Chemical News
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May NYMEX natural gas futures up 1.6 cents to $2.754/MMBtu awaiting new impetus Apr 19,2018
After easing 1.4 cents to $2.738/MMBtu Tuesday, NYMEX May natural gas futures were little changed overnight ahead of Wednesday's open, with no significant revisions to the fundamental landscape. At 6:40 a.m. ET (1040 GMT) the contract was 1.6 cents higher at $2.754/MMBtu after moving in a $2.734-$2.755/MMBtu range. Rising temperatures should ...>>>
Crude oil futures rise further on US EIA stock data Apr 19,2018
Crude oil futures edged up further during mid-morning trade in Asia Thursday, holding on to support from a surprise draw reported in US crude inventories. At 10:35 am Singapore time (0235 GMT), ICE June Brent crude futures were up 23 cents/b (0.31%) from Wednesday's settle at $73.71/b, while the NYMEX May light sweet crude contract was up 24 cen...>>>
Asian naphtha physical cracks near three-month low on slow demand, stronger crude Apr 19,2018
The Asian naphtha physical crack spread hovered near three-month low levels on the back of strong underlying crude markers, amid weak buying interest after the market moved into a new trading cycle. Front-month ICE Brent crude futures have been steadily climbing, having reached the highest level in more than three years of $72.50/b at the Asian...>>>
100 Spot Commodities Price Chart - 18/04/2018 Apr 19,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,29 commodities increased in prices, 16 fell and 55 remained unchanged on 18/04/2018.The largest rises were PET (4.37%),Chloroform (3.47%),Aniline (2.54%),while the largest falls were P...>>>
China alumina rises further to Yuan 2,970/mt on global price rally Apr 20,2018
Chinese spot alumina prices made further gains on Thursday on the back of record high prices in the global market this week due to supply concerns. The Platts ex-works Shanxi daily spot alumina assessment rose Yuan 70/mt ($11) to Yuan 2,970/mt cash on Thursday, as the bid-ask spread increased to Yuan 2,950-3,000/mt from a previous Yuan 2,850-295...>>>
European styrene plummets, steep backwardation remains amid prompt tightness Apr 20,2018
European styrene prices have plummeted this week as confidence in supply availability for May returned to the market. However, the backwardation between April and May remained steep as availability for prompt dates remained tight, according to sources. The five-to-30-day forward styrene spot price was assessed at $1,398/mt FOB ARA Thursday, down...>>>
US flat-rolled steel prices remain stable Apr 20,2018
US flat-rolled steel prices continued to hold Thursday amid tight availability and light spot buying activity, according to sources. The daily Platts TSI US hot-rolled coil assessment was $876/st Thursday, unchanged from Wednesday, while the daily Platts TSI US cold-rolled coil assessment was $1,014.25/st, up 50 cents from Wednesday. Buyers c...>>>
US declines to discuss Section 232 tariffs with EU/India under WTO Safeguards Apr 20,2018
The US has told the EU and India that it will not discuss Section 232 tariffs under the Safeguards Agreement, as they are not protectionist measures. "The US informs the EU and India that their requests for consultations on the steel and aluminum tariffs under Article 12.3 of the Safeguards Agreement has no basis in the agreement since the tarif...>>>
Taiwan to investigate Chinese steel imports Apr 20,2018
Taiwan has launched an investigation into steel imports from China, the Ministry of Finance said. "This is done in a bid for the US to add Taiwan to the exclusion list of the Section 232's 25% tariff," a source from a Taiwanese mill said. Chinese products being investigated by Taiwan include certain galvanized and zinc alloy flat-rolled steel...>>>
Japan's opening of ETBE market to US ethanol feedstock not to have immediate impact Apr 20,2018
Japan's new policy announcement this week to allow US corn-based ethanol as a feedstock in the production of bio-ethyl tert-butyl ether (ETBE), starting April 2018, will have a limited immediate impact in the Asian ethanol market, sources said. Cargoes from Brazil for the next crop 2018-19 (April-March) were already booked and therefore any impa...>>>
US corn net export sales rise 34.4% on week to 1.2 million mt, at higher end of expected range Apr 20,2018
