NEWSLETTER – JANUARY 2017

January 2017

NEWSLETTER – JANUARY 2017

The copper metal market stabilized after a significant run up in November following news from China that demand was stronger than expected, supply was tighter than expected, and optimism that demand would be strong in the US due to infrastructure spending. This led to prices increasing 15%-20% above what analyst had projected for the start of the 2017 price. Where will prices go from here and what is the impact on our Copper Sulfate? First quarter typically sees prices move up as demand for the metal increases as companies use copper in manufacturing. It’s possible this year we have seen the increase early. We simply don’t know and the best thing to do is not bet on the market. Some grades of Copper Sulfate are getting tight as customers take inventory for the season and it’s best to make sure you are covered.

 

As reported in the December newsletter zinc remains the hottest metal. Zinc metal is up 75% since last January 2016! Obviously that impacts Zinc Sulfate and Zinc Oxide prices. The reports we see indicate zinc prices haven’t peaked. If you need Zinc Sulfate or Zinc Oxide buying earlier than later seems to be a good decision.

 

Once again we thank our customers for the honor to work with you on your product needs. We remain optimistic for 2017. We are here to assist you in meeting your JIT needs and also your well planned requirements whether that’s LTL or truckloads. We have a long list of products we stock in Houston (product list) along with our core products. Although our branded Copper Sulfate (link to pictures) is our main product we have key relationships with manufacturers to represent them in the US on those select core products.

 

Chem One will be closed January 2nd we would like to wish you all a Very Happy New Year.

 MARKET NEWS

 

Decreases:

 

Isocyanuric Acid granular and powder
Magnesium Sulfate (Epsom Salt)
Potassium Acetate

 

Increases:

 

Sodium Erythorbate
Sodium Hydroxide flake
Sodium Sulfide flake
Sodium Thiosulfate Pentahydrate and Anhydrous
Zinc Oxide
Zinc Sulfate

 

Other:

REGULATORY NEWS

 

As we watch January arrive so does the list of reporting requirements that have to be completed in the coming months for us and many of our customers.

 

OSHA 300 is one many of you are familiar with however there is a key change in 2017.

 

The new rule, which takes effect Jan. 1, 2017, requires certain employers to electronically submit injury and illness data that they are already required to record on their onsite OSHA Injury and Illness forms. Analysis of this data will enable OSHA to use its enforcement and compliance assistance resources more efficiently. Some of the data will also be posted to the OSHA website. OSHA believes that public disclosure will encourage employers to improve workplace safety and provide valuable information to workers, job seekers, customers, researchers and the general public. The amount of data submitted will vary depending on the size of company and type of industry.

 

The new reporting requirements will be phased in over two years:

 

Establishments with 250 or more employees in industries covered by the recordkeeping regulation must submit information from their 2016 Form 300A by July 1, 2017. These same employers will be required to submit information from all 2017 forms (300A, 300, and 301) by July 1, 2018. Beginning in 2019 and every year thereafter, the information must be submitted by March 2.

 

Establishments with 20-249 employees in certain high-risk industries must submit information from their 2016 Form 300A by July 1, 2017, and their 2017 Form 300A by July 1, 2018. Beginning in 2019 and every year thereafter, the information must be submitted by March 2.

 

Compliance schedule per OSHA’s website for further information please visit; https://www.osha.gov/recordkeeping/finalrule/index.html

 

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