Chemical News
-
EMEA: The week ahead in petrochemicals Mar 21,2017
OLEFINS While ethylene and propylene markets are seen tight and their prices bullish, the butadiene market has turned bearish primarily on signals from Asia. European spot ethylene prices are likely to continue trading at a premium to the March contract price as availability remains, tight with a number of crackers offline for maintenance. S...>>>
Global copper market ends 2016 in 50,000 mt deficit: ICSG Mar 21,2017
A 2.5% increase in apparent Chinese demand put the global refined copper market in a 50,000 mt deficit in 2016, according to preliminary data released Monday by the International Copper Study Group. Adjusting for changes in Chinese bonded stocks, the deficit narrowed to about 42,000 mt, the Lisbon-based research group said in a report, adding th...>>>
Venezuela's Unicon wins deal to supply steel pipeline to PDVSA Mar 21,2017
ArcelorMittal's Venezuelan steel pipe unit, Unicon, won a tender to supply pipeline to the country's state-owned oil producer PDVSA, the country's news agency said Monday. Unicon won a tender to provide around 18,000 meters of pipeline for the country's oil industry. No tonnage was provided. "It is part of a plan to increase the participation...>>>
Analysis: Metallurgical coal freight trend amplifies Atlantic/Pacific differences Mar 21,2017
Atlantic met coal buyers may be anticipating sharp falls in pricing for second quarter cargoes after paying a multi-year high under benchmark-related Q1 contracts, but the current freight rate tendency may better support prices for US cargoes. Buyers negotiating with US and European suppliers around references with adoption of Australia FOB-base...>>>
Crush margin tracker: US ethanol crush margin slumps Mar 21,2017
The US ethanol crush margin tumbled to 18.88 cents/gal Monday, a decrease of 4.56 cents/gal or 19.45% from 23.44 cents/gal on March 10, the date of the last published S&P Global Platts Crush Margin Tracker. The benchmark Argo ethanol assessment reversed course over the week, turning bearish amid higher production rates. Weekly US Energy Infor...>>>
Sea change as CIF ARA thermal coal market shifts to bilateral trading Mar 21,2017
An increasing number of physical deals are taking place bilaterally in the CIF ARA and South African Richards Bay thermal coal markets, resulting in a significant shift away from the traditional screen and voice-brokered traded environment, numerous sources told S&P Global Platts Friday. The move was particularly apparent in the CIF ARA market, ...>>>
PRB coal train loadings fall to year-low volumes: railroads Mar 21,2017
Coal train loadings from the Powder River Basin fell 12.8% week on week to drop to year-low totals, US Surface Transportation Board filings showed. Data filed by the four major US railroads -- CSX, Union Pacific, BSNF and Norfolk Southern -- for the week ended March 10 showed PRB coal loadings averaged 51 trains/d, down from 58.5 the previous we...>>>
India seeks to clinch deal for Iranian offshore gas development Mar 21,2017
India is working to finalize a $3 billion deal with Iran on the 18.75 Tcf Farzad B gas field development in the Persian Gulf by September 2017, sources at the oil ministry said Thursday. The confirmation from India came after Iranian oil ministry news service on Monday quoted the managing director of Pars Oil and Gas, Mohammed Fam, as saying the...>>>
100 Spot Commodities Price Chart - 20/03/2017 Mar 21,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,18 commodities increased in prices, 35 fell and 46 remained unchanged on 20/03/2017.The largest rises were Cobalt (1.36%),Nitric acid (1.07%),Zinc (0.93%),while the largest falls were ...>>>
China LPG imports may reach 20 mil mt in 2017 on strong petrochemical demand: Sinopec Mar 22,2017
China's LPG imports are expected to reach around 20 million mt in 2017, supported by continuous strong demand from the petrochemical sector, a senior Sinopec official said at the 22nd China LPG Conference held by the Guangdong Oil and Gas Association in Chengdu, Sichuan province. Senior engineer Tian Chunrong predicted that the country's LPG app...>>>
