SINGAPORE (Reuters) - The dollar inched higher against a basket of major currencies on Friday, having pulled back from one-month highs set this week as investors pondered the Trump administration's tax plan and the outlook for Federal Reserve policy. The dollar index, which tracks the greenback against a basket of six major currencies, rose 0.1 percent to 93.155 (DXY), languishing below Thursday's peak of 93.666, its highest level since Aug. 18. For the week, the dollar index has gained 1.1 percent, putting it on track for its biggest weekly gain since December. The dollar rose this week on renewed hopes for U.S. tax reforms, as well as comments from Federal Reserve Chair Janet Yellen that stressed the need for gradual interest rate hikes. Traders are probably taking profits in the wake of the dollar's rally, said Stephen Innes, head of trading in Asia-Pacific for Oanda in Singapore. "It's also the realization that we've been down this tax reform road before, and I don't think it's going to be easy... There's going to be a lot of back and forth, a lot of squabbling," Innes added. U.S. President Donald Trump proposed on Wednesday the biggest U.S. tax overhaul in three decades, calling for tax cuts for most Americans. Against the yen, the dollar edged up 0.2 percent to 112.57 yen . On Wednesday, the dollar had reached a 2-1/2 month high of 113.26 yen. Later on Friday, investors will turn their focus to U.S. economic data including the personal consumption expenditures (PCE) price index for August. The euro held steady at $1.1786 , having pulled up from Wednesday's trough of $1.1717, the common currency's lowest level in more than a month. The common currency has rallied 12 percent against the dollar so far this year as worries about the rise of anti-establishment political forces in Europe faded while expectations rose for tapering the European Central Bank’s stimulus. The euro, however, has been weighed down this week after the results of elections in Germany on Sunday. Chancellor Angela Merkel won a fourth term in office but will have to build an uneasy coalition to form a government. Sterling eased 0.1 percent to $1.3425 . On Thursday, it had gained 0.4 percent, after Britain's Brexit secretary said "considerable progress" had been made in talks and the EU's chief negotiator praised a "new dynamic" from the prime minister. Source: investing.com (28/09/2017)
Investing.com – Crude oil prices settled lower on Thursday as traders unwound some of their bullish bets on crude but sentiment on oil remained positive following inventory data on Wednesday showing a surprise draw in crude oil supplies. On the New York Mercantile Exchange crude futures for November delivery fell 1.1% to settle at $51.56 a barrel, while on London's Intercontinental Exchange, Brent fell 0.78% to trade at $57.17 a barrel. Crude oil prices fell as investors appeared to take profit on the recent rally which has seen oil prices hit multi-month highs on expectations that higher global demand would nudge the market closer toward rebalancing. Geopolitical tensions, meanwhile, limited downside momentum as Turkey vowed to deal only with the Iraqi government on crude oil exports after Iraqi Kurdistan voted overwhelmingly in favour of independence earlier this week. The pipeline linking northern Iraq to the Turkish port of Ceyhan carries 500,000-600,000 barrels of crude per day. Crude oil prices are on track extended their weekly winning streak to four weeks following strong gains earlier this week on the back of data showing weekly crude exports jumped to their highest on record while refinery activity showed signs of stabilizing. Inventories of U.S. crude fell by roughly 1.9m barrels in the week ended Sept. 22, the Energy Information Agency reported Wednesday, confounding expectations of a rise of 3.4m barrels. “Hurricane Harvey disrupted refining operations in the Gulf Coast, which resulted in notable oil supply builds” because of lower refinery input demand, and sizable gasoline draws due to lower refinery runs, said Richey, in his daily newsletter. However, “operations seem to have stabilized based on this most recent EIA report.” The widening spread between brent and crude oil prices reached $7 earlier this week, prompted a sharp rise in demand for crude, spurring an increase in exports. The U.S exported a record 1.5m barrels per day of crude oil last week, the EIA said Wednesday. The recent uptick in U.S. oil prices - above $50 a barrel – has spurred drilling activity, however, raising investor expectations of an uptick in shale output, which could weigh on upside momentum. Baker Hughes on Friday, will provide investors with its weekly update on the number of U.S. rigs drilling for oil. Source: investing.com (28/09/2017)
