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Nickel Price Remains Strong

By
Mary Elizabeth Smith
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Nickel Price Remains Strong

1.Continuous decline in refined nickel stocks.
Due to the rapid development of new energy vehicles, the market is very optimistic about the application of high nickel ternary materials in the future. This has led to a sharp increase in demand for Ni sulfate, especially the high premium of Ni sulfate to metal, which has attracted the attention of the nickel industry giants. For example, BHP plans to produce Ni sulfate in Australia, and Norilsk has signed a partnership agreement with BASF to expand production of Ni sulfate.In domestic, Jinchuan Group also intends to reduce metal nickel production and increase Ni sulfate production. In addition, private enterprises such as Tianjin Maolian, Yantai Keshi and other private enterprises are also planning to stop producing metal nickel to produce nickel sulfate.

However, as most of the above-mentioned enterprises switch to production by smelting intermediate products for nickel sulfate production. Against the background of tight supply of intermediates due to the lack of new potential of nickel sulphide ore resources,there are also some enterprises that choose to use refined nickel stocks for sulfate production. In particular, stocks of nickel beans in LME stocks were down nearly 21000 tonnes from the end of January on Friday, of which 19000 tonnes were nickel beans. Moreover, the modification of import tariff on refined nickel in 2018 in China has also promoted the import demand of domestic enterprises, especially Australia and Madagascar, the major producers of nickel beans and enjoy a zero MFN tax rate. Imports from Australia surged in November 2017, reaching 10, 000 tonnes in December and 8519 tonnes in January, an increase of 930, 000 tons from a year earlier. With the gradual consumption of nickel beans in the future, the long-term accumulation pattern of nickel beans in the world will be changed.With the gradual consumption of nickel beans in the future, the long-term accumulation pattern of nickel beans in the world will be changed.

2.The substitution effect of Ni-Fe is prominent.
PT Sulawesi Mining Investment approved 6 million wet ton nickel export quota, the company is a joint venture between Ding Xin Group and Indonesia’s eight Star Group. So far, Indonesia has approved a total of 34.39 million wet tons of nickel ore quotas, and there will still be new quota approvals in the future.Indonesia exported only 4.33 million wet tons last year, that means Indonesia’s nickel exports are expected to exceed 30 million wet tons in 2018.

http://www.chtitanium.com

Functions Of Excise Authorities And Customs

By
Mary Elizabeth Smith
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Functions Of Excise Authorities And Customs

The customs and excise authorities assess and collect the customs and excise duties levied by the government as an important source of revenue. The customs and excise authorities that the amount of certain imports does not exceed the quota or limit allowed to be imported within a specified period. Quotas are imposed to protect the local manufacturers from foreign competition and only a limited amount of foreign goods will be allowed into the domestic market to compete with the locally manufactured goods.

One of the functions of the customs is to keep statistical records of exports and imports to and from foreign countries to indicate trends in respect of quantities and values traded. Customs declaration forms have to be completed for goods imported and exported, whether dutiable or non-dutiable. These forms enable the customs and excise authorities to see at a glance what goods should be taxed and what should not. The collection of custom duties is needed as vital information in order to ascertain the volume, as well as the direction of trade with each country and with the world as a whole. The information is needed by the government as it indicates the performance of the country in international trade. That’s the balance of payments and trade.

This information is also needed by the traders as it helps them to ascertain the needs of consumers and assess the effects of government trade policies. Prevention if smuggling of prohibited goods is another function of customs and excise duties. Excise authorities and customs police all points of entry into the country, especially the coastal area to prevent contraband goods like dangerous drugs from earning the country illegally or dutiable goods entering or leaving the country without the payment of duty. Through their activities the Customs and Excise Authorities are able to save a great deal of government revenue which otherwise would have been lost through illegal transactions.

The last but not the least function of Excise Authorities and Customs is to control the bonded warehouses. They control bonded warehouses where dutiable imports are stored until duty on them has been paid by the importer. Dutiable imports meant for re-export may also be kept in the bonded warehouse so as to avoid the payment of customs duty upon entry and exit. However, if duty on such imports has been paid, a refund called customs drawbacks can be claimed by the importer when these goods are re-exported.

Australian Bluestone Vs Imported Bluestone

By
Mary Elizabeth Smith
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Australian Bluestone Vs Imported Bluestone

Australian Bluestone has a very good reputation as a high quality product. It has a particular shade of grey/blue which is unique and has a low iron pyrite content which means it does not experience much or any colour change over a period of time. From a durability perspective there is no practical difference between imported and local Bluestone. It is useful to listen to David Attenborough’s YouTube video on the formation of Basalt (which we call Bluestone in Victoria) to gain a broader understanding. The price of Australian Bluestone is much higher than the imported varieties.

Some re-sellers like to report they are selling Australian Bluestone and give it a local name of one of our South Eastern Melbourne suburbs, however there is no Bluestone quarry in this area and the product sold is usually Chinese. Buyer be beware!

