A MARKET UPDATE for November, 2011

Contact:

The Chemical Company
P.O. Box 436
44 Southwest Ave.
Jamestown, RI 02835
Phone: (401) 360-2800
Website: thechemco.com
Email: Info@thechemco.com

Special Message from Nick Roach CEO:

Season’s Greetings!! Already????

November is a great month! Not only do we begin the now massive build up to Christmas and Hannukah, but we get to give Thanks for the blessings of years past
and present.

All of us at TCC enjoy this season of relaxation, food gorging, and quality time with family and friends. My family enjoys the typical Thanksgiving dinner of turkey, mashed potatoes, gravy then apple, pecan, and pumpkin pies. The food is always fantastic but it is even better to sit around the table and take time out to be Thankful for what we have in this wonderful country.

TCC also makes an effort during this time of year to help others with donations and personal efforts. Everyone in our company believes that it’s important to share in life and we make a concerted effort to do so. The employees at TCC are very special and want to help their communities. We could write pages about what is done by this great group, but this is nothing you should brag about, we feel it’s just what good people do.

We are committed to a better world just like we are committed to giving you, our customer, the highest quality product, delivered safely and at the most competitive price.

When you work with The Chemical Company you can be sure we appreciate your business and in doing so you’re also part of our gifting and stewardship. We truly appreciate your business, because it allows us to give thanks and help the world.

Happy Thanksgiving from all of us at TCC!

TCC Video:

http://www.vimeo.com/24834423

TCC News:

We are pleased to announce that Tom Ultsch has accepted a new sales manager position. Tom will take over as Product Manager of TCC Methanol. Please contact Tom at (724) 344- 4878 or at Tom@thechemco.com to discuss your methanol requirement.

Welcome John Moriarty! John has joined the TCC Customer Expert Staff and will begin with Urea Customer Service as well as China logistics and sales support.

Want to exchange links?? Contact us!

Be sure to follow us on our new facebook page here:

Habla Español??? The TCC website is now in Spanish!

Upcoming Events:


INFORMEX New Orleans, LA (February 14th – 17th 2012)

NPRA 2012
April 1-3, 2012 San Antonio, TX

NPE International Plastics Showcase
April 1-5, 2012 Orlando, FL

TCC Downloadable Brochure:

The Chemical Company Brochure

TCC Plasticizers and Plastics Additives

New Products In Stock

Sydol 61 Silane 850 Kg. Totes and 250 Kg. Drums
Zinc Borate 25 Kg. Bags
Citric Acid: 1,000 Kg. and 25 Kg. Bags (In Stock and Available Now!)
Dicyandiamide: 25 Kg. Bags (In stock and available now!)
Dibenzoate Esters: Bulk, Semi-bulk, Totes and Drums
Melamine and Melafine Crystal: 1,000 Kg., 500 Kg. and 25 Kg. Bags (In stock and available now!)
Malic Acid: 25 Kg. Bags (In Stock and Available Now!)
Maleic Anhydride Briquettes: 25 Kg. Bags (In Stock and Available Now!)
Maleic Anh briq CofA
Acetyl TriButyl Citrate: 1,000 Kg. Totes and 250 Kg. Drums (Our NatureFlexx 509 is in Stock and Available Now!)
Adipic Acid: 25 Kg., 500 Kg. and 1,000 Kg. Bags (In Stock and Available Now!)

Products In Transit/ Available Soon

Succinic Acid 25 Kg. Bags
Antimony Trioxide (High Tint, Supersacks)

New/ Updated Technical Information:

ChemFlexx DiOctyl Adipate
Fumaric Acid
Dicyandiamide
Adipic Acid
Diisononyl Phthalate
Epoxidized Soybean Oil
Malic Acid
ChemFlexx TOTM
Tartaric Acid

New Products:

ChemFlexx Dibenzoate Esters are a non-phthalate, primary, high solvating plasticizer for Polyvinyl Chloride (PVC). Used to improve the performance of or replace ortho-phthalate plasticizers, these esters can increase your processing speed and lower processing temperatures.

Melamine Crystal and Melafine Powder is an organic compound that is often combined with formaldehyde to produce melamine resin, a synthetic polymer which is fire resistant and heat tolerant. Melamine resin is a very versatile material with a highly stable structure. Uses for melamine include whiteboards, floor tiles, kitchenware, fire retardant fabrics, and commercial filters. 