SYDNEY (Reuters) - Asian shares tried to regain some poise on Friday after a tough week in which the gathering risk of a U.S. rate rise lifted Treasury yields toward nine-year highs and boosted borrowing costs across the region. Activity seemed mainly confined to book-squaring for the end of the month and quarter, and moves in markets were modest at best. MSCI's broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) inched up 0.1 percent, but was still down a sizable 2.1 percent for the week so far. Japan's Nikkei (N225) was off 0.1 percent, though South Korea (KS11) managed to recoup 0.4 percent of gains. Many markets in the region have been cold shouldered this week as investors priced in a greater probability of a rate hike from the Federal Reserve in December. Fed funds futures <0#FF:> imply around a 73 percent chance of a move at the Dec. 12-13 policy meeting. As a result, yields on two-year Treasuries (US2YT=RR) reached a near nine-year top before pulling back a touch to 1.46 percent on Friday. They had been as low as 1.254 percent early in September. Adding to the upward pressure was President Donald Trump's proposals for steep tax cuts which, if passed, could benefit U.S. corporations' profit margins. The plan, however, lacked any detail on how it might be paid for and faced much opposition in Congress. "As tax negotiations intensify, significant procedural, fiscal and political constraints are likely to become apparent," cautioned Richard Franulovich, an analyst at Westpac, while noting the economic benefits of the plan were also in doubt. "The size of the tax cut is simply too large to be realistic and repealing deductions will prove politically difficult." Still, a tax cut that made U.S. equities more attractive while lifting the dollar and Treasury yields would likely prove negative for emerging markets, particularly those that relied heavily on foreign investment. [EMRG/FRX] The risk alone was enough to rattle share, bond and currency markets in Asia on Thursday, and they will remain vulnerable to headlines on the tax package as it moves through Congress. DOLLAR REPRIEVE The jump in Treasury yields proved a much-needed tonic for the U.S. dollar. Against a basket of currencies the dollar index (DXY) was up 0.12 percent on Friday at 93.197, to hold gains of 1.1 percent this week. The euro held at $1.1778, having bounced from a six-week trough of $1.1715, but was still down 1.5 percent for the week so far. If it remains there, that would be the largest weekly loss since November 2016. The dollar was also on track for its third week of gains on the Japanese yen at 112.55 , though it failed to sustain a peak of 113.26. Over on Wall Street, the Dow (DJI) had ended Thursday with a minor gain of 0.18 percent, while the S&P 500 (SPX) added 0.12 percent and the Nasdaq (IXIC) was flat. (N) All three were at or near record highs, stirring concerns about rich valuations. The forward price-to-earnings ratio (P/E) on the S&P stood at 17.9 compared with its long-term average of 15.1, while the forward P/E on the Russell (RUT) is 26.3 against an average of 21.3. Important data on inflation from the European Union and the United States are due later in the session, along with economic growth figures in Canada. Early readings on Chinese manufacturing are out on Saturday ahead of a week-long holiday in the Asian giant. The EU also faces more political uncertainty on Sunday when Catalan separatists are set to defy Spanish efforts to block an independence referendum. In commodity markets, oil prices were trading modestly firmer in early Asia having touched two-year peaks early in the week. Brent (LCOc1) was 19 cents higher at $57.60 a barrel, while U.S. crude (CLc1) rose 3 cents to $51.59 a barrel. Source: investing.com(28/809/2017)
Akron, OH - The Goodyear Tire & Rubber Company has released a non-pneumatic, or airless, turf tire as a solution for users who desire worry-free performance. The tire is available as an upgrade option on Bad Boy Mowers’ Outlaw XP, a zero-turn radius model, with expected availability in early 2018. The technology is part of the company’s strategy to develop maintenance-free technologies for passenger and commercial vehicles, particularly in fleet applications. “The commercial release of this turf tire is an important step in our efforts to develop airless tire technology for a range of applications,” said Christopher Helsel, Goodyear’s chief technology officer. “As we look to a future where ride sharing and autonomous vehicles become mainstream, the demand for lower maintenance, longer lasting tires will continue to increase.” Goodyear has been developing non-pneumatic technologies since the 1970s when it participated in the design of tires for NASA’s Apollo lunar roving vehicle, and in recent years in the development of a tire for future missions to Mars. For this new application, the Goodyear TurfCommand with DuraWeb Technology is an optional fitment for the premium Bad Boy Mowers model. Goodyear’s exclusive DuraWeb Technology has been in development for the past few years at the company's Innovation Center in Akron, and is being manufactured in the U.S., exclusively for Bad Boy Mowers. Goodyear engineers and scientists incorporated feedback from field studies that included the Cleveland Metro Parks and with mower dealers, such as Beltz Lawn and Garden Equipment in Akron, Ohio and the team at Bad Boy Mowers to create a product for the benefit of the end-user. The tire features a thermoplastic connecting structure that provides a unique combination of stiffness and flexibility to carry heavy loads while maintaining a smooth ride and minimizing turf tear. It was designed to deform, absorb impact, and create a smooth ride every time. Source: rubber world (28/09/2017)