Most good Bluestone is usually imported from China, although there are some imports from Vietnam. The quality, cut, colour and porosity of the Chinese material is as good as the best in the world. The author of this article selected Chinese Bluestone for his own home.

Another major advantage of the Chinese Bluestone is price, it represents outstanding value for money, and provides an excellent long term investment due to the durability of the stone.

About Bluestone

Bluestone is the local Victorian name for Basalt, which means a volcanic rock. Bluestone is a very hard and durable stone. It has many qualities making it an outstanding paving solution. There are also many different qualities to examine before buying your Bluestone, (in other words not all bluestone is the same).

  • Colour. The colour of bluestone varies, and this also helps determine the final price. Generally the attractive blue/grey type costs a little more than the flat grey varieties.

  • Type of finish. The surface of the bluestone tiles can be sawn which leaves it with a rougher and more non slip surface. It can also be honed which makes it smoother and generally brings out the dark colours. Bluestone can be honed right up to a semi polished or polish finish, due to the inherent hardness of the stone.

  • Distribution of “cats paw.” Bluestone has little holes in the surface which were created as the hot volcanic rock cooled down. Some types of Bluestone are very compact (without any small holes); although this is not always considered an advantage aesthetically as the final result may be too plain for some applications. Cats Paw is a word used to explain a pattern of slightly larger holes running through some of the tiles and is generally considered very attractive when it is present in the right quantity.

  • Thickness. The thickness of the stone helps determine its longevity, after it has been fixed into position. Some companies will suggest a 15mm thick Bluestone for exterior use, however we suggest 20mm should be the minimum thickness for external use. 20mm Bluestone tiles perform well in driveway applications and general landscaping as its additional thickness and therefore strength, allows for expansion and contraction and improved impact resistance. We also stock 30mm tiles for commercial applications, when a thicker tile is required.

Bluestone is used effectively for driveways, patios, pool surrounds and interior applications. Bluestone is a traditional stone and has been used in Melbourne since our inception and due to its colour and quality is used extensively in modern building applications.

Why Everybody’s Wrong About Credit Scores

By
Mary Elizabeth Smith
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0
Why Everybody’s Wrong About Credit Scores

Today’s 550 credit score may very well have been yesterday’s 780 credit report.

When I look at a credit report, it amazes me that I am struggling to qualify borrowers that once had very high credit scores. Most once had six figure incomes with a credit report well above 700. These factors put these borrowers into A paper categories.

Take Robert, a real estate investor who has borrowed millions of dollars over the years. With a credit score near 800 and a solid record for paying his bills on time, lenders lined up for borrowers like Robert. I was personally involved with him for over ten years.

What happened? Like many others, Robert fell victim to the economic times. No, he didn’t overspend and when he called me last week, I knew he’d never taken equity out of his properties. Robert was conservative. He kept his rents under market in order to keep tenants long term.

He negotiated hard with me for long term fixed rates on his mortgages and when he was faced with an ARM, quite common for commercial properties, he worried for days before committing.

What do you do when your largest tenant files bankruptcy?

What do you do when they can’t pay but continue to occupy the buildings for months as the courts sift through mounds of paperwork? Imagine the feeling you would get deep in your stomach… This is what happened to Robert.

Without income he continued to debt service his properties until his savings ran very low. With the promise of a solution just around the corner, he finally tapped his credit lines. Credit cards with high interest rates, but also with huge limits. After all, Robert needed $25,000 per month just to pay the mortgages.

When he came into my office, I noticed he’d lost weight. The kids were still in college, he told me, but they had to get loans in order to finish. His wife went back to work and they moved from a custom home on the hill to a tract home in town.

He was still playing golf and smiled easily when he spoke of his sleepless nights and I could almost see a tear form when he talked about the kids.

“I should have stopped paying before I tapped my savings, but I just felt I had to make the payments.” he said.

Robert, like many of us, wanted to do the right thing. And that meant to pay-regardless of personal misfortune. Robert tried to satisfy his other debts too, but he was building an avalanche of debt by trying to do the right thing.

Finally, he couldn’t sustain the financial onslaught any longer and after conceding, he let his properties go. One by one, he lost them as tenants tossed in the towel along with their keys. Some major companies, whom I won’t mention by name, took down one family.

I like Robert-always have and to me, he’s still the same man I met ten years ago. He’s honest and a good dad. Although we don’t travel in the same circles, I imagine he’d be an excellent friend. I know his wife loves him and it got me thinking about people and their credit report and the debt they accumulate.

Do individuals like Robert pay their bills just for the sake of a credit score or because of some deep seated honor? Then again, how much is a credit score really worth? Why didn’t he quit paying earlier. Maybe he could have saved himself a lot of misery.

I deal all the time with people who place their entire identity on their credit score. High income individuals tell me they are honorable. That they pay on time and have little debt. Others, with lower scores tell me their story and other than the circumstances they encounter, I believe either could be construed as honorable. A lender might be influenced to lend to an individual with a high credit score, but I’d lend Robert money whatever his score is.

