Whether the recent surge in copper prices suddenly make copper terminal companies by surprise? SMM It is understood that the cost of cable companies uplift caused some corporate earnings compressed, and some intermediate processors of copper rod business has therefore been liquidated, even more shocking is that cable companies will then sell the finished product back to the copper plant. But overall, as companies adopted various countermeasures, cable companies have been hit much.
Copper prices rose birth grimace
1, the cable and then sell the finished stripping copper Enterprises:
It SMM understood that, because copper prices pulled up sharply, causing some cable companies produce finished goods inventory increase, leading cable companies will be part of the industry appears finished and then sold to scrap copper wire stripping corporate profits thus obtained more than direct sales of finished .
2, copper rod business is breach of contract rate rise
Due to the recent rally in copper cable companies make terminal under more cost pressure, especially the part of the cable manufacturer's product prices are mostly locked in advance.There are copper rods companies said that cable companies have recently when its breach of contract, an adverse effect on the part of the copper rod business. But it is understood, because the maintenance of long-term credit transactions, default minority enterprises.
3, refined copper scrap spreads widening use ratio rises
In addition, due to the recent copper prices pulled, refined copper spreads widening sharply, according to SMM statistics, November 15 the average price of refined copper spreads up to 3371 yuan / ton, for the January 2011 highs.
Section copper rod manufacturers use raw materials, used in a proportion of copper has increased, partly refined copper rod production companies, said copper rod-making enterprises increased their market share in the near future have a certain impact.
Trump to scrap Nasa climate research in crackdown on ‘politicized science’
Nasa’s Earth science division is set to be stripped of funding as the president-elect seeks to shift focus away from home in favor of deep space exploration.
Bob Walker, a senior Trump campaign adviser, said there was no need for Nasa to do what he has previously described as “politically correct environmental monitoring”.
“We see Nasa in an exploration role, in deep space research,” Walker told the Guardian. “Earth-centric science is better placed at other agencies where it is their prime mission.
“My guess is that it would be difficult to stop all ongoing Nasa programs but future programs should definitely be placed with other agencies. I believe that climate research is necessary but it has been heavily politicized, which has undermined a lot of the work that researchers have been doing. Mr Trump’s decisions will be based upon solid science, not politicized science.”TRUMP: HIS OWN WORDS VERBATIM:
French President Francois Hollande on Tuesday urged the United States to respect the "irreversible" Paris Agreement on climate change, and said France will lead a dialogue on the topic with President-elect Donald Trump "on behalf of the 100 countries that have ratified" the deal.
Speaking to a U.N. climate conference in Morocco, Hollande praised U.S. President Barack Obama for his role in getting the landmark pact adopted in the French capital last year.
"The United States, the most powerful economy in the world, the second-largest emitter of greenhouse gases, must respect the commitments that were made," he said. "It's not simply their duty, it's in their interest."
In the early days of e-commerce, retailers would carry inventory for each product listed on their website. However, in today's model many retailers never physically touch the products they sell online. Instead, online orders for these products are routed to a third party for fulfilment. Both third-party logistics providers and niche e-commerce fulfilment houses offer services in which they will pack and ship items on behalf of retailers.
However, the study, performed by CE Delft, a group of consultants in the Netherlands, concluded that the global refining industry will be able to meet increased demand for middle distillates in the marine sector. With its decision, the IMO has now eliminated the uncertainty with respect to the timing of the implementation of the new sulphur regulations. However, question marks remain on the actual impact on the oil and tanker markets.
Shipowners have two fundamental options on how to deal with the new emissions cap: (1) Burning low sulphur fuel (maximum 0.5% sulphur) or (2) installing Exhaust Gas Cleaning Systems (often called scrubbers), which will allow vessels to continue using high sulphur fuel oil. Existing engines can typically burn low sulphur fuel oil, either lighter gas oil or low sulphur heavy fuel oil, without significant modifications. The use of LNG is also an option but, since using this fuel will require significant modifications to existing vessels, including the installation of separate fuel tanks, LNG is only a viable option for newbuilding tonnage. At the moment, the lack of availability of LNG bunkering facilities worldwide is also a limiting factor, especially for ships involved in tramp shipping such as tankers.
The sulphur cap creates an interesting dilemma for both ship owners and refiners. Shipowners have to decide whether to install scrubbers at an estimated cost of $3m to $6m, depending on the vessel size and design, or to burn higher cost low sulphur fuel. The payback period for a scrubber investment will be relatively short if the price differential between high sulphur and low sulphur fuel remains high or increases. The spread will be high if there is limited demand for heavy fuel oil (HFO), which happens if not many owners install scrubbers and/or refiners do not convert significant volumes of residual fuel oil into lower sulphur products.
For refiners, a similar dynamic applies; they have to decide whether to modify their facilities to reduce residual fuel oil output, as the value of this commodity will drop when demand declines. Less sophisticated refineries could reduce the sulphur content in their output by increasing the use of low sulphur crude grades, but such crudes will likely increase in price.
Currently, global residual fuel demand is about 7.3m barrels per day (Mb/d). The IEA estimated that, in 2014, marine bunker demand accounted for 43% (~3.3 Mb/d) of global residual fuel oil demand. In their market outlook published earlier this year, IEA forecasts that in 2020, about 2 Mb/d of marine HFO demand will convert to MGO.