Posted: August 30th, 2014 | Author: Pascal Blanc | Filed under: China, Commodities, Indonesia, Metals, Nickel, Zinc | Tags: nicjel indonesia, nickel china, nickel price rise, zinc china, zinc indonesia, zinc price rsie | No Comments »
“Global 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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Posted: August 29th, 2014 | Author: Pascal Blanc | Filed under: Australia, China, Commodities, Iron ore, Metals, Steel | Tags: iron ore, iron ore australia, iron ore china, iron ore global glut, iron ore glut, iron ore producer | No Comments »
Iron 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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Posted: August 28th, 2014 | Author: Pascal Blanc | Filed under: Aluminum, China, Commodities, Italy, Metals, USA | Tags: aluminum, aluminum automotive, aluminum market, aluminum supply | No Comments »
Aluminum 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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Posted: August 27th, 2014 | Author: Rod Sherkin | Filed under: Best practices, Gem, Negotiating with Suppliers, What's Happening in Our Profession | Tags: buyers, negotiation, negotiation tactics, steel, supplier | No Comments »
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.
Posted: August 27th, 2014 | Author: Pascal Blanc | Filed under: Labor | Tags: labor, labor benefit, labor cost, labor cost comparison, labor wage | No Comments »
This 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.
Read the rest of Labor costs per employee international comparison » » »
Posted: August 26th, 2014 | Author: Pascal Blanc | Filed under: China, Commodities, Copper, Metals, USA | Tags: copper china, copper cycle, copper economic stimulus, copper market, copper usa | No Comments »
Copper 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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Posted: August 22nd, 2014 | Author: Rod Sherkin | Filed under: Gem, What's Happening in Our Profession | Tags: best practice, negotiation, propurchaser, savings, supplier | No Comments »
It’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.
Posted: August 22nd, 2014 | Author: Pascal Blanc | Filed under: Commodities, El Niño, Food, Malaysia, Palm oil, Soybaens | Tags: el nino palm oil, palm oil, palm oil malaysia, palm oil price, palm oil soybean | No Comments »
“The 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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Posted: August 21st, 2014 | Author: Pascal Blanc | Filed under: Commodities, Food, Soybaens, USA | Tags: palm oil soybean, soybean, soybean price, soybean usda | No Comments »
The USDA has projected domestic 2014-2015 soybean production at a record-high 3.816 billion bushels, with a strong estimated yield of 45.4 bushels/harvested acre, according to the latest monthly World Agricultural Supply and Demand and Estimate report, released August 12.
Chicago Board of Trade September soybean oil futures Tuesday settled down 30 points to 32.66 cents/lb, the lowest front-month settle since July 2009, when it was at 32.58 cents/lb.
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Posted: August 17th, 2014 | Author: Rod Sherkin | Filed under: Best practices, Gem, Negotiating with Suppliers, What's Happening in Our Profession | Tags: best practice, cost reduction, cost saving, negotiation, supplier | No Comments »
I once had a very smart boss whose favorite expression was “Fish where the big fish are!”
So where do the “big fish” lurk for reducing costs for the products and services we purchase – in better pricing, in longer terms, in faster order processing, in speedier delivery? All important yes, but in my experience they are not the trophy-fish.
The best cost-savings opportunities are to be found in your suppliers’ organizations: knowledge and ideas inside the heads of their managers, engineers, operations and planning staff.
via Negotiating Nugget on Propurchaser.