Melamine can be easily molded while warm, but will set into a fixed form. This property makes it ideally suited to certain industrial applications.

Succinic Acid is a dicarboxylic acid comprised of four carbon atoms. The chemical is produced as a colorless crystalline solid and is used in the drug, agriculture, food products, and other industries.

NP 500 Non-Phthalate Plasticizer Non-phthalate plasticizer to replace general purpose phthalate plasticizers like DOP, DOTP and DINP. Drums, Totes and Bulk Available.

NP600 Non- Phthalate Plasticizer Non-phthalate plasticizer to replace the general purpose phthalate plasticizers DIDP. Drums, Totes and Bulk Available.

NatureFlexx 509 100% Phthalate Free General Purpose Plasticizer! This high molecular weight plasticizer is an excellent, phthalate free replacement for general purpose phthalate plasticizers like DINP, DOP, DOTP, Etc. Drums, Totes and Bulk Available.

Malic Acid A subtle and persistent sour in food applications as well as an excellent acidulant. New technical applications are being discovered as well. Food and Technical Grade material is in stock and immediately available. Packaging is 25 Kg. Bags, 2,000 lb. Supersacks and a 50% solution.

Please contact Robb Roach at robb@thechemco.com
or Tel: (401) 423- 3100 for more information.

We appreciate your taking the time to review this newsletter. We welcome your comments as well as contributions regarding our readers’ company/industry activities. Please send them to Bob Beavins at chemcobob@comcast.net

**Please note that all products are now in Alphabetical Order and many products are hyperlinked to their own
information page.**

At the end of each paragraph you will notice a symbol and the meaning of these symbols are as follows:

+ Denotes upward pricing momentum
\ Denotes stable pricing momentum
– Denotes downward pricing momentum

CRITICAL RAW MATERIALS MARKETS

Benzene U.S. benzene contracts for November settled
down at US$3.15/ gallon , which is down from US$3.33/ gallon in October. Based on
current oil pricing this trend is not sustainable. –
N Butane Butane prices have been holding steady in
the low $1.80/ gallon range. Winter is typically the heavy demand season keeping price steady despite lower ngl pricing.
Natural Gas Spot prices reported down to ~$3.40/MMBtu
in the Northeast. Pricing has steadily declined from $4.50 in August. Futures reported slightly down. –
Oil Current price in the $100- 102.00/ bbl range.
+Check thechemco.com for up to the minute info.
Orthoxylene November contracts settled down $.05/ lb. to
$.60/ lb. –
Propylene November contracts settled down $.06/ lb. at
$.58 for Polymer Grade and $.565 for Chemical Grade. –

CHEMICALS MARKETS

Adipic Acid: Adipic Acid pricing has moved lower on
stable supply and weak demand. Down stream demand for PU demand is bleak especially in China. Massive new capacities in China have started to swamp their market and with anticipated new capacities this trend will continue. -For more information please contact Robb Roach at robb@thechemco.com
Ammonia: November business for Tampa is at $705/
metric ton C&F and $612/ short ton for at NOLA. Gas curtailments in Trinidad are a major concern and are keeping inventories snug. +For more information please contact Robb Roach at robb@thechemco.com
Ammonium Nitrate: AN prices have increased on excellent
demand and higher raw material pricing specifically ammonia. +For more information please contact AJ Petrarca aj@thechemco.com.
Antimony Trioxide: The antimony market has been quiet and moved lower although pricing remains very high. Buyers are still keeping inventories to a minimum with prices depressing. Prices are expected to move lower as demand slips
for the holiday season. –
For more information please contact AJ Petrarca aj@thechemco.com.
Dicyandiamide: Pricing remains inflated as production costs are high and availability limited. Calcium Carbide is a major raw material to Dicyandiamide production and vast amounts of energy are needed to produce it thus it is being strictly controlled by the Chinese Government. Prices have stayed inflated through summer. Demand has been very good for fertilizer and flame retardant applications and inventories are tight. Product is in stock and immediately available. +For more information please contact AJ Petrarca aj@thechemco.com.
Epoxidized Soybean Oil: Both domestic and import pricing has
stabilized. Producer margins are slim due to higher soy bean pricing. /For more information please contact Robb Roach robb@thechemco.com
Fumaric Acid: FA Pricing has stabilized on better
availability and more stable maleic anhydride pricing. Butane has been in the $1.80+/ gallon range lately steadily climbing over the last month. /For more information please contact AJ Petrarca aj@thechemco.com.

