Chemical News
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US EIA says Midwest gasoline stocks fall for first time in 3 months Mar 15,2018
Stocks of gasoline in the US Midwest contracted for the first time in three months in the week ended March 9, Energy Information Administration data showed Wednesday. Last week Midwest stocks fell 817,000 barrels to reach 60.07 million barrels. This was the first decline in Midwest stocks since the week ended December 15, 2017. Historically...>>>
Molybdenum oxide market moves lower on Asia sales Mar 16,2018
After holding steady for the previous two days, molybdenum oxide prices moved lower Thursday, mainly on sales in Asia. Spot lots of oxide powder were reported sold in Busan at $12.65/lb, $12.70/lb and $12.75/lb, with one seller saying they rejected bids at $12.60. "We tried to sell in Asia at $12.75 and $12.80, but nobody wanted it," said a E...>>>
US hot-rolled coil prices hold as buyers see limited offers Mar 16,2018
US flat-rolled steel prices continued to hold Thursday as buyers reported seeing limited quotes for spot purchases. The daily Platts TSI US HRC assessment was calculated at $852.50/st Thursday, unchanged on day, while the daily Platts TSI US CRC assessment was calculated at $971/st, up $2.25 from Wednesday. A service center source said he w...>>>
Aluminum Association welcomes ITC injury finding on foil imports from China Mar 16,2018
The Aluminum Association welcomed a decision Thursday by the US International Trade Commission, which determined the domestic aluminum foil industry has been materially injured by foil imports from China. As a result of a unanimous vote by the ITC, the US Department of Commerce will impose antidumping duties ranging from 48.64%-106.09% and count...>>>
Europe's acrylonitrile butadiene styrene import arbitrage from Asia wide open Mar 16,2018
Europe's import arbitrage from Asia for acrylonitrile butadiene styrene is wide open, according to S&P Global Platts data. In Europe, the ABS spot price was assessed at Eur1,860/mt ($2,299/mt) FD NWE Wednesday, unchanged on the week. In Asia, the CFR China price was assessed at $2,010/mt on Wednesday, down $50/mt on the week, and down $100/mt si...>>>
Global petroleum coke prices continue to push higher Mar 16,2018
Global petcoke prices kept chugging higher this week despite a consensus among buyers the market is overpriced and a correction is due. "I'd say some type of correction is coming unless coal prices rise again, but it's hard to know how soon or how much," said a US-based market participant. "[Prices] could trend down after March, but part of that...>>>
US coal production drops across all major basins as spring approaches Mar 16,2018
Weekly US coal production totaled an estimated 14.81 million st in the week ended March 10, down 1.9% from the prior week but up 2.4% from the year-ago week, US Energy Information Administration data showed Thursday. Production estimates peaked in the week ended February 3 at 15.87 million st and have largely declined since, with the most recent...>>>
Argentina eyes increasing gas exports to Chile as production rises Mar 16,2018
Argentina plans to increase natural gas exports to Chile, helping to encourage production growth in the giant Vaca Muerta shale play, while importing supplies from that country to meet peak demand, Energy Minister Juan Jose Aranguren said Thursday. "It's probable that we will continue importing regassified LNG from Chile in the winter" to meet peak...>>>
Argentina prepares first offshore bidding round in decades Mar 16,2018
Argentina plans to launch its first offshore licensing round in almost three decades this year, as it seeks to widen exploration for longer-term production growth, Energy Minister Juan Jose Aranguren said Thursday. Round One, as it has been dubbed, will be launched in June or July for 240,000 sq km (59.3 million acres) in three zones of the cont...>>>
US foreign policy turn could take 1.4 million b/d off global oil market: analysts Mar 16,2018
An expected, aggressive turn in US foreign policy led by incoming Secretary of State Mike Pompeo could trigger a loss of up to 1.4 million b/d in global crude supply by the end of 2018 as the Trump administration ramps up sanctions on Venezuela and Iran, analysts said. Pompeo, the CIA director whom President Trump picked Tuesday to replace Rex T...>>>
