Chemical News
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Moody's downgrades Murray Energy, outlook remains stable Apr 25,2018
Moody's Investors Service downgraded its ratings for privately held Murray Energy, citing higher risks to the US coal miner's credit and liquidity due to the recent Chapter 11 bankruptcy filing by a major customer, but maintained a stable outlook for Murray. FirstEnergy Solutions, a merchant generator and owner of the coal-fired Bruce Mansfield ...>>>
Flows of LPG from US Gulf Coast to NWE in May expected to rise from April Apr 25,2018
Flows of LPG from the US Gulf Coast to Northwest Europe are expected to rise in May, with three VLGCs and one Handysize vessel expected to arrive in the first week of the month alone, according to data from S&P Global Platts trade flow software cFlow. The 49,999 dwt Yushan is expected to arrive on May 1 into Flushing, in the Netherlands from Hou...>>>
EU, France should not be subject to US metals tariffs: Macron Apr 25,2018
Overcapacity in the global steel and aluminum markets is not the result of excess production in France or the EU, and those countries should be permanently exempt from the US' metals tariffs, French President Emmanuel Macron said Tuesday. "Overcapacity does not come from Europe or France," Macron said speaking at a joint press conference with US...>>>
China Iron and Steel Association members' Apr 1-10 crude steel output rises 5% Apr 25,2018
Crude steel output at mills operated by China Iron & Steel Association member companies over April 1-10 averaged 1.876 million mt/day, up 5.04% from the 10 days prior, according to CISA Monday. This is versus a drop of 0.07% over March 21-31 compared to 10 days earlier. The daily average over the first 10 days of April was also 1.56% higher t...>>>
About 5% of intended US corn acreage planted, below market estimates: sources Apr 25,2018
A total of 5% of the intended US corn acreage had been planted through Sunday, the Department of Agriculture said in its weekly crop progress report after Monday's market close. This level was 11 percentage points below the five-year average for this week and 10 percentage points below planting at the same time last year. The data showed the ...>>>
Brazil's Center-South region H1 April cane for sugar mix seen at 28.5%, the lowest in 10 years: Platts survey Apr 25,2018
The proportion of sugarcane that was directed to making sugar in Brazil's key Center-South region in the first half of April is expected to come in at 28.5%, an S&P Global Platts survey of analysts found Tuesday. This would be down 10.3 percentage points on the year and the lowest percentage used for sugar in the H1 April period since the 2008-0...>>>
100 Spot Commodities Price Chart - 25/04/2018 Apr 25,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,19 commodities increased in prices, 20 fell and 61 remained unchanged on 25/04/2018.The largest rises were Chloroform (3.42%),Acetone (2.53%),Maleic anhydride (1.32%),while the largest...>>>
Chinese March DDGS imports rise 252.5% on month, fall 85.6% on year: customs data Apr 26,2018
Chinese imports of dried distillers grains rose 252.5% month on month to 12,894 mt in March from 3,657 mt in February, Chinese Customs Information Center data showed Wednesday. March's imports had a total value of $2.775 million, according to the customs agency data, up 231.7% from $836,584 in February. Imports fell 85.6% by volume and 82.1% ...>>>
Molybdenum oxide prices nudge higher, Europe leads the way Apr 26,2018
Molybdenum oxide prices nudged higher again Wednesday, predominantly on European business, although activity was relatively slow. "It has been pretty quiet on our end," said one seller, who concluded an oxide powder business at $12.35/lb in Busan. "People want to buy at $12.20 and sell at $12.50, which doesn't fly," said one European trader, ...>>>
European styrene May contract price expectations revised following recent spot strength Apr 26,2018
Expectations for the European May styrene contract price have been revised again following strength in the spot market, according to market sources. At the beginning of April, market sources anticipated a large fall in the May styrene contract price. Sources said that the April styrene contract price was settled higher than expected and there...>>>
