Chemical News
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Talk of iron ore ramp-up in China is spooking market, conference hears Mar 30,2017
The specter of Chinese domestic iron ore output ramping up this year in response to higher prices, and subsequently putting downward pressure on seaborne prices, was a major talking point at Australia's flagship iron ore conference Wednesday. Rio Tinto managing director, planning integration and assets, Kellie Parker, said the prospect of China ...>>>
AFPM 2017: Total, Nova, Borealis JV cracker timeline too aggressive: sources Mar 30,2017
The 2020 startup date for the proposed Total Petrochemicals & Refining USA, Nova Chemicals and Borealis steam cracker and polyethylene plant in Texas is too ambitious, sources said this week. "That's pretty fast," a plastics logistics executive said on the sidelines of the American Fuel & Petrochemical Manufacturers' International Petrochemical ...>>>
NWE propylene April contract price initially settles at Eur880/mt, up Eur15/mt Mar 30,2017
The Northwest European propylene contract price for April initially settled late Tuesday at Eur880/mt ($950/mt) FD, up Eur15 on the month. Buyer Ducor confirmed a settlement with seller Shell on Wednesday. Shell wasn't immediately available to comment. Although the propylene market remains tight, a decrease in feedstock propylene spot prices ...>>>
SGX launches Platts-based paraxylene-naphtha, benzene-naphtha derivatives instruments Mar 30,2017
The Singapore Exchange (SGX) Monday launched benzene-naphtha derivatives and paraxylene-naphtha derivatives indexed against S&P Global Platts markers, an SGX spokesman said. The benzene/paraxylene spread derivatives will be cash-settled using the arithmetic difference between the final settlement prices of the SGX Platts benzene FOB Korea/para...>>>
US Commerce starts duty investigations for silicon metal imports Mar 30,2017
The US Department of Commerce on Wednesday initiated antidumping and countervailing duty investigations of certain silicon metal imports, following a petition from Globe Specialty Metals, a subsidiary of Ferroglobe. Globe filed the petition March 8 alleging silicon was being dumped and unfairly subsidized in the US market. Commerce initiated ant...>>>
Gerdau sets 50% joint venture in Colombian operations Mar 30,2017
Gerdau Colombia announced a joint venture with Putney Capital Management after selling 50% of its assets in its longs mill Gerdau Diaco, the company said Wednesday. The joint venture transaction was valued at $165 million, Gerdau said in a statement. "The completion of the transaction still depends on the parties' compliance with some previ...>>>
Anglo American's Parker says mining in for 'transformation, big changes' Mar 30,2017
More change is on the horizon for global mining companies, a market that's seen its share of flux and volatility in recent years, outgoing Anglo American Chairman John Parker said Wednesday. Parker, speaking during the Financial Times Commodities Global Summit in Lausanne, Switzerland, said the industry has been somewhat slow to embrace digitiza...>>>
Weekly US coal carload volumes climb to curb recent skid: AAR Mar 30,2017
Total US coal carload volumes have showed some recovery after declining in consecutive weeks, railroad and Association of American Railroads data showed Wednesday. For the week ending March 25, the AAR reported 79,422 coal carloads traveled US railways, up 3% from the previous week and up 19.8% from the year-ago week. Counts had dropped about 8,...>>>
Tropical Cyclone Debbie smashes into Australian Queensland's coal industry Mar 30,2017
The coal industry in Australia's Queensland state was hit hard by Tropical Cyclone Debbie on Tuesday, and with heavy rains expected to continue for the coming days, it is too early to tell exactly how bad the damage is, a spokeswoman for the Queensland Resources Council said Wednesday. "It is likely the Bowen Basin will still see three to five d...>>>
Mining at B&N Coal's new Ohio mine expected to start this summer Mar 30,2017
Northern Appalachian thermal coal producer B&N Coal expects to receive final regulatory approvals in about a month for its new Whigville surface operation in Noble County, Ohio, with production set to start this summer, a company official said Monday. "We're in the final review stage" for a permit from the Ohio Division of Mineral Resources Mana...>>>