Glycol (Mono, Di and Tri):

MEG – Increase Announcements for October got mixed results. Demand is slow and export opportunities have dried up. MEGlobal benchmark is $.66/ lb. down from $.72 in October. Spot pricing is in the $.50/ lb. range. –

DEG- The DEG market is seeing weak demand and over supply. Spot is in the $.45/ lb. range. MeGlobal Benchmark is now $.61/ lb. down from $.64/ lb. –

TEG- Demand is still very slow. Spot offers are in the low eighties range. –

For more information please contact Robb Roach at robb@thechemco.com

Isophthalic Acid: PIA pricing has moved lower following energy costs. -For more information please contact Robb Roach at robb@thechemco.com
Maleic Anhydride: Maleic Anhydride supply is balanced to long as UPR demand is extremely soft and destocking is noted. Prices are holding steady. Butane is now in the US$1.80/ gallon range down slightly from October but is expected to increase with the onset of winter. No announcements yet for December. /For more information please contact AJ Petrarca aj@thechemco.com.
Melamine: Melamine availability is balanced to long and prices remain at familiar levels with some better deals noted. /For more information please contact Javier Fernandez Javier@thechemco.com
Malic Acid: Malic Acid supply has improved but
long lead times continue. TCC has Malic Acid in stock and available. /For more information please contact AJ Petrarca aj@thechemco.com.
Methanol: The Methanex Non-Discounted
Reference Price for November has rolled over at US$1.38/ gallon. Spot pricing has stabilized and demand is weak in North America. Spot pricing is currently approx. $1.09- $1.12/ gal. /For more information please contact Robb Roach at robb@thechemco.comNotes:Rumors are swirling that Methanex will move at least 1 plant from Chile to the U.S. Gulf Coast.Buyers are frustrated with the large and lengthy gap between spot and contract.Methanex has shut down their Egyptian plant. Details are not yet available.Gas Curtailments in Trinidad has hampered production by a minimum of 25% for all plants. This is expected to last into early November.

The YPF plant in Argentina has been down for a 30 day planned outage starting October 15th and should be back up and running as of mid-November.

Nitric Acid: Nitric Acid pricing is being pressure by feedstock/ ammonia pricing. Demand is good. /For more information please contact Robb Roach at robb@thechemco.com
Phenolic Resins: Phenol remains tight and availability is the key issue. Formaldehyde prices have stabilized with recent Methanol nominations. /For more information please contact John Santini at john@thechemco.com
Phthalic Anhydride: Phthalic pricing will decrease by $.05/ lb. in
December in line with orthoxylene pricing. -For more Information please contact Javier Fernandez at javier@thechemco.com

Plasticizers and Plasticizer Alcohols

Plasticizer demand world wide is slower but steady. Plasticizer alcohol demand has very flat and prices have moved lower especially branched.

Some weakness in the global economy and the recent price drop of propylene and ethylene has affected price in recent months.

Branched alcohols supply is balanced but linear alcohols remain tight.

Orthoxylene pricing has dropped by 5 cts/ lb. in November.

– /

For more information please contact Forest Goodman at forest@thechemco.com

Note: Some plasticizers have limited availability. Please contact TCC for further details.

TCC Plasticizers available:

Non- Phthalate:

ChemFlexx Dibenzoate Esters
“ChemFlexx NP 500” Non- Phthalate Replacement for General Purpose Plasticizers
“ChemFlexx NP 600” Non- Phthalate Replacement for DIDP
NatureFlexx 509” Phthalate Free General Purpose
Epoxidized Soybean Oil
ChemFlexx TOTM (TriOctyl Trimellitate)
ChemFlexx DOA (DiOctyl Adipate)
8 10 Trimellitate

Phthalate:

DINP (DiIsononyl Phthalate)
ChemFlexx 206” Linear Phthalate Plasticizer
“ChemFlexx 208” Low Temp Linear Phthalate Plasticizer
DOP (DiOctyl Phthalate)
DUP (DiUndecyl Phthalate)
DMP (DiMethyl Phthalate
ChemFlexx DOTP (DiOctyl Terephthalate)
Brominated DOP
ChemFlexx 9 11 Phthalate

Styrene monomer: Styrene Pricing will drop slightly for
December in line with lower benzene values. Demand has also been slow. –For more information please contact Robb Roach at robb@thechemco.com
Urea: Urea prices have stabilized and moved
marginally lower in just the last week. Demand is weak and expected to stay weak until Q1 when seasonal demand kicks in. Granular barges are pegged at $470- $475/ ton and prilled at a Net $0- $2.00/ ton
premium. /
For more information please contact Robb Roach at robb@thechemco.comNotes:Urea demand for Diesel Exhaust Fluid is expected to significantly increase over the next two years.
Zinc Borate: Pricing has been relatively steady but
demand has increased as consumers scramble to replace a portion of their Antimony Trioxide usage. Product is in stock and immediately available.

