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By Kimio Itagaki

The distribution ratios of Ag, Pb, As, Sb and Bi for the Cu2S-FeS or Ni3S2-FeS matte / FeOx SiO2, FeOx-SiO2-CaO or FeOx-CaO slag equilibration in a MgO crucible were determined experimentally at 1523~1573K under controlled partial pressures of S2 and O2 at given PSO2 of 10.1, 50.7 and 101.3 kPa (0.1, 0.5 and 1 atm) and be observed dependency of distribution ratio on the matte grade, SO2 pressure and slag basicity were analyzed on the basis of thermodynamics,

Jan 1, 2003

This report is a compilation of all information obtained in accordance with the requirements of contracts SO122076 and H0232056. A series of eight coal mines were visited to determine their communications usage and requirements. Presently available equipment was surveyed and evaluated to determine its applicability to the needs of the mines. The equipment studied includes that made by the following companies : Anaconda Telecommunications Division Andrew Antenna Bendix Communications Division Collins Radio Group of Rockwell International Executone Communication and Sound Systems Gau-tronics Mine Safety Appliances Company Motorola Communications and Electronics, Inc National Mine Service Company Plessey Communications Systems Corp Pye Electronics Limited Reach Electronics Set Com Corporation Sonex Incorporated Mine visits and in-depth interviews were made alt the following sites: Robena No. 4, Pennsylvania Greenwich Colliery Mines, Pennsylvania Somerset Coal Mine, Colorado Keystone No. 1, West Virginia Harris Mine No. 1, West Virginia Baldwin Underground No. 1 Mine, Illinois Lovilia No. 4 Coal Mine, Iowa Orient No. 3 Coal Mine, Illinois

Nov 15, 1974

By E. Bicknese, R. Clark

The mechanism and rate of reduction of FeO at conditions similar to those in the stack of a blast furnace have been determined for temperatures from 980" to 1165°C. Preliminary studies of the reduction of Fe2O3 with activated coconut charcoal in a static system (no flow of reducing gas) have shown that the CO2-CO ratio of the product gas depends upon the relative reactivities of the Fe2O3 and charcoal. In a systern with a "hot blast" of CO and Nz (simitar to dry bosh gas), synthetic FeO, and actiuated coconut charcoal, the rate of reduction was not sensitive to the flow of reducing gas, and the rate-controlling step alas the chemical reaction at the metal-oxide interface. Wherz solid carbon was not present, a critical flow rate of reducing- gas had to be met in order to prevent a lowering of the reduction rate. The effect of a less-reactive carbon (blast-jurnace coke) and of a "natural" FeO on the mechanistn and rate, and the mininum amount of carbon necessary in the charge to tnaintain the reducing potential of the gas phase, have been determined. THE importance of iron oxide reduction processes has encouraged many studies of the process reaction kinetics. Despite this, the mechanism is not well-understood and three main theories have evolved, which can be stated as follows: A) the rate-controlling step is diffusion, either gaseous diffusion of the reductant or product gas through a porous solid,' or solid-state diffusion of iron and oxygen atoms through the so1id.2 B) The slow step is diffusion of reducing gas through a stagnant boundary layer. C) The reaction rate is controlled by the chemical reaction occurring at the metal-oxide interface and is proportional to the area of this interface.3 By increasing the velocity of the reducing gas to a flow rate beyond which no increase in the reduction rate is observed, critical flow rate, it may be possible to eliminate B as the slow step. However, as warnere points out, the establishment of a critical flow rate may only assure that the reaction is not limited by a reduction in the reducing potential of the gas and that B may still be the rate-determining step. Edstrom and Bitsianes and Seth and Ross8 show that A and C may both be correct for the reduction of the same oxide, depending upon the stage of the reduction, and that the relative importance of the two mechanisms varies with the porosity of the oxide. Themelis9 has derived expressions which express A, B, and C in terms of the fraction reduction, Rx, of a spherical particle. Thus, in the case of A a plot of In (1 - Rx) vs time must be linear and the time to reach a given reduction is proportional to the square of the particle diameter. For B a plot of (1 - Rx) vs must be linear and the time to reach a given reduction is proportional to the square of the diameter. For C a plot of 1 - (1 - RX)1/3 vs f must be linear and the time to reach a given degree of reduction should be proportional to the diameter. In the case of mixad controlled reactions, none of the plots are linear over their entire length. The results of previous studies, in which the rates of gaseous reduction of iron oxide were measured in the absence of carbon, may not correspond to blastfurnace practice because they ignore the effects of the Boudouard reaction. CO2 +C — 2CO The presence of carbon may alter the mechanism or the rate of iron oxide reduction through an enrichment of the gas phase by Eq. [1]. In this case, the presence of and reactivity of carbon become important. If the Boudouard reaction has no effect on the rate of reduction, the reducing gas could be supplied by some means other than the gasification of carbon at the tuyeres and carbon could, theoretically, be eliminated from the burden. Preliminary studies of the reduction of Fe2O3 with activated coconut charcoal were made to determine if the reactivity (surface area) of the Fe2O3 had any effect on the product gas composition. Two size fractions of Fe2O3 were reduced with charcoal in a static system (no flow of reducing gas). In each case the charcoal was -100 + 325 mesh and was 25 pct of the total charge. One fraction of the reagent-grade Fe2O3 was submicron in diameter. The other fraction was -100 + 200 mesh and was prepared from the former by compacting, sintering at 1300°C, crushing, and screening. In each experiment, the reaction vessel was filled with a mixture of CO and CO, which would be in equilibrium with FeO and iron at the reaction temperature. A furnace was heated to the desired temperature, the vessel was placed in the furnace, and the gaseous products of the reaction were collected and analyzed. The results of these experiments, Fig. 1, show that the gas phase associated with the submicron oxide is more oxidizing than that with the -100 + 200 mesh oxide. Therefore, in a static system, the relative rates of the reduction reaction and the gasification of carbon depend upon the reactivities of the Fe2O3 and charcoal. The reduction of FeO to iron is the most important reaction occurring in the blast furnace and is probably the slowest of the several reduction steps. The mechanism and rate of reduction of FeO in a system containing carbon and a flow of dry bosh gas have been studied. TRANSACTIONS OF THE METALLURGICAL SOCIETY OF AlME

