Chemical News
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Myanmar gas starts flowing to China's Guangxi province Oct 22,2013
Myanmar's natural gas has started flowing into China's southwestern Guangxi province via pipeline as of Sunday, state-owned China National Petroleum Corp. said Monday. This is an extension of the existing distribution network where the pipeline enters China in Ruili, in neighboring Yunnan province, west of Guangxi. CNPC began commercial opera...>>>
Akzo Nobel Moves Back to Profit As Restructuring Bears Fruit Oct 22,2013
Akzo Nobel NV Monday said it swung back to a net profit in the third quarter as the Dutch company, one of the world's leading paint and coatings makers, made faster-than-expected progress in cutting costs in a wide-reaching restructuring of its business. The robust results sent the stock sharply higher in late trading on the Amsterdam bourse, de...>>>
Liquefied natural gas is new energy darling Oct 22,2013
Asian demand, especially by China, is exploding, but benefits to the nation are years away The global liquefied natural gas war is heating up with an increasing number of companies adding to their production capacities, driven by the growing demand from Asia. But analysts say it will still take years until China can really gain benefits from the...>>>
Rising Chinese demand fuels Australia exports Oct 22,2013
BEIJING -- Soaring demand from China has trigged a surge of exports in Australia's Victoria state. As surging demand for Victorian grain, beef and lamb was registered in China, the value of the state's farm and food exports has hit a record high of AU$9.4 billion ($9.09 billion), Australian newspaper the Age quoted a report as saying on Octorber...>>>
On a roll, tire makers expand outlets Oct 22,2013
Global players vie in market known for brand loyalty Tire makers from home and abroad are on a roll in China as they rapidly expand their sales outlets to compete for a share of a market estimated at 120 million replacement units annually. Among them is the Singaporean brand Giti, which opened 1,700 sales and service outlets around the count...>>>
100 Spot Commodities Price Chart - 21/10/2013 Oct 22,2013
It was assessed by SunSirs that in the tracked 100 spot commodities,20 commodities increased in prices, 29 fell and 51 remained unchanged on 21/10/2013.The largest rises were Hydrochloric acid (10.43%),Nickel (1.02%),Palm Oil (0.86%),while the largest ...>>>
Shale gas sector gears up in China Oct 22,2013
Two months before the expected third round of bidding for shale gas exploration rights, a Chinese firm on Friday successfully tested extraction equipment. The equipment will operate in complex geographic conditions, according to the manufacturer, the Shenzhen-listed Yantai Jereh Oilfield Services Group Co Ltd, which is based in Yantai, Shandong ...>>>
South Korea imports Brazilian denatured ethanol in Sep for 1st time in nearly 2 years Oct 21,2013
South Korea imported 4,055 mt of denatured ethanol from Brazil in September, after an absence of close to two years, according to customs data released Tuesday. Brazil last shipped 6,231 mt of denatured ethanol to South Korea in October 2011, customs data showed. Overall, South Korea imported 17,491 mt of ethanol in September, up 4% from Augu...>>>
China will outweigh rest of world for base metals demand by 2017: WoodMac Oct 21,2013
China is on track to exceed the rest of the world in demand for base metals by 2017, becoming the single largest consumer, research consultancy Wood Mackenzie said Friday. In its latest base metals demand forecasts, Wood Mackenzie expects China to account for 52% of base metals demand by 2017, compared with 46% of the 96 million mt global base m...>>>
China CNPC stores 1 Bcm gas in Xinjiang to aid winter deman Oct 21,2013
State-owned China National Petroleum Corp said Friday that the Hutubi natural gas storage facility in western Xinjiang has about 1 billion cubic meters of gas inventory, which will help alleviate peak winter demand in the area. The storage plant primarily serves CNPC's First West-East and Second West-East gas pipelines that run from Xinjiang to ...>>>
Sinopec to spend $5 billion on cleaner fuel upgrades annually Oct 21,2013
China's dominant refiner Sinopec, or China Petroleum & Chemical Corp, expects to spend Yuan 30 billion ($4.9 billion) annually over the next few years to upgrade its refineries to produce cleaner oil products, the company said Thursday. China is transitioning towards using gasoline and gasoil with lower sulfur content. It aims to move entirely t...>>>
U.S. petroleum demand up in September as economy improves Oct 21,2013
WASHINGTON, Oct. 18 (Xinhua) -- The overall petroleum demand in the United States rose in September in tandem with a gradually improving economy, said the American Petroleum Institute (API) in a report released Friday. The total petroleum deliveries, a measure of demand, rose 2.7 percent in September from a year ago to average 18.6 million barre...>>>
100 Spot Commodities Price Chart - 18/10/2013 Oct 21,2013
It was assessed by SunSirs that in the tracked 100 spot commodities,18 commodities increased in prices, 21 fell and 61 remained unchanged on 18/10/2013.The largest rises were Urea (1.12%),Chloroform (1.09%),Silver (0.81%),while the largest falls were D...>>>
British Gas mull gas price hike Oct 21,2013
LONDON, Oct. 18 (Xinhua) -- British Gas, the biggest energy supplier in the United Kingdom, said it plans to raise the energy price by an average of 9.2 percent from next month, local media reported Friday. The price hikes, which announced only one week after its rival SSE, will affect nearly eight million households in the country, includes an ...>>>
Taiwan's August crude imports fall to 704,000 b/d, lowest since Nov 2011 Oct 18,2013
Taiwan's total crude imports in August plunged 22.8% year on year to an average 704,000 b/d due to lower refinery runs, according to data released Monday by Taiwan's Bureau of Energy at the Ministry of Economic Affairs. This was the lowest level since November 2011, when crude imports averaged 613,000 b/d. Saudi Arabia was top supplier in Aug...>>>
China will buy more iron ore in coming months Oct 18,2013
China, the world's largest iron ore importer and consumer with annual consumption of more than 1 billion metric tons, is expected to import more iron ore in the coming months, Ministry of Commerce spokesman Shen Danyang told a news briefing on Thursday. Driven by robust steel production, China imported a record 74.58 million tons of the ore in S...>>>
UK hails Chinese nuclear investment Oct 18,2013
Initial stakes will be small but will grow The government of the United Kingdom welcomes Chinese investment — possibly including majority stakes — in the next generation of nuclear power plants, Chancellor of the Exchequer George Osborne said on Thursday. Osborne made the remarks after visiting a nuclear power plant under construction in Tai...>>>
Heavy equipment firms on track for recovery Oct 18,2013
Major domestic manufacturers accelerating their overseas expansion in developed markets After weathering more than two years of weak domestic sales and struggling with excess capacity, China's construction machinery market is set for a recovery in 2014, fueled by increasing overseas demand. Su Zimeng, secretary-general of the Beijing-based Ch...>>>
Russian steelmaker Severstal maintains Q3 output, shipments down Oct 18,2013
Severstal produced 4 million mt of crude steel in the July-September quarter, unchanged from Q2, the Russian miner and steelmaker said Thursday. Of the total, 2.8 million mt (70%) was made in Russia with the remaining 1.2 million mt produced in the US, Severstal said in its quarterly results statement. For Q3, Severstal sold 3.74 million mt of s...>>>
HSBC raises 2014 copper price forecast, cuts surplus estimates Oct 18,2013
HSBC has lowered its copper surplus forecasts for 2013 and 2014 and raised its outlook for the average price by 7%, the bank said Thursday. "We have cut our 2013 surplus forecast from 320,000 mt to 38,000 mt and our 2014 [forecast] from 630,000 mt to 88,000 mt," it said in its quarterly metals review. In this environment, HSBC said it now exp...>>>