Chemical News
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China's June steel output rises 10% on year to 87.53 mil mt Jul 15,2019
China's crude steel output in June reached 87.53 million mt, up 10% year on year, data released by the National Bureau of Statistics on July 15 showed. The June daily crude steel output sets another record high at 2.918 million mt/day, up 1.5% from May's average of 2.834 million mt/day. In January-June, China's crude steel output totaled 492.17...>>>
China's H1 GDP grows 6.3% on year, Q2 rises 6.2%; expands at lowest rate in 27 years Jul 15,2019
China's National Bureau of Statistics on Monday said the country's first-half gross domestic product rose 6.3% year on year, while its second-quarter GDP grew 6.2% year on year. Both reflected the slowest year-on-year pace of growth since 1993. NBS' online database provides quarterly GDP growth rates from 1993. "China's economy continued to ope...>>>
Crude oil futures slip as Storm Barry weakens, IEA report bearish Jul 15,2019
Crude oil futures were lower during mid-morning trade in Asia Monday as markets began to recover from Tropical Storm Barry, while a bearish outlook on oil fundamentals by the International Energy Agency also pushed prices lower. At 10:40 am Singapore time (0240 GMT), front-month ICE Brent September futures fell 24 cents/b (0.36%) from Friday's s...>>>
Entergy Louisiana sees power outages decline as Barry moves north Jul 15,2019
Entergy Louisiana said Sunday afternoon that its customer power outages totaled approximately 46,000, compared with 57,000 outages at noon and 64,000 outages at 8:30 am CDT. Barry, which has been downgraded to a tropical depression, is moving now toward the northern part of the state and is expected to move into Arkansas. The utility said in a ...>>>
Trump rejects uranium import limits, but begins nuclear fuel review Jul 15,2019
President Donald Trump issued a decision late Friday rejecting a request from US uranium producers that US utilities be required to purchase a portion of their annual uranium requirements domestically, calling instead for a 90-day review of nuclear fuel issues. The Trump administration did not take the action sought by US uranium producers, who ...>>>
No tankers expected at Cameron LNG for Barry's duration: spokeswoman Jul 15,2019
Cameron LNG was not scheduled to receive any tankers to load for export for the anticipated duration of Tropical Storm Barry, a spokeswoman said Friday. The disclosure came after Lake Charles Pilots advised they would be temporarily suspending service along the intracoastal waterway that serves the Louisiana terminal. Even as the brunt of the s...>>>
US wheat net export sales up 3% on week, Philippines remains top buyer Jul 15,2019
US wheat net export sales totaled 284,370 mt in the week ended July 4, up 3% week on week, led by large volume booking from the Philippines, latest data from the US Department of Agriculture showed. The latest weekly sales came within market expectations, as analysts had estimated sales to be in the range of 250,000-550,000 mt. Physical wheat e...>>>
Louisiana chemical plants expecting little Barry impact Jul 15,2019
Most chemical companies in the path of Tropical Storm Barry expect to continue operating normally amid predictions of heavy rain and wind as the storm passes through Louisiana this weekend. Indorama Ventures shut its 440,000 mt/year steam cracker in Lake Charles, Louisiana, spokeswoman Richard Jones confirmed in an email Friday, but other major ...>>>
ArcelorMittal Italia declares force majeure after crane accident Jul 15,2019
ArcelorMittal Italia has declared force majeure following a crane accident Wednesday at its Taranto works, the company announced in a letter seen by S&P Global Platts Friday. The declaration follows the authorities' seizure of the pier No. 4 at the Taranto works for investigation, ArcelorMittal said in the letter dated Thursday. As a result of ...>>>
Philadelphia refinery closure props up gasoline; could boost diesel Jul 15,2019
The closure of the Philadelphia Energy Solutions refinery has not only stretched the trans-Atlantic gasoline arbitrage wide open but it leaves a gaping hole in US East Coast supply that could last for months, with demand for diesel also possibly getting a boost this winter. The fire at an alkylation unit in June and subsequent mothballing of the...>>>
