Chemical News
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Iran's October LPG exports fall for second month as new sanctions loom Oct 24,2018
Iran's LPG shipments lifted, or scheduled for loading, in October fell for the second month to 279,400 mt so far, ahead of new US sanctions next month, initial fixtures from shipping sources showed. While sources said two or three more cargoes are expected to be lifted this month -- possibly taking the total to about 411,000 mt -- these will rem...>>>
Weak European 226 aluminum prices weigh on Japanese market: traders Oct 24,2018
The widening gap between the European and Asian spot secondary auto-grade aluminum alloy prices continues to weigh on the Japanese market, trade sources said on Tuesday. The European 226 alloy prices were last assessed at Eur 1,400-Eur 1,450 ($1,600-$1,660)/mt delivered on October 19, the lowest since S&P Global Platts assessment started in 2014...>>>
Crude oil futures sink on Saudi output pledge, US stocks expectations; ICE Brent down to $78.58/b, NYMEX WTI $68.44/b Oct 24,2018
Crude oil futures sunk in European trading on Tuesday, as the market weighed pledges from Saudi Arabia to raise output, amid the continuing scandal over the disappearance of Saudi journalist Jamal Khashoggi, alongside expectations of rising crude stocks in the US. At 0952 GMT, the December ICE Brent crude futures contract was trading down $1.25 ...>>>
Rotterdam Nov fuel oil crack strengthens as Iran sanctions crimp supply: sources Oct 24,2018
The 3.5% fuel oil crack for November strengthened Monday on a strong Singapore market as Iranian sanctions have left the high sulfur fuel oil market with fewer cutterstocks used for blending to produce on-spec product, traders said. "Iranian sanctions remove a decent amount of lowish density from the market, making blending more problematic," a ...>>>
German steel recyclers urge state support with transportation woes Oct 24,2018
The German Association of steel recycling and waste management companies BSDV called for government support because of the transportation problems on German waterways at the first German national steel summit in Saarbruecken on Monday. "The current low water levels on federal waterways on the Rhine/Neckar/Main is leading to severe bottlenecks, f...>>>
Electric vehicle demand for nickel may be further out than predicted: conference Oct 24,2018
Although demand for nickel is likely to be boosted by the electric vehicle revolution, the timeframe could still be further out than some are predicting, with the stainless steel business likely to remain the biggest consumer, conference sources said this week. Australia's nickel industry said Tuesday that stainless steel continued to dominate t...>>>
Ukrainian corn sinks to 12 month low of $162.75/mt on low buying, high global stocks Oct 24,2018
Ukrainian corn was assessed at $162.75/mt Monday by S&P Global Platts, 50 cents lower on the day, taking it to a twelve month low as buyers remain on the sidelines and global stocks mount. Prices have now slid over $33, since reaching its highest point of $196/mt during this marketing year two months ago when fears were sparked of a grains short...>>>
Chinese ferrochrome prices fall, molybdenum rises, nickel briquette stabilizes Oct 25,2018
Chinese ferrochrome prices fell this week on a lack of buying interest, but molybdenum, used along with ferrochrome for stainless steel production, rose, while nickel briquette premiums were steady, market sources said Wednesday. S&P Global Platts assessed the Chinese high-carbon ferrochrome import price at 82-83 cents/lb CIF China on Wednesday,...>>>
Japan data: Oil product output up 8.7% on week at 17.84 mil barrels Oct Oct 25,2018
Japanese refiners produced 17.84 million barrels of oil products over October 14-20, up 8.7% from a week earlier, the Petroleum Association of Japan said on Wednesday. The October 14-20 output, however, was down 2% from 18.21 million barrels produced a year earlier, S&P Global Platts data showed. Middle distillates production over October 14-20...>>>
Japan data: PAJ says crude stocks up 1% on week at 78.13 mil barrels Oct Oct 25,2018
Japan's crude oil stocks stood at 78.13 million barrels as of October 20, up 1% from the week before, the Petroleum Association of Japan said Wednesday. The stocks, however, were down 7.9% from a year earlier, S&P Global Platts data showed. PAJ data excludes floating storage and import barrels yet to arrive. Unfinished oil stocks, or oil proces...>>>