US spot ethylene hits record low of 13.50 cents/lb on supply length Apr 26,2018
US spot ethylene hit a record low Wednesday, assessed at 13.25-13.75 cents/lb FD USG, amid a glut in supply. Prompt-month ethylene was heard traded at 13.5 cents/lb Mont Belvieu-Nova basis by the close of the assessment. The market opened the day traded at 14.25 cents/lb MtB-Nova. The assessment is the lowest since S&P Global Platts began ass...>>>
US Western bituminous coal production down 10.9% in the first quarter: MSHA Apr 26,2018
US Western bituminous coal production in the first quarter totaled 15 million st, down 10.9% from Q4 2017 and 7.4% from the year-ago quarter, Mine Safety and Health Administration data shows. The downward production trend from the Western bituminous coal producing states, which include Arizona, Colorado, New Mexico, Utah, Montana and Wyoming, is...>>>
European hydro glut keeps spring power prices low, squeezing generation margins Apr 26,2018
A sharp rebound for hydro levels on the Continent this spring is keeping European power prices low despite strong gains for generating fuels gas and coal and a rally for EUA carbon allowances, S&P Global Platts analysis shows. Spanish hydro stocks have fully recovered from last year's drought and are now above the 10-year average at 15 TWh with ...>>>
US heating season looks to continue its record-long stretch Apr 26,2018
The natural gas withdrawal season is poised to stretch two weeks longer than ever reported as stocks must currently replace 2.549 Tcf of gas to reach the five-year average by the start of the next heating season. The US Energy Information Administration on Thursday is expected to report a 12 Bcf withdrawal for the week that ended April 20, accor...>>>
US crude oil exports jump 582,000 b/d to 2.331 million b/d, record high: EIA Apr 26,2018
US crude oil exports increased by 582,000 b/d last week to 2.331 million b/d, an all-time high, Energy Information Administration Administration data showed Wednesday. The push to ship more crude abroad follows the ICE Brent/WTI spread widening from around $3/b in early March to more than $6/b this week. The previous record-high was set the week...>>>
US crude stocks build as imports rise, refinery demand drops Apr 26,2018
US crude stocks saw a surprise build last week, despite record-high exports, while gasoline and distillate inventories were mixed, Energy Information Administration data showed Wednesday. * Crude exports top 2.3 million b/d * Domestic output climbs further * USAC diesel stocks tightening Higher imports and less refinery activity drove c...>>>
Chinese March thermal coal imports at four-year high Apr 27,2018
Chinese March thermal coal imports were 12.52 million mt, up 32% month on month, 56% from the year-ago month, and the highest monthly total since March 2014, according to customs data released Wednesday. The multi-year high comes amid many rumors circulating in March import restrictions at Chinese ports would soon be announced, which were later ...>>>
China's March ethanol imports fall 10.7% on month to 176,468 cu m Apr 27,2018
China's total ethanol imports in March were 176,468 cu m, down 10.7% on the month, data released Wednesday by the General Administration of Customs showed. In January 2017, China implemented a 30% import tariff on denatured ethanol, which led to a sharp fall in ethanol imports. Prior to that, US was the largest supplier of denatured ethanol to ...>>>
UK car production falls for 8th consecutive month in March, down 13.3% on year: SMMT Apr 27,2018
UK car production was down in March, with 147,417 vehicles produced, down 13.3% from output of 170,056 cars in March 2017, the Society of Motor Manufacturers and Traders said Thursday. Output for the home market fell for the eighth consecutive month, down 17.7%, year on year, with exports also dropping 11.9%. "A double-digit decline in car ma...>>>
Concessions needed to get exemptions from US steel, aluminum tariffs: Kudlow Apr 27,2018
Countries will need to make concessions in order to secure an exemption to US tariffs on steel and aluminum, top White House economic adviser Larry Kudlow said Thursday. "Part of this is a negotiation," Kudlow said speaking on CNBC. "It's very important that some of our friends make concessions with respect to trading practices, tariffs and taxe...>>>