 by special convoy, on-site assembly and beyond…all the Group’s Smart Building expertise was put to work, and in record time. This has been rewarded during the 2018 Tekla France BIM Awards, which awarded the Jury’s Honourable Mention to Amazon’s logistics platform in Bretigny-sur-Orge.
People Feeling The Friday Spirit
For many of us working people, waiting for Friday to come can feeling like waiting for the world to end. Our long and rough journey of getting through the week starts off on Monday, and until we cross the finish line – we’re completely drained in every way possible. Here are some epic people that truly depict the Friday spirit….
When you just can’t hold on another minute…
Well, hang it there buddy! Friday is right around the corner. We know, the struggle is real.
The best way to fool your boss…
Before the weekend comes around, sometimes you just gotta do, what you gotta do to make it through.
You may also likeA brand new laboratory facility was being constructed and new mechanical equipment was required. Everything from new chillers, boilers, fan coil units, & custom AHUs, which also serve specialty lab equipment such as snorkels & fume hoods.
The size and complexity of the project had to be managed within narrow project timelines, as proper air quality and temperature is vital for safe healthcare operations. The new cooling system needed to handle over 400 tons of cooling and 88,000 CFM of exhaust air to effectively cool the facility, while meeting numerous specialty requirements for critical equipment rooms.
This project consisted of 3 days of rigging and assembling AHUs and chillers.
Donnelly saved the client costs by finishing the project under budget and within established timelines. 3D AutoCAD drafting and BIM modeling ensured successful logistics planning and collaboration between construction trades. All equipment was successfully installed and commissioned, including specialty systems for critical equipment rooms. This client was able to minimize disruptions to their daily operations and maintain a safe, healthy environment for patients.Copper prices were expected to rise in February because of stoppages at the world's two largest mines - a workers' strike at BHP Billiton's (NYSE:BHP) Escondida mine in Chile, and Freeport-McMoRan's (NYSE:FCX) export licensing issues at the Grasberg mine, Indonesia, which halted operations.
At about the same time, Jim Cramer said that copper was about to capture an important move up, but the mining issues which backed that move despite commanding huge volume, were being driven by supply, rather than an increase in demand. Both those mining situations were resolved during the course of March, and copper looks as though it's already started giving up gains.
China Influence
With Mines closing, the instinct is to expect higher copper prices with continued high demand from China based on bullish data, and there's plenty of bullishness in the market, so what's really going on? Well, inventory in China for one thing, (a subject I raised earlier this year in an article about iron inventory building in China, and its impact on container shipping). Analysts are not 'all bullish,' either. 'Investinghaven' raises the technical chart aspects here, their bearish case is based on analysts' forecasts for copper in 2017:
Financial institutions and media have a slightly consistent view as their 2017 forecasts are neutral to bearish:
- Goldman Sachs believes that copper prices will slightly fall to $1.80. This copper price forecast is very bearish.
- Bank of Merrill Lynch sees lower copper prices in 2017.
- Morningstar expects copper prices to stabilize around $2.
Although I'm reading a bullish case too, (and Grasberg issues could re-emerge in the second half), the suggestion is that bullish copper may materialize more into the second half of 2017, which is normally seasonally weaker for the red metal. 'Investinghaven' say:.
China Data
There could be inventory build-up in China, regardless of the strong China data released in April. LME approved warehouse stocks in Asia doubled in March, which suggest an origin in China. In March CNBC reported:
Copper imports to China - accounting for nearly half of global consumption estimated at around 23 million tonnes this year - totaled 340,000 tonnes in Feb. down 10.5 percent from January and down 19 percent from a year ago. "China remains key and we project moderate demand growth this year, mainly from the power sector," Julius Baer analyst Carsten Menke said in a note.
Stocks of copper in LME approved warehouses at 288,525 tonnes have nearly doubled since last Thursday. Most of the deliveries were to warehouses in Asia, which traders say suggest the metal came from China.
