Chemical News
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China's Jul aluminum output rises 12% on year to 2.93 mil mt Aug 15,2018
Singapore — China's primary aluminum production rose 11.6% year on year to 2.93 million mt in July, latest figures from the National Bureau of Statistics showed Tuesday. In the first seven months, China's aluminum output totaled 19.4 million mt, up 3% from a year ago. In July, China's total production of the 10 major nonferrous metals amounted ...>>>
Oil futures settle lower on US dollar strength Aug 15,2018
New York — Oil futures fell Tuesday, coming off the morning highs on US dollar strength and a US crude stock build. October ICE Brent settled down 15 cents at $72.46/b, off its intra-day high of $73.93/b. September NYMEX crude settled 16 cents lower at $67.04/b, down from $68.37/b earlier in the day. Crude futures fell further following the set...>>>
Canada considering safeguards on seven steel products: finance minister Aug 15,2018
Pittsburgh — Canada is opening a 15-day consultation period to look into the harm or threat of harm from steel imports to domestic producers, Finance Minister Bill Morneau said Tuesday. Speaking to reporters at ArcelorMittal's Dofasco plant in Ontario, Morneau said the "unfair tariffs" levied by the US is causing other countries to seek alternat...>>>
Turkish steel company CEO says confident on exports despite US tariffs Aug 15,2018
London — While the recent hike in US import tariffs imposed on Turkish steel surprised the market, steel producers in the country will find other ways to export their products, the CEO of a major steel company in Turkey said Tuesday. The steel executive, who has asked not to be identified, said that he was confident that Turkey will find other o...>>>
South African coal priced out of key markets, stocks over 5 mil mt Aug 15,2018
London — High prices for benchmark 6,000 kcal/kg NAR grade thermal coal out of Richards Bay has meant off-spec coals in South Africa remain priced out of many key markets like India; despite widening discounts, sources said Tuesday. "Discounts are widening a lot because no one wants to buy (South African coal)," said a European trader. A trad...>>>
Turkey's crude oil imports in focus amid lira crisis Aug 15,2018
London — Turkey's sole refiner Tupras will continue to maintain its crude purchases amid the fallout from the country's currency crisis, a source close to the company said Tuesday. But some sources said that there could be a narrower pool of companies willing to sell crude to Tupras because of an increased operational risk caused by the country'...>>>
European second-generation biodiesel bearish into Q4 on mounting stocks Aug 15,2018
London — Stocks of both UCOME and TME biodiesel in Europe have risen in recent weeks, sparking bearish sentiment about the remainder of the year. Stocks of used cooking oil and tallow-based biodiesel have risen despite the backwardated market and weaker euro dominating the market and limiting imports into Europe. The euro fell against the dolla...>>>
Libyan crude oil output jumps to two-month high above 1 million b/d Aug 15,2018
Dubai — Libya's crude oil recovery has seen output rise above 1 million b/d for the first time since early June, sources close to production said Tuesday. The latest increase came mainly from the Sharara oil field where production has moved above 250,000 b/d, up from 218,000 b/d last week, the sources said. The 340,000 b/d field was shut down a...>>>
Japan's port aluminum stocks rise to two-year high of 310,400 mt: Marubeni Aug 15,2018
Tokyo — Japan's stocks of aluminum products stored in three main port warehouses rose to a two-year high of 310,400 mt at the end of July, Japanese trading house Marubeni said Tuesday. The stocks were up 1.1% from 306,900 mt in June, and the highest since 305,900 mt of July 2016. Japanese market sources said stocks have been on the rise after t...>>>
Crude oil futures up, market anticipates weekly US stock draw; ICE Brent up at $73.28/b; NYMEX WTI $67.79/b Aug 15,2018
London — Crude oil futures were supported during the early morning trading session in Europe Tuesday in expectation of a draw in US crude inventories being reported in the next American Petroleum Institute data release, due later in the day. At 1045 GMT, October ICE Brent crude, the front-month contract, was 67 cents/b higher than Monday's close...>>>
