The dollar fell slightly against most major currencies on Tuesday as a few reports showed that the U.S. economy is still deep in trouble.
The Institute for Supply Management said Tuesday that its overall index of manufacturing activity unexpectedly rose above 50for the first time in five months.
A reading above 50 indicates expansion. The data may signal that manufacturers are overproducing as production and inventory growth accelerated and new orders contracted.
The ISM index of prices manufacturers pay for raw materials hit 91.5 in June, up from 87 in May and the highest reading since 1979.
The Commerce Department reported that construction spending fell for the 11th time in May. Ford Motor said its U.S. sales tumbled 27.9 percent in June.
The euro bought 1.5793 dollars in late New York trading compared with 1.5751 dollars it bought late Monday. The British pound rose to 1.9944 dollars from 1.9936 dollars.
The dollar fell to 1.0195 Swiss francs from 1.0201 Swiss francs, and fell to 106.01 Japanese yen from 106.08 Japanese yen. It rose to 1.0230 Canadian dollars from 1.0177 Canadian dollars. ...
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Friday, July 04, 2008
[+/-] : The development process of domestic and international magnesium and application progress
The development process of magnesium
In 1775, the mankind discovered the compound of magnesium.
In 1886, Germany chases a magnesium application in the industrial realm first.
In 1909, Germany appeared a magnesium metal alloy 铸 piece first.
In 1916, American way house chemistry the company start producing an electrolysis magnesium.
1927~1930 years, the car of German production average each one uses 73.8 kilogram magnesium metal alloys.
1936~1940 years, the German public's car(Brazil) company produces of"shell insect" car of crankcase, spread to move a box of hull body total amount to use 40,000 ton magnesium metal alloys.
1948~1962 years, the United States adopts hot room to die-casting the millions piece magnesium of the machine gave birth to die-casting a piece to be provided for car to use.
70's in 20 centuries, the magnesium metal alloy material price ups, applying to get difficulty.
80's in 20 centuries, the noise of shouting mightiness of the car reducing in weight, the magnesium die-castings an application increment.
The mid 90's in 20 centuries, the magnesium yield increases greatly at first, price and aluminum are close by, die-castinging a craft technique an equipments perfect, the magnesium application turns into a mature stage, the development speed is unprecedented.
In 1991, the global car die-castings a piece 25,000 tons with the magnesium.
In 1995, the global car die-castings a piece 56,000 tons with the magnesium.
In 2000, the global car die-castings one to be close to 150,000 tons with the magnesium, having 80% that the global magnesium die-castings a piece....
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In 1775, the mankind discovered the compound of magnesium.
In 1886, Germany chases a magnesium application in the industrial realm first.
In 1909, Germany appeared a magnesium metal alloy 铸 piece first.
In 1916, American way house chemistry the company start producing an electrolysis magnesium.
1927~1930 years, the car of German production average each one uses 73.8 kilogram magnesium metal alloys.
1936~1940 years, the German public's car(Brazil) company produces of"shell insect" car of crankcase, spread to move a box of hull body total amount to use 40,000 ton magnesium metal alloys.
1948~1962 years, the United States adopts hot room to die-casting the millions piece magnesium of the machine gave birth to die-casting a piece to be provided for car to use.
70's in 20 centuries, the magnesium metal alloy material price ups, applying to get difficulty.
80's in 20 centuries, the noise of shouting mightiness of the car reducing in weight, the magnesium die-castings an application increment.
The mid 90's in 20 centuries, the magnesium yield increases greatly at first, price and aluminum are close by, die-castinging a craft technique an equipments perfect, the magnesium application turns into a mature stage, the development speed is unprecedented.
In 1991, the global car die-castings a piece 25,000 tons with the magnesium.
In 1995, the global car die-castings a piece 56,000 tons with the magnesium.
In 2000, the global car die-castings one to be close to 150,000 tons with the magnesium, having 80% that the global magnesium die-castings a piece....
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[+/-] : The magnesium metal alloy expansion application can lower car oil to consume to exhaust with tail spirit
A magnesium metal alloy from the United States expert predicts that from now on some years, each average car in the world, the magnesium metal alloy dosage will attain 120 kilograms, this will make the car reduce heavy 500 kilogramses, lowering car oil to consume thus and consumedly with the tail spirit exhaust quantity.Currently, the global magnesium metal alloy die-castings a piece growth rates to keep in 15% levels continuously for several years in the car, is current and the new industry is a little bit bright in the future.The carriage weight lowers 10%, oil's consuming can lower 6% to 8%, the fuel efficiency can raise 5.5%, the noise can also lower 2 decibels.Therefore, the magnesium metal alloy has ability to make car reducing in weight, the extension magnesium metal alloy will become solving a petroleum resources to lack to become one of the warm important solutions with global weather tightly in the application in the pileup.The Chinese car engineering masters reputation chairman of the board a piece a cheerful industry to say, our country is enhancing transportation economy energy to reduce a row management, control high consume oil, high pollution automobile development.Car and other applications that the pileup industry should extend magnesium metal alloy this high strength light metals material to carry out economy energy to reduce a row target.This becomes Chinese magnesium industry and industrial realization independent creative important opportunity of the car motorcycle, also is a graveness challenge....
