Chemical News
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FERC OKs Cal-ISO plan to improve key tool linked to scarcity pricing Feb 25,2019
The Federal Energy Regulatory Commission has approved a California Independent System Operator proposal that will change when scarcity pricing kicks in, finding that Cal-ISO's revised tool will ensure shortage pricing is not triggered when there are no actual shortage conditions on the system. The revised tool could boost energy prices in Arizo...>>>
100 Spot Commodities Price Chart - 22/02/2019 Feb 25,2019
It was assessed by SunSirs that in the tracked 100 spot commodities,27 commodities increased in prices, 20 fell and 53 remained unchanged on 22/02/2019.The largest rises were Polyamide FDY (3.37%),Aniline (1.66%),Hot rolled coil (1.48%),while the large...>>>
Indonesia postpones coal, palm oil insurance regulations to May Mar 01,2019
Indonesia's Trade Ministry has postponed its regulations requiring coal and palm oil exporters to use local insurers to May 31, the ministry said in an official notice. "Exporters and or buyers in export destination countries need time to adjust and comply with these policies," the notice issued on Wednesday said. It added that some export des...>>>
Chile's Jan copper production at 460,064 mt, down 17.5% on bumper Dec Mar 01,2019
Chile produced 460,064 mt of copper in January, marking a drop of 4.5% from the same month of last year, according to government figures. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The figure also marked a drop of 17.5% from record monthly output of 557,780 mt in the previous m...>>>
Brazil's Petrobras targets 13% rise in domestic crude oil output in 2019 Mar 01,2019
Brazilian state-led oil producer Petrobras expects domestic crude output to rise 13.0% year on year to 2.3 million b/d in 2019 as fresh wells are connected to floating production units installed over the past year, including including ongoing development of the massive Buzios subsalt field. Petrobras has started operations on six floating produc...>>>
February European LNG imports at 4.23 mil mt, down 29% compared to December Mar 01,2019
February shipments of LNG directly into established European natural gas market areas have fallen 29% from December to 4.23 million mt (or 5.795 Bcm of natural gas equivalent), in contrast to high regasification levels in Europe, data from S&P Global Platts Analytics shows. Regasification into UK, Belgian, Dutch, French, Spanish and Italian grid...>>>
ESPO premiums shrink to six-month low on soft demand, narrow EFS Mar 01,2019
Premiums for April-loading Far East Russian ESPO Blend crude oil touched a near six-month low on Thursday as tepid demand and a weak market structure pressured premiums lower, trade sources said. The M1 April loading ESPO premiums were assessed at $2.30/b to Platts front-month Dubai crude assessments as of 4:30 pm Singapore time (0830 GMT) Thurs...>>>
Crude oil futures higher on imminent 'historic' US-China deal Mar 01,2019
Crude oil futures were higher during mid-morning trade in Asia Friday, on an imminent 'historic' trade deal between the US and China. At 10:25 am Singapore time (0225 GMT), ICE May Brent crude futures were 21 cents/b (0.32%) higher from Thursday's settle at $66.52/b, while the NYMEX April light sweet crude contract was 15 cents/b (0.26%) higher ...>>>
March US butadiene contracts settle at split rollover: sources Mar 01,2019
All four US butadiene producers were heard rolling over March contract pricing from February levels this week, sources said Thursday. TPC Group, ExxonMobil and LyondellBasell each settled March contract butadiene prices at 49 cents/lb ($1,080/mt), stable on the month and in line with nominated levels, sources said. Shell also rolled over from F...>>>
Chile's SQM to hold back lithium production as global supply grows Mar 01,2019
Chile's SQM plans to hold around a sixth of its 2019 lithium production off the market as a raft of projects come on stream worldwide, CEO Ricardo Ramos said Thursday. In a conference call with analysts, the executive said the company plans to produce just over 60,000 mt of lithium this year. However, the company only plans to sell just under 5...>>>
100 Spot Commodities Price Chart - 28/02/2019 Mar 01,2019
