Chemical News
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Rebar and scrap sellers leaving money on the table: LME traders Feb 20,2017
Physical scrap and rebar sellers are currently leaving money on the table judging by the London Metal Exchange's forward curves. Midweek a Benelux-based merchant sold a composite cargo into Turkey for April shipment at around $275-$276/mt CFR normalized to a heavy melting scrap I/II (80:20) basis. On Thursday the LME contract closed at $290...>>>
South African rand's rise pushes up UG2 chromite prices: sources Feb 20,2017
South African rand rising above Rand 13 to the dollar this week from Rand 13.30-13.50 a week earlier is pushing up UG2 chromite prices, market sources said Friday. The disconnect between prices of South African chromite feedstock, which China imports, and Chinese ferrochrome prices is widening and this may force Chinese local ferrochrome produce...>>>
LME aluminum warrants in Asia trading higher, tracking US physical premiums: traders Feb 20,2017
Warrants for aluminum stored in the London Metal Exchange warehouses in Asia are trading at almost twice as high as in end of last year, tracking the US spot physical premiums, traders said Friday. A Japanese trader said he has heard LME aluminum warrants in Southeast Asian warehouses offered, possibly by a bank, at around $45/mt, while another ...>>>
India's NTPC starts production from first captive coal mine Feb 20,2017
India's largest electricity producer state-run NTPC Limited has started production from its Pakri-Barwadih coal mine in Jharkhand state in eastern India as the first installment was dispatched from the mine, the company said in a statement Friday. The first rake of coal has been flagged off Thursday from the mine at Hazaribagh, NTPC said. Ini...>>>
More, higher bids heard in CSAPR market for Seasonal NOx allowances Feb 20,2017
More bids for 2017 Seasonal NOx allowances have been heard in the Cross-State Air Pollution Rule market, which has tightened the spread with offers, sources said this week. A broker reported a $450/st at $500/st bid-offer range Thursday for Seasonal NOx allowances. Another market player said he heard bids this week top out in the $430/st to $440...>>>
Egypt oil production needs 21st century revamp: executive Feb 20,2017
Egypt needs to rethink the joint venture model that has governed its onshore oil industry for the past half century as part of wider reforms to the economy, according to James House, senior region vice president for the country's largest international oil producer, Apache. At a conference in Cairo this week, House told journalists Apache would i...>>>
WTI at Midland, Texas, tumbles 45 cents/b on host of regional infrastructure issues Feb 20,2017
West Texas Intermediate light sweet crude oil at Midland, Texas, fell Thursday by its largest amount since mid-December on market talk of reduced rates and/or unit outages at two regional refineries and a pipeline. March-delivered WTI at Midland ended the day at March cash WTI plus 10 cents/b, down 45 cents/b from Wednesday and the largest singl...>>>
100 Spot Commodities Price Chart - 17/02/2017 Feb 20,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,22 commodities increased in prices, 27 fell and 50 remained unchanged on 17/02/2017.The largest rises were Asphalt (1.44%),Methanol (1.41%),Wood pulp (1.00%),while the largest falls we...>>>
China suspends import of North Korean anthracite coal, effective Feb 19 Feb 21,2017
China has suspended all imports of anthracite coal from North Korea, starting February 19, according to a statement published by the country's ministry of commerce on its website last Saturday, a move which could provide support for prices of the steelmaking raw material in both domestic and export markets. In the statement, China's commerce min...>>>
Formosa Plastics USA latest US producer to increase caustic soda prices Feb 21,2017
Formosa Plastics USA said Friday it would raise caustic soda prices by $85/dry st, becoming the latest US seller to increase prices, according to a letter to customers obtained by S&P Global Platts. The increase will go in immediately, or as contract terms permit, the letter said. Formosa also told customers it is maintaining its 100% order a...>>>
Japan's Dec ethylene, derivatives exports rise 2% on month: METI Feb 21,2017
Japan's ethylene and ethylene derivatives exports in December rose 2.2% from a month earlier to 211,200 ethylene equivalent tons, or EET, the Ministry of Economy, Trade and Industry said in a statement late Friday. From a year earlier, the exports showed a 10.9% increase, it said. Meanwhile, Japan's ethylene and ethylene derivatives imports...>>>
Russia's Rusal offers Q2 Japan aluminum premium of $125/mt plus LME Feb 21,2017
Russian aluminum producer Rusal told Japanese aluminum buyers via an email Monday that it sees the appropriate second quarter contract premium to be $125/mt plus London Metal Exchange cash CIF Japan, market sources said. The $125/mt premium is a hike of 32% from Q1's $95/mt plus LME cash CIF Japan for Q1. Japanese buyers said they were waitin...>>>
Freeport Indonesia raises arbitration, damages in mining contract dispute Feb 21,2017
Freeport Indonesia expects the dispute over a ban on concentrate exports from its Grasberg copper mine to be resolved but reserves the right to commence arbitration to enforce its contract and seek damages, CEO Freeport-McMoRan president and CED Richard C. Adkerson said Monday. The Indonesian government banned the export of concentrates in mid-J...>>>
Net long gold COMEX positions cut 9% to four-week low: CFTC Feb 21,2017
Net long gold positions on US commodity exchange COMEX fell 9% to 63,625 contracts in the week to February 14, Commodity Futures Trading Commission data showed Monday. It was the first cut in net length for six weeks and reduces bullish positions to a four-week low, but are still up overall around 50% since the start of the year, reflecting gold...>>>
CAPP prompt market still but utilities talking larger-volume coal deals Feb 21,2017
Prompt demand is still lacking for Central Appalachian term coal, but utilities have made and are talking about securing deals for later this year and 2018. AEP has already awarded its RFP issued early this month that included up to 500,000 st of CAPP barge coal for April through September delivery and up to 1.5 million st of barge coal for 2018...>>>
South African coal miners look to domestic market for higher prices Feb 21,2017
South African thermal coal miners are looking increasingly at the domestic market, with inland consumers more willing to pay higher prices than buyers in the export market and shipments out of the country falling, according to market sources. S&P Global Platts assessed the FOB price of Richards Bay physical thermal coal basis 5,500 kcal/kg NAR a...>>>
Nigerian Forcados crude export terminal could restart in few weeks: oil minister Feb 21,2017
Nigeria's major oil export terminal, Forcados, which has been the casualty of militant attacks, could restart in a matter of weeks, oil minister Emmanuel Kachikwu said Wednesday. But this contradicts recent statements from Nigerian Petroleum Development Company, which is the operator of the Trans Forcados pipeline, which said that the pipeline w...>>>
Analysis: Asian buying of Atlantic Basin crudes spikes on aligning factors Feb 21,2017
Buying of Atlantic Basin crudes by Asian buyers -- particularly in China -- has spiked since the beginning of 2017 on a confluence of factors that include the OPEC production cuts and subsequent narrowing of the Brent/Dubai Exchange of Futures for Swaps, lower freight rates and strong refining margins. The front-month Brent/Dubai EFS -- which sh...>>>
100 Spot Commodities Price Chart - 20/02/2017 Feb 21,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,25 commodities increased in prices, 28 fell and 46 remained unchanged on 20/02/2017.The largest rises were Cobalt (4.63%),Rebar (3.36%),Steel I bean (1.88%),while the largest falls wer...>>>
Russia's Gazprom eyes benefit from slowdown in LNG project investment Nov 26,2020
The board of Russian gas giant Gazprom sees an opportunity for the company to benefit from the slowdown in new LNG export project developments in the longer term, the company said Nov. 25. In a statement, Gazprom said its board in a meeting also noted that Russia had significant gas resources that would enable it to increase the country's LNG pr...>>>