Cerritos, CA – R.D. Abbott Company, Inc. will feature its latest technical innovations, products and services in Booth 730 at the 2017 International Elastomer Conference in Cleveland, OH, October 10–12. Their featured technical innovations and services will include: Liquid Additive Manufacturing (LAM) 3D printing by German RepRap GmbH with Dow Corning Silastic LC 3335 liquid silicone rubber; In-Molding Bonding (IMB) technologies with Lord adhesives; Architectural sealing with Cancarb N-990 Thermal carbon black and Arlanxeo Keltan (EPDM). R.D. Abbott will also take part in the 192nd Technical Conference with these two papers: “In-Mold Bonding of Fluorinated Liquid Silicone Rubber to Thermoplastics and Metals,” presented by Rick Ziebell and co-authored by Jose Gonzalez of R.D. Abbott on Tuesday, October 10 from 3:15–3:45 p.m.; “Thermal Carbon Black (N-990) for Processing Performance in Architectural Sealing,” presented by Rick Ziebell and co-authored by Matt Rogers of R.D. Abbott on Thursday, October 12 from 1:00–1:30 p.m. Several of R.D. Abbott’s supplier partners will also be exhibiting and presenting technical papers at the conference, including 3M, Alpha Technologies, Blachford, Arlanxeo, Burlan Manufacturing, Dow Chemical, Franklynn Mold Release, Hallstar, Kraton Performance Polymers, Lanxess, Lord Corporation and TSE Industries. Source: rubber world (28/09/2017)
@Cooper Tire reaching out to 10,000 students for National Manufacturing Day events in October(29/09/2560)29 Sep 2017
Findlay, OH - Marking its third year as a member of the National Association of Manufacturers’ (NAM) and Manufacturing Institute’s (MI) Dream It Do It program, Cooper Tire will connect with more than 10,000 students, primarily eighth graders, for Manufacturing Day (MFG Day) events throughout October. Cooper will focus on the communities where the company has major facilities, including Findlay, OH; Texarkana, AR; and Tupelo, MS. In addition to participating in community-wide efforts, the company will host its own Cooper Manufacturing Experience events. These highly interactive, hands-on events have been planned by the company’s Dream Team, a group of 40 employees from across Cooper who work with students and others all year long in efforts to educate and improve the image of careers in manufacturing to help strengthen the future workforce pipeline. “Manufacturing is technology driven, fast paced and offers exciting career opportunities, but it can be challenging to attract employees. Many students today are not focused on careers in manufacturing and, unfortunately, great jobs go unfilled,” said John Bollman, Cooper’s senior vice president and chief human resources officer. “Cooper is working to attract students to manufacturing careers by giving young people hands-on experience that mimics what it’s like to work in the tire industry. Over the past several years, we have reached nearly 30,000 students through these events, and we hope as they think about a career path in the future they will consider jobs in manufacturing and some of the great opportunities available at Cooper.” According to a nationwide survey commissioned by NAM in 2016, 89 percent of students participating in MFG Day events felt more aware of manufacturing jobs in their communities, and 64 percent reported being more motivated to pursue a career in manufacturing. This is increasingly important as, over the next decade, it is estimated that nearly 3.5 million U.S. manufacturing jobs will be needed and 2 million of those jobs are expected to go unfilled due to manufacturers’ challenge to find talent with the required skills. Abbey Kindler, senior engineering technician for Cooper Tire’s Global Technical Center, said, “I joined Cooper’s Dream Team because I have found an amazing career in manufacturing, and I want to show young people there is so much more to the industry than meets the eye. Through this experience I am able to share my career path, answer questions, and debunk myths about working in the industry. It is important that students, as well as their parents and teachers, are shown the wide array of possibilities offered through manufacturing. It can truly be the ticket to a rewarding career.” While MFG Day is officially October 6 this year, the Cooper Manufacturing