Chemical News
-
China's iron ore concentrates price eases $0.70/dmt, fundamentals supportive Mar 14,2017
The Chinese domestic price of iron ore concentrates eased slightly by Yuan 5/dry mt ($0.70/dmt) from last week, tracking iron ore and domestic steel, but steel market fundamentals are supportive in the near term, market sources said Friday. Domestic 66%-Fe ore concentrate delivered to steel mills in Tangshan city in the northern Hebei province s...>>>
OCI Partners sees benefit from tighter global methanol markets Mar 14,2017
A tightening in global methanol supply has strengthened pricing and contributed to a stronger outlook for the market after a soft close to the previous year, methanol producer OCI Partners said Monday. The company expects higher realized pricing throughout the first quarter after "robust increases" in contract and spot pricing, the company said ...>>>
ASIA: The week in petrochemicals Mar 14,2017
Sentiment is bearish across Asian aromatics and olefins markets this week, carrying forward the downward trend seen last week due to ample supply and weak demand in China. Falling crude oil added to the downward pressure on prices. In other markets, sentiment is more upbeat, with strong demand in Southeast Asia and India largely supporting pric...>>>
Kuwait's PIC plans to triple olefins, polymers capacity by 2030 Mar 14,2017
Kuwait's Petrochemical Industries Company plans to more than triple its olefins and aromatics production capacity from the current 5 million mt/year to 16 million mt/year by the year 2030, the official Kuwait News Agency reported Monday. KUNA did not provide specific details on new projects planned. However, it quoted Hosnia Hashem, executive vi...>>>
CME Midwest aluminum swaps rebound on rising Asian premiums, stronger demand Mar 14,2017
Trader quotes for Midwest aluminum premium financial swaps (AUP) on the CME rose on Friday and Monday back to above 9 cents/lb for all prompt months in 2017, following a recent dip which saw bids move to below 9 cents/lb in early March. The rise in CME bids came after the Platts spot transaction premium sustained at the 10 cents/lb delivered Mid...>>>
Steel plate prices in the US continue to trend upwards Mar 14,2017
Steel plate prices were on the rise following price increase announcements approximately 10 days ago, sources said Monday. New prices following the $30-$50/st increases, dependent on product and producer, plate mills looked determined to approach $800/st on a delivered basis. A mill source said he was seeing "a lot of optimism" after meeting ...>>>
'Millions of tons' of line pipe capacity available for pipeline work: producers group Mar 14,2017
US line pipe producers have "millions of tons" of capacity available to ramp up to provide the steel needed for future US pipeline projects, the American Line Pipe Producers Association said Thursday. Voicing its support for President Donald Trump's memorandum promoting the use of American-made pipe and steel in constructing new US pipelines, th...>>>
ASIA ALUMINA: Australia rangebound despite weak Chinese market Mar 14,2017
The Australian alumina market was stable Monday, leaving Platts daily assessment rangebound at $342.50/mt FOB, although it has slipped $2/mt in the last week. Chinese importers reported recent approaches by a notable number of offshore traders and smelters seeking to buy Australian tons for shipment in April and May. While China has withdra...>>>
Late winter storm a positive for coal, but not a market boon: fuel buyers Mar 14,2017
The winter storm moving across the US Midwest into the Northeast will help to boost coal burn across the region in the short term, but won't lead to new spot deals, utility fuel buyers told said Monday. Warm temperatures, reduced power demand and low natural gas prices have mostly erased the near-term market this year, sources said, and the late...>>>
UK Jan thermal coal imports fall 79% on-year to seven-month low Mar 14,2017
The UK's imported 141,670 mt of thermal coal in January, plunging 79% year on year and 77% from December to a seven-month low, according to customs data received Monday. December had seen imports rise to a 10-month high, although volumes did not exceed 700,000 mt in any month of 2016. Shipments to the UK have been declining since its Carbon P...>>>
