Chemical News
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NWE monoethylene glycol July contract fully settled at Eur1,010/mt FD, flat from June, Aug yet to setlle Aug 22,2018
London — The Northwest European monoethylene glycol contract for July has been fully settled at Eur1,010/mt ($1,155/mt) FD NWE, unchanged from June, two producers and a consumer confirmed Tuesday. Other market sources could not be reached for comment. The MEG contract is deemned fully settled if two separate sets of a producer and a consumer rea...>>>
EU CO2 prices to average Eur35-40/mt to 2023: Carbon Tracker Aug 22,2018
London — EU carbon dioxide allowance prices are likely to average Eur35/mt to Eur40/mt (about $40-$46/mt) over the period 2019-23, accelerating coal-to-gas fuel switching in the power generating sector, UK-based non-governmental risk analysis group Carbon Tracker said in a report Tuesday. As the supply of allowances tightens due to regulatory re...>>>
Forties crude oil premium to Russian Urals at narrowest in eight months Aug 22,2018
London — North Sea light sweet crude oil grade Forties' premium to Urals has fallen to its lowest since December last year as pricing levels for the medium sour Russian grade have surged by more than 30 cents/b this week on aggressive bidding interest from European buyers looking to replace Iranian barrels. S&P Global Platts assessed Forties at ...>>>
New 1.5 GW Dutch-German power link to go-live August 25 Aug 22,2018
London — The new German-Dutch power interconnector will go-live August 25 boosting transmission capacity by up to 750 MW with the second circuit planned to come online in November, grid operators TenneT and Amprion said. The two circuits of the new 380 kV alternating current overhead line between Doetinchem in the Netherlands and Wesel in German...>>>
Northwest European propane at smallest discount to naphtha in seven months Aug 22,2018
London — Large propane cargoes have narrowed to their smallest discount against CIF NWE naphtha cargoes since late January, driven by strengthening propane prices and a relatively flat naphtha market. On Monday, large CIF propane cargoes in Northwest Europe were assessed at $556/mt, while CIF NWE naphtha cargoes were assessed at $622.50/mt, plac...>>>
100 Spot Commodities Price Chart - 21/08/2018 Aug 22,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,40 commodities increased in prices, 15 fell and 45 remained unchanged on 21/08/2018.The largest rises were Coke (2.96%),Sulfur (2.77%),PET (1.92%),while the largest falls were Tin ingo...>>>
China's Hesteel raises domestic rebar prices for Aug 21-31 Aug 23,2018
Singapore — North China-based major construction steel producer Hesteel Group said Wednesday it would raise its domestic list prices by Yuan 200/mt to Yuan 4,500/mt ($627/mt) for 18-22 mm diameter HRB400 rebar for the August 21-31 period. This was the third time the mill has raised its prices since August 1, by a total of Yuan 350/mt. In additi...>>>
Russia's agriculture ministry raises grain harvest forecast to 105 million mt Aug 23,2018
London — Russian Minister of Agriculture Dmitry Patrushev has raised the forecast for the country's grain harvest in 2018 to 105 million mt, the ministry said Wednesday. The latest forecast is up 5% from the previous one. Last year's grain harvest was 135 million mt. Patrushev also said there were no grounds for export restrictions which have b...>>>
Crude oil futures tick higher on US stock draw; ICE Brent up at $73.32/b, NYMEX WTI $66.39/b Aug 23,2018
London — Crude oil futures tracked upwards in the European morning session Wednesday following a stronger than expected draw in US crude stocks and with the market continuing to focus on the US sanctions against Iran coming back into force in November. At 0920 GMT, ICE October Brent crude futures were up 69 cents from Wednesday's settle to $73.3...>>>
Low European mixed xylene prices fail to tempt Asian, US buyers Aug 23,2018
London — European mixed xylenes prices have been at a more than $100/mt discount to Asia and at least $35/mt below the US for at least two weeks, resulting in an open arbitrage window to both regions. However, market sources in Europe say exports have yet to be attempted due to product specification differences, logistical hurdles, and uncertain...>>>
