Chemical News
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Oman's oil output reaches new high in November, but exports continue to tumble Dec 18,2018
Crude production in Oman reached a two-year high for the second consecutive month in November, averaging at 1 million b/d, up from 995,300 b/ in October, according to data released by the oil ministry on Sunday. Crude exports from the Sultanate however, continued to drop month-on-month for November, with an average rate of 758,219 b/d, down from...>>>
Chinese, Philippine companies sign MOU for $4.4 bil steel plant at Mindanao Dec 18,2018
Chinese and Philippine companies have signed a memorandum of understanding to build a $4.4 billion integrated steel plant at Misamis Oriental in northern Mindanao, the Department of Trade and Industry said late Friday. China's HBIS Group and Huili Investment Fund Management and the Philippine's SteelAsia Manufacturing Corporation and PHIVIDEC In...>>>
Canada's Ridley Terminals November coal exports climb 13.5% on month, 1.6% on year Dec 18,2018
Coal exports from Ridley Terminals in Prince Rupert, British Columbia, totaled 611,247 mt in November, up 13.5% from a nine-month low 538,486 mt in October and the highest shipped out in the month of November since 1.39 million mt in 2012, according to data from the Prince Rupert Port Authority released Monday. The total, which combines metallur...>>>
China's Sinopec cuts domestic benzene price by Yuan 150/mt to Yuan 5,150/mt Dec 18,2018
China Petroleum & Chemical Corporation, or Sinopec, a major Chinese benzene producer, lowered its domestic ex-tank benzene price by Yuan 150/mt, a company source said Monday. The listed price for domestic East China benzene was reduced to Yuan 5,150/mt from Yuan 5,300/mt. The new listed price equates to approximately $633.11/mt on an import-par...>>>
Steelmakers to benefit from Brazilian macroeconomic situation in 2019: Moody's Dec 18,2018
Brazil's steelmakers are likely to benefit in 2019 from stability in the country's macroeconomics indicators, automotive sector growth and an improvement in housing starts, according to a report by Moody's Investors Service. The stability of Brazil's macroeconomics indicators will support growth in major steel consuming industries, while a stron...>>>
US soybeans inspected for export up 5.21% on week, down 45.72% on year: USDA Dec 18,2018
The amount of US soybeans inspected for export in the week ended December 13 was 974,876 mt, up 5.21% from the revised numbers from the previous week and down 45.72% from the year-ago week, the Department of Agriculture showed Monday. Marketing year-to-date total export inspections volume was up to 15.159 million mt, which is 41.46% lower year o...>>>
Katowice 2018: UN climate talks fail to get markets deal amid Brazilian opposition Dec 18,2018
UN climate negotiators failed to reach a deal on international carbon market rules after two weeks of talks in Katowice, Poland, after countries led by Brazil opposed proposals to require robust accounting of transfers of emissions reductions between countries. The annual conference of the UN Framework Convention on Climate Change was meeting to...>>>
Unplanned outage reported at Norwegian Nyhamna natural gas processing plant Dec 18,2018
Norwegian natural gas pipeline exports looked set to fall back in the latter part of Monday's gas day due to an unplanned outage at the Nyhamna processing plant, Norwegian gas operator Gassco reported Monday afternoon. The unplanned outage began at 1458 GMT Monday, with Gassco reporting both the length and severity of the outage as "unknown." A...>>>
100 Spot Commodities Price Chart - 17/12/2018 Dec 18,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,24 commodities increased in prices, 24 fell and 52 remained unchanged on 17/12/2018.The largest rises were Dried cocoons (16.73%),Raw silk (12.41%),Nickel (1.26%),while the largest fal...>>>
China's Nov oil product output rises 1% on year, falls 3% on month Dec 19,2018
China's total production of LPG, naphtha, gasoline, jet fuel/kerosene, gasoil and fuel oil in November edged up 0.9% year on year, but fell 2.9% month on month, S&P Global Platts calculations based on data released by the National Bureau of Statistics on Tuesday showed. Total output for the six major oil products was 38.75 million mt in November...>>>
