Chemical News
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Turkey ferrous scrap imports softer as steel mills remain shuttered Apr 14,2017
Turkey faced another day of silence in the ferrous scrap market, with most sources pointing to the coming constitutional referendum on Sunday as the cause. Prices appeared softer, due to a lack of demand from Turkish mills. "Turkey is dead. There is no scrap market. They are waiting for the referendum (result) on Monday so no buying or selling i...>>>
Chicago ethanol market at four-month high as turnarounds trim output Apr 14,2017
The Chicago paper ethanol market climbed Thursday to a four-month high, as maintenance season trimmed production rates while stocks fell. The front-month Chicago ethanol swap was heard trading as high as $1.6850/gal in the morning. Thursday's trade was the highest level for the swap since S&P Global Platts assessed it at $1.73/gal on December 13...>>>
Weekly US coal production estimate drops to lowest level of year: EIA Apr 14,2017
Weekly US coal production totaled an estimated 13.77 million st in the week that ended Saturday, down 5% from the prior week but up 19.9% from the same week a year ago, US Energy Information Administration data showed Thursday. It was the lowest weekly estimate so far this year, coming in just below the Week 1 estimate of 13.78 million st. Th...>>>
Turkey thermal coal prices under pressure from low power demand Apr 14,2017
Spot prices of thermal coal delivered into the Turkish market lost some ground this week, sliding in tandem with movements in the European market as values continued to seesaw on limited trade indications. S&P Global Platts assessed the weekly CIF Turkey 6,000 kcal/kg NAR 90-day price at $82/mt Friday, losing $1 on the week. Several sou...>>>
Australia's Abbot Point Coal Terminal to receive first coal train Thursday since closure Apr 14,2017
The Abbot Point Coal Terminal in North Queensland, Australia, is due to receive its first coal train on Thursday afternoon, Australian time, since it closed due to Cyclone Debbie in late March, a spokesman for terminal owner Adani told S&P Global Platts on Thursday. The first train, which comes via the Newlands line, will arrive at 16:00 AEST, h...>>>
Analysis: S Korea looks towards US, Russian crudes amid Middle East squeeze Apr 14,2017
South Korean oil refiners are stepping up purchases of US and Russian crudes, in the wake of a squeeze in supplies of Middle Eastern grades after output curbs by the Organization of the Petroleum Exporting Countries. The country's fourth-biggest refiner Hyundai Oilbank said Monday that it had purchased 2 million barrels of US Southern Green Cany...>>>
100 Spot Commodities Price Chart - 12/04/2017 Apr 14,2017
It was assessed by SunSirs that in the tracked 100 spot commodities,21 commodities increased in prices, 32 fell and 46 remained unchanged on 12/04/2017.The largest rises were Silver (2.01%),Aniline (1.26%),Gasoline (0.94%),while the largest falls were ...>>>
China drives global oil demand growth during pandemic Nov 26,2020
NEW YORK -- China, with its rising refining industry, has driven global oil demand as the COVID-19 pandemic slashed it, and is emerging in the global refining industry shift, according to the International Energy Agency. Bloomberg quoted the agency as saying that as the demand for plastics and fuels grows in China and the rest of A...>>>
China's offshore gas fields project starts operation Nov 26,2020
BEIJING -- The Dongfang 13-2 gas fields project, China's largest offshore high-temperature and high-pressure gas fields project, has been put into operation, its operator said Wednesday. The project will likely have a peak annual gas output of over 3 billion cubic meters. It can serve 1 million people for 15 years, said China Natio...>>>
Inventors nationwide put their creations on display in Foshan Nov 26,2020
More than 2,050 inventions from across China were showcased at the 24th National Exhibition of Inventions that opened in Foshan, Guangdong province, last week. This year's event, held from Nov 19-21, attracted more than 5,000 participants from more than 800 companies, universities and research institutes. It featured an...>>>
Center-South Brazil sugar production at 37.66 million mt, a spike of 44.46% on year: UNICA Nov 26,2020