For more information on these or any of the products and services provided by TCC please contact Robb Roach directly at Robb@thechemco.com or go to our web site at thechemco.com

CHEMICAL INDUSTRY NEWS
The National Petrochemical & Refiners Association (NPRA) is to change its name in January to the American Fuel & Petrochemical Manufacturers. The name change puts emphasis on the fact that the nation’s refiners and petrochemical producers are “American and manufacturers” according to association president Charles Drevna.

The American Chemistry Council (ACC) reported that chemical production was flat in September, following an adjusted 0.1% August decline. Compared to September 2010, total chemical production in all regions was up 1.2% and remained ahead year-over-year in all
regions except the Gulf Coast. Chemical output remains below its pre-recession peak despite the rising competitiveness of US chemicals related to new supplies of shale gas.

The ACC has asked the Food and Drug Administration (FDA) to revise certain regulations on BPA to clarify for consumers that BPA is no longer used to manufacture baby bottles and sippy cups and will no longer be used in the future.

Security provider Symantec Corp. reported that computer hackers struck 29 chemical companies in attacks this summer. The targets were not identified by name, but included multiple Fortune 500 companies. A Symantec spokesman stated that the purpose of the attacks appeared to be industrial espionage, collecting intellectual property for competitive advantage. Homeland Security Department officials have pointed to the potentially catastrophic effect of such an attack on important facilities.

On October 12, Congress approved the free trade agreements with South Korea, Colombia, and Panama with large bipartisan majorities. The House also passed a program paired with the free trade agreements that would provide financial aid and retraining assistance for US workers who lose their jobs due to trade; the Senate had already approved the measure. The three agreements may increase exports by as much as $13 billion a year.

Adding pressure on the EPA to relax its pollution rules, 25 states urged a federal court on October 10 to require the agency to delay a rule on mercury emissions and other pollutants from power plants by at least a year, saying the measure is too costly. The EPA is under court order to finalize the maximum achievable control technology (MACT) rule for utilities on November 16. The states want to delay the finalization of the rule until at least November 16 next year.

EPA Administrator Lisa Jackson said that her agency is about to weigh in on the State Department’s favorable environmental analysis of the proposed Keystone XL oil sands pipeline. Some environmental groups have objected to the $7 billion, 1700 mile pipeline designed to bring crude oil from Alberta’s huge oil sands projects to Gulf Coast refineries.

The US House voted in October to exclude US airlines from an emissions cap and trade program that the European Union intends to impose on all airlines flying to and from the continent beginning next year. The Senate is expected to agree. The measure directs the
transportation secretary to prohibit US carriers from participating in the program.

An American Petroleum Institute report said that the US-based oil and natural gas industry invested $108 billion in greenhouse gas (GHG) mitigating technologies, including the development of shale gas, and $71 billion without shale gas investments. Other US-based private industries invested $74 billion and the US government invested $43 billion during 2009-2010.

Royal Dutch Shell is examining building a liquefied natural gas (LNG) export facility in Canada in order to take advantage of low gas prices in the US relative to the rest of the world.

Methanex is working on a project to relocate a methanol plant in Chile to the US Gulf with the main attraction being low natural gas prices.

On October 21 the European Chemicals Agency published a preliminary list of 91 hazardous substances for priority risk evaluation under the European Union’s REACH law. The substances were selected from information submitted to the agency by November 30, 2010. The deadline applied to chemicals manufactured, or imported into, the EU in annual volumes of 1000MT or more. The ECHA said that their objective is “clarification” of risks.

US chlor-alkali operating rates for August were reported at 93% of capacity, higher than July’s 90%.

Styrolution, a joint venture between BASF and INEOS started operating as an independent company on October 1. The new company has annual sales of €6.4 billion. Styrolution has monomer production assets in North American and Europe, with polymer capacities in the US, Mexico, Europe, India, Thailand, and South Korea.