However, mine disruptions in Chile, Peru and Indonesia are supporting prices. One disruption is a strike at the Escondida copper mine, the world's largest, in Chile. "After 25 days (of strikes) we can expect lower production already by some 95,000 to 100,000 tonnes, which naturally will go on rising while the strike is prolonged," Chile's Mining Minister Aurora Williams said.
So it has really been the disruptions to mining business which have underpinned copper prices, and not demand.
Mining Supply Problems Ended In March
- CNBC reported that the Escondida mine was returning to normal operations 23rd March.
- March 22nd 'UKBusinessinsider' reported a return to normality at Grasberg.
- Reuters reported that Freeport-McMoRan Inc.'s Cerro Verdo mine, returned to work, 30th March.
Otherwise, Peru expected to increase copper supply overall by 20% this year. On the surface, things have returned to normal, with China inventory influencing the demand side, and the supply side being influenced by a potential rise of 20%.
Investing in Copper
As explained in more detail at 'ETF.com,' there's a lot to consider when deciding which copper ETF/ETN to trade, including product structure, rolling strategy, expenses, and liquidity. The five to consider are:
- Global X Copper Miners ETF (NYSEARCA:COPX)
The copper ETF from Global X is tied to the Solactive Global Copper Miners Index
- United States Copper Index ETF (NYSEARCA:CPER)
The US Copper Index Fund tracks the Summer Haven Copper Index Total Return Index
This First Trust fund, based on miners, tracks the ISE Global Copper Index
The iPath Bloomberg Copper Subindex Total Return SM ETNs are designed to provide exposure to the Bloomberg Copper Subindex Total ReturnSM. The ETNs are riskier than ordinary unsecured debt securities and have no principal protection.
- iPath Pure Beta Copper ETN (NYSEARCA:CUPM)
Barclays iPath copper ETN, correlates with the Barclays Copper Pure Beta Total Return Index. And like CPER, is based on futures contracts to create its benchmark.
Expense Ratio Calculator.
Seasonal Copper
Copper is seasonally stronger during the first half, but with choppy sideways trading in May-June, reaching a mid-summer high. April has the potential to build, but May-June may not be supportive.
Chart source: EquityClock.com
Technical Chart And Market Direction
Most worrying, is this long-term chart for copper, which indicates how extremely overbought the Stochastic/RSI is, while the market has been overwhelmingly bullish on that high, and which in the past has resulted in a strong correction.
Source
The shallowest corrections from that technical level were from 2001-2002, and 2011-2012, (a similar bear leg developed in 2015); a repeat of which, would take copper down to the rising lower trend line of 1995, and well below $2.00. (Horizontal support in the lows of 2009 can't be ruled out though, a dip below the diagonal trend is possible, (see 1998-2002). Consider the stronger relationship with the CRB (plotted at the top of the chart) too.
A bearish case for copper is building as the long-term stochastic/RSI has already started turning down. Below $2.50 and it's trading in the bear channel, below $2.00 (prior support), and consider the $1.60s.
A bullish resumption needs to reverse over the support created at $2.Dr. Ayisha Gani is a board-certified physician in internal medicine who specializes in the diagnosis, treatment and prevention of medical conditions in adult patients. The founder of Northside Medical Specialists, Dr. Gani has nearly two decades of experience serving the Canton and North Georgia communities. She takes pride in serving patients with compassionate, comprehensive care, and spends as much time as is needed to listen to patients.
Dr. Gani offers a full range of primary care services, including acute illness care, chronic disease management and preventive care, and works alongside her friendly, experienced staff to provide personalized care in a welcoming environment. She has special interests in hypertension and women’s care, and provides lifestyle guidance to help patients achieve and maintain a healthy, active and abundant life!
Georgia is making a major push to recruit Gainesville quarterback Blake Sims. And it has created a bit of a moral dilemma for the player and his family.
Sims, an AJC Super 11 selection and one of the early favorites for all-classification player of the year honors, has been committed to Alabama since April. But Bulldogs’ head coach Mark Richt,