Sujin

Sujin

Investing.com - The People's Bank of China set the yuan mid-point at 6.6192 against the dollar on Wednesday, compared to the previous close of 6.6400, the lowest since Aug. 29. The China Foreign Exchange Trade System sets the weighted average of prices given by market makers. The highest and lowest offers are excluded from the calculation. The central bank allows the dollar/yuan rate to move no more than 2% above or below the central parity rate. Market watchers see a yuan level of 7 against the dollar, USD/CNY, as a key touchstone for sentiment in the near term. Source: investing.com (26/09/2017)

SYDNEY (Reuters) - The dollar climbed to a one-month high and bond yields rose on Wednesday as risks grew for a U.S. interest rate hike in December, while Asian stocks hovered near multi-week lows as tensions in the Korean peninsula remain elevated. Markets were put on notice by Federal Reserve Chair Janet Yellen who used a Tuesday speech to warn it would be "imprudent" to keep policy on hold until inflation is back to 2 percent. She said the U.S. central bank "should also be wary of moving too gradually" on rates. Atlanta Fed chair Raphael Bostin, too, talked up the prospect of a December rate hike. "Fed chair Janet Yellen was the highlight though," said Chris Weston, Melbourne-based Chief Market Strategist, IG. "Without going into the speech in any depth, the wash-up is the comments were very much aligned with the recent (Fed) statement, but throw further weight that a December hike is on the cards." Investors lifted the probability of a rate hike in December to 78 percent, from 72 percent late last week. That sent the dollar to its highest level since Aug. 31 against a basket of currencies and was last holding at 92.966. The market is now waiting to hear from U.S. President Donald Trump on his tax reform plans as he remains under pressure to produce a legislative victory with the collapse of the latest Republican push to repeal Obamacare. The mood was less upbeat elsewhere, with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.1 percent at three-week lows following bellicose statements by Trump and North Korean leader Kim Jong Un. Trump warned North Korea on Tuesday that any U.S. military option would be "devastating" for Pyongyang, but said the use of force was not Washington's first option to deal with the country's ballistic and nuclear weapons program. Even a softer yen could not stop Japan's Nikkei slipping 0.5 percent, while Australia's main index eased 0.1 percent. Wall Street was barely changed, with the Dow down 0.05 percent, while the S&P 500 added 0.01 percent and the Nasdaq 0.15 percent. The tech sector gained 0.4 percent, with Apple shares (NASDAQ:AAPL) rising 1.7 percent after four sessions of declines. The pan-European FTSEurofirst 300 index had ended flat at 1,509.63. Nestle shares climbed 1.8 percent as the world's largest packaged food company set a profit margin target for the first time. In currencies, the euro held at more than one-month lows at $1.1781 as investors faced months of political horse trading in Germany before a new government could be formed. The dollar stood near a 2-1/2 month high on the yen at 112.27 helped by rising U.S. Treasury yields. The yield on benchmark 10-year Treasury notes was up at 2.24 percent after rising 2 basis points overnight. [US/] The two-year yield, which rises with traders' expectations of higher Fed fund rates, touched 1.467 percent, the highest since October 2008. The advancing greenback pulled commodities priced in dollars lower. Spot gold stood near one-month lows and was last trading at $1,293.21, while copper touched the lowest since mid-August. [MET/L] Crude oil prices popped up early Wednesday after the weekly API inventory report showed a 761,000 barrel build-up in crude inventories, which suggests downside risks to the consensus estimate of a 2.52 million barrel build in an official report due later in the day. U.S. crude firmed 22 cents to $52.10 per barrel, while Brent added 19 cents to $58.63. Source: investing.com (26/09/2017)

