Chemical News
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Japan's JX, S Korea's SKGC nominate Mar PX ACPs higher than Feb's settle Feb 23,2017
Japan's JX Nippon Oil & Energy has nominated its March paraxylene Asia Contract Price at $980/mt CFR, while South Korea's SK Global Chemical nominated its March PX ACP at $970/mt CFR, sources close to the respective companies said Wednesday. The nominations are up from the major settlement in February at $900/mt CFR. There are five PX ACP sel...>>>
Steel sheet market in US securing footing amid price increases Feb 23,2017
The US sheet market remained focused on firming prices ahead of bullish March scrap sentiment, with another round of increases anticipated after scrap settles, sources said Wednesday. ArcelorMittal USA reasserted its price positions for March-April hot-rolled coil and April-early May cold-rolled coil and coated production. Minimum base prices we...>>>
Peru's El Brocal boosts Q4 2016 copper, zinc output Feb 23,2017
Peruvian metals producer Minera El Brocal increased copper and zinc output in the fourth quarter after bringing online a $473 million expansion of its concentrator plant, the company said Wednesday. Copper concentrates production rose 35% year on year to 53,472 mt in the quarter, while zinc gained 38% to 40,309 mt, and lead fell 22% to 9,931 mt,...>>>
Japanese, East Asia HMS ferrous scrap prices rise further Feb 23,2017
Japanese ferrous scrap export prices are continuing to increase following rising overseas scrap prices, trading sources in Tokyo and Seoul said. S&P Global Platts assessed the H2 scrap export price at Yen 28,500-29,000/mt ($251-256/mt) FOB Tokyo Bay Wednesday. The implied midpoint of Yen 28,750/mt FOB was up Yen 3,000/mt from last week's midpoin...>>>
Taiwan 2016 thermal coal imports down 2% on year to 65.32 mil mt Feb 23,2017
Taiwan imported 65.32 million mt of thermal coal in 2016, down 2% on the year to the lowest annual volume since 2012, as shipments from Indonesia and Russia dropped, customs data showed Wednesday. Of the total, 64.08 million mt was bituminous coal and the remaining 1.24 million mt was sub-bituminous. Imports of Indonesian thermal coal fell 18...>>>
OPEC/non-OPEC oil cut compliance to rise in coming months: Barkindo Feb 23,2017
OPEC Secretary General Mohammed Barkindo Tuesday said any decision to extend a landmark oil production cut agreement past June will depend on global stock levels and an assessment of market fundamentals. Speaking at a news conference during the International Petroleum Week conference in London, Barkindo did not rule out further cuts, if necessar...>>>
Canada's Trans Mountain crude oil pipeline oversubscribed by 25% in March Feb 23,2017
Kinder Morgan Canada will limit crude nominations on its Trans Mountain pipeline system by 25% in March, meaning the line will only carry 75% of nominated volumes, the company said Tuesday. March volumes on the Trans Mountain mainline system are expected to average 296,105 b/d, down from 326,280 b/d in February, Kinder Morgan said in an email. ...>>>
100 Spot Commodities Price Chart - 22/02/2017 Feb 23,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,14 commodities increased in prices, 45 fell and 40 remained unchanged on 22/02/2017.The largest rises were Iron ore (1.87%),Acetic acid (1.33%),Asphalt (1.00%),while the largest falls ...>>>
Sinopec raises orthoxylene ex-works offers in East China by Yuan 200 to Yuan 7,300/mt Feb 24,2017
China Petroleum and Chemical Corporation, or Sinopec, subsidiaries raised ex-works orthoxylene offers in East China by Yuan 200/mt Wednesday, the second increase this year, a source close to the matter said Thursday. Yangzi-BASF and Sinopec Zhenhai, the company's subsidiaries in East China, are currently offering OX at Yuan 7,300/mt, equivalent ...>>>
Shintech raising US caustic soda prices by $60/dst: source Feb 24,2017
US-based Shintech will raise caustic soda prices by $60/dry st, becoming the latest US producer to increase prices, a source with knowledge of company operations said Thursday. Earlier this month, other producers -- including Formosa Plastics USA, Occidental Chemical, Westlake Chemical and Olin -- announced increases ranging from $60-$85/dst, ac...>>>