100 Spot Commodities Price Chart - 13/03/2017 Mar 14,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,22 commodities increased in prices, 36 fell and 41 remained unchanged on 13/03/2017.The largest rises were Zinc (2.31%),Aniline (0.92%),Ethylene glycol (0.84%),while the largest falls ...>>>
Cleveland-Cliffs receives antitrust clearance to move forward with ArcelorMittal USA buy: company Nov 26,2020
Cleveland-Cliffs has received antitrust clearance from the US Department of Justice to move forward with its proposed acquisition of substantially all of ArcelorMittal USA, the company said in a statement Nov. 25. This clearance represents the most significant milestone toward the completion of this transaction, and reaffirms the anticipated cl...>>>
How might the pandemic strengthen the future BRICS relationship? Nov 26,2020
Leaders of the BRICS bloc adopted a conciliatory tone at the 12th BRICS summit online on Tuesday. Chaired by Russia, the message from each of the speeches from the five member countries–Brazil, Russia, India, China and South Africa–was grave but hopeful, affirming the need to take stronger group action in the battle against COVID-19. >>>
Jan-Oct container throughput at Brazil's Itajai, Pecem ports rises on year Nov 26,2020
Container volumes at the Brazilian port of Itajai in the January-October period rose 13.4% year on year to at least 457,000 twenty-foot equivalent unit, a spokesman for operator APM Terminals said Nov. 25 Pecem port saw container shipping throughput rise 7.9% on the year at 309,051 TEU in the same period, APM Terminals said in a press release N...>>>
Guangxi leads way for ASEAN cooperation and pandemic response Nov 26,2020
To support the Belt and Road Initiative and promote scientific and technological cooperation with ASEAN countries, the Guangxi Zhuang autonomous region has opened up various channels and achieved fruitful results. The region has built an all-around scientific and technological cooperation platform to help develop a China-ASEAN inno...>>>
Sinopec cuts East China butadiene prices by 7% Tue to Yuan 17,300/mt Mar 15,2017
China Petroleum and Chemical Corp, or Sinopec, on Tuesday has cut its ex-works butadiene offers in eastern China to Yuan 17,300/mt, or about $2,097/mt on an import parity basis, down Yuan 1,200/mt or 6.5%, market sources said. On Friday last week, the state-run company slashed prices by Yuan 2,500/mt to Yuan 18,500/mt. Sinopec's lower prices ...>>>
European styrene slips below $1,400/mt, tracking Asia lower Mar 15,2017
The European styrene spot price fell below $1,400/mt on Monday, hitting a seven-week low and tracking bearish Asian prices, S&P Global Platts data showed. The 5-30 day spot price was assessed at $1,391/mt FOB ARA Monday, down $56 from Friday and the lowest since January 24. European prices are tracking prices in Asia, sources said. The CFR Ch...>>>
Chile's Antofagasta sees higher copper price as market tightens Mar 15,2017
Chilean copper producer Antofagasta said Tuesday it expected to approve an expansion of its Los Pelambres mine later this year as it grew more confident about further increases in the price of the red metal. Announcing a significant increase in cash-flow as a result of cost-cutting and increased copper production, the company said the $1.05 bill...>>>
Brazil's February long steel exports grow 34% on year: ministry Mar 15,2017
Brazil exported 70,421 mt of carbon steel long products in February, up 34.3% from the 52,430 mt exported in the year-ago month, Trade Ministry data showed. The overall sales value increased 35.2% to $35.35 million FOB, from $26.14 million FOB a year earlier. The increase was led by wire rod shipments, up 88.7% in February to 33,249 mt from 1...>>>
LME contracts for steel scrap, rebar already outpacing 2016 volumes: LME exec Mar 15,2017
Trade volumes based off the London Metal Exchange's two ferrous contract offerings in January and February combined nearly matched all the volumes booked in 2016, according to Marko Kusigerski from the London Metal Exchange. In January and February, 563,860 mt traded off LME contracts based on The Steel Index's heavy melting scrap I/II 80:20 CFR...>>>