Jan 1, 1967

By John Murray, Daniel Ebin, Robert Gould

The Atlanta Plane Train project at Hartsfield-Jackson Atlanta International Airport employed the progressive design-build approach. This provided opportunities for collaboration between the design-builder, design engineer, and owner and the implementation of innovative design and construction approaches. The innovations have reduced risks, allowed for adjustments during design to accommodate new challenges, and provided open-book cost and schedule evaluations. The progressive design-build approach has also allowed for pricing of work to occur in phases—capturing the design/construction challenges as the project evolves and when they are more clearly defined. While this has allowed for pricing to be performed with better project understanding and therefore less contingency, the associated time frame for approvals has required careful consideration to avoid impacts to the schedule. This paper discusses the benefits and challenges of the progressive design-build approach.

Dec 1, 2022

By Ariane Gaspari Oliveira Souza

O Escândio é um elemento do grupo das terras raras que apesar de ser tão abundante quanto metais como o chumbo, raramente é encontrado concentrado nos minérios. A produção de Sc atual é inferior a 10t/ano proveniente do processamento de outros minérios e resíduos e também da recuperação de sucatas. Minérios lateríticos de níquel podem conter até 350ppm de Escândio e os resíduos do seu processamento podem ser ainda mais concentrados. Neste trabalho foi caracterizado um resíduo do processamento de minério de Níquel e avaliado o processo de lixiviação para reocupação do Escândio contido. Os principais componentes do resíduo são Fe, Cu, Ni e Co e o Escândio é da ordem de 1000ppm. A lixiviação do Escândio mostrou-se mais dependente da temperatura do que da concentração de H+ e o processo de lixiviação proposto não foi seletivo para o Escândio sendo necessárias etapas subsequentes para purificação.