Feature: US refiners still at sea about operational impacts of IMO 2020: AFPM Mar 16,2018
US refiners expect major market shifts for the fuels they produce when the lower sulfur bunker fuel specification takes effect globally in 2020, but exactly how that will affect operations remains murky. One thing is certain, the International Maritime Organization has made it clear the mandate is here to stay and there is no going back. "Thi...>>>
100 Spot Commodities Price Chart - 15/03/2018 Mar 16,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,19 commodities increased in prices, 19 fell and 62 remained unchanged on 15/03/2018.The largest rises were Cobalt (1.07%),Iron ore (0.91%),Methanol (0.71%),while the largest falls were...>>>
Combined coal stocks held by China's six key power generators up 5.5% on week Mar 19,2018
Combined coal stocks held by China's six key coal-fired power generators in southern and eastern China totaled 14.03 million mt on March 15, up 5.5% from 13.30 million mt on March 8, according to figures released by port operator Qinhuangdao Port on Thursday. The six key power generators are: Zhejiang Power, Shanghai Power, Guodian, Datang, Huan...>>>
Houston ethanol premiums remain strong amid strong exports Mar 19,2018
The Houston ethanol market's premium to the front-month Chicago ethanol swap remained at 10.5 cents/gal Friday as available product was tough to find despite high stocks. "It's a combination of exports and poor [Union Pacific] performance," said one source. The premium spiked to 14.25 cents/gal in late February, its highest since December 2...>>>
East Asia containerized ferrous scrap creeps to more than 3-year high Mar 19,2018
The East Asian containerized heavy melting scrap market edged up for the fifth consecutive week, reaching the highest level since June 2014, sources said. Platts assessed the weekly east Asian containerized HMS I/II 80:20, CFR Taiwan port, scrap price at $370/mt CFR Friday, up $5/mt from a week ago. Deals were heard being concluded for US-ori...>>>
Rhodium breaks above $1,900/oz on industrial buying Mar 19,2018
Rhodium prices broke over the $1,900/oz mark this week on sizable buying from industrial consumers from midweek onward. The Platts New York Dealer rhodium price range rose to $1,840-$1,915/oz this week from $1,825-$1,865/oz last week, with sizable volumes trading hands, especially during midweek, market sources said. "The last couple of day...>>>
NWE benzene market at four-month low, weighed on by Asian market length Mar 19,2018
The spot price of benzene in Northwest Europe has fallen to a four-month low, weighed on by length in Asia, sources said. The European spot price was assessed at $861.50/mt CIF ARA on Thursday, down $14.50/mt day on day to its lowest since November 3, S&P Global Platts data showed. On Friday afternoon, bid-offer ranges for March and April del...>>>
Coal to overtake natural gas in UK power supply mix next week as cold returns Mar 19,2018
Coal is expected to overtake gas as the dominant fuel in the UK power supply mix next week as cooler temperatures return over the weekend and day-ahead clean dark spreads for Monday rise, traders said. * Traders nervous about low gas storage * Coal generation nearly 2 GW below gas on Friday * Wind drops next week, supply markets tight T...>>>
Weekly US coal train loadings flat this week, but up from a year ago Mar 19,2018
Coal train loadings were roughly flat in the week ended March 9, but were 10.6% higher than the year-ago week, according to weekly Surface Transportation Board data. An average of 101.3 trains/day loaded during the week, up 0.8% from the prior week. In the Powder River Basin, an average of 57.6 trains/day loaded, up 1.9% from the prior week a...>>>
French weekend power prices soar as cold snap looms Mar 19,2018
Weekend power prices in France rose more than 25% day on day Friday, taking their cue from bullish gas prices as looming below-average temperatures are expected to drive demand higher against the backdrop of some nuclear plant outages. In Friday morning trading, the French weekend price jumped to nearly a three-week high of Eur47.50/MWh, rising ...>>>