Investing.com - Crude oil prices gained in Asia On Wednesday as industry estimates on U.S. inventories threw up an unexpected drop in supplies. On the New York Mercantile Exchange crude futures for November delivery rose 0.39% to $52.08, while on London's Intercontinental Exchange, Brent gained 0.17% to $58.02 a barrel. U.S. crude oil inventories fell by 761,000 barrels at the end of last week, the American Petroleum Institute (API) estimated Tuesday, compared with a 2.296 million barrels build expected. Gasoline inventories however rose by 1.5 million barrels compared to a 962,000 barrels decline seen and distillates declined by 4.5 million barrels, compared with a 2.474 million barrels drop expected. Oil supplies at the hub of Cushing, Oklahoma, rose by 1.1 million barrels. Official data will be released on Wednesday from the U.S. energy Information Administration (EIA). The API and EIA figures often diverge. Overnight, crude oil prices settled lower on Tuesday, as investors appeared to take profit on the recent rally that has seen oil prices hit multi-month highs ahead of weekly inventory data due Wednesday expected to show crude oil supplies rose for the fourth-straight week. A day after crude oil prices jumped to a four-month high following a threat from Turkey’s president to cut off oil exports from a Kurdish region of Iraq, traders appeared to unwind some of their bullish bets on crude oil futures ahead of a fresh batch of U.S. crude inventory data. Turkey’s President Recep Tayyip Erdoğan on Monday warned his country could “close the valves” on the pipeline that carries 500,000-600,000 barrels of crude per day from northern Iraq to the Turkish port of Ceyhan. The potential supply disruption, however, was weighed against expectations of an uptick in U.S. output, as disruptions to U.S. refinery activity due to storm Harvey continues to pressure demand for crude oil, adding to excess supplies. “… we’re starting to see a correction in price as investors start to take profits at the highs,” said Adrienne Murphy, chief market analyst at AvaTrade. And “the efforts of OPEC and its allies may be futile, given the robust growth of the U.S. shale industry.” Source: investing.com (26/09/2017)

JAKARTA (Reuters) - Brent oil prices rose on Wednesday to sit not far off 26-month highs hit in the previous session amid threats from Turkey that it could cut crude exports from Iraq's Kurdistan region. Brent crude for November delivery was up 21 cents, or 0.4 percent, at $58.65 a barrel by 0240 GMT. It settled down 1 percent on Tuesday, after earlier hitting $59.49, its highest since July 2015 and more than 34 percent above a 2017 low. U.S. crude for November delivery rose 24 cents, or 0.5 percent, to $52.12, having settled down 0.7 percent after hitting a five-month high of $52.43 on Tuesday. Oil prices have been supported by output curbs by the Organization of Petroleum Exporting Countries (OPEC) and other major producers, although U.S. crude has lagged behind Brent amid concerns that U.S. production-growth could stoke oversupply. "Going forward, oil is likely to remain supported as supply disruptions, combined with solid global demand, will probably continue to lift prices," ANZ said in a research note, referring to supply disruptions in the United States due to rough weather in the Atlantic. Monroe Energy, a subsidiary of Delta Air Lines (NYSE:DAL), ran out of crude oil at its 185,000 barrel-per-day Trainer, Pennsylvania, refinery amid shipping delays due to rough seas caused by Hurricanes Jose and Maria, according to a source familiar with the company's operations and Reuters shipping data. U.S. crude supplies have been rising as imports and production recover in the aftermath of Hurricane Harvey, while refineries have been slower to restart. The U.S. Energy Information Administration (EIA) releases stocks data later on Wednesday. U.S. crude inventories were seen rising for a fourth straight week, while refined product stockpiles likely fell last week, an extended Reuters poll showed on Tuesday. Turkish President Tayyip Erdogan repeated on Tuesday a threat to cut off the pipeline that carries 500,000-600,000 barrels per day (bpd) of crude from northern Iraq to the Turkish port of Ceyhan, intensifying pressure on the Kurdish autonomous region over its independence referendum. This potential loss, combined with 1.8 million bpd of output reductions by the Organization of the Petroleum Exporting Countries and non-OPEC producers, raised concerns of tighter supply. Source: investing.com (26/09/2017)

