Chemical News
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EU styrene premium to feedstocks plummet to six-month low threatening operating rates: market sources Apr 13,2017
European styrene's premium to feedstocks -- ethylene and benzene -- has plunged to a six-month low this week, which could lead to a reduction in operating rates at styrene units, according to S&P Global Platts data and market sources. The styrene spot price was assessed Tuesday at $1,166/mt FOB ARA, down $4/mt on the day, while benzene spot was ...>>>
US sheet steel buyers avoid building inventory amid fears of price erosion Apr 13,2017
Sheet steel buyers in the US remain hesitant to build inventory, as market sources said Wednesday that buyers see prices at a peak or even starting to slide. "People are only buying what they have [purchase orders] for," a trader said regarding domestic sheet. "Nobody at these price levels is putting stock on the floor." The only thing that ...>>>
Iran leaves steel import, iron ore export duties unchanged despite pledges Apr 13,2017
Iran did not make any change in its import duty for steel and export duty for iron ore, despite previous announcements, according to the latest annual import-export regulations published by the country's customs authority. In December 2016, the deputy minister of industry, mines and trade Jafar Sargheini announced that the government had approve...>>>
European RME premium at over 20-month low; FAME 0 at over 16-month low Apr 13,2017
The European RME premium over front-month ICE gasoil fell to an over 20-month low Tuesday of $385/mt, down $19.75 from Monday, as FAME 0 slipped to an over 16-month low of $368/mt on high stocks and falling benchmark vegetable oil prices. European stocks of both RME and FAME 0 have remained high in recent weeks, sources said. Front-month CBOT...>>>
Arch looking to cash in on surging high-vol A export prices: CEO Apr 13,2017
By leveraging its large-output, high-vol A mines, Arch Coal is better positioned to take advantage of the latest surge in metallurgical export prices than most US miners, the company's CEO said Wednesday at the Coal Transportation Association's Spring Conference. In his presentation, John Eaves highlighted the dramatic price increases seen off t...>>>
Options lose market share in ICE cleared thermal coal derivatives market Apr 13,2017
The volume of thermal coal traded and cleared on the ICE Futures platform reached a 2017 high in March, gaining 20.9% month on month to reach 165.26 million mt, data from energy exchange ICE Futures Europe and electronic trading platform globalCOAL showed late Tuesday. Options had lost some market share, however, as March's total cleared derivat...>>>
India's Tata Power to seek coal from countries other than Indonesia after court order Apr 13,2017
Indian private sector power producer Tata Power will consider sourcing coal from countries other than Indonesia, to address under recovery at its imported coal based 4,000 MW ultra mega power plant at Mundra, in western India's Gujarat state, the company said Tuesday. The Supreme Court of India set aside the previous favorable order of the Appel...>>>
Analysis: Iranian oil exports dip in March, floating storage almost cleared Apr 13,2017
Iran's crude oil and condensate exports in March fell slightly from the previous month as refinery runs picked up but the OPEC producer has managed to clear almost all of its oil in floating storage. Iran, which is allowed special status to increase output slightly under the recent OPEC deal, could be switching its focus to improving returns for...>>>
100 Spot Commodities Price Chart - 11/04/2017 Apr 13,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,22 commodities increased in prices, 44 fell and 33 remained unchanged on 11/04/2017.The largest rises were Aniline (1.89%),Gasoline (1.68%),Toluene (1.51%),while the largest falls were...>>>
China's steel exports rise 31% to 7.56 mil mt in March Apr 14,2017
China exported 7.56 million mt of steel in March, rebounding 31% from a three-year low in February but still 24% lower year on year, preliminary data released Thursday by the General Administration of Customs showed. The gain reverses three straight months of decline in exports since December, mainly due to Chinese steelmakers selling in the do...>>>