Q2 European methanol contract price seen at least 10% higher than Q1 CP Feb 24,2017
A cocktail of factors including methanol spot prices at multi-year highs in Europe, indications from Asia, and tight logistics has led to expectations the second-quarter contract price will be at least 10% higher than the first quarter. Estimates by traders of the second-quarter contract price ranged from Eur390-440/mt ($411/$464/mt) FOB Rotterd...>>>
American steelmakers ready to supply pipeline projects: US Steel's Longhi Feb 24,2017
American steelmakers are prepared to supply the steel pipe needed for domestic pipeline projects, US Steel CEO Mario Longhi said Thursday following a meeting with President Donald Trump at the White House. "We've been making pipe in this country since the early stages of the past century in this country and the industry is certainly capable of p...>>>
Nickel demand exceeded supply by around 100,000 mt in 2016: Glencore Feb 24,2017
Global nickel consumption exceeded supply by around 100,000 mt in 2016, Glencore said Thursday in its preliminary annual results statement. "Nickel supply continued to fall in 2016 with further shutdowns (BCL, Tati, Votorantim, Mirabella), and lower nickel unit exports (in ore) from the Philippines all driving a fall in projected nickel output t...>>>
German 2016 biodiesel blending falls to 5.61% from 5.83%; ethanol up Feb 24,2017
The German biodiesel blending rate fell to 5.61% in 2016 from 5.83% in 2015 and ethanol blending rose to 5.78% from 5.73%, preliminary data published Thursday by German export agency BAFA show. This came as total consumption of FAME and hydrotreated vegetable oil increased 0.5% on the year in 2016 to 2.15 million mt. The blending rate fell becau...>>>
Renewable, nuclear subsidies growing concern for coal industry: Dynegy exec Feb 24,2017
Subsidies for renewable and even nuclear generation are an increasing concern for the US thermal coal industry, Rob Hardman, vice president of fuel supply at Dynegy, said Thursday at the World Trade & Transport Conference in New Orleans, Louisiana. During a fuel buyers panel discussion, Hardman said coal burn continues to threatened by zero-emis...>>>
Seaborne thermal coal market to see supply dearth by 2030: Noble Group Feb 24,2017
Demand for seaborne thermal coal is expected to exceed supply by about 400 million mt by 2030, with new coal-fired electricity capacities coming onstream, according to Noble Group. The trading company has estimated that the largest growth in demand would be from additional planned power generation capacities in Southeast Asia, which would reach ...>>>
Rare cargo of US MTBE headed to Mexico: sources Feb 24,2017
A cargo of US-produced MTBE was bound for Mexico Wednesday, for just the second time this year, sources said. Fixtures for MTBE are not often seen on the spot market, a source with a shipbroker said. MTBE is primarily used as a blending agent in gasoline to increase the octane level. However, since the product is banned in the US due to envi...>>>
Analysis: Diesel, gasoline face ripple effects of India's demonetization Feb 24,2017
India's gasoline demand moved into negative territory in January, posting its lowest growth in four months as the cash shortage following the government's move last year to demonetize 80% of the country's legal currency kept a lid on consumption of transport fuels and sales of two-wheelers. While gasoline consumption was a shade lower year on ye...>>>
100 Spot Commodities Price Chart - 23/02/2017 Feb 24,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,9 commodities increased in prices, 34 fell and 56 remained unchanged on 23/02/2017.The largest rises were Acetic acid (1.09%),Polysilicon (1.01%),Titanium Dioxide (0.62%),while the lar...>>>
Italy's Snam to boost capex 14% with 'hydrogen-ready' focus Nov 26,2020
Italian gas infrastructure operator Snam said Nov. 25 it would increase its capital expenditure by 14% through 2024 as it continues to shift its focus toward preparing for a hydrogen economy, among other decarbonization projects. The company said total investment will be Eur7.4 billion in the 2020-2024 period, of which Eur6.7 billion will be sp...>>>