Tokyo, Japan - Bridgestone Corporation announced the 50th anniversary of the group’s operations in Thailand. The milestone was celebrated with a ceremony held in Bangkok on September 18, 2017. Guests at the ceremony included Dr. Atchaka Sibunruang, Minister of Science and Technology, Hirunya Suchinai, Secretary-General of the Thailand Board of Investment, and other Thai government officials, as well as local business partners. Masaaki Tsuya, Bridgestone chief executive officer, and Kazuhisa Nishigai, chief operating officer, also attended the ceremony. At the ceremony, Tsuya thanked the Bridgestone Thailand team and key partners for their role in advancing the Bridgestone business in Thailand, while also stating his dedication to contributing to society in the country. In 1967, Thai Bridgestone Co., Ltd., was established as the Bridgestone Group’s first full-fledged operating base in Thailand. Today, the group owns and operates four tire factories, five raw material and equipment-related factories, two diversified product factories and other production bases in this country. The Bridgestone Asia Pacific Technical Center Co., Ltd., also based in Thailand, is the center for the research and development of tires for the Asia and Pacific region. With these bases as well as a wide-reaching, directly-operated tire retail network, the group’s operations in Thailand span the entire value chain. Additionally, Bridgestone announced plans to construct two aircraft tire solutions business bases in Thailand on December 22, 2016. One base will be located in Rayong Province and will produce new aircraft tires, while the second base will be located in Chonburi Province and will produce retread aircraft tires. The Bridgestone Group's aircraft tire solutions business is focused on combining products and services to deliver solutions that will help customers achieve their goals. By leveraging the company’s strengths to create innovation, the group aims to contribute to economic and industrial development in Thailand. Bridgestone also sponsors youth education programs and provides aid for reconstruction from floods and other natural disasters through its business activities. The group is committed to offering ongoing support for local communities as a responsible member of society in Thailand. The Bridgestone Group continues to contribute to the realization of a sustainable society and the resolution of social issues in Thailand and all other countries and regions. The group aims to act as a responsible corporate citizen. As an industry leader, the Bridgestone Group has a responsibility for the future. The group seeks to fulfill this responsibility by leveraging its strengths and specialties and creating innovation and advanced technologies to help deliver higher levels of comfort as people move, live, work and have fun. Source: rubber world (26/09/2017)

Lombard, IL - TechnoBiz is offering the training program, Thermoplastic Foams & Foam Extrusion, October 10-11, 2017, in Tampa, FL, at the Crowne Plaza Tampa Westshore. This two-day special training seminar on "Thermoplastics Foams & Foam Extrusion" covers detailed information on basic theory and practical issues related to thermoplastics foam processing. Special emphasis is given to foaming agents and the extrusion process. This seminar is suitable for engineers, plant managers, technical service teams, and research and development related to foams and processing. The instructor is Dr. James Throne, a world-renowned and well-experienced plastics processing consultant. This course is managed by Czuba Enterprises Inc. To register, download the registration form at http://www.plastics-industry.org Source: rubber world (26/09/2017)

Freudenberg, Germany - HF Mixing Group strategy clearly has a focus on mixing room systems all delivered out of one hand. Rather than the delivery of individual machinery for mixing applications, the market requires a concept for entire system solutions which not only include machines and modules, but also automation and all the auxiliary products which are integrated into a system. The HF Mixing Group's strategy is to provide complete and sustainable mixing solutions. With this in mind, the HF Mixing Group aims to extend its capabilities and better serve this market based on the following organizational changes and re-structuring. Increasing its level of competency in upstream material handling equipment, HF Mixing Group announces a strategic co-operation with B&K Wäge & Anlagentechnik GmbH, Germany, with a focus on weighing, storage, feeding, and dosing of raw materials and liquids that are tailored to system requirements. Based on the know-how of the company Steimel-Fix (1925), B&K was founded in 2002. This longtime experience and know-how of B&K allows the HF Mixing Group to further expand its product portfolio and in the future have access to their upstream equipment and plant engineering resource. According to HF, it is logical to expand the competency in upstream material handling solutions. Dense phase conveying systems for fillers is a standard solution for B&K. While, on the other hand, B&K is now able to offer weigh feed systems with the automation solutions developed by HF Mixing Group. HF Mixing Group believes that in this strategic co-operation, it has found an optimum and future-oriented solution for both parties. In the medium term, HF will jointly co-operate on research and development to address technological challenges in the field of material weighing and dosing. - Source: rubber world (26/09/2017)

