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Colin Bennett

Illegal European scrap dealers cause fierce competition | Environment | Reuters - 0 views

www.reuters.com/...idUSL0272956620080602

shared by Colin Bennett on 02 Jun 08 - Cached
  • Colin Bennett on 02 Jun 08
     
    "The problem with illegal dealers is growing, it's enormous now because of high metal prices," said Bjorn Grufman, President of Eurometrec, the European federation of scrap dealers.
  • Colin Bennett on 02 Jun 08
     
    Trends
John Tomlinson

New Russian wirerod plant in Nizhni Novgorod - 0 views

https:

copper russia wire rod

shared by John Tomlinson on 06 Oct 08 - Cached
  • Panos Kotseras on 06 Oct 08
     
    Many Japanese scrap dealers have reduced their shipments to copper alloy fabricators by more than 20% in October due to falling demand. Copper fabricators have decreased their scrap purchasing volumes because of weaker semis output. A number of brass bar makers decreased their buying volume of brass turning scrap by more than 30% in October. From the supply side, copper scrap generation has been tight. Scrap availability has been falling since July and that has triggered competition between scrap dealers to maintain adequate levels of inventory, which resulted in a spike in the market price in September.
  • John Tomlinson on 06 Oct 08
     
    The Nizhni Novgorod Copper Company will invest around RUB800M (US$32M) in a copper wirerod plant in Dzerzhinsk, in the Nizhni Novgorod region of Russia. The plant is expected to have an annual capacity of 25,000t/y, and will use 26,000t/y of copper scrap. Commissioning is expected in late 2010.
Colin Bennett

New Copper Law Intended To Cool Off Air-Conditioner Thefts - 0 views

www2.tbo.com/...news-breaking

copper law theft trends

shared by Colin Bennett on 06 Oct 08 - Cached
  • Colin Bennett on 06 Oct 08
     
    State lawmakers had victims like Moore in mind when they passed legislation that requires scrap-metal dealers to keep track of people they buy copper from. The law went into effect this week.
Panos Kotseras

Italy - KME takes stake in second metal dealer - 0 views

communities.thomsonreuters.com/...298300

Italy KME metal dealer

shared by Panos Kotseras on 06 May 09 - Cached
  • Panos Kotseras on 06 May 09
     
    KME Group SpA, a leading copper and copper alloy semis maker based in Italy, will buy 30% of Sigimet SpA, an Italian ferrous and non-ferrous metals trader. The company also bought 30% of Italian scrap metals trader Metalbuyer in February. In both cases, KME holds the option to raise its share. Considering that the company relies on scrap for more than 50% of its metal input, the acquisitions will lead to a reduction in supply costs. The company said that the acquisitions will benefit industrial activity, however, the main objective was diversification rather than integration.
Panos Kotseras

Japan - Copper foil makers to raise scrap input - 0 views

www.japanmetalbulletin.com/...backnumber.html

Japan copper foil

shared by Panos Kotseras on 01 May 09 - Cached
  • Panos Kotseras on 01 May 09
     
    Electrodeposited copper foil manufacturers in Japan are to increase purchasing of copper scrap in May. Some dealers have already agreed to supply the increased quantity, however, scrap generation remains low due to the ongoing industrial and building construction slowdown. It has been reported that since the beginning of the year, Japanese copper foil makers have cut their copper scrap procurement by 50%. According to the new plans, copper foil producers intend to double copper scrap buying compared to January-April.
Colin Bennett

Time to show steel on metal theft - 0 views

www.ft.com/...b9-11e1-bbc5-00144feabdc0.html

trends copper Theft

shared by Colin Bennett on 01 Nov 11 - No Cached
  • Police cannot keep up. Short of a dramatic fall in commodity prices, the only option seems to be to amend the Scrap Metal Dealers Act 1964 to license dealers and ban them from dealing in cash.
Colin Bennett

Scrap price slump cools hot metal trade - 0 views

www.ft.com/...a6-11e4-a87e-00144feab7de.html

trends copper theft

shared by Colin Bennett on 30 Mar 15 - No Cached
  • Colin Bennett on 30 Mar 15
     
    "At the start of the decade, Network Rail was hit by a wave of cable thefts which approached 1,000 cases a year as the price of scrap copper and other industrial metals soared. New data show that thefts in England and Wales fell below 41,000 in the year 2013-14 - down from 60,000 in the previous 12 months. "In recent years, we have witnessed a huge reduction in the number of incidents of cable theft on the railway," said a Network Rail official. "Disruption caused by the crime has fallen tenfold since its peak in 2010-11, when passengers suffered more than 6,000 hours of delay." Raids on church roofs, to strip copper and lead sheeting - another traditional target for thieves seeking to supply unscrupulous metal dealers - have also subsided with the price of scrap. Other areas affected include telecommunications and power networks, road signs, memorials, libraries, schools and children's playgrounds."
Colin Bennett