Experience will be offered to students throughout the month of October. In Findlay, where Cooper’s global headquarters, technical facilities and a tire manufacturing/distribution facility are located, approximately 1,000 students from 11 schools will visit October 3-6 to experience eight different interactive stations ranging from raw materials and tire design, including 3D modeling, to tire assembly, mold design and curing, as well as tire finishing and testing. Safety will be emphasized and human resources and marketing, as well as several other functions, to give students an understanding of the dozens of roles involved in the design, production, distribution, and sales and marketing of Cooper tires. Students will also have the opportunity to take part in an interactive session with United Steelworkers Local 207L, and Findlay-based companies Ohio Logistics, Findlay Machine and Tool Inc. and GSW Manufacturing Inc. will provide additional manufacturing demonstrations and hands-on activities. In conjunction, locally-headquartered manufacturer Rowmark, LLC will provide students with facility and plant tours at their Findlay location. In Texarkana, AR, where Cooper has a tire manufacturing/distribution facility, approximately 2,000 students from six middle and junior high schools will come to the Texarkana Convention Center October 11 to 13 to experience the same interactive stations that will be featured as part of the Findlay event with an expanded number of additional stations including engineering, IT, lab, and warehousing/distribution. In Tupelo, MS, where Cooper has a tire production/distribution facility, the company will participate in the local Imagine the Possibilities Career Expo October 3 to 5 at the BancorpSouth Arena and Conference Center. Approximately 7,000 eighth grade students will attend the Expo, which is an annual local event that will feature dozens of area businesses giving students a glimpse into many different career options, including manufacturing and Cooper. In addition, the Cooper Dream Team will host the Cooper Manufacturing Experience on site at Tupelo High School on October 19 and 20, when some 1,200 students will experience many of the same interactive stations that Findlay and Texarkana will offer. Students who attend the Cooper Manufacturing Experience in all three communities will be encouraged to share their experiences through social media using #CooperCareers and #MFGDay17, which will expand awareness of manufacturing to family and friends across the U.S. Source: rubber world (28/09/2017)
@Elastomers professionals from across the silicone elastomers and TPE industries to gather in Munich this November (29/09/2560)29 Sep 2017
Munich, Germany - Over 250 key professionals from across the global elastomers industry will come together in Munich, Germany, November 28-29, to attend this year’s renowned Silicone Elastomers and Thermoplastic Elastomers World Summits. Over the years, there have been a number of new developments across both the silicone elastomers and thermoplastic elastomers industries, driven by increasing performance requirements across various sectors; from automotive and healthcare to consumer and industrial applications. With so many important developments, it is vital for all areas of the supply chain to stay up-to-date with what is happening in the industry and get ahead of the competition. This is why so many industry experts come together to attend this yearly gathering, known widely as the ‘home’ of the elastomers industry. The organizer, Smithers Rapra, has put together a comprehensive program for each summit this year, covering the full scope of the global elastomers industry and providing valuable information on these developments and initiatives, as well as delivering an insightful forecast into the future. Sessions include advanced research and development updates, additives, the view of the OEM, materials; biomaterials and renewables, TPEs and their properties and much more. Described as an “Excellent opportunity for networking and improvement of market and technology knowledge” by OCSiAl, both summits offer delegates the opportunity to gain the knowledge to boost their business, increase profit, meet new industry contacts, build business relationships and develop an increased understanding of customers’ needs. Not only that, by purchasing one ticket to their preferred event, delegates will gain full and unfiltered access to the other event as desired, providing double the content and double the ROI. Presentations include: Advancements in adhesion of fluorinated liquid silicone rubber (F-LSR) to substrates, by Rick Ziebell, vice president of technology, R.D Abbott Company; Color and safeguard your liquid silicone rubber for medical applications with biologically tested and change controlled special solutions, by Beate Treffler, regional head, Europe Healthcare Polymer Solutions, Clariant Plastics and Coatings; Development of silicone rubber solutions for transport applications, by Joseph Hallett, senior development chemist, Fenner Precision; Silicones as encapsulation for flexible LED modules, by Martin Reiss, materials manager, OSRAM; Vistamaxx performance polymers enable oil-free soft touch grips, by Anja Schulz, Vistamaxx market developer, ExxonMobil; Engineering TPEs with advanced damping properties for automotive industry, by Nobuhiro Miwa, technical service engineer, Kuraray. For more information on the Silicone Elastomers and Thermoplastic Elastomers World Summits, visit http://www.elastomer-forum.com/about. Source: rubber world (28/09/2017)
