Chemical News
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S&P Global Ratings raises copper, aluminum price forecasts Apr 12,2017
S&P Global Ratings has raised its 2017-2018 forecasts for copper and aluminum due to production curtailments, steady industrial demand and continued Chinese growth seen so far this year. S&P Ratings analysts now expect aluminum to average $1,800/mt for the rest of 2017 and $1,800 in 2018 compared with $1,650 and $1,650, respectively. Copper i...>>>
Japanese scrap prices fall in monthly auction Apr 12,2017
The highest bid in Tuesday's monthly auction for Japanese H2 grade ferrous scrap for export from Tokyo Bay by end-May, fell by Yen 3,788/mt ($34/mt) from last month's winning bid to Yen 27,380/mt ($247/mt) free alongside ship, the organizer said. The auction attracted 17 bids for a total of 118,200 mt of scrap with the average being Yen 26,426/m...>>>
Brazilian hydrous ethanol price falls for 10th consecutive week: ANP Apr 12,2017
Hydrous ethanol prices at the pump in southeastern Brazil declined for 10th consecutive week in the most recent reporting period, the National Petroleum Agency said Tuesday. Hydrous prices over the April 2-8 period on average represented 70.8% of the gasoline price, compared with 71.2% the week before. Hydrous prices averaged Real 2.55/liter ...>>>
Norfolk Southern committed to invest in coal 'when the volumes come on': CMO Apr 12,2017
Coal will remain an integral part of Norfolk Southern ahead as the railroad adjusts to a commodity that's future is "more dynamic and more uncertain," Chief Marketing Officer Alan Shaw said Tuesday. In a keynote address at the National Coal Transportation Association's Spring Conference, Shaw said that while NS has made cuts to its Central Appal...>>>
100 Spot Commodities Price Chart - 10/04/2017 Apr 12,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,32 commodities increased in prices, 32 fell and 35 remained unchanged on 10/04/2017.The largest rises were Benzene (3.39%),Gasoline (3.06%),Aniline (2.24%),while the largest falls were...>>>
China's 2017 thermal imports to surge by 30 million mt over 2016: Noble Apr 13,2017
China's thermal total coal import in 2017 is expected to surge by about 30 million mt over that in 2016, on the back increasing power generation, according to Noble Group. "The fundamentals in the coal market changed last year," Rodrigo Echeverri, head of Noble Group's energy coal analysis, said at the Coaltrans Conference in Shanghai on Monday...>>>
Ineos restarts Chocolate Bayou, Texas steam cracker: sources Apr 13,2017
Petrochemicals producer Ineos Olefins & Polymers USA restarted the No 2 steam cracker at its Chocolate Bayou olefins plant in Alvin, Texas, last weekend after unscheduled maintenance, sources said Wednesday. The unplanned outage at the 900,000 mt/year unit, which resulted from a turbine issue, started on March 17, sources said. A company spok...>>>
EU styrene premium to feedstocks plummet to six-month low threatening operating rates: market sources Apr 13,2017
European styrene's premium to feedstocks -- ethylene and benzene -- has plunged to a six-month low this week, which could lead to a reduction in operating rates at styrene units, according to S&P Global Platts data and market sources. The styrene spot price was assessed Tuesday at $1,166/mt FOB ARA, down $4/mt on the day, while benzene spot was ...>>>
US sheet steel buyers avoid building inventory amid fears of price erosion Apr 13,2017
Sheet steel buyers in the US remain hesitant to build inventory, as market sources said Wednesday that buyers see prices at a peak or even starting to slide. "People are only buying what they have [purchase orders] for," a trader said regarding domestic sheet. "Nobody at these price levels is putting stock on the floor." The only thing that ...>>>
Iran leaves steel import, iron ore export duties unchanged despite pledges Apr 13,2017
Iran did not make any change in its import duty for steel and export duty for iron ore, despite previous announcements, according to the latest annual import-export regulations published by the country's customs authority. In December 2016, the deputy minister of industry, mines and trade Jafar Sargheini announced that the government had approve...>>>
