Chemical News
-
ICE July Brent settles 2 cents lower at $102.62/barrel May 28,2013
Petroleum futures were slightly bearish Monday, with ICE July Brent settling 2 cents lower at $102.62/barrel. Volumes were low and markets rangebound for the most part because of holidays on both sides of the Atlantic. Electronic trading was open on NYMEX, although no settlements were posted. NYMEX July crude ended the session roughly 62 centslo...>>>
European monoethylene glycol May CP fully settled at Eur965/mt FD NWE May 27,2013
The European monoethylene glycol May contract price was fully settled Thursday Eur965/mt ($1,252/mt) FD NWE, industry sources said Friday. It represents a fall of Eur55/mt from April The initial settlement was between Shell as a seller with Indorama, the buyer said. Shell did not confirm. It was followed by Ineos as a seller with Arteco, neithe...>>>
Methanex rolls US methanol CP for June from May at $1.60/gal May 27,2013
Vancouver-based methanol producer Methanex rolled over its US contract price at $1.60/gal ($532.80/mt) FOB US Gulf for June, it said Friday. The rollover marks the second consecutive month that the company's CP has been posted at that level. June's net effective CP, after discounts and rebates that average 13%, would be $1.3920/gal FOB US Gulf. ...>>>
Ukraine sees 2013 gas imports at 27.3 Bcm, lower than 2012 May 27,2013
Ukraine plans to reduce imports of natural gas to 27.3 billion cubic meters in 2013 from 32.9 billion cu m in 2012, according to a forecast recently approved by the Ukrainian government and published on Friday. Ukraine gas imports come primarily from Russia and Europe, with Russian imports declining rapidly because the two counties have failed t...>>>
China 100 Spot Commodities Price Chart - 24/05/2013 May 27,2013
It was assessed by SunSirs that in the tracked 100 spot commodities,10 commodities increased in prices, 26 fell and 64 remained unchanged on 24/05/2013.The largest rises were Silver (0.90%),DOP (0.62%),Copper (0.58%),while the largest falls were Iron o...>>>
US NGV market needs tax incentives to grow faster: Barclays May 27,2013
The US natural gas vehicle market needs federal and state tax incentives if it is to grow appreciably in the next 10 years, an analyst with Barclays said Friday. "If the state is willing to give you $20,000 for an NGV, the economics would improve significantly," according to Barclays analyst Shiyang Wang. "More companies would then want to switc...>>>
FEATURE: Kenya's refinery crisis may hamper regional ambitions May 27,2013
A long-standing dispute over the problems surrounding Kenya's sole refinery in Mombasa is escalating, triggering fears the country could lose clout as an investment magnet for neighboring countries. A financial crisis at the aging plant is fueling calls by the oil industry to modernize or shutter East Africa's only refinery, a move that could le...>>>
BP, Shell, Statoil sued in US class-action suit over EU oil fixing probe May 27,2013
A US commodity trading house has filed a class-action lawsuit in New York against BP, Shell and Statoil, the three European oil companies being investigated by the European Commission for suspected manipulation of oil prices. The oil companies "deliberately reported inaccurate, misleading and false information regarding Brent oil prices to Platt...>>>
US jet fuel differentials firm, Chicago maintains world-high outright price May 27,2013
Jet fuel differentials firmed to end a week that saw production and demand exactly matched in the US, just not in the Chicago market, with its world-high outright prices. Platts assessed Chicago unchanged at NYMEX June heating oil futures plus 23 cents/gallon, the Gulf Coast up 30 points to minus 14.25 cents/gal, New York barges 2 cents higher t...>>>
SM-naphtha spread widens to 8-year high as SM prices rise on low stocks May 24,2013
The price spread between Asian styrene monomer and petrochemical feedstock naphtha hit an eight-year high of $819.90/mt Wednesday on short covering amid low spot inventory in China, Platts data showed. SM prices jumped $10.50/mt day on day to $1,675.50/mt FOB Korea -- hitting a three-month high -- while naphtha fell over the same period by $18....>>>
