Chemical News
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Gold has more upside as prices jump on US GDP report, tumbling dollar: survey Jul 31,2017
Gold prices are expected to add to their recent gains next week, respondents to the S&P Global Platts Gold Sentiment Survey said Friday, as the dollar dropped to new lows following disappointing GDP readings for the US economy. GDP in the world's largest economy climbed at an annualized rate of 2.6% in the second quarter, up from 1.2% in the fir...>>>
Brazil's Usiminas plans to hike prices for HDG and plate in August: CEO Jul 31,2017
Brazilian integrated steelmaker Usiminas is planning a price adjustment for hot-dip galvanized products and heavy plate for the distribution segment, CEO Sergio Leite said during a conference call for the company's Q2 financial results Friday. "For HDG, we are implementing a 10.4% adjustment from August 10. For heavy plate, 5.6% from August 20,"...>>>
Spread-driven aluminum buying limited so far in Asia: sources Jul 31,2017
Aluminum restocking driven by wider London Metal Exchange spreads has been limited in Asia, with most interest from Europe and US-based buyers, market sources said Friday. A producer and an international trader said inquiries have increased in the past few weeks clearly due to the wider contango spread, mostly from Europe, followed by the US and...>>>
European ferrovanadium nears 9-year high Jul 31,2017
Ferrovanadium prices continued its bull run, putting on close to $10 on the week. Platts assessed its weekly European ferrovanadium price on Thursday 27 July at $34-$41/kg from $27.50-$29/kg. This is close to a nine-year high prices were at $38-$43/kg November 8, 2008. Market participants said offers had reached $42/kg in Rotterdam on Thursda...>>>
Korea's Hyundai Steel bids higher for H2 while Asian bulk also edges up Jul 31,2017
South Korea's leading electric arc furnace mill, Hyundai Steel, raised its bid price Thursday for Japanese H2 scrap by Yen 1,000/mt from its previous week's bid to Yen 29,500/mt FOB, a source close to the company said. The steelmaker is heard to have secured a little more than 20,000 mt at its latest bid price as of Friday afternoon, sources sa...>>>
SunCoke's Q2 coal handling volumes total 5.2 million st, up 23% Jul 31,2017
SunCoke Energy's coal handling volumes increased to 5.2 million st during the second quarter, up 22.9% from the year-ago quarter, the company said Thursday. For the first half of 2017, tons handled totaled 10.9 million st, up 27.8% from the same period in 2016, the Lisle, Illinois-based company said in an earnings presentation. SunCoke, which...>>>
US coal train loadings strengthen with increased PRB output: railroads Jul 31,2017
US coal train loadings climbed for the second straight week with continued increases in Powder River Basin volumes. Data filed by the four major US railroads -- CSX, Union Pacific, BSNF and Norfolk Southern -- for the week ended July 21 showed nationwide coal loadings averaged 100.9 trains/d, up from 99.7 trains/d the previous week. PRB loadi...>>>
100 Spot Commodities Price Chart - 28/07/2017 Jul 31,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,23 commodities increased in prices, 24 fell and 52 remained unchanged on 28/07/2017.The largest rises were Adipic acid (1.49%),PA6 (1.38%),LPG (1.10%),while the largest falls were Natu...>>>
China's Yussen to start commercial output at new Huizhou MTBE plant in mid-Aug: sources Aug 01,2017
Yussen Chemical is expected to start commercial production at its new 450,000 mt/year Huizhou MTBE plant in southern China's Guangdong province by August 20, after having started trial runs at the plant this week, traders with knowledge of the matter said Thursday. MTBE output from the plant would be mainly marketed to nearby CNOOC's 240,000 b/d...>>>
Mexico's Pemex sees PE output trend higher in June: company data Aug 01,2017
Pemex saw its overall polyethylene production increase by more than 2,000 mt in June while also posting a year-on-year increase last month, according to data released Monday by the Mexican state-owned company. June saw Pemex produce 33,840 mt of PE last month, up 2,009 mt (6.3%) from May and 1,434 mt (4.4%) higher than when compared with June 20...>>>