It was assessed by SunSirs that in the tracked 100 spot commodities,22 commodities increased in prices, 14 fell and 64 remained unchanged on 28/02/2019.The largest rises were Ethylene oxide (2.50%),Wood pulp (2.24%),Asphalt (1.82%),while the largest fa...>>>
China planning body seeks to rein in surging thermal coal prices as key meeting starts Mar 05,2019
China is taking steps to rein in surging thermal coal prices in the domestic market and ensure smooth supply during the annual sessions of the National People's Congress in Beijing which started Tuesday. The National Development Reform Commission held a meeting Monday with major coal producers, rail operators as well as port authorities, market ...>>>
ABARES raises Australia's 2019-20 wheat output forecast despite uncertain weather Mar 05,2019
Australia's wheat production in the 2019-20 marketing season (October-September) could see a sharp jump of 38.2% over the current season that was overshadowed by difficult weather conditions, the Australian Bureau of Agricultural and Resource Economics and Sciences said in a report Tuesday. Australia could see its 2019-20 production jump to 23.9...>>>
Indonesia's Polychem to shut 96,000 mt/year MEG line due to poor margins Mar 05,2019
Polychem Indonesia plans to shut its 96,000 mt/year monoethylene glycol line at Serang in Java next week, without a confirmed restart timeline, in response to poor margins, a company source said Tuesday. The company purchases ethylene to produce MEG. The profit margin for Asian ethylene-based MEG producers was calculated at minus $187/mt Monday,...>>>
Brazil overtakes Russia as top supplier to China's independent refineries in Feb Mar 05,2019
Surpassing Russia, Brazilian crude oil shipments for China's independent refineries topped the list in February at 2.17 million mt, S&P Global Platts monthly survey showed Tuesday. Total imports from Brazil were just 54,000 mt more than those from Russia, though they were still 5.4% lower from January. The strong increase was believed to be dri...>>>
Yemen's energy revival plan leaves analysts skeptical Mar 05,2019
Yemen has announced plans to generate 32% of revenues from oil and natural gas this year in its first detailed budget since 2014. But analysts are skeptical about the country's goal of enticing more foreign investors to help boost exports and generate vital cash needed for the Middle East's poorest and war-torn country. Oil exports have been sla...>>>
China's independent refiners' Feb crude imports fall 15% on month to 9.75 mil mt Mar 05,2019
Crude oil imports for China's independent refineries fell for the second consecutive month in February to 9.75 million mt, or 2.55 million b/d, after hitting an historical high of 12.6 million mt in December, a monthly survey by S&P Global Platts showed Tuesday. The February total was down a sharp 15.3% from January, but still 24.7% higher than ...>>>
Asian gasoline rallies as fundamentals improve; physical crack at 4-month high Mar 05,2019
The Asian gasoline market, which had seen refining margins drop to multi-year lows through November 2018 to January 2019, has steadily recovered since February with the Singapore 92 RON gasoline crack spread against front month April ICE Brent crude oil futures hitting a four-month high of plus $2.41/b at the 0830 GMT Asian close on Monday. The...>>>
Crude oil futures retreat as China lowers 2019 economic growth target Mar 05,2019
Crude oil futures retreated from recent highs during mid-morning trade in Asia Tuesday as China lowers its economic growth target for 2019. At 10:25 am Singapore time (0949 GMT), ICE May Brent crude futures were down 26 cents/b (0.4%) from Monday's settle at $65.41/b, while the NYMEX April light sweet crude contract moved 20 cents/b (0.35%) lowe...>>>
Analysis: Alberta natural gas storage inventory decline points to upside for AECO this summer Mar 05,2019
As natural gas storage inventories in Alberta plunged compared with the five-year average due to the frigid temperatures seen over the past month, which are expected to continue in March, the increased demand for injections required later in 2019 is expected to drive AECO hub's summer basis higher, according to S&P Global Platts Analytics. Tempe...>>>