Chemical News
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Coal-to-liquid project to start Sep 30,2013
Construction of a coal-to-liquid (CTL) project, owned by Shenhua Ningxia Coal Industry Group with an estimated annual production of 4 million tons, began Saturday in Northwest China's Ningxia Hui Autonomous Region, the Xinhua News Agency reported Saturday. The CTL project can diversify China's local sources of oil, as China's dependence on...>>>
China offers solar power tax breaks Sep 30,2013
China's Ministry of Finance announced on Sunday that it will offer tax breaks to manufacturers of solar power products, in the country's latest effort to encourage the use of the green energy. From Oct. 1, 2013 to Dec. 31, 2015, vendors of self-produced power products using solar energy will receive immediate refunds of 50 percent of the value-a...>>>
100 Spot Commodities Price Chart - 29/09/2013 Sep 30,2013
It was assessed by SunSirs that in the tracked 100 spot commodities,12 commodities increased in prices, 18 fell and 70 remained unchanged on 29/09/2013.The largest rises were Chloroform (1.73%),Hydrochloric acid (1.54%),Soda ash (1.15%),while the large...>>>
China to lower retail fuel prices Sep 30,2013
China will slash the per-tonne retail prices of gasoline by 245 yuan (39.84 US dollars) and that of diesel by 235 yuan, starting from Monday, the country's top economic planner said on Sunday. The adjustment will lower the benchmark retail prices of gasoline by 0.18 yuan per liter and that of diesel by 0.2 yuan per liter, the National Developmen...>>>
Environmental costs weigh on struggling steelmakers Sep 29,2013
SHIJIAZHUANG -- Chinese steelmakers, already obsessed with low profit margins, have been told to increase their environmental investment to help the country reduce air pollution. As part of an action plan to curb air pollution, the Chinese government is considering expanding a "green credit" policy that orders banks to lend no more to those ener...>>>
Asian PX market expects another tough negotiation round for Oct ACP Sep 29,2013
Paraxylene market participants expect another tough round of negotiations for the Asian Contract Price for October amid tight PX supplies and a bearish downstream purified terephthalic acid market, sources close to the negotiations said Friday. There are four PX ACP sellers in Asia -- ExxonMobil, Japan's JX Nippon Oil and Energy, Idemitsu Kosan ...>>>
Hong Kong bunker suppliers settle Oct 380 CST fuel oil premiums around $16/mt Sep 29,2013
Hong Kong bunker fuel suppliers said Friday they have settled ex-wharf premiums for October-loading 380 CST bunker fuel with importers at around $16/mt above Mean of Platts Singapore 380 CST high sulfur fuel oil assessments, compared with $15.50-17.50/mt in September. Suppliers said October premiums were almost the same as in September or slight...>>>
China approves egg futures trading Sep 29,2013
BEIJING, Sept. 28 (Xinhua) -- China Securities Regulatory Commission (CSRC), the country's top securities regulator, announced that it has endorsed the Dalian Commodity Exchange (DCE) to carry out egg futures trading. Futures trading will help stabilize egg prices by increasing liquidity in the market, and could act as an efficient commodity hed...>>>
Brazil discovers large oil deposit in northeast Sep 29,2013
RIO DE JANEIRO, Sept. 27 (Xinhua) -- Brazilian state-run oil giant Petrobras on Friday confirmed the discovery of a large crude oil deposit off the coast of the northeastern Sergipe state. The reserve could yield nearly a billion barrels of crude, representing one of the world's largest finds of its kind in 2013, the company said. Petrobras C...>>>
ASIA THERMAL COAL: Chinese producers heard re-pricing lower-grade domestic coal Sep 29,2013
A small upturn in prices for sub-5,000 kcal/kg NAR Chinese thermal coal on perceived stirrings of restocking activity for the upcoming northern hemisphere winter and some market tightness was seized on by traders Friday. South China prices for imported thermal coal with a calorific value of 5,500 kcal/kg NAR were rangebound Friday at $77/mt CFR ...>>>