Europe: The week in petrochemicals, w/c Jul 31 Aug 01,2017
Sentiment is mixed in the European olefins market as minor production issues meet an expected slowdown in demand. OLEFINS European spot ethylene prices are likely to remain at a 2-3% discount to the August contract price, settled at a rollover last week at Eur965/mt (about $1,132/mt). Ethylene spot market availability will remain somewha...>>>
Asia: The week in petrochemicals, w/c Jul 31 Aug 01,2017
Asian benzene was mostly stable last week, while ethylene was up week on week. AROMATICS Benzene remained mostly stable last week on quiet Chinese spot demand and mixed movements in the downstream styrene monomer market. Due to weaker Chinese demand for August supplies, the August/September market structure was in a contango of $3-4/mt. Stoc...>>>
COMEX net long copper positions up 15% on week to 24-week high: CFTC Aug 01,2017
Net long copper positions on US commodities exchange COMEX rose 15% to 85,485 contracts in the week ended July 25, the highest since February, Commodity Futures Trading Commission data showed Monday. It was the second consecutive increase in bullish money mangers' positions, up 27% in the last two weeks, but below January's record net long posit...>>>
Brazilian ferrous scrap prices stable, but hike in sight Aug 01,2017
Brazilian domestic ferrous scrap prices remained stable in late July, but talks about an increase of up to 10% for August negotiations have started to pop up in the market, dealers said Monday. The S&P Global Platts weekly assessment of clean steel scrap was stable at Real 450/mt ($141/mt), based on a range of Real 440-460/mt for bids, offers an...>>>
Iran's Esco produces 522,814 mt of crude steel in latest three months Aug 01,2017
Esfahan Steel Co, Iran's largest producer of constructional steel products, said it produced 522,814 mt of crude steel in the first three months of the Iranian year (to June 20), slightly higher year on year. Some 361,307 mt of both finished and semi-finished products -- including 258,713 mt of billet -- was exported by Esco in the three months,...>>>
Chamber of Mines warns 100,000 jobs at risk in South Africa Aug 01,2017
The Chamber of Mines -- which represents 90% of South Africa's mining companies -- said Monday that 100,000 jobs could be at risk if the government pushed ahead with its Mining Charter III. In September, mining companies will challenge Mining Charter III, which calls for black ownership to be increased t 30% from 26% and be maintained, in a bid ...>>>
Ethanol tax cut fails to propel prices in Brazil Aug 01,2017
Ethanol prices in Brazil remained unchanged Monday, on the first trading day after government announced an anticipated cut in hydrous taxes. The federal government decided late Friday to accept claims by ethanol producers, which argued recently applied tax increases were above the amount allowed by the law. One week earlier, the government ha...>>>
Platts T2 ethanol slips to three-month low; bearish sentiment persists Aug 01,2017
Platts T2 ethanol fell to a three-month low Friday at Eur554/cu m, down Eur10.50/cu m week on week as bearish sentiment continued. Expectations of increased supply and lower demand edged the market lower on the week as liquidity began to wane and July draws to a close. "No one needs barrels like they did at the start of the month," a source s...>>>
100 Spot Commodities Price Chart - 31/07/2017 Aug 01,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,41 commodities increased in prices, 19 fell and 40 remained unchanged on 31/07/2017.The largest rises were Metal Silicon (3.44%),Sulfuric acid (2.68%),Ethylene oxide (2.19%),while the ...>>>
CPTPP marks a higher level of free trade Nov 30,2020
The Regional Comprehensive Economic Partnership, which was signed in mid-November by China, Japan, Australia, New Zealand and the ASEAN countries, when fully implemented, will be the world's biggest free trade agreement measured in terms of GDP. It will inject strong momentum into regional and global economic growth, and further pr...>>>