Aug 17, 2017

Mining companies around the world devote considerable effort to production reconciliation and metallurgical accounting. However, although sampling, weighing and analysis methods used to obtain the raw data for metal balancing continue to improve, they are still areas that are sadly neglected. Using the latest metallurgical accounting package to improve metal balancing is fundamentally flawed if the data used are unreliable in the first place. The basic rule for correct sampling is that all parts of the material being sampled must have an equal probability of being collected and becoming part of the final sample for analysis. If this rule is not respected, sampling bias can easily be introduced. Unlike precision, which can be improved by replication, bias cannot be reduced once it is present. Sampling and sample processing procedures must therefore be carefully designed both to minimise bias and to obtain acceptable precision. The most suitable sampling location is the discharge point of a process stream, where increments can be obtained by taking a complete cross-section of the stream with a sample cutter. Sampling devices that take only part of the stream may introduce serious bias and must be avoided. The moisture content and wet mass of the material being sampled are of similar importance to chemical analyses for determining metal content. The accurate determination of moisture content is particularly difficult, because the moisture content of samples can change after the sample is taken, eg due to moisture evaporation. Hence, moisture samples need to be taken quickly and placed in sealed bags or containers that are impervious to moisture. The moisture content should then be determined without delay. To determine wet mass, a range of weighing methods are used in industry, including weighbins, weighbridges, conveyor weightometers and platform scales. The precision and accuracy of these methods vary considerably, so it is important to select a method with the appropriate precision and ensure that the weighscale is well maintained and regularly calibrated.

Jan 1, 2002

This problem is seen as being central to a number of peripheral problems. Of these, the following are considered to be of major importance: 1. Reserves. Changes in Quality. Depths at which they occur. The effects of catchment and water storage areas. The effects of urban development. 2. Environment and the compat- ibility of mining and preparation of coal. 3. Transportation of Coal. J. tabour.

Jan 1, 1976

By C. A. WARNER

AN OIL and gas mining lease contract, as entered A into by and between 'the lessor and the lessee, contains certain express covenants stipulating, in part at least, the exact performance thereof; it also contains certain implied covenants, among which may be included that of protection of the leased premises against drainage by the drilling of necessary offset wells. In the drilling for, and production of, oil and gas, however, it not infrequently happens that the lessee, acting in good faith, does not deem it prudent to, drill a test thereon even though the location for such test is offset by a producing well on an adjoining lease. Such conclusion, on the part of the lessee, is generally construed by the lessor as constituting a breach of the implied covenant mentioned above, and he may take proper action to secure satisfaction therefor. The action against the lessee is generally for cancellation or relinquishment of the lease, together with, or apart from, claims for damages allegedly sustained through failure to properly protect against drainage of the leased premises.

Jan 1, 1931

By Chao Zhang, Wenhao Xia, Jianxin Fu, Ling Yu, Weidong Song, Yang Li

Sanshandao Gold Mine is the only undersea metal mine in China. To deal with the collapse and pumping of stopes and roadways caused by complex ore-rock occurrence conditions, the mine conducts filling and sealing of some areas, and the remaining ore reserves will be mined after treatment. Therefore, it is urgent to evaluate the stability of rock masses, fault fracture zones, and aquicludes during the secondary mining process. In this study, displacement and microseismic methods are employed to monitor rock deformation and fractures. Additionally, FLAC3D was used to simulate the process of secondary mining, reproducing the evolution of stress fields, displacement fields, seepage fields, and plastic zones at different mining stages. The combination of numerical simulation and on-site monitoring verification demonstrates that the deformation of surrounding rock presents a rapid growth at the initial stage of mining, followed by a gradual decrease in the growth rate, and finally tends to stabilize; the fracture zone area at the 151–159 exploration line on the − 320 m level (near the 7# and 8# stopes) exhibits poor stability, and monitoring measures should be strengthened; the deformation value of the aquiclude is less than the deformation value of I protection level in the Code for Design, the impact of secondary mining on the aquiclude is limited; fault and fracture zone deteriorate rock mass stability, and their impact is related to their spatial locations. Hanging wall fault has a more significant impact on the settlement of the aquiclude, while the footwall fracture zone has a greater impact on the development of the plastic zone.

Feb 21, 2024

By Charles Jackson Abrams

MINING is one of the major industries of the Rocky Mountain region and since the United States became involved in the present World War, all mines have been called upon by the Government for the maximum production of the strategic metals necessary. Operating under the most adverse conditions, such as priority requirements, slow delivery of necessary material and equipment, labor shortages, and freezing of all wages, which still permitted some industries to pay higher rates than were allowable in the mines, thereby drawing labor from the mines; and the United States Employment Service continually giving mine labor certificates of availability; these and many other problems made mine operation particularly difficult. Yet, in spite of these obstacles, the mining industry, either through its own resources or through Government subsidies in the form of loans or premium prices for strategic metal, have and still are making an all-out effort to meet Government demands. They, without question, have played a major role in assisting the war effort.

