Chemical News
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UK's new gas charging regime putting 'severe pressure' on storage: Storengy Nov 26,2020
The UK's new gas charging regime is putting commercial storage operations under severe pressure, a spokesman for operator Storengy UK told S&P Global Platts. After its introduction in October, the 'Postage Stamp' methodology has dramatically increased the cost of using storage and interconnection flexibility, so much so that it presents an exis...>>>
China, Russia eye enhanced energy cooperation for more pragmatic outcomes Nov 26,2020
China and Russia on Tuesday agreed to advance energy cooperation, eying for more pragmatic outcomes and a higher level of bilateral relations. That came at the 17th meeting of the China-Russia Energy Cooperation Committee co-chaired by Chinese Vice Premier Han Zheng and Russian Deputy Prime Minister Alexander Novak via video link.>>>
Copper touches highs not seen since Jan 2014 Nov 26,2020
The London Metal Exchange three-month copper price continued to trade comfortably above $7,000/mt as the bulls continued to circle the metal. Since the pandemic lows seen back in March, when copper went down to around $4,370/mt, the industrial metal has been powering forward. Early on in the session Nov. 25 the metal hit $7,360/mt -- levels las...>>>
Back to basics for Tullow as 'prolific' West African assets back in focus Nov 26,2020
Cash-strapped Tullow Oil has adopted a new game plan, which involves focusing almost solely on growing its offshore West African assets and scaling down exploration in other frontier basins, the company said Nov. 25. Tullow has endured a difficult few years, after a series of operational setbacks raised concerns over its survival. It is hoping ...>>>
US Thanksgiving holiday gasoline prices lowest in five years: EIA Nov 26,2020
The average retail price for gasoline in the US on Nov. 23 was $2.10/gal, lowest for the first day of the week before Thanksgiving since 2015, according to the US Energy Information Administration (EIA). The COVID-19 pandemic has wrecked US gasoline demand since March. Crude oil prices, which generally account for about half the retail gasolin...>>>
Sasol lifts force majeure declaration on LLDPE, HDPE at Lake Charles facility: company Nov 26,2020
Petrochemical producer Sasol has lifted its force majeure declaration on linear low density polyethylene and high density polyethylene at its Lake Charles, Louisiana, complex, Sasol spokeswoman Kim Cusimano said Nov. 25. Sasol previously declared force majeure on Aug. 31 on all North American polyethylene, including all LLDPE and HDPE grades. T...>>>
China methanol prices at year-to-date high on winter supply crunch, up 20% on year Nov 26,2020
The Chinese methanol market has emerged from the pandemic with a V-shaped recovery in the fourth quarter, with CFR China prices hitting a year-to-date high of $254/mt Nov. 25 on expectations of tight methanol supply from Iran in winter. Chinese methanol futures have rallied strongly over the past two weeks on expectations that Iran...>>>
Industry group IATA launches Aviation Carbon Exchange Nov 26,2020
The International Air Transport Association has launched the Aviation Carbon Exchange -- the first centralized, real-time market for trading aviation carbon offsets, it said Nov. 25. ACE is integrated with the IATA Clearing House for the settlement of funds linked to carbon offset credits, allowing a seamless and secure settlement system which ...>>>
US' Deere expects its farm equipment sales to rise 10%-15% in 2021 Nov 26,2020
US' Deere & Company expects its worldwide sales of agriculture and turf equipment to rise 10%-15% in the fiscal year 2021, which started in November 2020, supported by higher commodity prices and improving agricultural fundamentals, the company said Nov. 25. "Higher crop prices and improved fundamentals are leading to renewed optimism in the agr...>>>
Feature: Future China paraxylene start-ups cool enthusiasm for new non-Chinese PX projects Mar 13,2017
Major capacity additions in the Chinese paraxylene market in the next four years, estimated to be at least 20 million mt/year over 2017-2021, are forcing a rethink of new projects elsewhere in Northeast Asia, industry sources said Thursday. The most notable non-Chinese project in Northeast Asia is the proposal to expand South Korean refiner GS C...>>>
