Chemical News
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US' biofuel agreement sends EU biodiesel premiums soaring; ethanol unfazed Mar 03,2017
European biodiesel premiums soared Tuesday following reports that a deal was struck to adjust the US' Renewable Fuel Standard in exchange for a waiver to allow year-round sales of gasoline blended with 15% ethanol. European ethanol prices were little affected, despite rallying US ethanol and grains prices, and the T2 FOB Rotterdam price fell Eur...>>>
Coal India misses Apr-Feb output target Mar 03,2017
India's state-run Coal India Ltd has clocked an output of 488.06 million mt for April 2016-February 2017, as against the target of 535.38 million mt, the company said in a regulatory filing to the Bombay Stock Exchange late Wednesday evening. However, the output for the 11-month period was up 2% year on year. Coal India's offtake volume for t...>>>
100 Spot Commodities Price Chart - 02/03/2017 Mar 03,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,20 commodities increased in prices, 26 fell and 53 remained unchanged on 02/03/2017.The largest rises were Zinc (1.90%),Lead ingot (1.48%),Propylene oxide (1.03%),while the largest fal...>>>
China to cut steel capacity by 50 mln tonnes, coal by 150 mln tonnes Mar 06,2017
China will push its drive to cut overcapacity in bloated sectors, with targets to slash steel production capacity by around 50 million tonnes and coal by at least 150 million tonnes this year, according to a government work report available to the media Sunday morning ahead of the annual parliamentary session. The report pledged to make more us...>>>
Trio of US IPA suppliers announce 5 cents/lb increase for midmonth Mar 06,2017
A group of US isopropyl alcohol suppliers have announced increases of 5 cents/lb to take effect in the middle of the month, the companies said in letters to customers. Dow Chemical, LyondellBasell and Monument Chemical plan to raise US IPA pricing by 5 cents/lb effective March 15, the companies said in letters seen by S&P Global Platts on Friday...>>>
LyondellBasell extends force majeure to all polypropylene from Italian Brindisi: source Mar 06,2017
LyondellBasell has extended its force majeure declaration on "Hostalen" polypropylene from its Brindisi, Italy plant to include all grades of polypropylene from the plant, a PP buyer who had received a letter to that effect from the company said Friday. Force majeure on the "Hostalen" grade was declared in the first week of February. Producti...>>>
2-ethyl hexanol margin flips to positive, hits 11-month high on tight supply in NE Asia Mar 06,2017
The production margin for 2-ethyl hexanol flipped to positive and hit an 11-month high Thursday on extremely tight spot supply in Northeast Asia. The margin to make 2-EH was calculated at $64/mt at the Asian market close Thursday, reversing the generally negative margins seen since the start of the year. The last time the 2-EH margin was high...>>>
Gold to remain under pressure next week on early US rate hike: survey Mar 06,2017
Gold is expected to remain under pressure next week, respondents to the S&P Global Platts Gold Sentiment Survey said Friday, on the increasing possibility of a March lift in US interest rates, sooner than previously expected. Having hit 3 1/2-month highs at the beginning of the week above $1,260/oz, spot gold was down around $10 on the day to a ...>>>
Brazil February semi-finished exports jump 26.9.7% on year Mar 06,2017
Brazilian exports of semi-finished steel in February jumped 26.9% year over year to 822,600 mt, Ministry of Development and Trade data showed Friday. Revenue from these goods grew 82.4% to $309.2 million FOB. In February 2016, exports were 648,100 mt and revenue was $169.5 million FOB. The average price of semis rose 43.7% to $375.9/mt FOB. I...>>>
Peru rebar output in December up 0.8% year on year to 91,527 mt Mar 06,2017
Peruvian steelmakers produced 91,527 mt of rebar in December, up 0.8% year on year, National Institute of Statistics (Inei) data showed Friday. On a month-on-month basis, rebar production increased 2.6% from 89,210 mt in November, the Inei data showed. In 2016, Peruvian steelmakers produced 1.13 million mt of rebar, up 4.8%. Shipments incr...>>>
