Chemical News
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Ford agrees to $299.1 million U.S. Takata air bag settlement Jul 17,2018
WASHINGTON (Reuters) - Ford Motor Co agreed to a so-called economic loss settlement of $299.1 million covering at least 6 million U.S. vehicles with potentially faulty Takata air bag inflators, court documents filed in a federal court in Miami on Monday show. The settlement covers several forms of economic damages linked to the inflators, includ...>>>
Oil climbs from 3-mth low as more oil workers strike in Norway Jul 17,2018
TOKYO (Reuters) - Brent crude prices rose from a three-month low on Tuesday after more oil workers went on strike in Norway, supporting a market that has been dominated by oversupply issues in recent days. Brent crude futures had climbed 28 cents, or 0.4 percent, to $72.12 a barrel by 0331 GMT. They fell 4.6 percent on Monday, at one point touch...>>>
Brent oil falls 4 percent to three-month low as supply outage concerns ease Jul 17,2018
NEW YORK (Reuters) - Oil prices slumped more than 4 percent on Monday, with Brent reaching a three-month low, as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers. Brent crude LCOc1 futures fell $3.49 to settle at $71.84 a barrel, a 4.63 percent loss, while U.S. West Texas Intermediate (WTI) crude CL...>>>
India ministry urges duty on Chinese solar cells, modules Jul 17,2018
NEW DELHI (Reuters) - India’s trade ministry on Monday recommended imposing a 25 percent duty on imports of solar cells and modules from China for one year to try to counter what it sees as a threat to domestic solar equipment manufacturing. Falling prices of solar cells and modules, over 90 percent of which India imports from China, have trigge...>>>
China spot TC/RCs for copper concs hold stable at $83-90/mt over Jul 9-15 Jul 17,2018
Hong Kong — Spot treatment and refining charges for imported copper concentrates for Chinese smelters were at $83-$90/mt and 8.3-9.0 cents/lb in the week of July 9-15, flat from the preceding week, Chinese industry sources said this week. Spot fees rose from $74-$81/mt and 7.4-8.1 cents/lb in the third week of May to $83-$90/mt and 8.3-9.0 cents...>>>
Rio Tinto's thermal coal production slips as it prepares to exit business Jul 17,2018
Singapore — Mining giant Rio Tinto's production from its remaining thermal coal assets slid in the April-June quarter, while it remains on track to hit its 2018 production guidance, the company said Tuesday in its quarterly results. Rio's share of thermal coal production from its assets stood at 1.01 million mt in the June quarter, which is down 1%...>>>
100 Spot Commodities Price Chart - 16/07/2018 Jul 17,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,20 commodities increased in prices, 25 fell and 55 remained unchanged on 16/07/2018.The largest rises were Bromine (1.52%),BR (0.78%),Color coated sheet (0.62%),while the largest falls...>>>
Extra tariffs on sugar from August Jul 18,2018
China will levy extra tariffs on out-of-quota sugar imports from all origins starting from August 1, the Ministry of Commerce (MOFCOM) said on Monday, just over a year after introducing hefty penalties on top growers including Brazil and Thailand. That list of exempt countries has now been canceled, MOFCOM said. "Protective measures will be unif...>>>
US rare earth tariffs will spur China to fast track high technology: analysts Jul 18,2018
The latest US plan that includes rare-earth metals on its $200 billion tariff list will raise costs for American buyers and may even force China to fast track development of its own high-tech applications such as motors for such metals in a few years, analysts said. After starting a trade row with China by slapping a 25 percent tariff on $34 bil...>>>
Rio Tinto posts jump in iron ore output, flags stronger 2018 Jul 18,2018
Global miner Rio Tinto said on Tuesday that its second-quarter iron ore shipments from Australia rose 14 percent and indicated its annual production would be at the upper end of its guidance. The miner said it expected iron ore shipments for the year to be at the upper end of its range of 330 million to 340 million tons, driven by productivity ...>>>
China's new energy power generation sees faster growth Jul 18,2018
BEIJING - China reported faster growth in new energy power generation in June, official data showed Tuesday. "The growth of electricity generated by new energy accelerated markedly, while thermal and hydro power saw slower growth," said Yan Pengcheng, spokesperson for the National Development and Reform Commission (NDRC), at a press conference. ...>>>
Arkansas farmers wary of tariffs' impact Jul 18,2018
When Arkansas rice farmer Tim Ralston decided to try exporting his products to China, he knew that he might face some challenges down the road. "It's a good time for us. We hope the trade war doesn't create problems," said Tim Ralston, co-owner of the Ralston Family Farms, a sprawling 5,000-acre property in Atkins, Arkansas owned and operated by...>>>
Soybeans hurt little by US tariff moves Jul 18,2018
China has alternative sources for imports; substitutions possible Trade frictions between China and the United States will not cause a sharp rise in the price of soybeans-a major agricultural import for China-or their products in the domestic market, according to experts. China announced in June that it would levy an additional 25 percent tar...>>>
U.S. crude oil inventories increase slightly last week: API Jul 18,2018
HOUSTON, July 17 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported an increase of about 0.63 million barrels in the U.S. crude oil inventories for the week ending July 13. In the previous week, API reported draws of nearly 6.8 million barrels in the U.S. crude oil inventories for the week ending July 6. Oil prices went up...>>>
Chinese drug maker recalls valsartan products in U.S. over impurity Jul 18,2018
HANGZHOU, July 17 (Xinhua) -- A Chinese pharmaceutical company has announced a recall of blood pressure medicines containing valsartan from the U.S. market after an impurity was found. Zhejiang Huahai Pharmaceutical Co. Ltd said in a statement issued Monday that it has also halted the supply of valsartan to the U.S. market and may face losses due ...>>>
PetroChina attempts to salvage joint refinery project with Venezuela's PDVSA Jul 18,2018
Singapore — China's state-run oil giant PetroChina has been forced to reconfigure a long-delayed refinery project that was designed to process Venezuelan crude, as the deteriorating situation of the South American country's oil sector has put future supplies at risk. The move underscores China's attempt to salvage the large 20 million mt/year (4...>>>
Thai cash sugar premiums rise on Chinese import-duty change Jul 18,2018
Singapore — Thai sugar cash premiums for next season rose Tuesday after the announcement by China that it will be imposing a uniform 90% out-of-quota import duty from August. "The import duty change from China will be bullish for Thai cash values for next season," a trader said. S&P Global Platts assessed Thai HiPol cash premiums for both March...>>>
China's 2018 summer grain output slightly down Jul 19,2018
BEIJING, July 18 (Xinhua) -- China's summer grain output stood at 138.72 million tonnes this year, down 2.2 percent from last year, the National Bureau of Statistics (NBS) said Wednesday. "The country's summer crops have yielded a relatively good harvest in 2018," NBS statistician Huang Jiacai said. The total area for growing summer crops decline...>>>
Chinese official comments on US challenge to China's countermeasures Jul 19,2018
BEIJING, July 18 (Xinhua) -- A Chinese commerce official made remarks Wednesday in response to the United States' WTO challenge to China's countermeasures on the U.S. Section 232 investigation over steel and aluminum imports. The Chinese measures are legitimate and in line with multilateral trade rules, an official of the Ministry of Commerce said...>>>
U.S. initiates national security investigation into uranium imports Jul 19,2018
WASHINGTON, July 18 (Xinhua) -- The U.S. Commerce Department on Wednesday initiated a so-called Section 232 investigation into the national security implications of uranium imports. "Our production of uranium necessary for military and electric power has dropped from 49 percent of our consumption to five percent," U.S. Commerce Secretary Wilbur ...>>>