Chemical News
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ASIA SPOT LNG: Platts Apr JKM $17.875/MMBtu on low spring demand Mar 04,2013
Platts April LNG Japan Korea Marker ended the Asian trading week at $17.875/MMBtu, down 32.5 cents/MMBtu, as North Asian spring demand subsided along with expectations of temperatures warming up in the period. The one-month weather forecast for March 2 through April 1 by the Japan Meteorological Agency showed that all of Japan's 12 regions are e...>>>
IFERC March US national gas average rises 12 cents to $3.35/MMBtu Mar 04,2013
US spot monthly natural gas prices for March increased by 12 cents, or 3.7% on average, to $3.35/MMBtu, compared with the previous month's $3.23/MMBtu average, Inside FERC's Gas Market Report said Friday. The NYMEX March gas futures contract expired $3.427/MMBtu, up 20.1 cents, or 6.2%, from the February contract's final close of $3.226/MMBtu. ...>>>
Brazil to raise ethanol mix in gasoline to 25% from 20% May 1 Mar 04,2013
The Brazilian government Friday announced a rise in the amount of ethanol mixed into gasoline sold at the pumps to 25% from 20% from May 1. The announcement was published in the official Union Diary and, the government said, was taken "bearing in mind the necessity of guaranteeing the adequate supply of fuel throughout Brazilian territory." ...>>>
FEATURE: US fuel oil exports to Europe near record, but trend may be shifting Mar 04,2013
US fuel oil exports to the Netherlands, Europe's primary demand hub, were the second-highest on record for 2012 but slowed in the latter part of the year, according to US data, signaling a shifting dynamic as domestic demand for the low-sulfur form of the fuel is on the way up. US exports to the Netherlands last year totaled 16.735 million barrels,...>>>
US propane, propylene stocks fall 3.22 million barrels on week: EIA Mar 01,2013
US propane and propylene stocks dropped 3.22 million barrels to 47.85 million barrels in the reporting week that ended Friday, the Energy Information Administration said Wednesday. Midwest supplies fell 926,000 barrels to 13.52 million barrels, East Coast supplies declined 552,000 barrels to 1.78 million barrels, Gulf Coast stocks dropped 1.62 ...>>>
Asian toluene-naphtha spread sinks to 4-month low on lower toluene prices Mar 01,2013
The spread between Asian toluene and feedstock naphtha was assessed at a more than four-month low of $263.125/mt Wednesday, down $23.275/mt from Tuesday, as the toluene market came under pressure from weak demand and falling domestic China prices, Platts data showed. The last time the spread had slumped to this level was on October 19, 2012, at ...>>>
Formosa Plastics to hike US liquid caustic soda prices by $30/dst Mar 01,2013
US prices for all Formosa Plastics liquid caustic soda products will increase by $30/dry st immediately or as contract terms allow, the company said in a letter to customers Wednesday. The company did not provide a reason for the increase in the letter, which was obtained by Platts Thursday, but it joins other caustic soda producers in imposing...>>>
US Lower 48 natural gas production falls 1.1% TO 72.7 Bcf/d in December: EIA Mar 01,2013
Natural gas output in the US Lower 48 states fell 1.1%, or 830,000 Mcf/d, in December compared with November, the US Energy Information Administration said Thursday in its monthly gas gross production report. Total US Lower 48 gas production in December was 72.7 Bcf/d, compared with a revised 73.53 Bcf/d in November. This constitutes a year-o...>>>
NYMEX April gas futures settle 5.2 cents higher on storage pull Mar 01,2013
The NYMEX April natural gas futures contract settled 5.2 cents higher at $3.486/MMBtu Thursday on the back of a US Energy Information Administration storage withdrawal number that was above expectations and new data indicating a decrease in production, sources said. For the week that ended Friday, the EIA estimated a pull from storage stocks of...>>>
Rejection of Keystone XL would be strong climate signal: EU commissioner Mar 01,2013
The European Union's top climate change official said Thursday that President Barack Obama can show his commitment to climate change action by rejecting TransCanada's plan to build the Keystone XL pipeline. "I think that would be an extremely strong signal [that Obama is serious about climate change action]," EU climate Commissioner Connie Hedeg...>>>