Nexans CORE-TAG® anti-theft cable - 0 views

www.yourcableandwirenews.com/de+france+%28rff%29_31883.html

trends Copper Nexans theft

shared by Colin Bennett on 28 Nov 12 - No Cached
  • Usually when cable is stolen the insulation, which could be used to identify the owner, is burnt off the cable just leaving the copper conductor. In contrast to more complex and expensive tagging techniques such as those using rare earth elements, Nexans’ CORE-TAG® solution involves installing a coded fire-resistant copper tape that is intertwined in the conductor.The dot-matrix markings on the coded tape – typically identifying the owner (RFF in this case) – make it easy to trace the origins of the stolen copper when it is brought to a scrap dealer, even after the insulation has been burnt off.
Wade Ren

The end of Bretton Woods 2? - 0 views

blogs.cfr.org/...the-end-of-bretton-woods-2

2008-crisis economics

shared by Wade Ren on 29 Oct 08 - Cached
  • The Bretton Woods 2 system – where China and then the oil-exporters provided (subsidized) financing to the US to sustain their exports – will come close to ending, at least temporarily. If the US and Europe are not importing much, the rest of the world won’t be exporting much.
  • And rather than ending with a whimper, Bretton Woods 2 may end with a bang. In some sense Bretton Woods 2 has been on life support for a while now. China’s recent export growth has depended far more on Europe than on the US. US demand for non-oil imports peaked in 2006. One irony of the past year is that the US was borrowing far more from China that it was buying from China. Campaign rhetoric that the US was paying for Saudi oil with funds borrowed from China isn’t far off – though it leaves out the fact that the US also borrows from Saudi Arabia to pay for Venezuelan, Mexican and Nigerian oil.
  • If Bretton Woods 2 ends in 2009 – if US demand for imports falls sharply in the last part of 2008 and early 2009, bringing the US trade deficit down – it won’t have ended in the way Nouriel and I outlined back in late 2004 and early 2005. We postulated that foreign demand for US debt would dry up – pushing up US Treasury rates and delivering a nasty shock to a housing-centric economy. As Brad DeLong notes, it didn’t quite play out that way. The US and European banking system collapsed before the balance of financial terror collapsed. Dr. DeLong writes: All of us from Lawrence Summers to John Taylor were expecting a very different financial crisis. We were expecting the ‘Balance of Financial Terror’ between Asia and America to collapse and produce chaos. We are not having that financial crisis. Instead we are having a very different financial crisis. Catastrophic failures of risk management throughout the entire banking sector caused a relatively minor collapse in housing prices to freeze up global finance to a degree that has not been seen since the Great Depression. The end result of this crisis though could be rather similar: a sharp contraction in credit, a fall in US economic activity, a fall in US imports and a fall in the amount of foreign financing the US needs.* The US government is (possibly) trying to offset the fall in private demand by borrowing more and spending more — but as of now there is realistic risk that the fall in private activity will trump the fiscal stimulus.
  • ...11 more annotations...
  • Or, to put it more succinctly, Bretton Woods 2, as it evolved, hinged both on the willingness of foreign central banks to take the currency risk associated with lending to the US at low rates in dollars despite the United States large current account deficit AND the willingness of private financial intermediaries to take the credit risk associated with lending at low rates to highly-indebted US households.
  • But now US financial institutions are neither willing nor able to take on the risk of lending even more to US households. For a while the US government was able to ramp up its lending to households (notably through the Agencies) and in the process effectively take over the function previously performed by the private financial system (over the last four quarters, the flow of funds data indicates that the Agencies provided around $800 billion of net credit to US households). But now the US government is struggling to keep the financial system from collapsing. It doesn’t seem like it will able to avoid a sharp fall in the overall availability of credit.
  • It is now clear how the financial sector kept profits up: it took on more risk, as it shifted from borrowing short to buy safe long-term assets (Treasuries and Agencies) to borrowing short to buy risky long-term assets. Leverage in the system also increased (and for some broker dealers that seems to be an understatement), as more and more financial institutions believed that the US had entered into an era of little macroeconomic or financial volatility. The net result seems to have been a truly explosive concentration of risk in the hands of a core set of financial intermediaries in the US and Europe. Securitization – it seems – actually didn’t disperse risk into the hands of institutions able to handle it.
  • I hope that the process of adjustment now underway isn’t as sharp as I fear. The US economy gradually can shift from producing MBS for sale to US investors flush with cash from the sale of safe securities to China and Saudi Arabia to producing goods and services for export – but it cannot shift from churning out complex debt securities to producing goods and services overnight. Indeed, in a slowing US and global economy, improvements in the US deficit will likely come from faster falls in US imports than in US exports – not from ongoing growth in US exports.
  • But right now it looks like there is a real risk that the adjustment won’t be gradual. And it certainly looks like the flow of Chinese (and Gulf) savings to US households over the past few years has produced one of the largest misallocations of global capital in recent history.
  • US taxpayers are going to be hit with a large tab for the credit risk taken on by undercapitalized financial intermediaries. Chinese taxpayers may get hit with a similar tab for the losses their central bank incurred by overpaying for US and European assets as part of its policy of holding its exchange rate down. The TARP is around 5% of US GDP. There are plausible estimates that China’s currency losses will prove to be of comparable magnitude. Charles Dumas puts the cost at above 5% of GDP: “Charles Dumas of Lombard Street Research estimates that China makes 1-2 per cent on its (largely) dollar reserves. It then loses up to 10 per cent on the exchange rate and suffers a Chinese inflation rate of 6 per cent for a total real return in renminbi of about minus 15 per cent. That is a loss of $270bn a year, or a stunning 7-8 per cent of gross domestic product.”
  • Jboss — if some of the Chinese inflow could be redirected into investment in alternative energy, that would indeed be a win/ win. Some infrastructure bank style ideas have promise in my view — basically, the flow that used to go to freddie/ fannie could go to wind farms and the like. I would rather see more adjustment in china (i.e. more investment in Chinese infrastructure) but during the transition, if there is one, to a lower Chinese surplus, redirecting chinese financing toward new energy tech would be offer real benefits.
  • China likes 3rd generation nuclear power. Safe, lower cost than NG or coal, very much lower cost than coal with carbon sequestering, and zero carbon footprint. Wind is about 4X more expensive than our electric costs now. That’s in an area with consistent wind. Solar is worse. I don’t know if we can sucker them into investing in our technical fairy tales. Here’s a easy primer on 3rd gen nukes. http://nuclearinfo.net/Nuclearpower/WebHomeCostOfNuclearPower
    • Wade Ren
      Wade Ren on 29 Oct 08
       