Jan 1, 1945

By Fred Horne

1N THIS PAPER, the writer proposes to limit his comments to few generalized phases of the subject, based on his personal experience in the midwestern United 'States and in one section .of the Coal Branch in Western Alberta. The following statistics are submitted to show the importance that strip mining has assumed in the coal mining industry of the United States. In 1914, 1,281,000 tons of strip coal were produced, amounting to 0.3 per cent of the total production. In 1948, the total was 13~,505,000 tons, representing 23.3 per cent. In 1949, the percentage figure dropped slightly and this can be partially accounted for by the labour disturbances prevalent throughout the year. In 1914, there were 48 power shovels and draglines being used in the stripping of coal; in 1949 there were 3,712, not to mention other types of coal stripping equipment such as bulldozers, tractors and scrapers, rotary excavators, and stackers. At the bituminous coal mines in Western Canada, strip mining was introduced only a few years ago, two of the major reasons for its development being the need for increased production during the war and post-war years and the need to hold the line on increasing production costs, but even in these few years the percentage of strip production has in-creased to such an extent that some mines that, five or six years ago, were producing all their tonnage from underground operations are today obtaining up to 80 per cent of their total output from strip mines.

Jan 1, 1951

By Richard H. Singleton

Native asphalt was produced in 1978-79 by six companies in four States. Leading States were Texas and Utah. Output in-creased 37% in 1978 to 1.7 million tons and decreased 5% in 1979 to 1.6 million tons while value increased 39% in 1978 to $19.3 million and 33% in 1979 to $25.6 million. Bituminous limestone was produced by Whites Uvalde Mines and by Uvalde Rock Asphalt Co. in Uvalde County, Tex.; by Southern Stone Co. in Colbert. Ala.; and by Barton County Rock Asphalt Co. in Barton County, Mo. The product was used mainly in street and road repair. Gilsonite was produced by American Gilsonite Co. in Uinta County, Utah, and by Ziegler Chemical and Mineral Corp. in Weber County, Utah. This material was used for purposes other than road repair.

Jan 1, 1980

By W. H. Gross

To pollute means to make impure or unclean. We tend to forget that man defecates, urinates, sweats, expectorates and exhales and in himself is a beastly little pollutor-but then so is Mother Nature! The object of this paper is to try to put what man and nature do into perspective. The facts indicate that although man may sweat a little, Ms. Nature is by for the greatest pollutor of all.

Jan 1, 1979

By N. Skopak, C. Aimone-Martin, J. Redyke, B. O. Meins

PipeBlast is a spreadsheet-based calculator based on research conducted by Southwest Research Institute (SwRI), used by the pipeline industry to determine if proposed blasting planned near existing pipelines can be safely executed. The two factors determining “safe” are blast-induced pipe wall hoop stresses and predicted peak particle velocity (PPV) at the pipeline. Although methodology used to predict hoop stresses is somewhat sound, predicted PPV amplitudes are highly exaggerated based on inappropriate attenuation models developed using spherical explosive charges of limited charge weights, placed in soil adjacent to model pipelines that do not represent rock blasting. Hence, pipeline companies readily reject well-design blasts and limit scaled distances far beyond what is reasonable and cost-effective to pipeline owners. Full-scale trench blasting in rock was conducted near a 24in (711mm) diameter operating API 5L X70 grade steel pipeline in Texas to compare PipeBlast model predictions with a Ground Strain Model (GSM) based on field measurements of ground motions on the surface and at the pipeline springline. Results of the GSM were compared with pipeline strains measured using wire gauges mounted on the Springline. The comparative results showed that a site-specific velocity propagation model provided good estimates of ground strains that are replicated on the pipeline walls in terms of hoop and longitudinal strains. Trench blasting 28ft (8.5m) from the pipeline produced ground motions of 7.6in/s (193mm/s). At this ground motion amplitude, the factor of safety defined as the allowable stress divided by the combined operating and blasting hoop stresses was reduce from 3.04 in the absence of blasting to 2.98. This paper explains the research and findings on which PipeBlast is based and presents an alternative approach to predicting blast-induced pipe wall stresses based on site-specific velocity propagation measurements and a ground strain model.

