Chemical News
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Oil giants fail environmental tests Aug 30,2013
Govt delays approval of CNPC, Sinopec new projects till '13 emissions evaluation The country's two major oil providers - China National Petroleum Corp and China Petroleum and Chemical Corp - have been punished by the Environmental Protection Ministry for failing their 2012 environmental tests. The evaluation, released on Thursday, was based on...>>>
UK's June thermal coal consumption falls to 2.99 mil mt, 21-month low Aug 30,2013
The UK's monthly thermal coal consumption fell to a 21-month low in June, with the country's power plants burning just 2.99 million mt, down 22% on the month and 11% on the year, according to data released Thursday by the Department of Energy and Climate Change. Total thermal coal burn for the first six months of the year was 26.84 million mt, d...>>>
100 Spot Commodities Price Chart - 29/08/2013 Aug 30,2013
It was assessed by SunSirs that in the tracked 100 spot commodities,24 commodities increased in prices, 16 fell and 60 remained unchanged on 29/08/2013.The largest rises were LLDPE (1.27%),LDPE (0.84%),Hydrochloric acid (0.78%),while the largest falls ...>>>
Coastal coal freight rates from Qinhuangdao port rise for sixth week Aug 30,2013
Freight rates to ship coal from northern China's Qinhuangdao port to the other Chinese ports of Zhangjiagang, Shanghai and Guangzhou continued to move up in the week ended August 28, the sixth week in a row, a weekly report released by Qinhuangdao port Wednesday said. The freight rate from Qinhuangdao to Zhangjiagang for 20,000-30,000 mt capacit...>>>
Asian toluene leads aromatics price surge early Wed on bullish crude Aug 29,2013
The Asian toluene market led a price surge in most Asian aromatic products early Wednesday, driven by crude oil futures rising on geopolitical tensions in Syria. Front-month ICE Brent crude futures hit a six-month high Wednesday, with October ICE Brent crude futures up $1.52/barrel (1.33%) from Tuesday's settle at $115.88/b at 10:30 am in Singap...>>>
NWE styrene premium to benzene hits month high on tight supplies Aug 29,2013
The northwest Europe styrene premium to benzene has hit its highest level in over one month on tight supplies following a potential production issue and vessel delays, according to market sources. At Tuesday's European close, the NWE 3-30 day styrene price was assessed at $1,832/mt FOB ARA, up $14/mt from Friday, and marking a record high, Platt...>>>
Argentinian petchems expansion stalled on gas supply issues: analyst Aug 29,2013
Argentina's petrochemicals industry is unlikely to expand until more natural gas and related feedstock supplies become available when the potential of the country's shale gas plays is turned into production in a decade or so, an analyst said Wednesday. "The big challenge is to find gas feedstock to keep pace with petrochemical demand, which is ...>>>
S Africa's Keaton Energy offers $17.6 mil for Australia's Xceed Resources Aug 29,2013
Johannesburg-listed Keaton Energy has made an A$19.6 million ($17.6 million) takeover offer for Australia-listed Xceed Resources, in an attempt to grow into a more than 5 million mt/year producer of South African thermal coal, Xceed said in a statement Monday. Under the takeover arrangement, Xceed would become a wholly owned subsidiary of Keaton...>>>
CAPP coal front-year price hits fresh lows Aug 29,2013
Central Appalachian thermal coal prices fell for a fourth consecutive session on Wednesday, pushing front-year calendar prices to multi-year lows. Both the CAPP barge physical and rail (CSX) swap contracts traded lower in a mid-afternoon selloff, pushing front year calendar prices to levels not seen since December 24, 2009. In CAPP barge, the...>>>
European light ends at six-month high amidst rallying crude Aug 29,2013
European light ends outright values reached six-month highs, tracking rising crude values, as prices soared amidst growing tensions in Syria. "It's rallying with the crude," said one source, referring to the strengthening of the Northwest European gasoline market. The Eurobob FOB barge market in the Amsterdam-Rotterdam-Antwerp region was assesse...>>>
100 Spot Commodities Price Chart - 28/08/2013 Aug 29,2013
It was assessed by SunSirs that in the tracked 100 spot commodities,22 commodities increased in prices, 20 fell and 58 remained unchanged on 28/08/2013.The largest rises were Silver (2.04%),Methanol (1.07%),LPG (0.49%),while the largest falls were Stea...>>>
Argentina's Chubut province seeks to rebuild oil output this year Aug 29,2013
Chubut, Argentina's biggest oil province, expects to rebuild oil production this year after a decline in 2012, thanks in part to negotiations to get producers to ramp up exploration in exchange for extensions on their field licenses, a government official said Wednesday. "Today we are producing 23,500 cubic meters/day (147,814 b/d) and we have t...>>>
Chinese mining companies have huge receivables Aug 29,2013
Accounts receivables for China's major coal companies reached 330.8 billion yuan ($54.03 billion) at the end of June, the highest level over the past decade, official industry figures showed. According to China National Coal Association, rising accounts receivables - generally invoices raised by business to ask for payment from customers - has ...>>>
China builds massive-capacity nuclear generator Aug 29,2013
CHENGDU - Dongfang Electrical Machinery Co Ltd (DFEM), a major Chinese power generating equipment manufacturer, has completed construction of a 1,750 mW nuclear generator and started transporting it to a nuclear power plant in South China on Saturday. The 1,750 mW generator currently has the biggest per-unit installed capacity among the nuclear ...>>>
Shell seeks bids for ethane feedstock for planned Appalachian cracker Aug 28,2013
Shell Chemical has begun taking bids to secure ethane from Marcellus Shale operators for its proposed world-class petrochemical plant in Beaver County, Pennsylvania, the company said Tuesday. Shell is accepting bids for feedstock from August 27 through October 4. The company has said that securing additional ethane supply for its multi-bill...>>>
China's legislators support renewable energy Aug 28,2013
China's legislators on Monday called for greater support for the development of renewable energy industry which is facing obstacles in planning, purchase system, subsidies and technology. Development of renewable energy must be a priority, with clear goals, as China is suffering poor energy structure, environmental pollution and ecological degra...>>>
Asian spot indium price hits highest level since Oct 2011 as sellers hold back Aug 28,2013
Spot indium prices in Asia have risen to their highest level since October 2011, as sellers hold back expecting prices to rise further in the near term, market sources said Tuesday. Platts assessed the spot indium price at $630-670/kg CIF Japan Tuesday, up from $550-560/kg CIF Japan assessed last Tuesday, and the highest since $680-690/kg CIF Ja...>>>
China's farm produce prices continue to rise Aug 28,2013
BEIJING, Aug. 27 (Xinhua) -- The prices of farm produce in 36 major Chinese cities continued to climb last week, according to official data released Tuesday. The wholesale prices of 18 kinds of vegetables went up 2.7 percent in the week ending Aug. 25 compared with the week earlier, a Ministry of Commerce statement said. The price of eggs ros...>>>
China's industrial profits rise 11.6 pct in July Aug 28,2013
BEIJING, Aug. 27 (Xinhua) -- Major Chinese industrial firms saw their combined profits rise 11.6 percent year on year in July, quickening from the 6.3-percent rate seen in June that points to further evidence of a firming economy, official data showed on Tuesday. The profits of industrial companies with annual revenues of more than 20 million yu...>>>
Large gold deposit found in south China Aug 28,2013
Chinese geologists confirmed on Tuesday that they have discovered a large gold deposit with estimated reserves of 21 metric tons in south China's Guangdong Province. It is the third such gold deposit in the province and has a potential value worth billions of yuan, sources with the Guangdong Geological Bureau said. The deposit is located in w...>>>