NWE benzene hits two-month low on US styrene's drop, Asian stocks Mar 13,2017
The European spot price of benzene hit its lowest since January 5 on Thursday at $899/mt CIF ARA, down $39.50 from Wednesday. Low demand from styrene producers in the US Gulf because of plant outages, coupled with a sharp drop in Asian benzene prices due to high stocks have caused European benzene prices to plunge $183/mt since mid-February. ...>>>
Turkish import ferrous scrap stable; US sales consistent Mar 13,2017
A sale from a relatively unknown US scrap yard confirmed a stable market for deepsea ferrous scrap on Tuesday, though some sources said the $300/mt-plus pricing environment could soon take a downwards turn. The US scrap merchant sold an unspecified volume cargo to an EAF-based producer in Samsun, with 80:20 prices at $303/mt. The booking also...>>>
Molybdenum climbs further as sellers hold back units Mar 13,2017
Tight availability of molybdenum units continued to push molybdenum prices higher Thursday. In Asia, a Chinese trader source said it had received a flurry of inquiries following the higher overnight prices led by buying in Europe and India. Deals in Busan were concluded at $8.10/lb and $8.20/lb. Offers were made at $8.25-$8.30/lb in Asia, wit...>>>
Vietnam's Vinacomin to withdraw packing option for alumina sales Mar 13,2017
Vietnam's Vinacomin plans to change the terms of its alumina sales contracts, giving the seller rather than buyer, the option of shipping in bulk or bags, a company official said Thursday. Vinacomin's ability to ship in bulk would depend on "shipping times" and "logistic conditions," he said. Alumina typically trades in bulk, as the majority ...>>>
Australia's Port Kembla coal terminal in talks to avert mid-week strike Mar 13,2017
The Port Kembla Coal Terminal in eastern Australia is holding talks in a bid to head off the threat of a three-day strike from next Wednesday, a PKCT official said Friday. "Port Kembla Coal Terminals confirms notification from the CFMEU [union] of Protected Industrial Action scheduled for March 15-17," she said. The coal terminal's management...>>>
CERAWeek: EPA Administrator Pruitt says rules must give market certainty Mar 13,2017
(This version of the story has been updated with comments on Clean Power Plan, methane, fuel standards) US Environmental Protection Agency Administrator Scott Pruitt extended a hand of friendship to the energy industry Thursday, expressing his desire to reshape the office he heads into one that cooperates with stakeholders instead of one that cr...>>>
Key Indian ports' Apr-Feb thermal coal shipments fall 12% on year: IPA Mar 13,2017
India's 12 major government-owned ports handled 85.06 million mt of thermal coal over April 2016 to February 2017, down 12% from the same period a year earlier, latest Indian Ports Association data showed Thursday. Coking coal shipments received by the 12 ports over the first 11 months of the current 2016-17 fiscal year (April-March) totaled 42....>>>
UAE's ADNOC, South Korea fail to renew Yeosu crude oil storage agreement Mar 13,2017
South Korea's state-run Korea National Oil Corp and Abu Dhabi National Oil Co have failed to renew their joint crude storage agreement in Yeosu on the country's southwest coast, a KNOC official said this week. "ADNOC's three-year contract recently expired and we have failed to renew it," the official said, but declined to give the reason. ADN...>>>
Rising Middle East straight-run fuel oil output displaces European flows to Asia Mar 13,2017
Increased high sulfur and low sulfur straight-run fuel oil output in the Middle East, most specifically in the UAE, is providing competition for European straight-run flows into Asia in the second quarter, according to sources this week. Europe's straight-run fuel oil production is typically delivered into the US Gulf Coast or east Asia, althoug...>>>
100 Spot Commodities Price Chart - 10/03/2017 Mar 13,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,11 commodities increased in prices, 46 fell and 42 remained unchanged on 10/03/2017.The largest rises were Aniline (0.61%),Zinc (0.57%),Aluminum (0.45%),while the largest falls were BR...>>>