Chemical News
-
China's SM imports seen to drop as CFR China/domestic price spread widens to 11-month high Feb 22,2013
The price gap between imported and domestically produced styrene monomer in key consumer market China, which hit its widest 11-month high Monday, may dampen demand for imports and potentially restrict buoyant global SM prices, market sources said Thursday. The spread between the two prices hit $67.70/mt on Monday -- the highest since March 29, 2...>>>
Styron targets March polycarbonate price hike; seeks to recoup lost margins Feb 22,2013
Plastics and rubber major Styron plans to raise polycarbonate prices in Europe from March 7 by Eur270/mt ($356/mt) due to unsustainably thin margins and feedstock cost increases, it said Thursday. "For the polycarbonate industry, 2012 will go down in history books as an extremely turbulent year, characterized by historically low and unacceptable...>>>
ExxonMobil nominates March US butadiene CP up 3 cents/lb: sources Feb 22,2013
ExxonMobil nominated its March US butadiene contract price at 86 cents, up 3 cents/lb ($66/mt), sources said Thursday. ExxonMobil spokeswoman Margaret Ross declined to comment. Market expectations have been for March US contracts to rise 5-10 cents/lb due to higher spot prices and tightening US butadiene supply. The US butadiene spot price...>>>
UK GAS: Prompt prices rise on higher demand, revised forecasts Feb 22,2013
Prompt prices gained value Thursday morning on the UK's NBP gas trading hub as demand rose, storage facilities were heavily utilized and temperature forecasts were revised lower. At 1200 London time, same- and next-day contracts were each valued at 68.10 pence/therm, up by 1.20 and 0.30 p/th respectively from Wednesday's close. National Grid ...>>>
NYMEX March gas futures settle down 3.3 cents despite supportive Feb 22,2013
NYMEX March natural gas futures settled 3.3 cents lower at $3.246/MMBtu Thursday despite a 127-Bcf storage draw that was above analysts' expectations. "Bulls were unable to push through resistance ... for a second day and it now looks as if bullish traders are exiting their positions ceding control to the bears," noted Gelber & Associates analys...>>>
NWE coaster butane prices supported by tight refinery availability Feb 22,2013
Spot prices for delivered coaster cargoes of butane in Northwest Europe are being supported by tight refinery availability, according to industry sources this week. During the winter significant quantities of refinery butane are blended into gasoline to increase the vapor pressure with any surplus product usually exported on coaster vessels whi...>>>
US crude production tops 7 mil b/d in January for first time in 20 years: API Feb 22,2013
US crude production rose to 7.01 million b/d in January for the first time in 20 years, the American Petroleum Institute said Thursday. Domestic crude production, including condensate, was up 14.3% from output of 6.14 million b/d in January 2012 and up 0.6% from December, the API said in its monthly statistical report. Year-over-year increase...>>>
NWE solvents producers pressured by weak euro to increase prices despite lower demand Feb 21,2013
European solvents producers are under pressure to increase prices due to the drop in the value of the euro against the dollar despite poor-to-stable demand, sources said this week. In some cases, firm feedstock prices for most of February helped to support these increases. But a fall in the value of the euro meant suppliers were faced with highe...>>>
PetroRabigh's PE, PP plants still only partially running: sources Feb 21,2013
Saudi PetroRabigh's polyethylene and polypropylene plants are still only partially running even though they were started up last month following maintenance work, sources close to operations said. The plants were closed so that necessary maintenance could be carried out following an unplanned shutdown on December 29 caused by a power outage, the...>>>
Asia SM-benzene spread hits 15-month high on firm SM, weaker benzene Feb 21,2013
The spread between styrene monomer and its main feedstock benzene widened in Asia to a 15-month high of $331.50/mt Monday, as SM prices are supported by a series of plant turnarounds while benzene was on a downtrend along with US prices, Platts data shows. SM was last assessed at $1,730.50/mt FOB Korea on Monday, up $1.50 from Friday, while benz...>>>
