Chemical News
-
OPEC 'converging to a good, positive decision' on output cuts: Falih Jun 21,2018
OPEC is "converging towards a good, positive decision" on raising output levels, Saudi energy minister Khalid al-Falih said Tuesday, after meeting with several counterparts in Vienna -- though notably not with Iran's Bijan Zanganeh, who is opposed to rolling back quotas. "Every minister that I have met with agrees that it's time for us to change...>>>
European TTF, NCG natural gas contracts mixed, market awaits OPEC signs Jun 21,2018
The TTF and NCG natural gas contracts danced in opposite directions Wednesday, with the spot and the curve contracts mixed. Norwegian flows ramped up slightly into continental Europe, amid less unplanned works, while colder forecast temperatures and higher crude futures weighed on the contracts, traders said. Dutch H-cal exports increase to Belg...>>>
Turkish 10% tariff on US coal likely to negate sulfur cap increase: utilities Jun 21,2018
A 10% tariff on US coal would likely negate the possible benefits of a Turkish sulfur cap increase expected implemented after Turkey's snap elections next week, utility buyers from the country said Wednesday. The tariff is Turkey's countermeasure against the US decision to impose tariffs on steel and aluminum imports from Turkey, among other co...>>>
Libya looks to divert eastern crude export flows to other marine terminals Jun 21,2018
Libya's National Oil Corp. hopes to divert some of its stranded crude supplies to other oil export terminals after attacks forced the closure of two key eastern ports. Libya's crude output has halved from around 950,000 b/d in May after armed clashes between rival militia groups at key export terminals last Thursday. "Production is low, unfor...>>>
Russian export duties on BTX to rise 5.6% on month in July: ministry Jun 21,2018
Russian export duties on benzene, toluene and xylenes will rise for a third consecutive month in July, according to the Ministry of Economy. The duties will rise 5.6% month on month to $41.70/mt in July for a 72% year-on-year increase amid stronger crude prices and duties, the ministry said Wednesday. The BTX duties will remain at 30% of the ...>>>
General purpose polystyrene import offers uncompetitive in June European market Jun 21,2018
Import offers heard in the European general purpose polystyrene market in June have been uncompetitive, providing some leverage for European producers, according to market sources. This week, GPPS spot prices were heard around Eur1,375/mt ($1,590/mt) on an FD Europe basis, while import offers were heard at $1,650/mt CFR Europe. Inland freight co...>>>
US Commerce to look at illegitimate profiteering from metals tariffs Jun 21,2018
The US Commerce Department is launching an investigation to determine if some market participants are "illegitimately profiteering" from the US Section 232 tariffs on steel and aluminum, Commerce Secretary Wilbur Ross said Wednesday. "There has been a lot of speculative activity, storing inventory, [and] withholding product from the market by vario...>>>
US grain rail shipments up on year: rail association Jun 21,2018
US rail transportation of grain products for the week ended June 16 totaled 23,086 cars, up 6.5% compared with the year-ago week, Association of American Railroads data showed Wednesday. Rail transportation of chemical products rose 1.5% year on year to 31,707 cars, the data showed. AAR designates fuel-grade ethanol as a chemical product. C...>>>
100 Spot Commodities Price Chart - 20/06/2018 Jun 21,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,11 commodities increased in prices, 49 fell and 40 remained unchanged on 20/06/2018.The largest rises were Acrylic acid (0.58%),Coke (0.56%),Glass (0.48%),while the largest falls were ...>>>
China's first US-designed reactor, Sanmen-1, records first criticality Jun 22,2018
Sanmen-1, in China's Zhejiang province, the world's first nuclear generating unit of the Westinghouse AP1000 design, successfully reached first criticality Thursday, project operator State Nuclear Power Technology Corporation said. The successful criticality is a milestone in the construction of the 1,200-MW Sanmen-1, which is now a step closer ...>>>
OPEC/non-OPEC committee recommends 1 mil b/d output rise from current level Jun 22,2018
A six-country monitoring committee overseeing the OPEC/non-OPEC production cut deal will recommend a 1 million b/d output rise from current levels, Saudi energy minister Khalid al-Falih said Thursday. But Falih did not delineate how those barrels would be allocated across the 24 countries participating in the deal, nor an exact ramp-up schedule....>>>
Cheniere pipeline to carry Oklahoma natgas output gets positive environmental review Jun 22,2018
Cheniere Energy's Midcontinent Supply Header Interstate Pipeline, which would boost takeaway capacity from Oklahoma's Anadarko Basin to support growing Gulf Coast demand for LNG exports, got a positive environmental review Thursday from the US Federal Energy Regulatory Commission. The project would result in some environmental impacts, but these...>>>
Spanish year-ahead power hits near 2-month low as oil falls Jun 22,2018
Spanish power prices for year-ahead delivery were trading at a near two-month low Thursday morning amid a weaker Brent crude oil futures market, which would weaken generating fuels. * Cal 19 trading at lowest since May 8 * Gas prices seen 'confirming' losses Thursday * Coal also weak amid thin trading Thursday morning the year-ahead con...>>>
France's Engie sells its coal-fired generation in Asia Pacific Jun 22,2018
French utility Engie said Wednesday it was to sell its 69.1% interest in Thailand-based power producer Glow Energy, as the company continues to reduce its global coal-fired capacity. "With the disposal of its interests in Glow, Engie will no longer operate any coal-fired assets in Asia-Pacific, and will reduce its global coal-fired generation in...>>>
Americas clean shipowners sit vessels on negative TCEs Jun 22,2018
The downward spiral on Americas clean tanker markets since early May has some clean tanker owners attempting to rebalance the market by sitting vessels, as time charter equivalent values turned negative and voyages are getting to be money-losers. A marked lack of arbitrage opportunities for ultra low sulfur diesel to Europe -- as strong demand f...>>>
US MX at two-month low, below previous price floors Jun 22,2018
US prompt mixed xylene spot prices dropped below 260 cents/gal this week for the first time in two months, as weak demand combined with well-stocked supply and declining feedstock energy futures helped push prices down. The decline this week follows a 20-cent drop for prompt MX prices last week, which took prices to 260 cents/gal FOB USG last Fr...>>>
Potential 25% China tariff on US coking coal sparks short-term concern Jun 22,2018
A potential 25% tariff on US coking coals to China may have little long-term impact on most Chinese buyers, though concern about defaults on recent trades is mounting, market sources said. Earlier in June, the Chinese Ministry of Commerce said US exports to China may face additional 25% tariffs. The additional tariff may include US coking coal e...>>>
US Renewable Fuel Standard announcement delayed amid reallocation criticism: sources Jun 22,2018
A US Environmental Protection Agency announcement planned for Friday about proposed annual biofuel blending mandates under the Renewable Fuel Standard appears indefinitely delayed due to growing opposition to the EPA's reported intent to reallocate blending obligations waived for some small refiners, sources said Thursday. "They either underesti...>>>
Malaysia's Petronas revises restart of No 2 methanol plant to Monday: company source Jun 22,2018
Malaysia's Petronas Chemicals has revised the restart date of its 1.7 million mt/year No 2 methanol plant at Labuan to Monday after an attempted startup early Thursday failed due to a "power-related issue," a company source said. The plant had been slated to restart around midday Thursday after it was shut unexpectedly Tuesday due to a technical...>>>
100 Spot Commodities Price Chart - 21/06/2018 Jun 22,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,16 commodities increased in prices, 38 fell and 46 remained unchanged on 21/06/2018.The largest rises were Nickel (2.15%),Bromine (1.64%),Soda ash (0.82%),while the largest falls were ...>>>