SABIC reported a third quarter net income of $2.18 billion, an increase of 54% year-on-year.

DuPont was awarded $919 million in damages from Korean firm Kolon for stealing trade secrets and other confidential information regarding Kevlar.
Dow and Saudi Aramco announced the signing of a joint venture agreement establishing Sadara Chemical Company. Production start-up is expected in the second half of 2015.

A lawsuit filed by Greenpeace International claiming that the Dow Chemical Company and Sasol North America spied on its operations was dismissed in US District Court.

Lanxess acquired Unitex Chemical of Greensboro, NC. The facility has a capacity of more than 50,000 MT/year phthalate-free plasticizers and other specialty products, including flame retardants.

German unemployment was reported at 6.5% in October. German business confidence has fallen for the past four months but remains relatively high. The government is forecasting economic growth of 2.9% this year and recently cut its 2012 forecast from 1.8% to 1.0%.

Germany’s economy, at $3 trillion in 2010, is half again as large as those of its nearest rivals, Britain and France. Misgivings about a larger German role in Europe have been apparent both inside and outside the country.

The International Monetary Fund (IMF) has projected that European GDP growth will slow from 2.3% to 1.8% in 2012. Inflation is seen to decline from 4.2% in 2011 to 3.1% next year.

ConocoPhillips announced that it was beginning the process of idling its Trainer, PA refinery, which is near the Sunoco Marcus Hook refinery, also scheduled for shut-down. If no buyer is found for the Trainer operation, it will be permanently closed within six months. Simpler refineries are facing the need for significant investment to meet new fuel standards, particularly lower sulfur content heating oil in the Northeast.

LyondellBasell has not found a buyer for its Berre refinery in France, and plans to cease refining operations there, but will continue to operate a cracker and polyolefin operations.

It was reported that Saudi Arabia will not move forward with additional crude oil production capabilities based on the plans for increased output in other countries.

It appears that some politicians are beginning to realize that government mandates for the use of ethanol in gasoline are causing
problems, e.g. food versus fuel. New legislation in the House proposes changing the percentage of “renewable fuels” that are now strictly mandated. The current tax break of $.45 for every gallon of ethanol blended with gasoline is expected to be killed by congressional budget cutters.

The Association of American Railroads reported that carload volume was up 1.7% in October. Shippers continue to turn to intermodal as an alternative to trucking movements, as they can see significant fuel savings in exchange for a longer transit time.

The five busiest container ports in the US said that imports in August 2011 were lower than or even with 2010 volumes, which raised concerns about the upcoming holiday season.

The American Trucking Association reported that tonnage increased 5.9% in September from a year ago, the 22nd straight month of year-over year improvement.

Shale gas-related news:

With its huge Marcellus Shale gas deposits, Pennsylvania has seen the greatest impact on its economy and governance: The Department of Environmental Protection has released new emission standards for drilling in the state. Directly-related jobs increased from 9,520 in 2008 to 20,387 in 2011.

On November 2 a Pennsylvania House panel approved a bill to levy fees on natural gas drilling, which will create an opportunity to increase state revenues and to tighten regulations.

The EPA said on October 20 that it wanted to develop national standards for the disposal of polluted wastewater from shale gas drilling. This puzzled Pennsylvania officials, who said that operators had already halted discharges. The president of the Marcellus Shale Coalition said that “this is yet another Washington solution in search of a problem.”

Louisiana could see an additional 35,000 jobs because of the gas boom; West Virginia economists foresee 19,000 new jobs.

Development of Utica Shale deposits in New York State continues to be held up and final rules may make large-scale drilling impossible.

The Interior Department plans to issue a proposal soon forcing companies to reveal the chemicals used in the fracking process on
federal lands. About 14% of US natural gas production occurred on federal land during the last fiscal year.

THE ECONOMY

The Congressional Budget Office estimated that the federal budget deficit was about $1.3 trillion in the fiscal year ended September 30, 2011, approximately the same amount as the 2010 shortfall. The 2011 deficit was equal to 8.6% of gross domestic product, down from 8.9% in 2010 and 10% in 2009, but greater than any other year since 1945.

Personal income increased $17.3 billion, or 0.1% and disposable personal income (DPI) increased $12.9 billion or 0.1% in September according to the Bureau of Economic Analysis. Real disposable income decreased 0.1% in September, compared with a decrease of 0.2% in July.