EUROPEAN COAL: March DES cargo trades at highest level in over two months Feb 21,2013
The European-delivered thermal coal market traded at its highest level in over two months Wednesday afternoon as sources said that the market is finally reacting to tightening supplies following the ongoing disruption in Colombian exports. A 50,000 mt generic origin March DES Rotterdam shipment traded at $90.50/mt through London Commodity Broker...>>>
Southeast Asian share to be a third of Asia's LNG demand growth by 2025: Wood Mackenzie Feb 21,2013
Southeast Asia's LNG demand would represent a third of Asian LNG demand growth by 2025, while India's would represent one-seventh, Nicholas Browne, Senior Gas Market Analyst at Wood Mackenzie said Wednesday. Total Southeast Asian LNG demand will hit 47 million mt/year by 2025, an increase of 45 million mt/year from current demand levels of 2 mi...>>>
Obama plan calls for quicker approval of pipelines, renewables Feb 21,2013
The White House Wednesday unveiled details of an infrastructure spending plan that includes faster approvals for certain energy projects. The plan, which calls for spending $50 billion on transportation infrastructure and new partnerships between government and private companies for infrastructure projects, includes a plan to quicken approvals f...>>>
Asian butadiene prices hit 6-month high on tight supply, new rubber plants Feb 20,2013
Asian butadiene prices hit a more than six month high Monday on tight availability amid the startup of new synthetic rubber plants in China and higher naphtha feedstock costs. Butadiene prices surged 44% from a 2012 low of $1,455/mt FOB Korea on December 7 to $2,100/mt on Monday, Platts data showed Tuesday. The last time the butadiene benchma...>>>
Ineos' chlor-alkali/vinyls rationalization planned for Q2 Feb 20,2013
Ineos ChlorVinyls plans to close its 149,000 mt/year mercury chlorine cell room at Wilhelmshaven, Germany during the second quarter of 2013, a company source said Tuesday. The previously announced move to reconfigure its 300,000mt/yr vinyl chloride monomer unit to produce ethylene dichloride at Runcorn in the UK will also take place during the ...>>>
Toluene disproportionation margins negative for the first time since November 15 Feb 20,2013
US toluene disproportionation margins were estimated at minus $15.09/mt Friday, based on Platts data, putting them in negative territory for the first time since November 15, when they were estimated at minus 55 cents/mt. Estimated TDP margins became negative amid decreasing benzene levels, against firm US spot toluene and MX levels. Benzene ...>>>
DAK Americas, Nan Ya raising March PET prices 2 cents/lb: letters Feb 20,2013
DAK Americas and Nan Ya Plastics intend to raise polyethylene terephthalate prices for March by 2 cents/lb, according to a pair of letters obtained Tuesday by Platts. Both companies cited higher raw materials costs as the reason for the increase. DAK Americas sent letters to customers Monday. Nan Ya notified customers Tuesday. The February fo...>>>
LNG-watchers expect Obama, Japan PM to discuss potential exports this week Feb 20,2013
The looming decision on expanding US liquefied natural gas exports will likely be on the agenda during this week's meeting between Japanese Prime Minister Shinzo Abe and President Barack Obama, industry observers said Tuesday. "It's just something that I know is pretty high on the list of priorities for the government of Japan," said James Fathe...>>>
BP ready to go to court in Macondo civil liability trial in US Feb 20,2013
BP said Tuesday it is ready to defend itself in court over civil liability charges brought against it in the US over the Macondo oil spill after attempts to settle out of court failed. BP late last year agreed with the US Department of Justice a $4 billion settlement over criminal charges against the company, which was approved by a US judge at ...>>>
China's secrecy over oil demand, stock data a hurdle to energy security: IEA Feb 20,2013
The International Energy Agency remains largely in the dark over the real pace of China's surging oil demand despite long-running attempts to persuade the county to publish official data on consumption and oil stocks, the IEA's top energy security official said Tuesday. China continues to turn down requests for information on its oil demand and ...>>>