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Thursday, July 03, 2008
[+/-] : European antimony market quiet but firm
Three weeks ago, Chinese suppliers reduced antimony ingot offers by about USD50-100/t, and the price kept stable since then.
Asianmetal(English) http://www.asianmetal.com 9J3L
A European trader told Asian Metal that he lost a deal when offered 99.65%min low bismuth antimony ingot at USD6,350/t CIF Rotterdam. "Market is very quiet, and it will remain quiet because summer holiday is already here."
The trader feels that it is difficult to get in touch with consumers now because the price is high, and consumers are not yet ready to accept the higher prices. "The offers we get from Chinese suppliers are at around USD6,300/t CIF Rotterdam, and the European consumers are asking at the same price, so there is no profit margin."
Another trader confirmed the price at around USD6,300/t CIF Rotterdam for 99.65%min low bismuth antimony ingot and USD6,200/t CIF Rotterdam for 99.65%min standard grade two antimony ingot. "Market is very quiet because of the high prices, and also the summer holiday."
Asianmetal(English) http://www.asianmetal.com 0XGS
The trader told Asian metal that many consumers are already on summer vacations, and the normal production will not be recovered until the end of August or beginning of September. "So antimony market is likely to keep quiet for the next two month," said the trader, who holds that the price is likely to drop slightly by the beginning of August....
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Asianmetal(English) http://www.asianmetal.com 9J3L
A European trader told Asian Metal that he lost a deal when offered 99.65%min low bismuth antimony ingot at USD6,350/t CIF Rotterdam. "Market is very quiet, and it will remain quiet because summer holiday is already here."
The trader feels that it is difficult to get in touch with consumers now because the price is high, and consumers are not yet ready to accept the higher prices. "The offers we get from Chinese suppliers are at around USD6,300/t CIF Rotterdam, and the European consumers are asking at the same price, so there is no profit margin."
Another trader confirmed the price at around USD6,300/t CIF Rotterdam for 99.65%min low bismuth antimony ingot and USD6,200/t CIF Rotterdam for 99.65%min standard grade two antimony ingot. "Market is very quiet because of the high prices, and also the summer holiday."
Asianmetal(English) http://www.asianmetal.com 0XGS
The trader told Asian metal that many consumers are already on summer vacations, and the normal production will not be recovered until the end of August or beginning of September. "So antimony market is likely to keep quiet for the next two month," said the trader, who holds that the price is likely to drop slightly by the beginning of August....
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Friday, June 27, 2008
[+/-] : China's Minmetals Devt to form mining JV with Oman's Muscat Overseas
Minmetals Development Co Ltd (SHA 600058), China's largest metals trading group, said its board has approved the establishment of a mining joint venture with Oman's Muscat Overseas Group.
In a statement filed with the Shanghai Stock Exchange, the company said registered capital of the venture will be 5.5 mln usd. It will focus on exploring for manganese in Oman.
Minmetals will hold 45 pct of the venture, while Muscat Overseas and a unit will hold 35 pct and 20 pct respectively, according to the statement.
The deal has been approved by the Ministry of Commerce and the State Administration of Foreign Exchange, it added. ...read more
[+/-] : Upgrades improve mineral production
AUSTRALIAN Zircon has reached a milestone in its Mindarie mineral production operation after spending two months improving the mechanics of its plant.
On 18 June 2008, the company dispatched its first full trainload of zircon and titanium minerals for export. Previously, the operation had only been able to dispatch partial trainloads.
According to the plant operator, it managed to significantly improve its mineral recovery processes because of a rampup in productivity.
The plant staff are said to have adapted to the improved operational techniques at the plant, and the facility had undergone mechanical improvements over two months.
The upgrades were required after the company encountered oversized ore feed. It claims the production facilities are now able to handle the oversized ore feed. It also expects growing production levels as further improvements to the facilities are made.read more
[+/-] : Toshiba in metals deal with Kazakhstan
Japan`s Toshiba Corp has agreed to expand its partnership with Kazakh state-owned company Kazatomprom to include rare metals and reactor components, in the latest move by a Japanese firm to secure raw materials in exchange for technical expertise.
The two sides will continue talks on how they can work together, and the result could be a capital tie-up, said a Toshiba official who asked not to be named. "We are not excluding any possibility," he said. "Kazakhstan has the resources. We have the knowledge on how to use those resources."
