澳洲联储RBA预计再次进入降息周期

鉴于对澳大利亚经济疲软状况的担忧,澳洲联储很可能在今天的政策会议上选择降息。

最新官方数据显示,澳洲年度失业率有所下降,然而本季度失业率平均值比上个月的平均值有所升高,说明失业率仍在继续攀升。在过去的一年中,澳洲平均失业率由5.9%逐步上升至6%、6.1%,最终达6.2%。

澳洲联储理事会公布的经济数据显示,澳大利亚6个月内经济年度增速由3.6%下滑至1.6%。,新的预测数据将在周五重新公布。

由于经济增长所需财政预算下跌回长期水平,消费者信心指数和企业信心指数均未出现提振。

受到价格折扣的影响以及工资缓慢增长和攀升的失业率的压力,零售销售数据保持稳定但并未出现大幅增长。

油价暴跌以来,整体通胀水平已经下跌至1.7%,进一步偏离澳洲联储在上一年第二季度所设定的2—3%的通胀目标。更重要的是,不同于去年年底给出的油价下跌将放缓的预期,澳洲联储可能会预计油价将继续下跌,而这一下跌将影响其他商品价格,给通胀带来更大下行压力。

澳洲联储的重心并未放在2014年第四季度超高的基本通胀率上,而更加关注与 “非贸易品”(不进行国际交易的商品)相关的通胀率。由于工资增长缓慢和消费者需求降低,这一指标较去年同期大幅下滑。然而尽管澳元严重贬值,与“贸易品”(可进行国际交易的商品)相关的通胀率也已经出现负值。

尽管受到降息是否能有刺激经济增长的质疑,澳洲联储仍希望降低隔夜现金利率。然而大家担心这一降息决定可能会对地产投资市场造成不利影响,其刺激企业和消费者借贷以增加消费的目的可能无法实现。

另一降息阻力来自于澳洲联储在12月政策会议后发布的声明,声明中提到“最谨慎的做法应该是维持利率一段时间内的稳定”。

澳洲联储相信自去年12月以来,油价暴跌、经济增速放缓和低通胀率已经改变了市场情况。他们相信如果降息势在必行的话,那么现在就是最好的时间。他们同时担心如果违背了降息预期,近期内贬值的澳元将会重新反弹。

本周二,包括新任的财政部长John Fraser在内的澳洲联储理事会的9个成员将最终决定是否降息。目前市场预期降息势在必行。如果考虑到近期经济增长而没有降息的话,降息决定将可能出现在3月。

Bradken buyout falls through

A proposed acquisition of Bradken has collapsed as mining markets remain volatile.
Late last year a private equity consortium, consisting of Bain Capital and Pacific Equity Partners, made approaches for a takeover of the construction and engineering company.
The move, worth around $872 million, drove Bradken stock up 36.45 per cent in a single day.
However the deal has now collapsed.
According to Bradken, following due diligence of the consortium and the development of a proposal “the recent volatility in global commodity and financing markets has impacted the consortium’s ability to obtain financing on terms acceptable to the consortium”.
“As a result, the consortium has now informed the Board that it is not in a position to make a binding proposal at this time.
“Consequently, Bradken and the consortium have ceased all discussions in relation to the proposal.”
Following this announcement Bradken has now focused on “a number of fast-payback Capex initiatives that are designed to increase EBITDA and overall margins on existing volumes”.
This includes the recent acquisition of a foundry in India and cost reduction activities.
Bradken also has a gloomy outlook ahead, stating that while it “remains well positioned to navigate through this volatility, there are no visible signs at this stage of a turnaround in the mining cycle”.
The manufacturer will announce its results in early February.

New screen plants launched

Terex Minerals Processing has developed new feeder and screen plants, expanding its CR Series of portable plant range.

The new machines, the Terex Cedarapids CRS620S Portable Screen plant and Terex Cedarapids CRS6203FV Portable Feeder/Screen plant, are the next generation of Terex processing plants, according to the company.

Terex stated that the new CRS620S screen increases production and handles applications not possible with traditional horizontal screens because it combines high g-force oval stroke motion with adjustable variable slope operation.

This plant can handle larger deck loads and larger screen openings.

Hydraulics raising modules can quickly change the screen slope in 2.5 degree increments up to a maximum of 7.5 degrees to best fit the screening application.

Screen openings up to 152 mm are possible while ‘slant spring’ screen suspension provides stability at all slopes, and includes low-maintenance dampers and also eliminates transport braces.

The plant uses large capacity conveyors to handle the high production capabilities of the new LJ-TSV6203 screen, while an optional fines reject system is able to remove excess fines to help achieve in-spec product without additional conveyors.

The 1219 mm wide fines conveyor, which has an elevated discharge, and the two 762 mm wide reversible cross conveyors, which extend up to 1067 mm beyond the main frame, easily feed off-plant conveyors.

The screen plant has magnetic screen deck liners for cross beams and diagonal braces.

Roll-away blending chutes and extended walkways allow easy access to screen cloth.

A low-maintenance flex shaft screen drive eliminates drive belt influence on the screen motion, belt whip, belt slippage, and spring loaded belt tensioners.

There are no drive adjustments necessary when the screen slope is altered. In addition, the new flex shaft drive folds for travel, without shaft disassembly, to minimise plant transport width.

Terex added that the plant interfaces with cone in-out style plants.

Its other machine, the CRS6203FV, has been designed to “handle applications not possible with traditional horizontal screens because it combines the efficient, high g-force oval stroke motion with variable slope operation”.

