Chemical News
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EPCA 2018: Sources say European paraxylene supply to be short, reliant on imports Oct 22,2018
The European paraxylene market is likely to become structurally short of product as Indorama's recently restarted Artlant purified terephthalic acid plant in Sines, Portugal, theoretically could absorb all available European production and still require imports, according to market sources. "The Artlant plant will be short," a source said. Indor...>>>
BASF declares force majeure on butyl acrylate, ethyl acrylate from Ludwigshafen on low Rhine levels Oct 22,2018
German chemicals major BASF has declared force majeure on deliveries of butyl acrylate and ethyl acrylate from its site in Ludwigshafen on Thursday, the company told S&P Global Platts Friday. "Our production site in Ludwigshafen is currently encountering significant constraints regarding the raw material supply via barge due to the very low wate...>>>
Norway's upstream oil output continues steep plunge in September Oct 22,2018
Norway's crude oil production plunged by 13% on the month in September and was down 8% on the year in the first nine months as technical difficulties and maintenance took their toll ahead of expected field start-ups in the next few years, figures from the Norwegian Petroleum Directorate showed Friday. The country produced 1.30 million b/d of cru...>>>
Philippines' DOE sets Q1 2019 domestic ethanol allocations 12% lower on quarter at 91,000 cu m Oct 22,2018
The Philippines' Department of Energy has set local monthly allocations, or LMAs, for domestic ethanol production at 91,000 cu m for the first quarter of 2019, a source with a major Philippine oil company said Friday. That will be 12.17% lower than Q4 2018 but 20.06% higher year on year. The Q1 LMAs comprised of 29,500 cu m for January, 29,900 ...>>>
Domestic Brazilian HRC steel prices unchanged, price hikes expected Oct 22,2018
Domestic spot Brazilian prices for hot-rolled coil steel were rangebound over the past week or so, although a few sources are still expecting price hikes. The S&P Global Platts weekly assessment for Brazilian domestic HRC remained unchanged Friday at Real 2,955/mt ($795/mt) ex-works, excluding taxes, based on a range of Real 2,930 to Real 2,980/...>>>
100 Spot Commodities Price Chart - 19/10/2018 Oct 22,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,18 commodities increased in prices, 37 fell and 45 remained unchanged on 19/10/2018.The largest rises were Sulfuric acid (1.88%),PA (1.56%),Nitric acid (1.54%),while the largest falls ...>>>
Japan naphtha crack slumps to three-month low on thin demand, market overhang Oct 23,2018
The CFR Japan naphtha crack against front month December ICE Brent crude futures slumped to a three-month low of $74.75/mt Friday, as the market struggled with sluggish demand and ample supplies, market sources said Monday. The crack was last lower on July 2, at $73.425/mt, S&P Global Platts data showed. Demand has been lackluster as some steam...>>>
Trading in Asian sweet crude for Dec cycle gets underway; more tenders this week Oct 23,2018
Loading programs and tenders for Malaysia's crudes emerged last week, with more expected to be issued this week along with PTT's usual sweet crude buy tender for IRPC, edging up momentum for the December trading cycle of the Asian sweet crude market, sources said. Yet for condensates, a lack of strength in the naphtha market and a sizable overha...>>>
Crude oil futures stable amid mild build in US rig data; supply concerns Oct 23,2018
Crude oil futures were largely stable during mid-morning trade in Asia Monday as markets digested a mild uptick reported in US oil rig data, amid prevailing supply side uncertainties which continue to inject upside pressure on prices. At 10:30 am Singapore time (0230 GMT), the December ICE Brent crude futures ticked up 7 cents/b (0.09%) from Fri...>>>
Cut in UK carbon tax 'would boost coal-fired output by 12 TWh/year' Oct 23,2018
A cut in the UK's Carbon Price Support tax risks a resurgence in coal-fired generation and higher CO2 emissions into the 2020s, Aurora Energy Research said Monday. Ahead of the UK Autumn Budget October 29 there is speculation within the energy industry that the government might respond to rising CO2 prices in the EU Emissions Trading System by r...>>>