Jan 1, 2024

By G. Pizzi, G. M. Ciucci, G. L. Chierici

The use of the material balance equation to estimate the volume of hydrocarbons originally present in a reservoir, whose producing mechanism is partly due to water drive, has been discussed in the literature by several authors. There is no general agreement upon the possibility of obtaining reliable results by this method. Gas reservoirs in contact with an active aquifer are considered in this paper. Theoretical considerations based on the cybernetic principle of uncertainty (which states that the internal structure of a system cannot be uniquely determined from its observed external behavior) lead to the conclusion that the volume of gas originally present in a reservoir of this type cannot be uniquely determined from its past history. The range of values which encompasses the actual value of the reserves varies from case to case and must be determined by either numerical or analogical methods. Results obtained for six gas fields are reported. All these fields were produced with small fluctuations in their production rates, as is common practice for gas reservoirs; no gas storage fields were considered. Results obtained show that reserves values in a range of 1 to 2, associated with appropriate aquifers, allow the matching of the reservoir past history with mean-square deviations less than the experimental errors involved in pressure and produclion measurements. Similar results have been found in several other partial water drive gas reservoirs. From these results it is concluded that gas reserves cannot be uniquely determined from the past performance of partial water drive reservoirs, at least in cases where the reservoir has been submitted to small fluctuations in the production rates, and pressure data of normal accuracy are available. INTRODUCTION A number of authors have analyzed the problem of estimating the reserves originally present in a partial water drive reservoir from its past pressure-production performance. Literature which deals with this subject can be grouped, according to their conclusions, as follows. 1. A reliable value for the reserves can be obtained even if reservoir data (pressure and cumulative production) are affected by errors within the normal range.'-' 2. A reliable value for the reserves can be obtained only if reservoir data are very accurate'- or if past production performance has been subjected to abrupt variations in the production rate."' 3. No unique value for the reserves can be obtained from reservoir past production performance. This conclusion has been based upon theoretical considerations" and verified in several field cases. The purpose of this paper, which deals only with partial water drive gas reservoirs, is to test the above conclusions against actual field cases. Some theoretical considerations on this problem are also presented. THEORETICAL CONSIDERATIONS As the behavior of a gas reservoir communicating with an aquifer depends on both the aquifer and the reservoir characteristics, the physical system to be studied is the combined gas reservoir plus aquifer. The information which is available for studying the performance of such a system is the well production rates and bottom-hole pressures, all given as functions of time. The external behavior of the reservoir-aquifer system is therefore described by 2n input variables (Gp, Wp,) and n output variables (p,), n being the number of wells in the reservoir. In reservoir engineering it is common practice to consider the reservoir as a whole, disregarding the internal distribution of pressures and of producing wells. This practice is equivalent to substituting the above multi-variable system with a single-variable system, where the average reservoir pressure is the only output variable and the cumulative production G,(t) and W,(t) are the input variables. The internal structure of such a system, defined by initial gas reserves G, aquifer shape and dimensions, boundary conditions and petrophysical parameters distribution throughout the aquifer, is unknown. Therefore, from a cybernetic point of view the system is a "black-box It has been demonstrated" that for a blackbox the indetermination principle holds. Accordingly, the number of different internal structures (or set of parameters) which can account for the observed external behavior is infinite. As a consequence, the initial reserves cannot be uniquely determined from the reservoir past performance. When W,(t) is known, the determination of G from

By J. B. Morrow

WITH numerous plans under consideration for coal classification, and with the advent of the Bituminous Coal Code, the intelligent sam-pling of coal has become increasingly important. To us it is rather significant that there have been very few fundamental studies of coal sampling in American technical literature since those of E. G. Bailey, which appeared in the Journal of Industrial and Engineering Chemistry in March, 1909. He covered the subject up to that time so thoroughly and in such an excellent manner that perhaps many other later students have felt that they could add very little to his findings. The recent studies of the British Engineering Standards Association have indicated the possibility of a somewhat different interpretation of Bailey's results, permitting the taking of smaller samples, and perhaps it will now be helpful to reopen this question. C. W. H. Holmes, in an informative series of articles on coal sampling recently published in Colliery Engineering, makes two rather interesting statements, as follows: It is scarcely surprising to find a lack of interest and knowledge regarding the sampling of coal not only in the mining industry itself but also among consumers of industrial fuel: at its best coal sampling is a dirty business, regarded as a nuisance and an expense by the commercial man, and usually as a nuisance and nothing else by the chemist. The writer can conceive only two classes of people who have never experienced any difficulty in obtaining representative samples of coal from wagons; those who have never tried to, and those who have never had the necessity or desire to check the accuracy of their work. The primary purpose of this paper is to present some tabulated data of the more significant results of a sampling investigation undertaken during the last four years to obtain certain fundamental data on the variables connected with coal sampling and to point out that often assumptions have been made that are not in accordance with the facts. One of the standard sampling methods states:

