Chemical News
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China may see more pricing reforms after Beijing hikes gas prices by 11% Dec 05,2012
The 11% increase in natural gas prices in Beijing implemented by the local government last week is an indication that the central government might soon unveil more gas pricing reforms, analysts said Tuesday. The Development and Reform Commission in Beijing increased residential gas prices by Yuan 0.23 (3.6 cents)/cubic meter to Yuan 2.28/cu m fr...>>>
INTERVIEW: IEA's Birol says weak economies in demand centers to pressure oil prices Dec 05,2012
The main factor in determining oil prices next year, whether they will hold near current levels or come off what looks to be the highest ever annual average, will depend on how the economies of the world's main demand centers fare, International Energy Agency chief economist Fatih Birol said Tuesday. "The United States is struggling. Europe is g...>>>
China 100 Spot Commodities Price Chart - 04/12/2012 Dec 05,2012
It was assessed by SunSirs that in the tracked 100 spot commodities,21 commodities increased in prices, 29 fell and 50 remained unchanged on 04/12/2012.The largest rises were Soybean meal (1.08%),PET (0.98%),LLDPE (0.78%),while the largest falls were A...>>>
Asian solvent-MX soars to more than 4 year high at $1,260/mt CFR China on firm demand Dec 04,2012
Asian solvent-grade mixed xylenes prices surged $22/mt week on week to a 53-month high of $1,260/mt CFR China Friday on firm demand and low inventory in China over the past three weeks, according to Platts data. The last time the marker was any higher was on June 13, 2008, when it touched $1,265/mt CFR China, which is its historic high. The i...>>>
Saudi Arabia's Samapco secures $528.5 mil loan for caustic soda, EDC project Dec 04,2012
Saudi Arabia's Sahara Petrochemicals Company said late Thursday that its subsidiary Sahara and Maaden Petrochemicals Company, or Samapco, has secured a loan worth Saudi Riyals 1.98 billion ($528.2 million) from a consortium of Saudi banks. The consortium, which comprises Banque Saudi Fransi, Riyad Bank and The Saudi British Bank, will provide I...>>>
Oman's Octal still selling PET in Europe despite force majeure: MD Dec 04,2012
Oman's Octal Petrochemicals is still offering polyethylene terephthalate in Europe despite a force majeure, contrary to suggestions by some market sources, the company's managing director said Thursday. A European PET converter said Wednesday that the producer had contacted buyers to tell them it was postponing availability of PET until January....>>>
Average US methanol spot price climbs in November to 4-year high Dec 04,2012
The average spot price of methanol in the US for November was $1.2701/gal FOB US Gulf, the highest spot average since September 2008 when it was $1.40/gal FOB US Gulf. This is an increase of 4.15 cents, or 3.37%, from October's average spot price of $1.2286/gal FOB US Gulf. The consistently high spot prices have been seen as the result of con...>>>
Coking coal exports from Australia's Newcastle PWCS terminals double in Nov Dec 04,2012
Of the total coal exported from Port Waratah Coal Services' terminals at Newcastle port last month, 20% comprised coking coal -- around double from October's monthly volume -- as exporters stepped up their flow of higher-value coal cargoes through the Australian port, data released Monday showed. PWCS, whose customers include Rio Tinto and Xstra...>>>
China considers linking gas prices across chain, national trading market Dec 04,2012
China will consider linking gas prices across the value chain as well as the establishment of a national natural gas trading market during the current 12th Five Year Plan period to 2015, according to an official development plan for natural gas released Monday by the National Development and Reform Commission. The NDRC, the country's top economi...>>>
Sinopec, CNPC end Nov oil product stocks in China's 13 grain provinces rise on month Dec 04,2012
China's commercial inventories of oil products in 13 grain-producing provinces held by state companies Sinopec and China National Petroleum Corp. totaled 3.78 million mt as of November 25, the National Development and Reform Commission said Friday. This is higher than total stocks of 3.75 million mt as of October 26. Stocks of gasoil, which i...>>>