Molybdenum concentrate prices surge on China buying ahead of 2019 term oxide talks Oct 23,2018
Spot molybdenum concentrate prices have surged this month on strong demand from Chinese moly oxide producers, ahead of the 2019 term contractual negotiations throughout the global moly supply chain, Asian market sources said Monday. Recent spot deals for South American moly conc, which is feedstock for moly oxide production, were done 5%-8% high...>>>
Power transmission capacity curtailed on Dutch-Belgian border for Oct 23 as storm looms Oct 23,2018
Cross-border power transmission capacity from the Netherlands into Belgium has been curtailed for Tuesday due to operational issues with near record wind forecast for Germany, according to a note on transmission system operator platform JAO Monday. Unscheduled loop flows often stemming from high wind in Germany are a key risk to the Belgian grid...>>>
World aluminum production up 2.5% on year in September: IAI Oct 23,2018
Global primary aluminum output rose 2.5% year-on-year to 5.3 million mt in September, International Aluminium Institute (IAI) data published Monday showed. The figure was down 3.4% from 5.485 million mt in August, while on a daily basis production was marginally down month-on-month at 176,700 mt/day. For the January-September period, world prod...>>>
EU sugar beet yield revised down to 72.7 mt/ha from 73.3 mt/ha: MARS Oct 23,2018
The European Commission's crop monitoring unit MARS said in its October bulletin Monday that it had revised its sugar beet yield forecast for Europe down to 72.7 mt a hectare from 73.3 mt/ha in its August bulletin. The latest forecast was 2.8% below the five-year average of 74.9 mt/ha. MARS also revised France's sugar beet yield forecast down to...>>>
US Senator Rubio asks steel and aluminum exemption for Colombia Oct 23,2018
US Senator Marco Rubio (R-FL) and US Representatives sent a letter Friday to US Trade Representative Robert Lighthizer and Secretary of Commerce Wilbur Ross, requesting the administration to expedite negotiations of additional steel and aluminum exemption agreements with US allies and partners, including Colombia. "We respectfully request that y...>>>
Mexico confident of exclusion to US, Canadian tariffs by end-November: official Oct 23,2018
Mexico is confident of reaching an agreement on US steel import tariffs and Canadian import safeguards, a government official said Monday. "We are seeking total exclusions of the tariffs," said Rogelio Garza, undersecretary of industry and commerce at the Mexican Economy Secretariat during the Sixth Mexican Steel Congress, or Canacero. Garza ad...>>>
100 Spot Commodities Price Chart - 22/10/2018 Oct 23,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,25 commodities increased in prices, 29 fell and 46 remained unchanged on 22/10/2018.The largest rises were Chloroform (2.89%),Nickel (1.49%),Xylene (1.15%),while the largest falls were...>>>
China data: Sep oil product output inches up 0.8% on year, rises 2.5% on month Oct 24,2018
China's total production of LPG, naphtha, gasoline, jet fuel/kerosene, gasoil and fuel oil in September edged up 0.8% year on year, and rose 2.5% month on month, S&P Global Platts calculations based on data released by the National Bureau of Statistics showed Tuesday. Total output for the six major oil products was 38.84 million mt in September,...>>>
Paraxylene derivatives on SGX hits new daily open interest high on Oct 19 Oct 24,2018
Paraxylene derivatives instruments settled on the Singapore Exchange, or SGX, recorded a new daily open interest high of 962,500 mt on October 19, SGX data showed. Petrochemical derivatives instruments settled on the SGX in 2018 has so far reached a cleared volume of 4.1 million mt as of October 19. Paraxylene and benzene, which settle off the P...>>>
South Korea's Posco expects strong steel demand in Q4 amid Chinese production cuts Oct 24,2018
South Korea's Posco expects fourth quarter steel demand to be firm on the back of lower Chinese production and demand from emerging markets, the steelmaker said Tuesday. As a result, it expects to post consolidated annual sales of Won 64.8 trillion ($57 billion), up from a previous estimate of Won 64.1 trillion in July. In 2017, revenue achieved...>>>