If you have lost everything, Like Robert, remember what you do have and try not to place too much emphasis on your credit score as it qualifies you as a person. Sure, you can clean credit. You can work to raise credit score, but try to remember that a number doesn’t define you.

What Are The Benefits of an Indexed Universal Life Policy ( IUL )?

By
Mary Elizabeth Smith
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0
What Are The Benefits of an Indexed Universal Life Policy ( IUL )?

One of the most exciting things about an iul or index universal life insurance policy is that you can supercharge the cash value portion of your insurance policy. The policy builds cash value based on premium payments that are above the cost of insurance and other expenses and the performance of the underlying index.

One of the benefits of using an iul is that it is tied to changes in an indexed account which can allow you to enjoy the upside growth of the market while enjoying the protection from negative returns. So, you can go up without coming down in other words. The index account in the iul typically has a floor and a cap

Sometimes you could reach the cap which could give you double-digit returns in some years in the market has gains. Likewise, even though you would still have policy fees and expenses you will not receive a negative credit when the market has down turns. This means that when the market goes up your money can grow but when the market goes down you are protected and your money cannot receive a negative credit because of a market downturn, but you will still have policy fees and expenses.

This can be extremely beneficial during times of Market turbulence. In years when the market goes up so do your cash values and when the market Falls this is where the floor comes in and you receive a zero crediting, and you are protected against that loss. Your money is locked in so you don’t lose! However, you will have to pay the policy fees and expenses.

Now why is this so important? Because inflation is one of the biggest threats to Growing your money and what if inflation is running at 3 to 5% or even higher depending on the government’s monetary policy? It’s important to have your money outpace inflation. If your money is growing slower than the rate of inflation you aren’t growing your money – you’re actually decreasing the value of it over time.

The iul can allow you to outpace inflation by capitalizing on potential growth in the years when the market goes up. The cash value growth in your indexed universal life policy is linked to the S&P 500 but your cash is not actually invested in the market. Your money is protected from any Market loss because it is not directly in the market but at the same time you benefit from the growth of the S&P 500 up to a limit or cap.

Let’s say the upside cap is 12%. This can vary in policy to policy. This mean the cash value growth would be limited to just 12%. Having a cap is actually a good thing because this is what allows the insurance company to protect you against losses in those years when the market goes down.

Now you can have your money growing when the market goes up, you could outpace inflation with potential double-digit gains and you never have to worry about losing money when the market goes down. What kind of peace of mind would that give you knowing that your money is protected from Market volatility?

So the index strategy makes sense for people who want to avoid Market risk but still want the possibility of double-digit gains and all the other benefits that an IUL can give them. Using this strategy, you could save more money even without changing your current lifestyle.

The supercharged index and strategy could allow you to:

Benefit from double-digit gains in up years.

Help outpace inflation.

Grow your money tax-deferred.

Access cash values without incurring tax.

Provide cash flow for life.

Advantages and Disadvantages of Trades Receivables

By
Mary Elizabeth Smith
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0
Advantages and Disadvantages of Trades Receivables

Advantages of trade receivables

1. Trade receivables are not counted in the balance sheet because they are not replaced by their cash equivalent, and this improves the financial statement of the originator.

2. There is no need for the originator to wait for payments to be received from the receivables. Thus, the originator can continue getting profits even when the payments are not made immediately.

3. The securities are ranked much higher by rating agencies. This reduces the huge interest associated with lower ranking.

4. Assets and other liabilities can be coordinated and this eliminates the need for dividends.

5. It allows investors the opportunity of trading in capital markets that have better funding costs.

Disadvantages

1. Trade receivables increase costs. This is because receivables can only be securitized when the securitization process is capable of realizing their values.

2. As a result of the high level of flexibility, the securitization process can be used to securitized anything from credit cards to even mortgages. Thus, an accomplishment record in the region of 3-6 is required in order to be a creditable receivable pool. Additionally the loan guarantee terms are automatically reduced because the person seeking such securitization needs to have a predictable and stable source of cash flow.

Steps to ensure repayment

Stanford and Poor’s Rating Services (n.d.) provides steps that can be taken to ensure repayment as:

1. Having clear resolving period – under normal conditions, typical trade receivable pools will liquidate in the space of two to three months, if the pools are relatively constant and all the collections are adopted for the purpose of paying down debts. Thus, the investors need to have a clear, structured and agree resolution period for any trade receivables.

2. Early amortization events – in order to increase the credit quality of the transaction, early amortization are adopted to discount revolving interest-only period if the reinvestment of investors cash flow becomes significantly less desirable and this can increase repayment because reduction in interest will increase speed of repayment.

3. Cash flow allocation – most of the trade receivables are based on borrowing base concept. In this approach, investors entitled to receive a percentage of the collection that is equal to the amount invested over the borrowing base. Thus, it increases repayment to all investors in equal terms and increases overall repayment period.

4. Eligibility criteria – this defines the conditions for the pool and limits investors to high risk receivables, thus reducing and potentially eliminating issues associated with lack of repayment as the investors that don’t meet the criteria will not participate in the pool.

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