Asian naphtha/Brent swap crack narrows to 45-month low on supply glut Oct 25,2018
Front-month Asian naphtha swap crack plunged to a 45-month low Tuesday, baulking the seasonal winter season uptick in the fourth quarter as oversupply continues to weaken fundamentals. The November Mean of Platts Japan naphtha swap crack against November Brent crude swap fell 98 cents/b day on day to be assessed at minus $5.32/b Tuesday. The fr...>>>
Middle distillate prices on uptrend in Asia amid strong demand, tight supply Oct 25,2018
Middle distillates prices in Asia are expected to continue strengthening until December amid ongoing robust demand for gasoil and jet fuel, market sources said Wednesday. The gasoil market in particular remained on track for a strong fourth quarter as demand continues to outstrip supply. Some traders remained bullish on price expectations throug...>>>
Japan's bunker fuel demand improves as South Korean prices rise on tight supply Oct 25,2018
Bunker fuel demand in Japan has increased as shipowners turn to Japan to refuel following a spike in South Korean bunker fuel prices amid supply tightness, market sources said. Prices for delivered 380 CST bunker fuel had risen in South Korea on the back of tight supply, with most suppliers unable to offer for October delivery. "It is super tig...>>>
Global primary aluminum market moving towards deficit: Hydro Oct 25,2018
The global primary aluminum market "is moving towards a deficit in 2018, and larger than earlier forecast, driven by slower-than-expected supply growth," Norwegian producer Hydro said Wednesday in its third-quarter results statement. Production outside China is expected to increase by 1%-2% in 2018, the company said, adding that while production...>>>
Egypt's GASC to return next month for Russian wheat: market sources Oct 25,2018
Egyptian state grain buyer GASC is expected to return next month with a wheat tender, sources said, as it makes its way through its current oversupply. Egypt currently has a stockpile of 1.3 million mt of wheat after its 14 tenders this marketing year starting July 1, according to sources. But with a monthly consumption rate of 900,000 mt to 1 ...>>>
Dollar palladium price hits all-time high, some profit locked in: sources Oct 25,2018
The dollar palladium price hit an all-time high during intraday trade Tuesday, and as such was hit by some modest profit-taking Wednesday as the market digested the move. "Although the price increase of the past two days was accompanied by a high trading volume -- 60% more futures were traded [Tuesday] than the average so far this year -- the pa...>>>
Global upstream recovery seen muted by oil industry thrift, energy transition Oct 25,2018
Global upstream activity continues to recover, according to oilfield contractors, but the risk of under-investment in new projects still hangs over the oil industry as capital discipline and the transition to lower-carbon energy weighs on development spending. Citing new research, energy consultants Wood Mackenzie said Wednesday it believes the ...>>>
Imports, Rhine logistics weigh on spot Rotterdam methanol prices Oct 25,2018
Expectations of the imminent arrival of imported cargoes and the inability to push sufficient methanol volumes out of Rotterdam up the Rhine is putting downward pressure on spot prices, sources said Wednesday. They estimated that around 100,000-150,000 mt of methanol from other regions might land in Europe in the coming weeks. Sources said the c...>>>
100 Spot Commodities Price Chart - 24/10/2018 Oct 25,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,16 commodities increased in prices, 34 fell and 50 remained unchanged on 24/10/2018.The largest rises were Hydrochloric acid (47.70%),Chloroform (4.25%),Toluene (2.74%),while the large...>>>
China's Sinopec cuts East China benzene price by Yuan 200/mt Oct 26,2018
Major Chinese benzene producer China Petroleum and Chemical Corporation, or Sinopec has lowered its domestic benzene price by Yuan 200/mt, a company source said on Friday. The listed price in East China is now Yuan 6,700/mt ex-tank, equivalent to approximately $815.83/mt on an import parity basis, down from Yuan 6,900/mt previously, based on an ...>>>