100 Spot Commodities Price Chart - 27/09/2013 Sep 29,2013
It was assessed by SunSirs that in the tracked 100 spot commodities,18 commodities increased in prices, 19 fell and 63 remained unchanged on 27/09/2013.The largest rises were DME(0.99%),Maleic anhydride (0.98%),Copper (0.78%),while the largest falls we...>>>
China likely to cut refined oil pr Sep 29,2013
BEIJING -- Analysts believe China may cut the price of refined oil on Friday in response to a drop in global crude oil prices. The moving average of a basket of crude oil prices, to which China's refined oil prices are pegged, dropped 3.23 percent as of September 26 due to the latest fuel price adjustment, according to Xinhua's latest oil indust...>>>
China's industrial profits rise 24.2 pct in August Sep 27,2013
BEIJING, Sept. 27 (Xinhua) -- Major Chinese industrial firms saw their combined profits rise 24.2 percent year on year in August, quickening from the 11.6-percent rate seen in July that points to further evidence of a firming economy, official data showed on Friday. The profits of industrial companies with annual revenues of more than 20 million...>>>
ASIA SILICON: Prices rise further on tight supply, high demand Sep 27,2013
Spot prices of 98.5% 553-grade silicon metal in Asia rose further this week on tight supply and high demand as Chinese producers limit sales in anticipation of higher prices to come. The Chinese export price was assessed by Platts at $1,930-1,995/mt FOB China Thursday, up from $1,870-1,950/mt FOB China on September 12. There was no assessment la...>>>
Sinopec unit buys North Sea crude oil Sep 27,2013
Chinese oil companies are becoming more active in the international crude trading market, rather than just acquiring the fuel for domestic use. China's top oil refiner, Sinopec Group, has purchased crude from the Forties oil field, the largest field in the North Sea, the Financial Times has reported. The purchase was carried out by subsidiary...>>>
Saudi Oil Minister Says Oil Markets Balanced Sep 27,2013
Oil Markets are currently balanced and inventories are at excellent levels, but the geopolitical situation is having an impact on prices, Saudi Oil Minister Ali al-Naimi said Tuesday. "The market is in a very good position, supplies are adequate and inventories are excellent. Prices are also excellent but they are impacted by geopolitics," he to...>>>
US spot toluene assessment reaches near three-month low Sep 27,2013
US spot toluene prices reached a near three-month low assessment Thursday at $3.75/gal ($1,140/mt) FOB US Gulf Coast. Spot prices were last seen at this level on July 9, according to Platts data. Sources said the downward pressure on toluene spot prices was due to imports from Europe and Asia, adding that arbitrage opportunities were attract...>>>
PTTEP Considers North American Shale Gas Sep 27,2013
Thailand's PTT Exploration & Production PCL, the country's flagship petroleum explorer, might invest in North American shale-gas and Myanmar deep-water projects as part of its plan to nearly double its output by 2020. PTTEP, which made headlines last year when it outbid Royal Dutch Shell PLC and spent $2.2 billion to acquire Cove Energy PLC, own...>>>
100 Spot Commodities Price Chart - 26/09/2013 Sep 27,2013
It was assessed by SunSirs that in the tracked 100 spot commodities,18 commodities increased in prices, 26 fell and 56 remained unchanged on 26/09/2013.The largest rises were Acetone (0.89%),LDPE (0.81%),Acetic acid (0.64%),while the largest falls were...>>>
US coal production falls 5.2% week on week in week ending Saturday Sep 27,2013
US coal production, based on railroad car loading data, totaled about 19.3 million short tons during the week that ended Saturday, the US Energy Information Administration said Thursday in its weekly coal production data. EIA said the estimate is 5.2% lower than the prior week and 0.7% lower than the comparable week in 2012. Production east o...>>>