The Bureau of Economic Analysis reported that third quarter 2011 Gross Domestic Product increased at an annual rate of 2.5%, that is, from the second quarter to third quarter. Revised data show that GDP increased 1.3% in the second quarter. Current-dollar GDP, the market value of the nation’s output of goods and services increased 5.0% or $185.8 billion in the third quarter to a level of $15,198.6 billion. Second quarter increase was reported as 4.0% or $145.0 billion.

The Conference Board’s Leading Economic Index increased 0.2% in September to 116.4 (2004=100) following a 0.3% increase in August and a 0.6% increase in July. A spokesperson said the LEI points to soft economic conditions through the end of 2011.

The Conference Board Consumer Confidence Index which had improved slightly in September, declined in October. It stands at 39.8 (1985=100) down from 46.4 in September.

The Institute for Supply Management’s Manufacturing Index registered 50.8% in October, a decrease of 0.8% from September’s 51.6% indicating expansion in the manufacturing sector for the 27th consecutive month. A reading above 50% indicates that the manufacturing economy is generally expanding. The Non-Manufacturing Report for October was 52.9%, lower than September 53.0% and indicating continued growth at a slightly lower rate.
In September, retail and food services sales adjusted for seasonal variations were $395.5 billion, an increase of 1.1% from August, and 7.9% above a year earlier. Total sales for the July – September 2011 period were up 8.0% from the same period a year ago.

Privately owned housing starts in September of 658,000 were 15.0% above the revised August estimate of 572,000 and 10.2% above the September 2010 rate of 597,000. Single family housing starts in September were at a rate of 425,000 or 1.7% above the revised August figure of 418,000.

According to the National Association of Realtors, sales of existing homes in September were up 11.3% from a year earlier.

New orders for manufactured durable goods in September decreased $1.5 billion or 0.8% to $200.3 billion. This decrease, down three of the last four months, followed a 0.1% August decrease.

September unfilled orders for manufactured durable goods, up seventeen of the last eighteen months, increased $6.9 billion or 0.8% to $885.3 billion and followed a 0.8% August increase.

Consumer Price Index increased 0.3% in September. In the last twelve months, the index for all items increased 3.9% before seasonal adjustments. Over the past 12 months the energy index has increased 19.3%. The gasoline index rose 1.9% in August, and has increased 33.3% over the past twelve months.

The Producer Price Index for finished goods rose 0.8% in September, seasonally adjusted. Prices were unchanged in August, following 0.2% increase in July. On an unadjusted basis, prices for finished goods increased 6.9% for the 12 months ended September 2011.

Interest rate: Prime at 3.25%, unchanged since 12/16/08.
Inflation: Inflation rate in September increased to 3.9%
following August 3.8%. Average for the year projected at 3%+, up from 1.5% in 2010.
Unemployment: October 9.0%, virtually unchanged from
September’s 9.1%. Since April the rate has held in a narrow range between 9.0 and 9.2%. The Bureau of Labor Statistics reported that the long-term unemployed, i.e., jobless for 27
weeks and over declined to 42.4% from 44.6% reported for September.
The Federal government payroll continued to climb; the number of federal employees has grown 12% since December 2007.
Trade Deficit: For August 2011 the goods and services
deficit was virtually unchanged at $45.6 billion as exports and imports decreased.
Crude Oil: Prices rose after declines in September. WTI
spot and future prices ~$95/bbl. Libyan production was expected to be back on line. Recent large discoveries in Norway could be the third largest in the country’s history. Approval has been received to proceed with oil and gas projects in the UK, west of the Shetland Islands.
Natural Gas: Prices continued to fall during the first week
of November, with slight upticks in the Northeast due to the early snowfall. Working natural gas in storage is above the five year average. Marcellus shale production is predicted to increase.

Industrial production in September rose 0.2% after having been unchanged in August. For the third quarter as a whole, industrial production rose at an annual rate of 5.1%. It was 3.2% above its level of a year earlier and was 94.2% of its 2007 average.

September capacity utilization rate for total industry was at 77.4% up from August 77.3% and 1.7% above the rate a year earlier but 3.0% below 1972 – 2010 average.

The US dollar trading at 78.07 Japanese yen; $1.38 = euro. The British pound sterling = $1.59. Canadian dollar trading at US$1.01

Current US gold price reported as $1750/ounce compared to the record price of $1890/ounce on August 22.

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