Pune, India - The report, "Silicone Structural Glazing Market by Type (Four-Sided Structural, Two-Sided Structural, Total Vision Systems), Material (Aluminum Structural Framing, Glass Panel, Silicone Sealant), End Use (Commercial, Public), and Region - Global Forecast to 2022," published by MarketsandMarkets, the market size is estimated to grow from $28.69 billion in 2017 to $43.95 billion by 2022, at a CAGR of 8.90 percent. It is projected to witness significant growth in the next few years due to advancements in glass technology and the installation efficiency in facade systems. The growing demand for advanced facade systems in the building and construction sector, along with environmental concerns and energy efficiency in buildings are the key factors driving the growth of the silicone structural glazing market. The market has opportunities owing to the rise in demand for green buildings and the rise in investments in infrastructural projects in developing economies. The four-sided structural segment, by type, is projected to dominate the silicone structural glazing market through 2022. The dominant position of this segment can be attributed to the rising energy consumption by the commercial, public and residential buildings, which will generate more requirements for advanced glass facade systems, which are mainly used for total vision and emission control through green buildings. They are largely used in the commercial sector to reduce the energy consumption in the building. The commercial sector dominated the market in 2016 and is projected to be the fastest-growing end use sector over the next five years, as a result of the rising stringent emission standards, rising demand for glass facade systems, and the growing requirement for green buildings. The growing building and construction industry, along with the rising standardization in facade systems, drive the silicone structural glazing market growth. The Asia Pacific region accounted for the largest share of the silicone structural glazing market in 2016, wherein China was the largest country-level market. The governments' stringent emission norms and the growth of the commercial, public and residential sectors are some of the factors driving the silicone structural glazing market in Asia Pacific. The market in this region is growing rapidly due to the considerable increase in building and construction activities, along with the presence of numerous leading players, which play a crucial role in the growth of the market for silicone structural glazing. The major players in the silicone structural glazing market include Nippon Sheet Glass Co. Ltd. (Japan), Asahi Glass Co., Ltd (Japan), YKK Corporation (Japan), Central Glass Co., Ltd. (Japan), Xinyi Glass Holdings Limited (China), Shanghai Yaohua Pilkington Glass Group Co., Ltd. (China), Kibing Glass (China) and Taiwan Glass Ind. Corp Source: rubber world (26/09/2017)

Copley, OH – Preferred Compounding has acquired Wadsworth, OH-based Kleen Polymers, a custom rubber compounder specializing in non-black elastomeric compounds. The acquisition of Kleen Polymers expands Preferred’s mixing capability in ultra-clean color, high performance compounds. Terms were not announced for the deal, which is effective September 25, 2017. Kleen Polymers has significant expertise in color compounding of high-performance elastomers. The Kleen Polymers compounding business will be integrated into Preferred’s North American operations, and the plant will operate as Preferred Compounding – Kleen Polymers. Rick Marefka, principal at Kleen Polymers, will remain with the company and join the Preferred management team. “Kleen is a high-value-added company that shares our commitment to consistent quality, technical excellence and high levels of customer service,” said Ken Bloom, Preferred president and CEO. “This acquisition is a perfect fit for us to expand our product capabilities and our ability to comprehensively serve our customers. We are excited to have Rick join our organization and look forward to working together to bring our customers a broader offering of high-quality color compounds.” Preferred is the second largest custom rubber compounder in North America, with mixing operations in Ohio, Georgia, Tennessee, Mexico and Wisconsin. Other recent growth initiatives include signing a lease for a second building in San Luis Potosi, Mexico, and bringing online a second Farrel F-270 at its Tennessee operation in February, doubling capacity at that plant. Preferred and Kleen supply proprietary and custom mixed rubber compounds and components for automotive, industrial, oil and gas, and other markets. EdgePoint Capital Advisors advised Kleen Polymers on the transaction. Source: rubber world (26/09/2017)

KUALA LUMPUR — The Ministry of Plantation Industries and Commodities expects rubber and rubber product exports to hit this year’s RM20 billion target due to buying support mainly from the US, Europe, China and India. Its Minister, Datuk Seri Mah Siew Keong, said between January and July 2017, rubber and rubber product exports rose by 38.5 per cent to RM19.1 billion from RM13.8 billion during the same period last year. In 2016, exports of rubber and rubber products stood at RM18.1 billion. He said this was partly due to the decision by some importing countries to switch to natural rubber (latex/nitrile-based) gloves from vinyl gloves, noting that the former were produced in Malaysia. Mah said this to reporters after launching the Malaysian Rubber Export Promotion Council (MREPC) Industry Linkage Fund (ILF), themed ‘Enhancing Competitiveness Through Research Collaboration’, here today. He said the ILF was an effort to create a complete eco-system to support the development of the rubber products industry in terms of market promotion, research and development and human capital. MREPC’s ILF started with an initial fund of RM3 million, to be awarded either as a full research fund or as a matching grant. The full research grant would be awarded to projects which offer industry-wide solutions, while the matching grant would cater to specific projects that would benefit individual companies, especially small and medium enterprises. Meanwhile, Mah said, for the coming budget, his ministry had sent a proposal to the government to extend the reinvestment allowance for manufacturers beyond 2018. “We hope it will be extended as the manufacturers have long-term plans for their businesses, and they need some time to implement them,” he said. Previously, under the 2016 Budget, the government had accorded reinvestment allowance of up to 60 per cent of the allowed capital expenditure for manufacturers for the 2016-2018 period. Source:— BERNAMA(26/09/2017)