Jan 1, 1935

By Foster Fraas

Almost all minerals show irreversible changes in electrical conductivity after heating in the temperature range 100° to 800° C. This effect can be detected with only a limited number of minerals with the standard ionizing-electrode-type separator, which differentiates between nonconductors and conductors in the single-particle resistivity range of 1011 to 1013 ohms. Tests outside this range with other type separators, such as the static field type, increase the number of minerals with which the effect can be detected to almost all that were tested. Irreversibility may be the result of an alteration of adsorption layers, volatilization of surface cations or anions, or an oxidation or reduction. One example is limonite, which decomposes to hematite and passes through two minima and two maxima in conductivity in the temperature range 100° to 900° C.

Jan 1, 1959

By Werner Bilfinger, Claudio Nahas, Marcelo Waimberg

"INTRODUCTION The so called Porto Maravilha Project consists of the re-urbanization of a 500 ha area in the Rio de Janeiro port region. Several changes in local infrastructure are being implemented, including a significant change in the road system, with the demolition of the former “Via Perimetral” viaduct and construction of 4 new tunnels: • Saúde tunnel - 35 m long (Waimberg et al, 2014); • “Binária tunnel” - 1012 m long; • “Via Expressa” twin tunnels - 1850 m long each way. The tunnels were excavated almost completely in rock using conventional drill and blast methodology and only some short stretches in weathered rock, associated to faults zones, residual soils and marine sediments close to the tunnel portals. During excavation of access shaft and “Via Expressa” and “Binária” tunnels significant ground settlements as well as settlements of buildings founded both on shallow and deep foundations were measured. These values could not be associated to conventional tunneling induced settlement troughs. This paper focuses on the “Via Expressa” tunnels, presenting a brief description of the project as a whole, its geological and geotechnical background, monitoring results, and a discussion of possible causes of the measured settlements. PROJECT DESCRIPTION The Porto Maravilha Project is an integrated multidisciplinary action on behalf of the Rio de Janeiro city council with support from the State and Federal Governments. In addition to creating new conditions for working, housing, transport, culture and leisure for the resident population, it also promotes expressive economic development in the region (Portonovo, 2015). Porto Maravilha Project is carrying out actions for the recovery of the region’s historical heritage, as well as promoting the population´s social and economic development. One of the main benefits of the Porto Maravilha Project is the construction of the new traffic system in the port area, consisting of the Express and Binário roadways. The new project, which will replace the current Perimetral Rodrigues Alves viaduct system, will increase traffic flow capacity by 27%."

Jan 1, 2016

By S Kowalczuk, S V. L Barrett

The potential for adverse surface settlement during tunnelling in soil and rock poses a significant risk to the successful completion of any tunnelling project. Undesirable ground movement may lead to unacceptable level of damage to surface infrastructure, buildings and the environment, resulting in safety concerns as well as causing significant delays and costs to a project. One of the empirical methods which is commonly used to predict surface settlement in the early stages of a project’s development is the volume loss approach as described by Mair, Taylor and Burland, 1996. This method was developed for use in soft ground; however it has also been applied in weathered and soft rock to provide an initial indication of potential surface settlements along a proposed tunnel alignment. This paper presents some initial thoughts on the use of this method in weathered and soft rock and the associated limitations which need to be taken into consideration when interpreting the results. This includes complex weathering profile cases where the strength and stiffness of the ground does not necessarily increase with depth.CITATION:Kowalczuk, S and Barrett, S V L, 2014. Initial thoughts on application of the volume loss approach for estimates of surface settlement due to tunnelling in weathered rock, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 641–646 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By Maiman R

One method of forecasting prices of metals is based on analysis of historic relationships between prices, inventories and consumption. The first, but generally overlooked step in this analysis should be to remove from the inventory and consumption figures the effects of seasonal variations. The next step is to construct diagrams which show prices plotted against ratios of inventories to consumption. These diagrams indicate that, when inventories are high, prices show little response to changes in inventories. Below a critical level of inventories, however, the psychology of the market changes and small changes in inventories lead to large moves in prices. The critical level of inventories is termed the "pinch-point"; the diagram which shows prices in relation to ratios of inventories and consumption may be called a "pinch-point diagram".

Jan 1, 1990