100 Spot Commodities Price Chart - 29/03/2017 Mar 30,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,20 commodities increased in prices, 24 fell and 55 remained unchanged on 29/03/2017.The largest rises were Zinc (1.59%),Copper (1.18%),Coke (0.99%),while the largest falls were PA6 (>>>
China likely to keep oil product exports steady to lower in H1 2017: sources Mar 31,2017
China is highly likely to restrict oil product exports in the first half of 2017 to flat or below H1 2016 levels amid growing focus on pollution control, curbing excess capacity and international trade flows, sources with knowledge of the matter said this week. The total export quota for the second quarter was likely to be calculated based on th...>>>
SCC cuts April North American methanol CP by 13 cents to 132 cents/gal Mar 31,2017
Southern Chemical Corp will reduce its April North American posted methanol contract price by 13 cents/gal, to 132 cents/gal FOB USG, the company said Thursday. The April price falls from the company's highest posted contract price since November 2014. Market sources expected April contract pricing to come lower due to softer spot pricing sin...>>>
Turkish polypropylene falls further ahead of key constitutional referendum Mar 31,2017
Turkish polypropylene spot prices have fallen for the fourth consecutive week as buying appetite has faltered ahead of the country's April 16 constitutional referendum, sources said this week. Prices were assessed Wednesday at $1,212/mt CFR Turkey, down $6/mt on the week. One source said the uncertainty surrounding the referendum was the main...>>>
India's polyethylene terephthalate demand growth over next five years to outpace global rise: RIL Mar 31,2017
India's polyethylene terephthalate demand is expected to rise at a compound annual growth rate of 12%-14% over the next five years on the back of strong economic and population growth -- far outpacing the expected growth of 4%-5% in global demand, said a company official at Reliance Industries Limited. The fast pace in India's demand growth is a...>>>
US sheet steel mills hold prices but buyers hit pause Mar 31,2017
US sheet steel mills continue to quote hot-rolled coil prices at around $660/st, but buyers have taken a break from placing spot orders, market sources said Thursday. A service center source said that "asking prices" from his suppliers have been at $660/st and galvanized substrate prices have been steady at $860/st. He has not purchased any stee...>>>
Sharp fall in value of rand adds to pressure on platinum, palladium prices Mar 31,2017
Sharp falls in the value of the South African rand has added to pressure on palladium and platinum prices this week, lowering costs for mining companies operating in the world's largest producer, which could lead to a rise in production. Although having recovered just over 0.50% in early trade Thursday, the rand has lost over 5% against the doll...>>>
South Africa's Bushveld agrees funding for Vametco vanadium buy Mar 31,2017
Bushveld Minerals has signed the final elements of the financing agreements with Barak Fund SPC Ltd for the acquisition by its Bushveld Vametco unit of a 78.8% interest in South African vanadium producer Strategic Minerals Corp, the company said Thursday. The financing deal comprises a bridge loan facility of up to $11 million, repayable within ...>>>
Chile Feb copper output drops 17% on year to 376,948 mt as Escondida strike hits Mar 31,2017
Chile produced 376,948 mt of copper in February, down 16.7% year on year and the lowest monthly figure for exports in almost six years, government figures showed Thursday. The drop largely reflects the effect of a prolonged strike at the BHP Billiton-controlled Escondida mine, the world's largest copper operation, statistics institute INE said. ...>>>
Asia ferrosilicon: Spot offers rise on Chinese domestic prices Mar 31,2017
Spot offers for 75% Si ferrosilicon in Asia rose this week as some Chinese domestic offers showed no sign of easing on tightening spot supplies, industry sources said Thursday. S&P Global Platts assessed the Chinese 75% Si ferrosilicon at $1,140-$1,160/mt FOB China Thursday, up from $1,100-1,150/mt last Thursday. Platts assessment of the spot...>>>