Initial NWE monoethylene glycol May CP Settled at Eur965/mt FD, down Eur55/mt May 24,2013
An initial European monoethylene glycol May contract price was settled lower by Eur55/mt ($71/mt) to Eur965/mt FD NWE Thursday, industry sources said. The parties involved could not be immediately confirmed. The decrease was driven by feedstock ethylene's tumble. May ethylene contract price settled at Eur1,165/mt FD NWE, down Eur100/mt on A...>>>
US methanol contracts expected flat-to-down for June: sources May 24,2013
US methanol contracts from Methanex are expected to roll over for June while Southern Chemical Corp is expected to decrease by 2-3 cents, market sources said Thursday. "SCC will probably come down so they are within a couple cents of the Methanex price," a source said. If Methanex rolls over the price for June, it would remain at the current ...>>>
China 100 Spot Commodities Price Chart - 23/05/2013 May 24,2013
It was assessed by SunSirs that in the tracked 100 spot commodities,9 commodities increased in prices, 32 fell and 59 remained unchanged on 23/05/2013.The largest rises were Raw silk (0.67%),PTA (0.65%),Dried cocoons (0.42%),while the largest falls wer...>>>
Proposed China ban on low CV coal imports 'catastrophic' for Indonesian prices May 24,2013
China's proposed ban on imports of low calorific value thermal coal will have a serious impact on Indonesian sub-bituminous coal prices, industry sources said Thursday. Platts, quoting well-informed sources, reported this week that Beijing may impose the ban on imports of thermal coal with a calorific value of less than 4,540 kcal/kg on a net-as...>>>
Australia's Horizon sells Papua New Guinea stake to Japan's Osaka Gas May 24,2013
Horizon Oil has agreed to sell 40% of its assets in Papua New Guinea, which it hopes will underpin a mid-scale LNG project, to Japanese utility Osaka Gas for $204 million, the Australia-listed company said Thursday. The purchase price includes $74 million in cash on completion, another $130 million in cash should a final investment decision be t...>>>
NYMEX June gas remains firm midday amid neutral storage build May 24,2013
The NYMEX June natural gas futures contract remained in modestly positive territory midday Thursday after the US Energy Information Administration released a storage report that most market players deemed neutral. As of 12:30 p.m. EDT (1630 GMT), the contract was trading at $4.222/MMBtu, up 3.6 cents from its close on Wednesday. For the week ...>>>
Med gasoline switches to premium over NWE EBOB on low supply: trade May 24,2013
The Mediterranean gasoline cargo market has switched from a $19.75/mt discount under the Northwest European Eurobob market to a premium of $10.75/mt in two weeks, on limited supply, market sources said. "The Med is totally dry...the arbs have been way too good into the Arab Gulf versus the Med ... so all the volumes come from that side of the wo...>>>
Western Canada, US Midwest retail gasoline prices up on refinery, resupply issues May 24,2013
Gasoline prices in Western Canada and the US Midwest have jumped due to supply issues surrounding the turnaround of Suncor's 135,000 b/d Edmonton, Alberta, refinery, industry sources said Thursday. "Suncor's move to secure gasoline and other fuels from other suppliers, this led to a rise in prices," said a Calgary trader. On April 10, Suncor ...>>>
Asian PTA margin hits 10-month high on bearish PX market May 23,2013
The Asian purified terephthalic acid margin on a spot basis hit a 10-month high Tuesday amid the bearish market for feedstock paraxylene due to active selling by Chinese PTA producers, Platts data showed. Based on Platts PTA and PX assessments Tuesday, the Asian PTA margin on a spot basis was calculated at minus $31.50/mt, the highest level sinc...>>>
N Asia PET producers to compete with S Asia in Europe after removal of dumping duties May 23,2013
Northeast Asian PET producers on Wednesday expressed concern about rising competition from Southeast Asian producers in the European market, after the EU Council removed antidumping duties on PET imports from five Asian nations. On Tuesday, the council said it will remove a range of antidumping duties on PET imports from India, Taiwan, Thailand,...>>>