Crude oil futures continue downtrend amid supply concerns Dec 19,2018
Crude oil futures were lower during mid-morning trade in Asia Tuesday, continuing the downtrend from the overnight slide as investors remained concerned about growing supply amid poor demand. At 10:40 am Singapore time (0240 GMT), ICE February Brent crude futures were down 63 cents/b (1.06%) from Monday's settle to $58.98/b, while the NYMEX Janu...>>>
Singapore Jan/Feb gasoil timespread extends losses on bearish fundamentals Dec 19,2018
The Singapore front month January/February gasoil timespread extended losses and posted a fresh year-to-date low on Monday as tepid demand against a backdrop of plentiful supplies continued to erode sentiment. At the Asian close Monday, the Singapore front month January/February gasoil timespread fell to a year-to-date low of minus 87 cents/b. T...>>>
Indonesia's Oct crude exports tumble as Jakarta aims more domestic use Dec 19,2018
Indonesia's crude and condensate exports fell sharply in October, while imports of both items also declined in the same month, according to the latest data from Statistics Indonesia. The drops in imports and exports reflect Jakarta's ongoing efforts to increase dependency on domestic oil as the economy battles against a widening current account ...>>>
Poor secondary aluminum margins may cause consolidation: sources Dec 19,2018
Japanese and Chinese secondary aluminum market sources warned that low demand and increases in supplies, resulting in poor smelter margins, may force some unprofitable plants to close and cause industry-wide consolidation. This week, Japanese traders said they have been offered $1,620/mt CIF Japan ($1,600/mt FOB China) for February shipments fro...>>>
China's coastal coal freights rise in week ended December 18 Dec 19,2018
Freight costs for shipping coal from northern China's Qinhuangdao Port to the other Chinese ports of Zhangjiagang, Shanghai, and Guangzhou in eastern and southern China moved upwards in the week to December 18, after mixed rates seen the previous week, port operator Qinhuangdao Port said Tuesday. The freight rate from Qinhuangdao to Zhangjiagang...>>>
Saudi Oct crude oil exports highest since Jan 2017, according to JODI Dec 19,2018
Saudi Arabia's crude oil exports surged to a 21-month high of 7.701 million b/d in October, the latest figures from the Joint Organizations Data Initiative show, as the kingdom boosted its supplies to the market ahead of the US' reimposition of sanctions on Iran. The October figure was a 268,000 b/d rise from September and the highest since Janu...>>>
Spot US MTBE follows European market to two-year low Dec 19,2018
US MTBE hit a two-year low Tuesday, falling in concert with its Northwest European counterpart, to be assessed at 170.77-170.87 cents/gal FOB USG. On November 29, 2016, spot US MTBE was assessed at 160.90 cents/gal FOB USG. Spot US MTBE -- which was assessed Tuesday by S&P Global Platts at an 11-cent premium to the FOB ARA marker -- slumped 8.9...>>>
NYMEX January natural gas sees double-digit rebound on rise in demand Dec 19,2018
A slight rise in demand Tuesday provided impetus for the NYMEX January natural gas futures contract and the rest of the winter to rebound Tuesday after five straight days of exploring the downside. The NYMEX January contract settled at $3.838/MMBtu, up 31 cents from Monday's close of $3.528/MMBtu. Monday's settle was the lowest for a front-mont...>>>
Asian naphtha market strengthens as lofty freight rates block European supply Dec 19,2018
The Asian naphtha market staged a rebound in recent trading sessions, as supplies gradually tightened in the region with European producers and traders struggling to push their surplus cargoes to the Far East amid lofty LR freight rates, market participants said Tuesday. The Northeast Asian naphtha market structure has flipped to backwardation, ...>>>
100 Spot Commodities Price Chart - 18/12/2018 Dec 19,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,14 commodities increased in prices, 25 fell and 61 remained unchanged on 18/12/2018.The largest rises were Propylene oxide (10.05%),Sulfur (3.82%),Steel I bean (2.31%),while the larges...>>>