New Wall Street tax bills unveiled in US House, Senate Mar 01,2013
US Senator Tom Harkin, an Iowa Democrat, and Representative Peter DeFazio, an Oregon Democrat, on Thursday again introduced bills to place a 0.03% tax on futures, swaps and other derivatives. Harkin and DeFazio have introduced bills calling for a similar tax in 2009, 2010 and 2011, but those bills never gained traction amid fierce opposition fro...>>>
Global economy, tire sales dampen 2012 natural rubber demand: IndoAgri Feb 28,2013
Indonesia's Indofood Agri Resources said Wednesday that global demand for natural rubber slowed in 2012 as a result of an adverse global economy and a slowdown in tire replacement sales. Due to the weaker demand, it said RSS 3 SICOM (Ribbed Smoked Sheets, Singapore Commodity Exchange) prices averaged $3,384/mt in 2012, down 30% from $4,824/mt in...>>>
Spot ARA butane prices gain support from petrochemical demand Feb 28,2013
Spot prices for barge lots of butane loading in the Amsterdam-Rotterdam-Antwerp area have gained support from petrochemical demand, according to industry sources. Surplus butane from ARA refineries can be absorbed into the MTBE, gasoline blending or petchem sectors. But demand from the MTBE sector is currently quite weak, with LyondellBasell,...>>>
US propane, propylene stocks fall 3.22 million barrels on week: EIA Feb 28,2013
US propane and propylene stocks dropped 3.22 million barrels to 47.85 million barrels in the reporting week that ended Friday, the Energy Information Administration said Wednesday. Midwest supplies fell 926,000 barrels to 13.52 million barrels, East Coast supplies declined 552,000 barrels to 1.78 million barrels, Gulf Coast stocks dropped 1.62 ...>>>
Repsol, Shell agree 10-year LNG supply deal to Canaport terminal Feb 28,2013
Repsol on Tuesday announced a $6.7 billion deal that will see Shell purchase a package of LNG assets from the Spanish firm. Repsol will sell Shell its interests in LNG facilities in Trinidad and Tobago, Peru and Spain as well as LNG contracts and vessel contracts. Those interests are a 20% share of the four-train, 15 million mt/year Atlantic ...>>>
NYMEX April gas contract rises in early trading on weather support Feb 28,2013
The NYMEX April natural gas futures contract rose in early trading Wednesday as traders eyed a potentially cold start to March across much of the US. As of 10:05 a.m. EST (1505 GMT), the contract was trading at $3.51/MMBtu, up 5.4 cents from its close on Tuesday. "Despite what the various groundhogs might have indicated, it appears March is g...>>>
NWE March gasoline crack swap falls to near 2-week low on drop in RBOB futures Feb 28,2013
Northwest Europe gasoline crack swaps fell sharply at Tuesday's European close following a drop in NYMEX RBOB futures. Platts assessed the March Eurobob crack swap at $13.50/barrel Tuesday, down from Monday's $14.70/b and the lowest since February 13 when it was assessed at $13.40/b. The front- and second-month NYMEX RBOB contracts both fell ...>>>
US commercial crude stocks continue to rise; gasoline drops further: EIA Feb 28,2013
US commercial crude stocks failed to fall for the sixth straight reporting week data from the Energy Information Administration showed Wednesday, climbing 1.13 million barrels over the week ended February 22 to 377.518 million barrels, despite a sharp increase in refinery utilization and a decline in domestic production. The overall increase in ...>>>
NWE Mar butadiene contract fully settled at Eur1,415/mt Feb 27,2013
The Northwest European contract price for March-delivered butadiene was fully settled Tuesday at Eur1,415/mt FD NWE ($1,880/mt FD), following confirmation from two producers and two consumers involved in the negotiations. The increase represents a Eur50/mt rise from the February price of Eur1,365/mt FD NWE. Two sellers, Total Petrochemicals a...>>>
China Jan polypropylene homopolymer imports up 2.7% from Dec to 385,957 mt Feb 27,2013
China's polypropylene homopolymer imports increased 2.7% month on month in January to 385,957 mt, customs data released on Tuesday showed. PP imports rose 36.5% year on year, the data showed. Imports from Saudi Arabia edged up 3.3% from December to 97,675 mt while imports from South Korea slipped 2.9% month on month to 76,139 mt. South Korea ...>>>