European RME premium at over 20-month low; FAME 0 at over 16-month low Apr 13,2017
The European RME premium over front-month ICE gasoil fell to an over 20-month low Tuesday of $385/mt, down $19.75 from Monday, as FAME 0 slipped to an over 16-month low of $368/mt on high stocks and falling benchmark vegetable oil prices. European stocks of both RME and FAME 0 have remained high in recent weeks, sources said. Front-month CBOT...>>>
Arch looking to cash in on surging high-vol A export prices: CEO Apr 13,2017
By leveraging its large-output, high-vol A mines, Arch Coal is better positioned to take advantage of the latest surge in metallurgical export prices than most US miners, the company's CEO said Wednesday at the Coal Transportation Association's Spring Conference. In his presentation, John Eaves highlighted the dramatic price increases seen off t...>>>
Options lose market share in ICE cleared thermal coal derivatives market Apr 13,2017
The volume of thermal coal traded and cleared on the ICE Futures platform reached a 2017 high in March, gaining 20.9% month on month to reach 165.26 million mt, data from energy exchange ICE Futures Europe and electronic trading platform globalCOAL showed late Tuesday. Options had lost some market share, however, as March's total cleared derivat...>>>
India's Tata Power to seek coal from countries other than Indonesia after court order Apr 13,2017
Indian private sector power producer Tata Power will consider sourcing coal from countries other than Indonesia, to address under recovery at its imported coal based 4,000 MW ultra mega power plant at Mundra, in western India's Gujarat state, the company said Tuesday. The Supreme Court of India set aside the previous favorable order of the Appel...>>>
Analysis: Iranian oil exports dip in March, floating storage almost cleared Apr 13,2017
Iran's crude oil and condensate exports in March fell slightly from the previous month as refinery runs picked up but the OPEC producer has managed to clear almost all of its oil in floating storage. Iran, which is allowed special status to increase output slightly under the recent OPEC deal, could be switching its focus to improving returns for...>>>
100 Spot Commodities Price Chart - 11/04/2017 Apr 13,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,22 commodities increased in prices, 44 fell and 33 remained unchanged on 11/04/2017.The largest rises were Aniline (1.89%),Gasoline (1.68%),Toluene (1.51%),while the largest falls were...>>>
China's steel exports rise 31% to 7.56 mil mt in March Apr 14,2017
China exported 7.56 million mt of steel in March, rebounding 31% from a three-year low in February but still 24% lower year on year, preliminary data released Thursday by the General Administration of Customs showed. The gain reverses three straight months of decline in exports since December, mainly due to Chinese steelmakers selling in the do...>>>
Formosa shuts PVC unit at Point Comfort, Texas complex: filing Apr 14,2017
Formosa Plastics USA shut a polyvinyl chloride line at its Point Comfort, Texas, plant following a line leak, the company said in a filing Thursday. The unit was taken offline Wednesday following a leak in a 3-inch-diameter degas line, according to a filing with the Texas Commission on Environmental Quality. The event ended Thursday, and include...>>>
European polystyrene buyers may hold off purchases until May on bearish feedstock: sources Apr 14,2017
European polystyrene buyers may be holding off purchases until May, defying initial expectations of a pick up in April demand, as low styrene prices led to a bearish outlook for May prices, sources said this week. Despite a flurry of inquiries reported at the beginning of April, buy interest for GPPS was heard subsiding this week as buyers remai...>>>
Chile to produce 5.6 mil mt of copper in 2017, Escondida strike costs 180,000 mt Apr 14,2017
Chile will produce just under 5.6 million mt of copper this year, up 0.8% from 2016, as the recent strike at the giant Escondida mine wiped out much of an expected increase in mine output, the Chilean Copper Commission (Cochilco) said Thursday. Cochilco head Sergio Hernandez said the 43-day strike had reduced production by 180,000 mt compared wi...>>>