Posted: June 17th, 2013 | Author: Pascal Blanc | Filed under: Commodities, Rubber | Tags: rubber, rubber glut, rubber price, rubber production | No Comments »
Rubber fell 21 percent to 238.9 yen on the Tokyo Commodity Exchange this year and is now 55 percent below the record 535.7 yen reached in February 2011. Lower prices should reduce costs for Bridgestone Corp., Michelin & Cie. and Goodyear Tire & Rubber Co., the biggest tiremakers.
The surplus will expand 57 percent to 490,000 metric tons this year, enough to meet U.S. demand for six months, according to RCMA Commodities Asia Group, the Singapore-based company that has traded rubber for nine decades. Futures in Tokyo, a global benchmark, will drop at least another 5.8 percent to 225 yen a kilogram ($2,369 a ton) by the end of December, according to the median of 16 analyst estimates compiled by Bloomberg. Five anticipate 200 yen, a price last seen in 2009.
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Posted: June 14th, 2013 | Author: Rod Sherkin | Filed under: Plastics | Tags: ehtylene, ethylene price, ethylene production, styrene, styrene price | No Comments »
Bids for June material were climbing, seen on the HoustonMercantile Exchange as high as 57 cents/lb Mont Belvieu-Williams basis, up from 53-cent/lb levels earlier in the day. Spot ethylene was last assessed Wednesday at 52.75-53.25 cents/lb FD USG.
The US spot ethylene market was at a standstill Thursday on news of an explosion and fire at Williams’ olefins complex in Louisiana that killed one person earlier in the day, market sources said.
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Posted: June 13th, 2013 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Wheat | Tags: wheat, wheat export, wheat future, wheat price, wheat supply | No Comments »
Inventories of all wheat varieties as of June 1, 2014, will total 659 million bushels, the U.S. Department of Agriculture said today in a report. That’s more than the 655 million projected by analysts in a Bloomberg survey and less than the 670 million the government forecast in May. U.S. output will drop this year to 2.08 billion bushels, compared with last month’s prediction of 2.057 billion.
Wheat traded in Chicago, a global benchmark, fell about 10 percent this year on the outlook for rising production. The projected rebound follows drought in 2013 that hurt harvests in Russia, Ukraine, southern Europe and the U.S.
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Posted: June 5th, 2013 | Author: Rod Sherkin | Filed under: Steel | Tags: meps, steel, steel output, steel price, steel production, steel supply | No Comments »
Steel prices across the globe continued trending downwards in May. Selling figures declined in twenty four of the twenty eight nations in which MEPS conducts research. In the remaining four countries, transaction values were stable.
Excess steel supply and poor demand are expected to continue to exert negative pressure on prices in the short term. Moreover, input expenditure is likely to remain at a low level in the immediate future.
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Posted: June 1st, 2013 | Author: Rod Sherkin | Filed under: Lumber | Tags: lumber, lumber future, lumber market, lumber north america, lumber price, softwood lumber | No Comments »
Despite a resurgence in U.S. housing construction expected to boost lumber prices, a 21 per cent drop in the cash price since mid-March and lower future prices have prompted several analysts to trim about five per cent off their 2013 price forecasts.
Western SPF spruce-pine-fir softwood prices are now expected to increase 20 per cent, on top of the 16 per cent increase realized in 2012. RBC and CIBC now expect prices will average between US$350 and US$360 per thousand board feet in 2013, which is about $20 lower than earlier forecasts, but up from US$299 in 2012.
Analyst Paul Quinn of RBC Capital Markets maintained his outlook for 2014 at US$400, but lowered his price in 2013 to US$350, from US$370.He also reduced his forecasts for OSB oriented strand board and plywood.
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Posted: May 29th, 2013 | Author: Tom Bowers | Filed under: CSR in purchasing, Energy, Gem, Greening the Supply Chain, What's Happening in Our Profession | Tags: energy saving, storage | No Comments »
When considering the greening of any supply chain it is easy to ignore the impact of warehousing and distribution centres.
Transport miles are often shown to potential consumers, but what about the environmental cost of storage?
Understandably, the main focus in distribution centres is often the streamlining of the distribution process. This video of the Ocado distribution centre makes this optimisation geek very excited. But it is not difficult, and not necessarily expensive, to improve the green credentials of your warehousing. Read the rest of When Warehousing Goes Green » » »
Posted: May 25th, 2013 | Author: Rod Sherkin | Filed under: Food | Tags: coffee, coffee price, coffee supply | No Comments »
Arabica coffee prices settled at a 3½-year low on expectations of an onslaught of beans from top grower Brazil. Coffee for July delivery on the ICE Futures U.S. exchange fell 2.8 cents, or 2.2%, to $1.2725 a pound on Friday, the lowest settlement for the most actively traded contract since Oct. 1, 2009.
While prices have been falling for much of the year as global supplies have exceeded demand, the latest leg of the drop comes as farmers in Brazil are harvesting new coffee beans even as they haven’t finished selling last season’s supplies.
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Posted: May 25th, 2013 | Author: Rod Sherkin | Filed under: Lumber | Tags: lumber, lumber price | No Comments »
U.S. lumber futures fell nearly 2 percent on Friday, capping their deepest streak of losses in 1-1/2 years as a resurgence in the domestic housing market was overshadowed by plunging wood exports from the U.S. West Coast.
CME lumber for July delivery on Friday settled $5.80 lower at $297.40 per tbf, the lowest price since Oct. 24, and dipping below the threshold of $300 per thousand board feet for the first time since October.
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Posted: May 21st, 2013 | Author: Pascal Blanc | Filed under: Commodities, Gold, Metals, Precious metals, Silver | Tags: Gold, gold future, gold price, silver, silver future, silver price | No Comments »
Gold and silver futures got off to another rocky start to begin the trading week. Silver fell as low as $20.84 a troy ounce, the lowest since September 2010, later rebounding to close 3 per cent higher at $22.91 in New York trading.
The price of silver was the standout mover in financial markets Monday as it took a hammering for the second trading session in a row, even as stocks remained relatively solid amid hopes over the U.S. economy. Silver’s stumble also brought down the price of gold; the yellow metal hit a one-month low of $1,338.10 an ounce and extended its slump for an eighth straight day. Gold has fallen more than 7% in May.
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Posted: May 18th, 2013 | Author: Pascal Blanc | Filed under: Commodities, Copper, Metals | Tags: Copper, copper demand, copper future, copper price, metal, metal future | No Comments »
Copper is currently on the rebound, on the back of its third bearish cycle from February to April. Shanghai Cifco Futures Co. expects prices to climb until the end of June before pulling back to $6,037.50 per tonne by September.
Copper prices are up slightly in London, after inventories dropped to a seven-month low in China, the world’s biggest consumer of industrial metal, while U.S. consumer confidence rose to the highest since 2007. Three-month copper climbed 1.1 percent on Thursday to sit at $7,279 per tonne. Copper was seeing resistance at the $7.240 per tonne, but the day’s climb seems to have broken that barrier. Over in New York, copper futures were behaving much the same. Copper for July was up 0.9 percent at $3.2945 a pound.
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