Brussels, Belgium - Chemistry World reports that the European Commission has updated its list of 27 critical raw materials for European industry. Nine materials, including helium and natural rubber, have been added to the list, while chromium and magnesite have been removed. Three of the newly added materials, bismuth, helium and phosphorus, were not previously assessed. Some have become more critical because of changing demand and supply, while others moved into the critical class because of a change in how their supply risk is calculated, focusing more on where Europe gets its materials rather than global production. One example is natural rubber, for which the commission notes there are few readily available substitutes, especially in the automotive sector. While Thailand is the world’s biggest supplier of natural rubber, Europe imports mostly from Indonesia and Malaysia, which score low on the World Governance Index, so are seen as less reliable. were newly assessed in 2017. "The list first serves to understand raw materials security supply issues for the EU," says a commission spokesman. "We use the list to incentivize production in the EU through enhancing recycling or mining, and try to direct EU research funding in this direction." Source: rubber world (28/09/2017)
TOKYO (Sept 28): Benchmark Tokyo rubber futures on Thursday hit their lowest in near two months, taking a lead from the plunge in Shanghai futures amid a broad sell-off in global commodities. Singapore rubber futures also plunged more than 7%. The sell-off mainly involved crude, rubber and other commodities after Brent crude slipped from a more-than-two-year high, said a Japanese commodities trading source, who declined to be identified. Technicals also indicated a downtrend. TOCOM rubber may retrace into a range of 196.90 yen-200 yen per kg in three months before rising towards a resistance at 229.40 yen, as suggested by its wave pattern, a Fibonacci retracement analysis and a rising channel. The Tokyo Commodity Exchange rubber contract for March delivery finished down 11.9 yen at 205.8 yen (US$1.82) per kg. Earlier in the session, it touched 204.6 yen, its lowest since Aug 4. The most-active rubber contract on the Shanghai futures exchange for January delivery dropped 1,025 yuan to finish at a two-month low of 13,605 yuan (US$2,040) per tonne. The front-month rubber contract on Singapore’s SICOM exchange for October delivery last traded at 140.70 US cents per kg, down 10.9 cents. (US$1 = 113.0000 yen) (US$1 = 6.6685 Chinese yuan) Source: globalrubbermarket (28/09/2017)
The importance of unimpeded access to natural rubber has been acknowledged by the European Union, which has added the raw material to its Critical Raw Material List. the decision was made with the support of the European Tyre & Rubber Manufacturers’ Association (ETRMA), which contributed to the process of revising the List. The association has since welcomed the inclusion of natural rubber in the 2017 List, which is valid for three years.
The 2017 criticality assessment was carried out for 61 candidate materials (58 individual materials and three material groups for a total of 78 materials). Natural rubber was the only biotic raw material to be included in the 27 raw materials that passed the assessment.
“This is an important step for our sector. Natural rubber will receive proper political attention and consequent support when dealing with issues related to the supply of natural rubber,” said Fazilet Cinaralp, secretary general of ETRMA.
The new Critical Raw Material List was adopted by the College of Commissioners on 13 September and communicated as part of the EU industrial strategy on 18 September as an essential element “to help ensure the secure, sustainable and affordable supply for the EUmanufacturing industry.”
“Indeed,” Cinaralp continued, “it is our hope that the inclusion of natural rubber on the list will strengthen the competitiveness of the rubber industry, stimulate the production of natural rubber also beyond traditional producing countries, increase awareness of potential raw material supply risks and support the efforts of European Commission when negotiating trade agreements, in order to challenge potential trade distortion measures”
Source: globalrubbermarket (28/09/2017)