In a similar fashion to its other machine the CRS6203FV uses a LJ-TSV6203 variable slope screen that is able to handle larger deck loads and has bigger screen openings that increase throughput and production.

A bottom deck deflector plates shift material towards the feed end of the screen, boosting screen efficiency.

Hydraulic raising modules are able to lift the screen up to 10 degrees in 2.5 degree increments as needed, while its patent pending screens stabilisation system also includes motion dampers.

Under-frame mounted triple-axle spring suspension with spring-applied brakes provides increased stability.

It has a large surge hopper with a remote controlled tipping grid and a variable belt feeder that allows loader feed from either side of the machine for more flexibility in production.

The feed hopper measures 4877mm by 2438 mm and comes with rubber side curtains.

The portable feeder screener has been designed with maintenance in mind, and features conveniently located grease banks, cartridge style cross belt flashing, and Martin style conveyor belt wipers.

Its service platforms and guard rails run around three sides of the screen, and are accessed by a telescoping ladder.

“Plant interfaces with cone in-out style plants and can be configured with or without belt feeder and grid providing high versatility,” Terex said.

However Terex are not the only company to introduce new screens.

CDE Global has released a number of new screens in its ProGrade range, which features new screen design systems.

According to CDE the new screen design system results in a stronger but lighter screen which requires less power.

This is due to a re-design of the side walls on the screens.

The new bolted screens also include zero welds and are galvanised as standard, all of which serves to maximise plant life, maximise plant availability and minimise time required for maintenance.

An additional feature of the new ProGrade screens is the patent pending CDE U-Span cross members.

The new cross member design is modular across the ProGrade range and also include zero welds.

As well as offering enhanced geometric consistency the new design facilitates increased space between screen decks, allowing for quick and easy access to replace screen media.

CDE Global product development manager Kevin Vallelly added that “the first stage of the new ProGrade product launch sees the introduction of our new patented technology on a number of screens and dewatering screens. The developments will also be incorporated on the new EvoWash 100 range of sand washing plants and across the M2500, M3500 and M4500 portable washing plants and the R2500 primary screening unit.”

The new screen design system is now available on the ProGrade P2-75 (two deck 5 meter by 1.5 metre screen), P3-75 (three deck 5 meter by 1.5 metre screen) and P2-108 (two deck 6 metre by 1.8 metre screen).

Over the course of the next few months the new design will also be offered on the ProGrade P3-108 (three deck 6 metre by 1.8 metre screen).

Australian dollar goes under US 80 cents for first time since 2009

Australian-dollar-goes-under-US-80-cents-for-first-time-since-2009-659065-lThe Australian dollar went under US 80 cents this morning for the first time in five-and-a-half years.
AAP reports that the dollar fell as low as US 79.96 cents this morning and was trading at US 80.05 cents at 8:30 am, following the announcement of a 60 billion Euro per month stimulus package announced by the European Central Bank.
The dollar had weakened on Wednesday from US 82.13 to 80.81, reported Fairfax, following a surprise cut in the Canadian interest rate by the Bank of Canada and a drop in that country’s currency.
“The BoC decision has relevant parallels to Australia – namely, a commodity-centric economy with growth slightly below-trend and an inflation pulse that is providing space for some additional easing,” Daniel Been, senior currency strategist at ANZ Bank, told Fairfax at the time.
There were predictions the Australian dollar would head under US 80 cents following the announcement of quantitative easing by the European Central Bank to deal with the region’s weak economy.
European growth is under one per cent and unemployment is at 11.5 per cent.
The bond buying program was worth 60 billion Euro a month until the end of September next year, the ECB’s president Mario Draghi said. This was slightly larger than the 50 billion Euro a month predicted ahead of Draghi’s announcement, according to AAP.

Read more at http://www.ferret.com.au/articles/news/australian-dollar-goes-under-us-80-cents-for-first-time-since-2009-n2520321#557UJMIVihz13RRP.99

ESCO Corporation Adds Foundries In Australia, New Zealand

ESCO Corporation, an Portland, OR-based manufacturer of castings for industrial products used in the resources, infrastructure, power generation, and transportation markets, has purchased two foundries that will pace its expansion into Australia and New Zealand.

Austcast Pty Ltd
, located in Brisbane, Australia, and its Dunedin, New Zealand-based subsidiary Newlcast, were acquired in efforts to “strengthen ESCO’s product offerings and expansion efforts” by providing local foundry capacity, according to a release.

Austcast manufactures high-integrity steel and specialized alloy irons for the mining, rail, and general engineering industries. As part of ESCO, Austcast will continue to manufacture rail products and will “adjust operations in 2011 to include ESCO’s industry-leading ground engaging tools and other mining and construction wear parts,” according to the announcement marking the acquisition.

The foundry in Brisbane includes molding, melting and heat treating capabilities, as well as a pattern shop and non-destructive testing. Newlcast supplies ferrous castings, a variety of steels, and alloy irons. Both sites employ nearly 100 workers.

The addition of these foundries is another step in ESCO’s efforts to permeate the markets just this year, the company explains. In July, ESCO acquired Swift Group, a designer and producer of mining, infrastructure, and agricultural products with locations in Brisbane, Mackay, and Kingaroy. In October, ESCO selected Mine & Quarry Service Company Pty as its distributor in the region.

“Our acquisition of Austcast is a key development in ESCO’s plan to establish a national sales, supply chain, and manufacturing network in Australia, and will further our efforts to deliver quality, value, and speed to our customers on a global scale,” stated Cal Collins, president of ESCO engineered products.