Formosa shuts PVC unit at Point Comfort, Texas complex: filing Apr 14,2017
Formosa Plastics USA shut a polyvinyl chloride line at its Point Comfort, Texas, plant following a line leak, the company said in a filing Thursday. The unit was taken offline Wednesday following a leak in a 3-inch-diameter degas line, according to a filing with the Texas Commission on Environmental Quality. The event ended Thursday, and include...>>>
European polystyrene buyers may hold off purchases until May on bearish feedstock: sources Apr 14,2017
European polystyrene buyers may be holding off purchases until May, defying initial expectations of a pick up in April demand, as low styrene prices led to a bearish outlook for May prices, sources said this week. Despite a flurry of inquiries reported at the beginning of April, buy interest for GPPS was heard subsiding this week as buyers remai...>>>
Chile to produce 5.6 mil mt of copper in 2017, Escondida strike costs 180,000 mt Apr 14,2017
Chile will produce just under 5.6 million mt of copper this year, up 0.8% from 2016, as the recent strike at the giant Escondida mine wiped out much of an expected increase in mine output, the Chilean Copper Commission (Cochilco) said Thursday. Cochilco head Sergio Hernandez said the 43-day strike had reduced production by 180,000 mt compared wi...>>>
Turkey ferrous scrap imports softer as steel mills remain shuttered Apr 14,2017
Turkey faced another day of silence in the ferrous scrap market, with most sources pointing to the coming constitutional referendum on Sunday as the cause. Prices appeared softer, due to a lack of demand from Turkish mills. "Turkey is dead. There is no scrap market. They are waiting for the referendum (result) on Monday so no buying or selling i...>>>
Chicago ethanol market at four-month high as turnarounds trim output Apr 14,2017
The Chicago paper ethanol market climbed Thursday to a four-month high, as maintenance season trimmed production rates while stocks fell. The front-month Chicago ethanol swap was heard trading as high as $1.6850/gal in the morning. Thursday's trade was the highest level for the swap since S&P Global Platts assessed it at $1.73/gal on December 13...>>>
Weekly US coal production estimate drops to lowest level of year: EIA Apr 14,2017
Weekly US coal production totaled an estimated 13.77 million st in the week that ended Saturday, down 5% from the prior week but up 19.9% from the same week a year ago, US Energy Information Administration data showed Thursday. It was the lowest weekly estimate so far this year, coming in just below the Week 1 estimate of 13.78 million st. Th...>>>
Turkey thermal coal prices under pressure from low power demand Apr 14,2017
Spot prices of thermal coal delivered into the Turkish market lost some ground this week, sliding in tandem with movements in the European market as values continued to seesaw on limited trade indications. S&P Global Platts assessed the weekly CIF Turkey 6,000 kcal/kg NAR 90-day price at $82/mt Friday, losing $1 on the week. Several sou...>>>
Australia's Abbot Point Coal Terminal to receive first coal train Thursday since closure Apr 14,2017
The Abbot Point Coal Terminal in North Queensland, Australia, is due to receive its first coal train on Thursday afternoon, Australian time, since it closed due to Cyclone Debbie in late March, a spokesman for terminal owner Adani told S&P Global Platts on Thursday. The first train, which comes via the Newlands line, will arrive at 16:00 AEST, h...>>>
Analysis: S Korea looks towards US, Russian crudes amid Middle East squeeze Apr 14,2017
South Korean oil refiners are stepping up purchases of US and Russian crudes, in the wake of a squeeze in supplies of Middle Eastern grades after output curbs by the Organization of the Petroleum Exporting Countries. The country's fourth-biggest refiner Hyundai Oilbank said Monday that it had purchased 2 million barrels of US Southern Green Cany...>>>
100 Spot Commodities Price Chart - 12/04/2017 Apr 14,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,21 commodities increased in prices, 32 fell and 46 remained unchanged on 12/04/2017.The largest rises were Silver (2.01%),Aniline (1.26%),Gasoline (0.94%),while the largest falls were ...>>>