr reports in August’s Scotiabank Commodity Index . “For nickel, the world supply and demand balance will shift into a marked deficit in 2015, as China depletes its inventory of Indonesian ore production.”

Scotiabank’s Metal & Mineral Index rallied strong in July as base metal prices jumped higher across a broad front — “pushed up in part by exuberance over better-than-expected results for China’s economy”.

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Iron ore global glut deepens

Posted: August 29th, 2014 | Author: | Filed under: Australia, China, Commodities, Iron ore, Metals, Steel | Tags: , , , , , | No Comments »

Iron oreIron ore with 62 percent content at the Chinese port of Qingdao dropped 0.7 percent to $87.70 a dry ton today, the lowest since October 2009, according to data compiled by Metal Bulletin Ltd. The raw material fell for a ninth day in the worst run since September 2013.

Spot iron ore prices have fallen more than 34 percent this year. The rout, fuelled by excess supplies, has forced Chinese steel mills to resell some cargoes back to the market as global miners kept on ramping up output.

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Aluminum rises to 18-month high

Posted: August 28th, 2014 | Author: | Filed under: Aluminum, China, Commodities, Italy, Metals, USA | Tags: , , , | No Comments »

Aluminum canAluminum for delivery in three months climbed 1 percent to $2,083 a metric ton at 5:50 p.m. on the London Metal Exchange, after touching $2,100, the highest since February 2013. The LME was shut on Monday for a national holiday.

The U.S. economy grew 3.9 percent in the three months through June, according to a Bloomberg survey of economists before government data today. Orders for goods meant to last at least three years climbed by a record 22.6 percent in July, the Commerce Department said yesterday. Consumer confidence unexpectedly rose in August to the highest level in almost seven years, a separate index showed.

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Rack Up Savings

Posted: August 27th, 2014 | Author: | Filed under: Best practices, Gem, Negotiating with Suppliers, What's Happening in Our Profession | Tags: , , , , | No Comments »

Savings
Stan Hankowski, a seasoned Buyer with a major American retailer tells an intriguing story that shows how Purchasers can help themselves by helping their suppliers.

He went to market last year to buy steel racking. He expected higher prices because he’d been tracking steel costs and knew they had gone up sharply.

via Negotiating Nugget on Propurchaser.


Labor costs per employee international comparison

Posted: August 27th, 2014 | Author: | Filed under: Labor | Tags: , , , , | No Comments »

labor costThis great graphic was in a new report by KPMG “Competitive Alternatives Special Report: Focus on Tax“. It shows the labor costs of 10 large countries. Labor costs include wages and benefits. There are two parts of benefits, those that legally required and those that are not.

According to the table below, the US average wages are among the highest. The required benefits are the lowest, but the non-statutory benefits are the highest. This leaves total labor costs the second highest after Germany.

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Copper at a 2-week high in New York

Posted: August 26th, 2014 | Author: | Filed under: China, Commodities, Copper, Metals, USA | Tags: , , , , | No Comments »

Copper tubeCopper futures for December delivery rose 0.4 percent to settle at $3.237 a pound at 1:18 p.m. on the Comex in New York, after touching $3.246, the highest for a most-active contract since Aug. 11.

Copper rose to a two-week high in New York amid signs of a strengthening economic recovery in the U.S., the world’s second-biggest consumer of industrial metals and hopes for a potential stimulus package from China.

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Purchasers’ turn to shine

Posted: August 22nd, 2014 | Author: | Filed under: Gem, What's Happening in Our Profession | Tags: , , , , | No Comments »

LeadershipIt’s still quite scary out there: recession clouds are still lurking. Sales volumes are struggling to rise; unfortunately, costs are struggling less, as suppliers pile on price increases, citing higher raw material costs as the reason.

Call to action

What can Purchasers do?……plenty, by taking a leadership role in pushing back costs. Makes sense when you think about it. Your role is critical, since purchases typically represent the largest single source of cost savings for most organizations. Try this 3-step approach.

via Purchasers’ Turn to Shine on Propurchaser.


Palm oil prices slip to 5-year low

Posted: August 22nd, 2014 | Author: | Filed under: Commodities, El Niño, Food, Malaysia, Palm oil, Soybaens | Tags: , , , , | No Comments »

Palm OilThe overall vegetable oil sector is effectively swimming in supply, or will be swimming in supply by the time we get to the end of the year,” Singapore-based Gordon said in a phone interview. The most-active price on Bursa Malaysia Derivatives fell to RM2,045 yesterday, the lowest level since October 2009. It last traded below RM2,000 ($630) in March of that year.

Malaysian palm oil futures fell for a seventh-consecutive session to their lowest level in nearly five years on Thursday, with traders citing talk that major consumers in China and India had defaulted on cargoes and prospects of near-record U.S. soybean production weighed on the market.

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