Asia ferrochrome: Chinese output cuts, strong demand push prices higher Mar 06,2017
Tightening supplies of high-carbon ferrochrome in south China, as well as high run rates at Chinese stainless steel plants have pushed up spot import prices, market sources said Friday. Ferrochrome output in Sichuan and Guizhou provinces has stayed low after the Lunar New Year holidays due to higher costs of power and chromite feedstock, sources...>>>
Japan's aluminum premiums rise to $100-$115/mt CIF on more buyers Mar 06,2017
Japan spot aluminum premiums rose to $100-$115/mt plus London Metal Exchange cash CIF Japan on Friday, from $95-$115/mt plus LME cash CIF Japan on Thursday on more buyers. A few Japanese buyers were in the market this week seeking spot April cargoes, but one producer said he had turned them down. The buyers expected aluminum premiums to be hi...>>>
AEP says 2016 coal costs at regulated plants rose 56 cents on year Mar 06,2017
American Electric Power experienced a slight increase in coal costs in 2016 at its regulated utilities and its system-wide coal inventory was above target levels as of December 31, according to a regulatory filing. The Columbus, Ohio-based company said in a Wednesday filing with the US Securities and Exchange Commission that its regulated subsid...>>>
100 Spot Commodities Price Chart - 03/03/2017 Mar 06,2017
It was assessed by SunSirs that in the tracked 100 spot commodities, 14 commodities increased in prices, 37 fell and 48 remained unchanged on 03/03/2017. The largest rises were Chloroform (2.38%), Sulfuric acid (1.38%), Dried cocoons (0.43%), while the...>>>
China ups the ante for cutting coal production, overcapacity Mar 07,2017
China plans to cut 50 million tons of steel capacity and 150 million tons of coal production this year, according to the draft plan for national economic and social development released on Sunday. China plans on extending cuts in overcapacity efforts to even more sectors, according to the plan. China also vows to halt 50 gigawatts of capacity...>>>
Colombia's Ecopetrol hikes 2016 LDPE output to record 55,600 mt Mar 07,2017
Colombia's state-owned Ecopetrol produced a record 55,6000 mt of low-density polyethylene in 2016, a company executive said Monday during a fourth-quarter earnings call. "We had our highest production ever," VP Adolfo Tomas Hernandez said. Colombia's sole producer of LDPE, Ecopetrol's Barrancabermeja plant, has a nameplate capacity of 60,000 ...>>>
Turkey's Petkim raises high density polyethylene injection, blowmolding, PVC prices Mar 07,2017
Turkey's Petkim has raised list prices for high density injection, blowmolding and polyvinyl chloride due to increased demand and more limited availability, a source close to the company said Monday. HDPE injection and blowmolding were listed $20/mt higher at $1,420/mt and $1,415/mt respectively. PVC K67 prices were listed $20/mt higher at $1...>>>
Taiwan's Formosa delays works at No.3 styrene monomer plant after blast at No.1 unit Mar 07,2017
Taiwan's Formosa Chemicals & Fibre Corp has postponed the planned shutdown of its 350,000 mt/year No 3 styrene monomer plant at Mailiao to May or June following a blast at its No 1 SM plant Monday, which injured four employees, a company source said. The No. 3 SM plant was originally scheduled for a month-long turnaround for maintenance in April...>>>
Steel CRC prices move up in US, while HRC remains firm Mar 07,2017
Prices for cold-rolled coil were higher in the US to start the week on Monday, sources said, as hot-rolled coil prices remained firm as buyers waited on another price increase from domestic mills. Quotes for HRC were anywhere between $640-$660/st, according to one mill source. The move to $640/st was "rapidly enforced" following mill price incre...>>>
Striking Escondida copper workers stand firm as pressure builds Mar 07,2017
The union leading a 26-day-old strike at the Escondida copper mine in northern Chile, the world's largest, vowed Monday to continue with the protest for as long as it takes, even as pressure builds for them to end the standoff. "We have said we will strike for 60 days or longer," No. 1 Workers Union spokesman Carlos Allendes told journalists in ...>>>