Exports gain focus ahead of 'teething' in US ethylene, PE: LyondellBasell CEO Mar 22,2017
The upcoming wave of ethylene and polyethylene expansions in the US will bring a period of difficulty to the industry, and exports have increasingly become part of the solution to ease the transition, LyondellBasell CEO Bob Patel said Tuesday. "Exports will play more prominently going forward," Patel said at World Petrochemical Conference 2017 b...>>>
Argentina's 2016 iron ore exports down 45.3% on year Mar 22,2017
Argentina exported 169,849 mt of iron ore fines in 2016, down 45.3% from 2015 when 310,355 mt of fines were exported, customs agency data showed Tuesday. The average export price for the period was $44/mt FOB, while in 2015 it was $35/mt FOB. Australia received 89,251 mt during 2016, while the US received 80,598 mt. Argentina did not expor...>>>
Global zinc market deficit may continue in 2017: analyst Mar 22,2017
The zinc market was in deficit in 2016, even though demand was modest, while fundamentals remain positive and global zinc demand is expected to grow 2.5% in 2017, CRU analyst Helen O'Cleary said Monday. Mine closures and cutbacks led the market into deficit last year, however "producers may require some further restraint in order for the deficit...>>>
Jittery macroeconomic outlook hits Turkish steel scrap import market Mar 22,2017
Wider macroeconomic uncertainty appeared to seep into Turkey's market for imported steel scrap Monday. Late Friday, Moody's Investors Service downgraded the country's rating outlook from stable to negative, citing the erosion of institutional strength, its weaker growth outlook, intensified pressure on the public and external account and the con...>>>
UK biodiesel consumption at near two-year low in Jan, ethanol stable: National Statistics Mar 22,2017
UK biodiesel consumption in January was down 46.4% on the month and 45.5% on the year at 30 million liters, its lowest since March 2015, according to National Statistics data published by the UK government Tuesday. Ethanol consumption in January of 63 million liters was unchanged on the month and up 1.6% compared to January 2016. These trends...>>>
Indian power utilities' Apr 2016-Feb 2017 thermal coal imports fall 20% on year Mar 22,2017
Indian power utilities imported 60.38 million mt of thermal coal over April 2016-February 2017, down almost 20% year on year, according to data released by the Central Electricity Authority, seen by S&P Global Platts Tuesday. The April-February imports registered a growth of 10.8% month on month. Of the total quantity, 18.50 million mt was im...>>>
Kentucky co-op bemoans dearth of Central Appalachian coal bidders Mar 22,2017
As the embattled Central Appalachian coal basin struggles to recover from a multi-year downturn, East Kentucky Power Cooperative, a major utility player in the region, continues to see a dearth of CAPP responses to coal solicitations. Mark Horn, fuel and emissions manager for the Winchester-based generation and transmission co-op, painted a pict...>>>
Mars rallies amid tighter US Gulf Coast sour crude market Mar 22,2017
With crude imports via Louisiana down 5% year on year, according to US customs data, and a tight Colombian Vasconia market, differentials for Gulf Coast sour benchmark Mars have steadily rallied since late November, according to S&P Global Platts data. Platts assessed prompt Mars at WTI minus $1.55/b on Monday, its strongest level since February...>>>
Analysis: Indian refiners set sights on Russian crude oil Mar 22,2017
Two of India's largest refiners, Reliance and the state-owned Indian Oil Corporation, are setting their sights on buying Russian Urals crude as the key export grade shows signs of competing with some Middle Eastern sour barrels, market sources told S&P Global Platts Friday. In what traders are describing as an opportunistic move, the price of Ur...>>>
100 Spot Commodities Price Chart - 21/03/2017 Mar 22,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,16 commodities increased in prices, 41 fell and 42 remained unchanged on 21/03/2017.The largest rises were Chloroform (5.62%),Propylene oxide (1.29%),LPG (0.79%),while the largest fall...>>>