US net export sales of current crop and next crop corn totaled 1.204 million mt in the week ended April 12, up 3.4% from 895,914 mt in the previous week, US Department of Agriculture data showed Thursday. Of the total net exports sales, 1.092 million mt were for the current corn crop and 112,220 mt were for the next corn crop, the USDA said. ...>>>
Crude oil futures rise to fresh 40-month high on stock draw, bullish Saudi Arabia; ICE Brent at $74.13/b, NYMEX WT Apr 20,2018
Crude futures prices rose to fresh three-year highs on Thursday, as a sharp stock draw in the US and signals that OPEC could continue production cuts into next year continued to add bullish momentum to the market. At 1000 GMT, June ICE Brent crude futures were up 65 cents at $74.13/b, the highest level since November 2014, while the NYMEX May WT...>>>
US moves closer to oil, gas lease sales in Alaska's ANWR Apr 20,2018
The Trump administration has started the regulatory steps to hold at least two lease sales in Alaska's Arctic National Wildlife Refuge in the next decade, as required by the tax bill Congress approved in December. The first sale, offering a minimum of 400,000 acres, could happen as early as next year. A notice that will be published in Friday...>>>
Explosion hits Valero refinery in Texas City, Texas Apr 20,2018
An explosion erupted Thursday afternoon at Valero's 225,000 b/d refinery in Texas City, Texas, according a statement from the city. While details of the fire were still unknown, there was no shelter-in-place order and all refinery personnel had been accounted for, according to Texas City's official Twitter account. A company spokeswoman was...>>>
Sinopec hikes East China butadiene price for second time this week Friday Apr 23,2018
China Petroleum and Chemical Corp., or Sinopec, raised its ex-works butadiene offer price in East China for the second time this week to Yuan 10,100/mt, or $1,346/mt on an import-parity basis, Friday, up Yuan 200/mt or about 2%, market sources said. On Monday, the state-run company had increased the prices by Yuan 400/mt to Yuan 9,900/mt. The...>>>
Record Indian sugar output pressuring prices, sugarcane debts rising: ISMA Apr 23,2018
India's sugar production is expected to top 29.5 million mt in the 2017-18 season, the highest amount on record, which is pressuring domestic prices, the Indian Sugar Mills Association said. Retail prices have decreased 8% since November to an average of Rupee 38.88/kg (58.84 cents/kg) on Thursday, according to data from India's Ministry of Cons...>>>
California ethanol market climbs on tightness, plant maintenance Apr 23,2018
The market for California ethanol has spiked in recent days as scarce product and plant maintenance has driven up rail car prices. "Spot singles are in a pinch and trading at explosive values," said one source. California rail cars with sub-71 carbon intensity (CI) were heard traded at $1.77/gal Friday. Sub-70 CI rail cars, which would normal...>>>
Contango structures emerge for NWE toluene, mixed xylenes on prompt demand weakness Apr 23,2018
The Northwest European toluene and mixed xylenes market structures have shifted into a contango, driven by weak prompt demand. But there was firm buy interest for May on both products in the Platts Market on Close windows Thursday. The April CIF ARA prices of toluene and MX were assessed Thursday at $793/mt and $777.50/mt, while the correspon...>>>
US April PX CP slips as feedstock MX prices surge on supply, demand Apr 23,2018
The US April paraxylene contract price was heard settled Friday at 48 cents/lb, sources said Friday. The settlement marks a second consecutive decline for the contract, this time down a half cent from the March settlement. US prompt spot paraxylene prices have averaged $906.50/mt FOB USG so far in April as supply-side conditions were heard ...>>>
US April propylene contracts initially settling 1 cent/lb lower: sources Apr 23,2018
US April propylene contract prices were beginning to settle Friday at a 1 cents/lb decrease -- to 46 cents/lb for polymer-grade product and 44.5 cents/lb for chemical-grade product, sources said. One buyer, one producer and two other market sources confirmed settlement at that level. The settlement, if accepted marketwide, would be in line wi...>>>