Nord Stream 2 mulls options in dispute over new EU gas rules Jul 15,2019
The company building Russia's Nord Stream 2 gas link to Germany is mulling its next steps after talks with the European Commission failed to resolve its concerns about new EU gas rules within a three-month deadline. The planned 55 Bcm/year link is facing tariffs regulated by Germany for its section in German territorial waters by February 24, 20...>>>
100 Spot Commodities Price Chart - 12/07/2019 Jul 15,2019
It was assessed by SunSirs that in the tracked 100 spot commodities,27 commodities increased in prices, 21 fell and 52 remained unchanged on 12/07/2019.The largest rises were Ethylene oxide (2.78%),2-EH (2.44%),Sulfuric acid (2.22%),while the largest f...>>>
US West Coast diesel differentials decline after spring peak Jul 18,2019
US West Coast diesel differentials have fallen dramatically since summer began as stocks and refinery utilization percentages have recovered from the spring maintenance season. California-grade diesel in Los Angeles was assessed Wednesday at NYMEX August ULSD plus 2 cents/gal, its lowest price since it was flat to futures on June 20. The grade w...>>>
Argentina biodiesel exports start to revive thanks to EU deal: Carbio chief Jul 18,2019
Argentina's biodiesel exports are recovering from nearly a year of low sales after an agreement was reached to reopen shipments to the European Union, the head of an industry group said Wednesday. The deal allows Argentina to export 1.2 million mt/year to the EU, effective from March 2019, Victor Castro, executive director of the Argentina Chamb...>>>
Ontario's DR loads to be able to switch between zonal, nodal pricing Jul 18,2019
Ontario electricity consumers may have the option of paying nodal prices or a province-wide zonal price -- and may switch back and forth in a limited way -- under a load pricing mechanism proposed for the Independent Electricity System Operator's Market Renewal Program. During a Market Renewal Program update webcast, IESO executives described a ...>>>
Natural gas merely a 'byproduct' for producers in US shale oil plays: Northern CFO Jul 18,2019
CFO says Bakken most profitable US play Low gas prices hardly affect breakevens Bakken producer Northern Oil and Gas chief financial officer Nick O'Grady described natural gas as "a byproduct" Wednesday, as exploration and production companies target the most oil-rich wells in order to boost internal rates of return. "Oil leverage is reall...>>>
US tops July LNG exporters to Brazil: Platts Analytics data Jul 18,2019
Two thirds of Brazil's LNG imports so far in July have been sourced from the US, S&P Global Platts Analytics data showed Wednesday. Brazil imported a total of 469,129 cu m of LNG in the first 17 days of July from the US and Equatorial Guinea, equivalent to 10.08 Bcf of gas, according to the data. Of that total, 312,807 cu m of LNG - or 6.72 Bcf...>>>
Alliance's coal sales volume expectations lowered on weaker production: B. Riley Jul 18,2019
B. Riley analysts lowered their second-quarter sales volume estimate for Alliance Resource Partners given the drop in Illinois Basin and Central Appalachian production from the first quarter as shown by Mine Safety and Health Administration data. To date MSHA has reported 80% of Alliance's ILB output and about half of its CAPP production, showin...>>>
Argentina's shale oil production growth pushes up refinery run rates Jul 18,2019
Argentina's surging shale oil production is feeding more supplies to the country's refineries, helping to increase run rates, the Neuquen government said Wednesday. Refineries operated at an average of 78.3% of capacity in May, the highest rate in seven months, the state statistics agency Indec reported Monday. The government of Neuquen, home t...>>>
Finnish EU presidency to push 2050 net-zero CO₂ accord by end-2019 Jul 18,2019
Finland will push all EU leaders to commit to 2050 net-zero emissions by the end of its EU presidency in just over five months time, its Prime Minister Annti Rinne told the European Parliament Wednesday. A net-zero commitment is a step up from the current EU goal to cut emissions by at least 80% on 1990 levels, and implies a faster cut in emissi...>>>