Rising raw material prices are prompting Japanese firms to seek strategic allies in resource-rich countries.
Kazatomprom holds 10% of Toshiba`s US-based Westinghouse nuclear power unit, and the agreement would follow a move by Toshiba last year to buy uranium rights to the Kharassan mine in southern Kazakhstan.
Japanese firms, heavily dependent on China for rare metals, have been wary of China`s moves earlier this year to raise export taxes on minor metals such as manganese, silicon and tantalum. Rare metals, such as beryllium, tantalum and hafnium, are used in products ranging from electronics devices to control rods in nuclear plants.
Securing a stable supply of such raw materials is essential for a company such as Toshiba, whose pillars of growth include semiconductors and its nuclear power business. – Mining Journal
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[+/-] : Indium eyes upside as LCD demand explodes
Most people could list a host of reasons why prices of computers, televisions and mobile phones are rising, but few would be able to pinpoint indium.
Having languished below $500 a kg for the first four months of the year, indium prices jumped more than 60 percent to $700 a kg at the start of June.
Prices have since slipped to about $650 a kg, but are expected to head higher and the chances of the silvery-white metal revisiting records above $1,000, possibly before the end of the year, are now much higher. Behind the rise are accelerating demand from the electronics industry for liquid crystal display and flat screens, stagnant supplies, the threat of strategic stockpiling in China and investment demand.
"There just isn't enough material to feed what is really quite a voracious LCD machine, which needs ever larger amounts of indium," said Douglas Hunter, a director at UK-based minor metals trading firm Wogen Resources.
"The flat panel industry is increasing production at 25 to 35 percent per annum."
A thin uniform film of indium-tin oxide on glass creates a unique optically transparent electrical conductor for LCDs.
To illustrate demand growth for LCDs, particularly in Asia ahead of the Beijing Olympics, is Korea's Samsung Electronics which is planning to invest 2.74 trillion won in a new LCD line with Japan's Sony.
Other examples include US-based Corning, the world's largest maker of glass for LCD screens, which recently said demand for LCD televisions and computer monitors had been unhurt by economic slowdown in the United States.
Research firm DisplaySearch in April forecast world sales of flat panels would jump by 21 percent in 2008 to reach $123 billion.
Traders say stockpiling by Chinese government to the tune of about 200 tonnes over coming months will trigger price gains.
Indium is a very small part of the cost--less than $3 for a large glass panel. The market at the moment is estimated to be balanced at around 1,300 tonnes.
"We'll eventually see a deficit, prices could head back towards the $1,000 level," said Brian O'Neill, indium materials manager at American Iron and Metal. "The underlying fundamentals are very strong. There is not enough primary production."
About 600 tonnes of total production is primary production, with the remainder coming from recycling.
Electronics applications are said to account for about 80 percent of demand and growing fast is the use of indium in the production of solar panels, which if sustained, would boost consumption significantly.
Simon Gardner-Bond, an analyst at Ocean Equities said the trend towards solar energy will not be slowed by weak global economic growth. "The more affluent consumers will still have the means to buy solar panels."
"You can quite confidently say indium supply is constrained, physically it cannot be ramped up," he said.
"There really isn't the capacity to produce enough indium, as it is a byproduct of zinc mining. Even a large increase in the indium price is not justification enough for most producers to ramp up zinc output just to produce more indium."
Expectations of zinc surpluses and lower prices on the London Metal Exchange at $1,950 a tonne, less than half the levels seen in 2006, are expected to curb indium output.
A problem for supplies is China, the largest producer of primary indium, where export taxes of 15 percent, quotas and previously low prices meant many producers gave up production.
Some Japanese electronics companies eyeing their dwindling stocks are now in China trying to negotiate new contracts for long-term supplies, with little success because they are offering prices below the market, traders say.
The potential launch of a new fund, SMG Indium Resources, which has applied to the US Securities and Exchange Commission for a listing in the United States, could also hit supplies.
SMG said in its prospectus that the company was formed to buy and stockpile indium.
"Our strategy is to achieve long-term appreciation in the value of our indium stockpile," the company said. – Inquirer.net
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Friday, June 20, 2008
[+/-] : Some crude bismuth smelters raise quotations
20 Jun 08 – Some crude bismuth smelters raise their quotations this week, because they have received more inquiries recently, close sources reported.
A South China-based smelter with a monthly production capacity of around 30 tons concluded a seven-ton deal of bismuth 99.99%min at RMB155,000/t (USD10.22/lb) early this week, down from the last deal of RMB158,000/t (USD10.42/lb) last week. "It is difficult to make profits at present, because some crude bismuth smelters raised their quotations for bismuth 95%min to RMB128,000/t (USD8.37-8.44/lb) VAT excluded, up from RMB126,000/t (USD8.31/lb) VAT excluded," said the source.
