Chemical News
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Asia:India to have floating solar power plant Mar 24,2011
India's private energy giant Tata Power has joined with Australia's Sunengy Pty Limited for a $1 million pilot project to build a solar-powered electricity generation plant that will float on water, the companies announced. "In our quest to deliver sustainable energy, Tata Power is consistently investing in clean and eco-friendly technologies," Ta...>>>
US ethanol flows into Brazil amid supply shortage fears Mar 24,2011
HOUSTON-Brazil will receive around 200m litres (53m gal) of anhydrous ethanol, mostly from the US, over the next few weeks, market sources said on Wednesday, adding that the cargoes will help the country avoid a potential supply shortage. Market sources said half of the shipments were headed to Brazil’s centre-south region, which accounts for ar...>>>
Asia SBR prices up on surging natural rubber, Japan restarts Mar 23,2011
SINGAPORE-Asian styrene butadiene rubber (SBR) prices have rebounded sharply on surging natural rubber (NR) prices and are likely to remain firm on news that major automakers in Japan are restarting their operations, industry sources said on Wednesday. Spot offers for non-oil grade 1502 SBR have been raised by $100–200/tonne (€0–140/tonne) ...>>>
Asia:Japan crisis : India, China to review nuke policies Mar 23,2011
Japan's nuclear crisis prompted many nations to rethink about their nuclear power plans. However, International Atomic Energy Agency said atomic energy will remain an option for power generation. Speaking to reporters here IAEA Chief Yukiya Amano said "This is the decision of each government, but of course this accident will give impact" to...>>>
Americas:Metals-Energy Update: Natural gas zooms, gold steady Mar 23,2011
Natural gas has been one major beneficiary of the Japan nuclear crisis and has climbed more than seven percent in New York last week while crude oil weakened a bit as tensions in Libya eased thereby giving expectations that supply from the region will be restored soon. Base metals prices have risen reflecting global trends and strong domestic deman...>>>
Europe:Oil jumps after allied forces bombard Libya Mar 23,2011
World oil prices climbed after Western forces attacked Gadhafi's militia in the first ever attack on Arab world since US led attacks in Iraq. Light sweet crude for April delivery advanced above $103 a barrel mark in early Asian trade while London's Brent crude was climbed past $116 mark. At 12.00 noon Singapore time, New York's main contrac...>>>
Asia:EU looks beyond nuclear power after Japan crisis Mar 23,2011
The nuclear crisis in Japan could put alternative energy sources like offshore wind in the spotlight, the European climate change commissioner said. A magnitude-9 earthquake struck Japan last week, causing a tsunami that led to massive amounts of loss of life and property damage. A nuclear power plant is on the verge of meltdown because of quake da...>>>
Asia:Are commodities hit by earthquake in Japan? Mar 23,2011
The earthquake and tsunami that struck Japan on March 11 has caused tremendous destruction to the country. Police confirmed at least 7197 people died but actual casualty will likely be revised higher. Currently 11 of the nuclear reactors totaling around 9.7 GW, or about 20% of capacity, and 11-12 GW of thermal power generation, have been closed dow...>>>
Americas:Oil hovers near $103 on Mideast worries Mar 23,2011
Global oil prices continued to advance further as concerns over possible oil supply cuts from the troubled MENA (Middle East & North Africa) region escalated. Light sweet crude for April delivery was seen trading at $102.65 a barrel at 12.00 noon Singapore time while the more-actively traded May futures climbed 1 cent to $103.10 a barrel. In ...>>>
Asia:Renewable energy to gain on Japan nuclear crisis Mar 23,2011
With perceptions of nuclear power souring amid the unfolding Japanese disaster, analysts expect subsequent gains for natural gas and renewables. Japan is struggling to contain the worst nuclear disaster since the 1986 meltdown at the Chernobyl nuclear power plant in Ukraine. A magnitude-9 earthquake struck the north of Japan March 11, damaging reac...>>>
Germany's LANXESS Q4 net income up 86% as sales surge Mar 21,2011
LONDON-LANXESS' fourth-quarter 2010 net income jumped 86% year on year to ?6m ($36m) as sales rose across all of its businesses, especially in emerging markets, the Germany-based specialty chemicals firm said on Thursday. Sales in the fourth quarter climbed 32% year on year to ?.83bn, as all of the firm’s business segments benefited from higher ...>>>
Americas:Chevron weighing Shale gas prospects carefully Mar 18,2011
Chevron is looking selectively at which shale deposits in the United States will yield the best results for the company, its exploration director said. Shale deposits are considered an emerging energy resource for the United States. T. Boone Pickens, a Texas oil magnate, said abundant gas reserves in the United States made the country the "Saud...>>>
Asia:Oil dips again on demand concerns over Japan Mar 18,2011
World oil prices pared overnight gains in early Asian trade Thursday on demand concerns after Japan ordered citizens to take extreme care on radiation threats. Analysts said fresh concerns over Japan offset fears about Middle East and North Africa which boosted oil prices overnight. Light sweet crude for April delivery was seen trading at $...>>>
JAPAN DISASTER: Policy, supply chains cloud effect on US chems Mar 18,2011
HOUSTON-Complicated supply chains and the vagaries of energy policy cloud the effects that the multiple Japanese disasters will have on the US chemicals industry, an economist said on Thursday. A massive 9.0-magnitude earthquake and tsunami hit Japan on Friday. The disasters damaged the cooling systems at several nuclear reactors at the Fukishi...>>>
Benzene prices tank in Asia Mar 18,2011
Prices of benzene in Asia tanked on Wednesday. Prices tumbled on bearish cues from the US markets. Although concerns regarding aromatic plant shutdowns in Japan post last week’s earthquake and Tsunami continued to cause underlying worries about supply disruptions, the steep 12 cents/gallon fall in US benzene rates, held centre stage. FOB Korea p...>>>
Toluene prices in Europe hammered lower Mar 18,2011
As demand for toluene in Europe eased, downward pressure was seen rapidly building on spot prices. On Wednesday, sellers of toluene were forced to reduce their offers as not only was the buying mood in the region sluggish but also worries were mounting about increasing length in the markets. FOB Rotterdam prices of toluene were assessed down at ...>>>
Spot styrene moves down in March across the globe Mar 18,2011
In March, spot styrene prices across the globe have followed a downward trend for the most part, with current prices standing significantly below the early March levels in Europe, Asia and the US. This happened despite firm crude oil prices which hovered above the $100/barrel threshold during most of March before retreating to $97.18/barrel in the ...>>>
Americas: US PVC prices to rise as global supply tightens on Japan earthquake Mar 18,2011
US PVC export prices were expected to increase in April, driven by strong demand from Asia, as imports from Japan were anticipated to plummet in coming months due to plant outages derived from a massive earthquake. "Some US producers have decided to postpone one more week the announcement of their April nominations. They are waiting to see what...>>>
Asia: US Honeywell declares force majeure on caprolactam from Virginia plant Mar 18,2011
US-based Honeywell has declared a force majeure on caprolactam production from its plant at Hopewell, Virginia, effective Tuesday, sources in Asia said Thursday. The sources cited tight availability of phenol feedstock for the 375,000 mt/year plant as the reason for the force majeure. Caprolactam is made from cyclohexane, which can be derived fr...>>>
European PE spot values firm despite easing naphtha: sources Mar 18,2011
Spot values for polyethylene grades in Northwest Europe remained firm this week despite easing naphtha levels, as supply was tight for prompt volumes of many grades, sources said. In the feedstock market, demand for naphtha going east has been weak following last week's disaster in Japan, while the European market has been showing a balanced lon...>>>