Center-South Brazil produced 1.24 million mt of sugar in the first two weeks of November, with cumulative production since the start of the season on April 1 reaching 37.66 million mt a jump of 44.46%, or 11.59 million mt, year on year, according to data released Nov. 25 by industry association UNICA. Sugar production in the first half of Novemb...>>>
China's solvent-grade mixed xylene demand grinds to a halt ahead of expected consumption tax: sources Apr 17,2017
Demand for solvent-grade mixed xylene has come to a near standstill this week as the product shares the same code for imports as mixed aromatics, which is expected to have a consumption tax imposed some time between May 1 and July 1, market sources said this week. Solvent-MX and mixed aromatics share the same harmonized system (HS) code for impo...>>>
Aegean says to supply ultra low sulfur fuel oil at all ARA ports Apr 17,2017
Bunker supplier Aegean said Wednesday it is able to supply ultra-low sulfur fuel oil in all ports in the Amsterdam-Rotterdam-Antwerp bunkering hub with immediate effect. The company did not reveal which producer will make the product. "We are responding to increased levels of demand for ULSFO from our clients in the region," Aegean NWE region...>>>
New Orleans MGO discount to Houston at widest level in over seven weeks Apr 17,2017
The New Orleans MGO discount to the same product in Houston reached its widest point Tuesday in more than seven weeks amid fierce supplier competition and an environment with poor supply and demand fundamentals, market sources said Tuesday. New Orleans MGO was assessed at $488/mt ex-wharf, a $20/mt discount to the same product at the competing p...>>>
Strong freight leaves less room for East-West fuel oil arbitrage: traders Apr 17,2017
The East-West arbitrage to take high sulfur fuel oil on VLCCs and Suezmaxes from the Amsterdam-Rotterdam-Antwerp region to Singapore will see fewer fixtures due to stronger freight, according to traders. Freight for a 270,000 mt VLCC to carry fuel oil to Singapore reached a two-week high Monday after strong crude demand saw VLCC fixtures soar, t...>>>
Feature: Low Brazil hydro to boost fossil fuel-fired power output, LNG import Apr 17,2017
Brazil's hydropower shortfall will lead the state-owned power grid operator to increase the use of fossil fuel-fired power this year, a move that will eventually lead to higher prices for consumers and a surge of LNG imports, sources say. "With the weak inflows and consequently water scarcity, we have seen many expensive thermo-electric plants a...>>>
North Dakota oil output rises back above 1 mil b/d in Feb Apr 17,2017
North Dakota crude oil production rose back above the 1 million b/d threshold in February for the first time since November, but output could drop as low as 950,000 b/d in March or April as frozen roads thaw and force the state to impose weight restrictions on service trucks, the state's top oil and gas regulator said Thursday. February's prelim...>>>
Middle East crude oil grades under pressure as Brent/Dubai EFS narrows to 19-month low Apr 17,2017
Middle East crudes are likely to face continued competition from Western arbitrage barrels, as the Brent/Dubai Exchange of Futures for Swaps fell to a 19-month low of 96 cents/b on Thursday, traders said. The EFS spread -- a key indicator of ICE Brent's premium to benchmark cash Dubai -- has been narrowing sharply this year, as the OPEC cuts hav...>>>
Russian oil refinery runs due to fall in April on maintenance: IEA Apr 17,2017
Russian refinery runs are expected to fall in April month-on-month on "the maintenance season peak," the International Energy Agency said in its latest monthly report Thursday. A host of Russian refineries are starting works over the course of April, including Ryazan, Novokuybishev, Orsk, Astrakhan, Syzran and Taneco, according to trading source...>>>
NYMEX May natural gas settles at $3.187/MMBtu, up 3.7 cents Apr 17,2017
The NYMEX front-month natural gas contract edged 3.7 cents higher Wednesday to settle at $3.187/MMBtu, chipping into Tuesday's near 9-cent decline ahead of the weekly US Energy Information Administration natural gas storage report. According to Platts Analytics' Bentek Energy, US demand is expected to surge 2 Bcf day on day Thursday, reaching ab...>>>