Growth in Asia powers Q2 metallurgical coal sales recovery at Russian miner Mechel Aug 23,2018
London — Russian miner Mechel said Wednesday coking coal sales to Asia grew in the second quarter on the back of newly signed long-term supply contracts. While overall coking coal sales recovered from a softer Q1, Mechel's overall coking coal sales in Q2 fell 8.1% year on year to 1.9 million mt. PCI sales to Northeast Asia rose slightly, while ...>>>
US EIA says ethanol output, stocks rise on week Aug 23,2018
Houston — US ethanol production averaged 1.073 million b/d in the week that ended August 17, up1,000 b/d week on week, Energy Information Administration data showed Wednesday. Output in the most recent reporting week rose 21,000 b/d or 2% compared with the year-ago week. Production was within market expectations, sources said. Stocks rose a tot...>>>
European stainless steel alloy surcharges down again in September Aug 23,2018
London — Monthly alloy surcharges on austenitic grades of stainless steel flat-rolled products in Europe are set to fall for a second successive month in September, first mill announcements indicated. Finland's Outokumpu, the continent's largest producer, set its alloy adjustment factor for type 304 (4301) flat products at Eur1,523/mt ($1,766/mt...>>>
US stocks of low sulfur heating oil highest since March Aug 23,2018
Houston — US stocks of low sulfur heating oil reached their highest level since March, while inventories of high sulfur heating oil rose to their largest volume since May, Energy Information Administration data showed Wednesday. Nationwide stocks for LSHO, distillate with between 15 ppm and 500 ppm sulfur content, increased 15.11%, or 698,000 ba...>>>
US coal carloads rise 2.9% on week, nearly reach year-high: AAR Aug 23,2018
Houston — US coal carload originations totaled 93,248, up 2.9% from the prior week, American Association of Railroads data showed Wednesday. Carloads for the most recently concluded week come in second only to the year-high 93,324 carloads in the week that ended August 4. Despite the increase, carloads fell 4.6% from the year-ago week and dropp...>>>
US propylene inventory up for seventh straight week Aug 23,2018
Houston — US stocks of propylene for non-fuel use increased in the week ended August 15, representing a seventh consecutive week of growth, Energy Information Administration data showed Wednesday. Non-fuel use propylene stocks increased by 151,000 barrels last week to 3.108 million barrels, EIA data showed. Stock levels were also up by 284,000 b...>>>
China imposes 25% tariffs on US oil products Aug 24,2018
Singapore — China on Thursday implemented tariffs on a second tranche of US goods, targeting oil products and coal for the first time, in retaliation to US tariffs effective the same day and paving the way for crude oil and LNG to be hit next. Energy commodities including propane, butane, naphtha, jet fuel and coal are on the second list of $16 ...>>>
European polystyrene prices rise amid bullish Sep outlook Aug 24,2018
London — European general purpose polystyrene contract and spot prices rose over the past week amid a bullish outlook for September, according to market sources. The GPPS net contract and spot prices were assessed at Eur1,450/mt ($1,677/mt) and Eur1,365/mt ($1,579/mt) FD NWE Wednesday, both rising Eur5/mt on the week. The market anticipated pri...>>>
Crude oil futures drift lower, giving back gains; ICE Brent down to $74.36/b, NYMEX WTI $67.70/b Aug 24,2018
London — Crude oil futures drifted downwards in European morning trading Thursday, giving back some of the previous day's gains after a larger-than-expected crude stockdraw in the US had pushed both key benchmarks up by more than $2/b. At 1000 GMT, ICE October Brent crude futures were down 42 cents from Wednesday's settle to $74.36/b, while the ...>>>
EU CO2 price hits 10-year high at Eur20.50/mt Aug 24,2018
London — EU carbon dioxide allowances under the EU Emissions Trading System powered up to Eur20.50/mt ($23.73/mt) Thursday for the first time since 2008, on power sector demand and bullish sentiment ahead of looming multi-year supply cuts. EU Allowance futures contracts for delivery in December 2018 on the ICE Futures Europe exchange rallied as ...>>>