Chemical News
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CIS steel billet prices look down but bottom not seen yet: traders Oct 18,2018
CIS mills are under pressure to accept lower price levels to close more deals for November rolling amid slack demand in key markets, including Turkey, Egypt and Asia, trading sources said Wednesday. S&P Global Platts on Wednesday assessed daily billet stable at $450/mt FOB Black Sea. For example, buyers in Egypt are looking for new billet mater...>>>
NYMEX Nov natural gas futures rise to $3.268 MMBtu on weather-related issues Oct 18,2018
NYMEX November natural gas futures contract rose in morning trade Wednesday, largely driven by erratic weather. As of 11:25 am EDT (1525 GMT), the front-month contract was up 2.90 cents and was trading at $3.268 MMBtu, after moving between $3.240/MMBtu and $3.298/MMBtu so far in the session. "Natural gas prices are getting a bounce because of t...>>>
Steel sheet price increases in US receiving lukewarm reception Oct 18,2018
Last week's $40/st price increase for flat-rolled sheet steel products from US mills received a lukewarm reception from most players, with buying remaining limited, sources said Wednesday. The price hikes by most domestic mills have not pushed many hot-rolled coil offers outside of tradable ranges of $820-$840/st available prior to the moves. St...>>>
100 Spot Commodities Price Chart - 17/10/2018 Oct 18,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,23 commodities increased in prices, 32 fell and 45 remained unchanged on 17/10/2018.The largest rises were Sulfuric acid (1.91%),PA (0.94%),Steam coal (0.75%),while the largest falls w...>>>
Chinese alumina may rebound on Shanxi refinery cutback: sources Oct 19,2018
Chinese domestic spot alumina prices may rebound in the near term on the back of news Thursday that major producer Shandong Chiping Xinfa Group cut the operating rate by 50% at its Shanxi Jiaokou alumina refinery on October 17, multiple market participants said. The Jiaokou refinery is now running at a 1.4 million mt/year capacity, down from 2.8...>>>
EU panel backs 35% CO2 cut for new trucks by 2030 Oct 19,2018
European lawmakers have backed a target for a 35% cut in carbon dioxide emissions from new trucks by 2030 in a move dubbed as "highly alarming" by the region's automakers. The decision by the European Parliament's environment committee on Thursday is part of EU's first-ever CO2 standards for trucks aimed at shifting transport energy away from oi...>>>
US oil and gas rig count falls 10 to 1,161 this week: S&P Global Platts Oct 19,2018
Combined US oil and gas rig counts fell by 10 to a five-week low of 1,161 amid further declines in the Permian Basin, S&P Global Platts data showed Thursday. A second week of declines took total US rig counts 15 under the more than three-year high recorded in early October, but favorable drilling economics continued to support counts well above ye...>>>
NLMK, ATI ink hot-rolled steel coil conversion deal through 2019 Oct 19,2018
NLMK USA has signed a toll-processing agreement with Allegheny Technologies Inc. to convert carbon steel slabs into hot-rolled coil, the companies said Thursday. Slab shipments to ATI's hot-rolling and processing facility (HRPF) in Brackenridge, Pennsylvania, are set to begin immediately and increase to anticipated production levels in the first...>>>
US net export corn sales down 62% on week to 382,534 mt, far below market expectations Oct 19,2018
US net export sales of corn for the current marketing year totaled 382,534 mt in the week ended October 11, down 62% from the previous week, US Department of Agriculture data showed Thursday. Market expectations were for total weekly export sales between 800,000 mt and 1.3 million mt. "I think the poor export numbers were due to importers sitti...>>>
US soybean net exports decrease 33.23% on week: USDA Oct 19,2018
US soybean net export sales for the 2018-19 marketing year were 293,566 mt for the week ending October 11, down 33.23% from the previous week, Department of Agriculture data showed Thursday. The reported number was less than half of what was expected by analysts, who had an average estimated range of 600,000-1 million mt. The low net sales were...>>>
Expansion of US offshore drilling focused on eastern Gulf of Mexico Oct 19,2018
A push by the Trump administration to expand oil and natural gas drilling into federal waters is increasingly focused on future production in the eastern Gulf of Mexico, particularly in untapped portions of the Norphlet Field in waters off limits to development until at least 2022. "The eastern Gulf is really 99% of what all the operators care a...>>>
USITC rules against antidumping duties for PET imports from five countries Oct 19,2018
The US International Trade Commission has ruled against the US polyethylene terephthalate industry in relation to its request to impose antidumping duties on PET from Brazil, Indonesia, South Korea, Pakistan and Taiwan, the organization said Thursday. The US PET industry was not "materially injured or threatened with material injury" by imports ...>>>
Insteel Q4 sales up 25% but warns of adverse Section 232 effects Oct 19,2018
Insteel Industries posted strong fiscal fourth quarter profits on Thursday, thanks to higher spreads between selling prices and raw material costs and a lower effective tax rate, but CEO Howard "H" Woltz warned US Section 232 tariffs were causing business conditions to become "increasingly challenging." "The [Trump] Administration's Section 232 ...>>>
Weekly US coal production falls across all basins: EIA Oct 19,2018
Weekly US coal production totaled an estimated 14.5 million st in the week that ended October 13, down 1.9% from a week earlier and also down 3.8% from the year-ago week, US Energy Information Administration data showed Thursday. It was the fourth time in the last eight weeks that all four basins saw week-on-week decreases. The total for Week 4...>>>
100 Spot Commodities Price Chart - 18/10/2018 Oct 19,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,15 commodities increased in prices, 36 fell and 49 remained unchanged on 18/10/2018.The largest rises were Iron ore (1.82%),Phenol (1.25%),Xylene (1.01%),while the largest falls were A...>>>
China's Sep crude throughput hits record high of 12.54 mil b/d Oct 22,2018
China's refinery crude throughput rose 4.9% year on year to a record high of 12.54 million b/d (51.34 million mt) in September, despite the country's GDP growth slowing to 6.5% in the third quarter from 6.8% a year ago, data released by the National Bureau of Statistics showed Friday. It also represented a 5.4% rebound from the eight-month-low o...>>>
Sustained China-US trade war could result in 2% rise in global LNG prices: BRG Oct 22,2018
A sustained US-China trade war into the next decade may increase average global LNG prices by 2%, with BRG Chair and Managing Director Christopher Goncalves said Thursday. "If US steel tariffs, which affect the cost of new liquefaction facilities, and Chinese retaliatory tariffs on US LNG imports remain in place into the next decade, worldwide a...>>>
South32's Australian metallurgical coal production surges 207% in Jul-Sep Oct 22,2018
South32's production at its Australian Illawarra Metallurgical Coal operation surged in the July-September quarter with its metallurgical coal volumes more than tripling, the company said on Wednesday in its quarterly activity report. "Illawarra Metallurgical Coal enjoyed a strong start to the year as an improvement in longwall productivity unde...>>>
Spanish parliament approves generating tax cut legislation Oct 22,2018
Spain's parliament voted in favor of a raft of "emergency measures" in parliament Thursday, confirming a suspension of a 7% generating tax and an exemption for natural gas used in power generation from the "green cent" tax. 'Green cent' tax cut for gas also approved Wholesale prices already down Windfall profit proposals to come The new l...>>>
November European styrene contract price set to fall, in line with spot prices Oct 22,2018
The November European styrene contract price was expected to be lower month on month in line with significant falls in spot prices during October, market sources said. "I expect a Eur30-Eur40/mt ($34.4-$45.8/mt) decrease to account for it only falling Eur70/mt last month," a consumer said. S&P Global Platts assessed styrene for loading 5-30 da...>>>