      is this true?
  • btw, solar thermal installations are so easy & affordable to retrofit onto existing structures, it’s amazing that there aren’t more of them here…until you realize that they work to decentralize energy. cedric — china is already doing it in china. they are way ahead of the curve over there. my partner brought back some photos of shanghai — rows of middle class homes each with a small solar panel on top. and that’s just the tip of the iceberg — an architect friend just came back from beijing and wants to move to china (he’s into designing self-powering structures and is incredibly frustrated by the bureaucracy and cost-prohibitive measures in the US).
  • I went to engineering school right after the Arab Oil Embargo, and alternative energy was a hot topic then. All the same stuff you hear of nowadays. They even offered entire courses on it , which I took. Then my first mini career was in the power plant biz, before Volker killed it with interest rates and the Saudies killed any interest in alt. energy with their big oil field discovery. For the last 5 years I’ve been researching what’s changed, and it is frighteningly little. Solar cells are still expensive and only have a 15% conversion efficiency. They developed the new cost reduced film technology, but that knocks down efficiency to 7%. Wind power works where there is wind constantly. Generators are mature technology and are already 90 some percent efficient. Geothermal, tidal, ect. work where they are available. Looks like coal gasification and synfuel is out because it makes too much CO2. Good news is 3rd gen nuclear is way better than 1st gen plants. Hybrid cars are good, and battery technology is finally getting barely good enough for all electric cars to be practical.
  • According to news report today, Japan’s trade surplus is less than 1 billion $ in September 08, a whopping 94% decrease compared to September 07. Does it imply that going forward Japan can not buy as much treasury as before?
Colin Bennett

Second-hand (metal) law to help combat stolen copper cable trade - 0 views

www.polity.org.za/...-copper-cable-trade-2011-06-24

trends copper theft South Africa

shared by Colin Bennett on 30 Jun 11 - No Cached
  • The new Act does not allow scrap metal dealers to have in their possession any apparatus which could be used for the recycling of any controlled metal or any article or substance containing any controlled metal, Bezuidenhout said at the Copper Cable Theft conference, in Johannesburg.
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