100 Spot Commodities Price Chart - 14/08/2018 Aug 15,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,37 commodities increased in prices, 20 fell and 43 remained unchanged on 14/08/2018.The largest rises were Sulfur (5.02%),Coke (2.92%),PREORIENTEDYARN (2.35%),while the largest falls w...>>>
Chinese independent refiners' crude imports to rise in Aug on lower maintenance Aug 16,2018
Singapore —Crude oil imports by Chinese independent refiners are expected to rebound marginally in August, on lower maintenance shutdown and an improvement in refining margins. NowAround 7.4 million mt of crude is estimated to discharge in August at ports in Tianjin and Shandong provinces -- home to the country's independent refineries -- compar...>>>
Asia isomer-MX versus toluene price spread near two-year high amid firm MX, paraxylene Aug 16,2018
Singapore — The FOB Korea price spread between isomer-grade mixed xylenes and feedstock toluene is near a two-year high amid stronger isomer-MX and paraxylene prices in Asia, S&P Global Platts data showed. Toluene was last assessed at $788/mt FOB Korea and isomer-MX at $895/mt FOB Korea on Tuesday, resulting in a spread of $107/mt. The spread wa...>>>
High-ash thermal coal cargoes on the move to Europe as Qinhuangdao prices bounce back Aug 16,2018
Perth/Singapore — Domestic thermal coal prices at China's northern ports have rebounded strongly to around Yuan 630/mt FOB Qinhuangdao basis 5,500 kcal/kg NAR from a low of around Yuan 600/mt early this week, market sources said Wednesday. "Domestic 5,500 NAR [prices] have rebounded, stocks [at Qinhuangdao port] are around 6.35 million mt today....>>>
EIA data shows US propylene stocks up for sixth consecutive week Aug 16,2018
Houston — US stocks of propylene for non-fuel use increased in the week ended August 10, the sixth consecutive week of growth, Energy Information Administration data showed Wednesday. Non-fuel use propylene increased by 110,000 barrels to 2.957 million barrels in the week, the EIA data showed. Stock levels were also up by 170,000 barrels from th...>>>
Brazilian ferrous scrap prices inch down after eight-month rise Aug 16,2018
Sao Paulo — After a persistent upward trend since the beginning of the year, mainly linked to tight supply, prices for Brazilian domestic ferrous scrap started to reverse course Wednesday, sources said. The market has seen demand surpassed supply, one dealer said. "I wouldn't say there was a real shortage of scrap or low generation, but we were...>>>
New Turkish import tax on US thermal coal bullish for Russian prices: sources Aug 16,2018
London — New import taxes announced Wednesday by the Turkish government on a range of imported products from the US, including thermal coal, could be bullish for Russian sellers leaving US coal potentially priced out of the market, sources said. The new tax on US thermal coal would be 13.7%, up from the 5% announced in June, with petcoke remaini...>>>
Crude oil futures tumble on 6.81 million-barrel US stock build; ICE Brent down to $70.55/b; NYMEX WTI $64.85/b Aug 16,2018
New York — Crude oil futures tumbled early Wednesday after the US Energy Information Administration reported a larger-than-expected 6.81 million barrel build in US crude inventories. At 1452 GMT, October ICE Brent was down $1.91 at $70.55/b, while September NYMEX crude was down $2.19 at $64.85/b. Analysts polled by S&P Global Platts were lookin...>>>
European physical zinc premiums unchanged as spreads move into contango Aug 16,2018
London — Zinc premiums in Europe remained flat in August due to the summer lull, though with some spot activity reported this week, as spreads turned from a deep backwardation to a contango, sources said. In June and July, backwardation on the LME cash to three-months spread had put pressure on physical premiums, however on Monday it disappeared...>>>
Philippine domestic sugar prices fall for first time in over 14 months due to imports Aug 16,2018
Singapore — The composite raw sugar ex-mill price in the Philippines dropped for the first time in over 14 months in half-monthly cycles, by 3 Pesos/lkg ($1.12/mt) in second-half July to Pesos 1,950.88/lkg, latest data released by the country's Sugar Regulatory Administration showed. The price declined in H2 July after imports started to flow in...>>>