Another South China-based trader with a monthly production capacity of around 40 tons concluded less than ten tons of bismuth 99.99%min at RMB158,000-160,000/t (USD10.42-10.55/lb) in the past two weeks.The source confirmed that some crude bismuth smelters raised their quotations for bismuth 95%min to RMB128,000-130,000/t (USD8.37-8.57/lb) VAT excluded this week, up from RMB125,000-126,000/t (USD8.24-8.31/lb) VAT excluded last week. "The reason is that export market becomes slightly active since the end of May and the beginning of June and crude bismuth smelters received more inquiries recently than in May," explained the source, adding, "However, the demand from domestic market remains weak." ...
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A South China-based smelter with a monthly production capacity of around 30 tons concluded a seven-ton deal of bismuth 99.99%min at RMB155,000/t (USD10.22/lb) early this week, down from the last deal of RMB158,000/t (USD10.42/lb) last week. "It is difficult to make profits at present, because some crude bismuth smelters raised their quotations for bismuth 95%min to RMB128,000/t (USD8.37-8.44/lb) VAT excluded, up from RMB126,000/t (USD8.31/lb) VAT excluded," said the source.
Another South China-based trader with a monthly production capacity of around 40 tons concluded less than ten tons of bismuth 99.99%min at RMB158,000-160,000/t (USD10.42-10.55/lb) in the past two weeks.The source confirmed that some crude bismuth smelters raised their quotations for bismuth 95%min to RMB128,000-130,000/t (USD8.37-8.57/lb) VAT excluded this week, up from RMB125,000-126,000/t (USD8.24-8.31/lb) VAT excluded last week. "The reason is that export market becomes slightly active since the end of May and the beginning of June and crude bismuth smelters received more inquiries recently than in May," explained the source, adding, "However, the demand from domestic market remains weak." ...
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[+/-] : Manganese market in low demand
20 Jun 08 - Manganese market is stagnant with most major buyers out of the market. Sources reported to Asian Metal that demand has been weak in both domestic and export markets. The manganese price falls to around RMB21,200/t (USD3,081/t) ex works and some suppliers are even underselling their stocks at lower prices.
A Hunan-based smelter who has already cut down one of the two production lines told Asian Metal that they received no inquiry from the downstream consumers. "Actually, manganese smelters have cut down their production due to the weak demand and the tight supply of raw materials, but manganese price keeps falling as few buyers are purchasing now." The source stopped quotation early this week but he claimed some suppliers are eager to empty their stocks and thus might lead to much lower prices than the current RMB21,200-21,400/t (USD3,081-3,110/t) ex works.
The source claimed the huge rainfall in large areas of south China has already resulted in roads blocked and the transportation of manganese ores is influenced. "Some smelters may be lack of raw materials and would cut down production further."
Another Hunan-based smelter who has kept huge stocks at hand halted production for maintenance. "The market is too low for us to continue normal prodution unless there are signed contracts to be fulfilled," said the source who puts current manganese price at RMB21,100-21,300/t (USD3,067-3,096/t) ex works. "We are not surprised if some suppliers lowered their price to below RMB21,000/t (USD3,052/t) ex works," said the source, claiming no buyer is in the market now.
Sources reported to Asian Metal that manganese demand would be lower in the summer days and more smelters would have to cut down production. However, some large players are still expanding their capacities to strengthen their competitive power....
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A Hunan-based smelter who has already cut down one of the two production lines told Asian Metal that they received no inquiry from the downstream consumers. "Actually, manganese smelters have cut down their production due to the weak demand and the tight supply of raw materials, but manganese price keeps falling as few buyers are purchasing now." The source stopped quotation early this week but he claimed some suppliers are eager to empty their stocks and thus might lead to much lower prices than the current RMB21,200-21,400/t (USD3,081-3,110/t) ex works.
The source claimed the huge rainfall in large areas of south China has already resulted in roads blocked and the transportation of manganese ores is influenced. "Some smelters may be lack of raw materials and would cut down production further."
Another Hunan-based smelter who has kept huge stocks at hand halted production for maintenance. "The market is too low for us to continue normal prodution unless there are signed contracts to be fulfilled," said the source who puts current manganese price at RMB21,100-21,300/t (USD3,067-3,096/t) ex works. "We are not surprised if some suppliers lowered their price to below RMB21,000/t (USD3,052/t) ex works," said the source, claiming no buyer is in the market now.
Sources reported to Asian Metal that manganese demand would be lower in the summer days and more smelters would have to cut down production. However, some large players are still expanding their capacities to strengthen their competitive power....
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Examples of Antimony Trioxide Mixture Flame-Retarded Polymers