Morgan Stanley trader was probed at Goldman: sources Dec 04,2012
(Reuters) - Morgan Stanley hired former Goldman Sachs trader Edward Glenn Hadden to run its Treasury bond desk last year, even though his former employer had placed the trader on paid leave for about a year following an internal inquiry, said three people familiar with the situation. The inquiry by Goldman involved a matter separate from an ongo...>>>
China 100 Spot Commodities Price Chart - 03/12/2012 Dec 04,2012
It was assessed by SunSirs that in the tracked 100 spot commodities,27 commodities increased in prices, 33 fell and 40 remained unchanged on 03/12/2012.The largest rises were Nickel (2.95%),Hydrochloric acid (2.94%),Bromine (1.27%),while the largest fa...>>>
China's Jan-Oct refinery sector investment up 18% to $21 bil on year Dec 03,2012
Fixed asset investment in China's refining industry totaled Yuan 130 billion ($20.9 billion) from January to October, the National Development and Reform Commission said on its website Thursday. This was an 18.2% increase from the same period last year, but growth was 2.5 percentage points lower than total fixed asset investment expansion across...>>>
Borealis says Belgian propane dehydrogenation run rate halved through year-end Dec 03,2012
Production run rates at Borealis' propane dehydrogenation (PDH) plant in Belgium will remain halved until the end of the year, the company said Friday. The PDH plant, located in Kallo near Antwerp, produces around 480,000 mt/year of propylene. Borealis shut the plant's reactor in mid-November for maintenance, but kept the splitter running tha...>>>
US Gulf Coast ethane prices fall to 10-year low on high inventories Dec 03,2012
The US Gulf Coast non-LST purity ethane assessment has fallen to its lowest level since August 2002, according to Platts data, a move attributed to increasing supplies form shale gas plays across the US. Ethane has fallen 68% on the year, based on the Platts assessment Thursday. It was heard trading slightly stronger Friday morning at 26.375 ce...>>>
Panamax coal freight rates end week lower, after recent strengthening Dec 03,2012
Panamax coal freight rates on established routes from South Africa's Richards Bay and Indonesia to India ended the week lower Friday with sources expressing skepticism over whether a rise seen over the past few days was sustainable in the short term. "Freight rates are at an all-time low and it's getting worse every day," a Singapore-based sourc...>>>
AGA targets cybersecurity, pipeline safety as top 2013 priorities Dec 03,2012
Pipeline safety and cybersecurity will top the list of priorities for the American Gas Association in 2013, Ron Jibson, the incoming AGA chairman, said Friday. The US group will have a new emphasis on cybersecurity, said Jibson, the president and CEO of Salt Lake City, Utah-based Questar, at a press briefing. "It is not a matter of if, but when....>>>
Angola's Cabinda-Dalia crude spread widest since October 2011 Dec 03,2012
The differentials spread between Angolan crude grades Cabinda and Dalia has reached its widest point in more than a year, as the market shuns the heavier Dalia in favor of the lighter, more popular Cabinda, market sources said Friday. On Thursday, Platts assessed Cabinda at Dated Brent plus $0.385/barrel, and Dalia at Dated Brent minus $1.665/b,...>>>
China 100 Spot Commodities Price Chart - 30/11/2012 Dec 03,2012
was assessed by SunSirs that in the tracked 100 spot commodities,18 commodities increased in prices, 22 fell and 60 remained unchanged on 30/11/2012.The largest rises were Silver (1.05%),Copper (0.57%),Nickel (0.50%),while the largest falls were Glass (>>>
Egypt's top court shuts down, blames Islamist protesters Dec 03,2012
The Supreme Constitutional Court said it would not convene until its judges could operate without "psychological and material pressure", saying protesters had stopped the judges from reaching the building. Several hundred Mursi supporters had protested outside the court through the night ahead of a session expected to examine the legality of par...>>>