Chemical News
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US utilities ask congressional leaders to lift cap on electric vehicle tax credit Mar 19,2018
More than three dozen US utilities this week asked congressional leaders to lift a cap on income tax credits for individuals who purchase electric vehicles, and industry observers differed Friday over whether the request should be granted. Section 30D of the US Internal Revenue Code provides that beginning in 2010, for a purchase of a qualified ...>>>
Saudi crown prince to meet with Trump amid slumping imports, diplomacy shift Mar 19,2018
Saudi Arabia's crown prince is scheduled to meet with President Donald Trump on Tuesday, arriving as US imports of Saudi crude have declined to levels not seen in three decades and as the administration undergoes a major shift in foreign policy leadership. * Crown Prince seeks US investment in cross-country trip * Iran nuclear deal, Aramco IP...>>>
100 Spot Commodities Price Chart - 16/03/2018 Mar 19,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,13 commodities increased in prices, 31 fell and 56 remained unchanged on 16/03/2018.The largest rises were Cobalt (1.98%),Asphalt (0.82%),LPG (0.58%),while the largest falls were Dried...>>>
China's Yunnan Aluminium targets 65% jump in 2018 alumina output to 1.4 mil mt Mar 20,2018
China's Yunnan Aluminium late Monday said it targets producing 1.4 million mt of alumina in 2018, up 65.1% from realized output in 2017, as a newly commissioned expansion project ramps up. The alumina and aluminum semi producer posted a 3.4% year-on-year rise in 2017 alumina output to 847,800 mt in its annual report filed to the Shenzhen Stock ...>>>
EMEA: The week ahead in petrochemicals, w/c Mar 19 Mar 20,2018
The European ethylene spot market is tight as turnaround season begins. OLEFINS There are reports of an uptick in the volume of deals being done but with discounts close to flat on the contract price, European inventory is expected to remain snug in the coming weeks. Propylene prices look bullish going in to April as market remains fairly ...>>>
Mariner East 1 NGL pipeline remains offline, pending Pennsylvania PUC approval Mar 20,2018
Energy Transfer Partners' Mariner East 1 NGL pipeline remained offline Monday, 12 days after the Pennsylvania Public Utility Commission ordered it shut because of nearby sinkholes and concerns about the pipeline's integrity. "ME1 line [is] still down pending restart approval" by the PUC, ETP spokesman Jeff Shields said Monday in an email. "I don...>>>
Turkish thermal coal market suppressed by weak demand, falling European prices Mar 20,2018
The delivered price for thermal coal into Turkey has dropped again in the week to Friday on the back of low consumer demand and falling European prices. A Turkey-based consumer said the European price has been going down "day by day," explaining the price of Turkish coal has been following this trend recently. The source said they have little...>>>
German Apr power contract could fall if weather warms, wind generation rises Mar 20,2018
The German April power contract is currently trading at the highest in a March in the past five years, according to historical S&P Global Platts data, but could tumble if forecasts change to show warmer weather, traders said. Cold spells raised premium for front-month April highest since 2013 at this time of year Temps, wind to determine possi...>>>
New UK wind power record at 14.3 GW on Mar 17 Mar 20,2018
UK wind power generation set a new record of 14.3 GW on Saturday, while average generation was 13.3 GW, according to S&P Global Platts Analytics data. Overall, wind supplied 35.7% of the supply mix Mar 17 Metered, embedded wind also hit fresh record Mar 17 The previous record was seen on March 1 at 13.8 GW. The maximum metered wind output...>>>
Southwest Power Pool real-time prices drop on high wind generation Mar 20,2018
Southwest Power Pool real-time prices turned negative Monday afternoon as wind generation picked up. South Hub real-time was negative $15.25/MWh around 1:25 pm CDT Monday as wind generation increased in the SPP footprint. Wind generation was more than 43% of the SPP fuel mix at that same time, with wind farms generating more than 13,000 MW, m...>>>
Interior Department policy on bird treaty begins, adding flexibility to tree-cutting windows Mar 20,2018
A new Interior Department policy easing migratory bird regulations is beginning to filter down to interstate natural gas pipeline projects, whose schedules can be affected by seasonal tree-clearing restrictions. The US Fish and Wildlife Service has told DTE Midstream Appalachia that it is on board with allowing vegetative clearing for parts of t...>>>
Europe's cold shoulder to Russian gas could lift US LNG export goals Mar 20,2018
Europe's efforts to cut its reliance on Russian supplies of natural gas are being seen as a timely business opportunity for US LNG exporters feverishly trying to secure long-term contracts to finance terminal projects. Comments Monday to that effect by officials from Poland and Lithuania at trade group LNG Allies' Transatlantic Energy Security F...>>>
Contango casts bearish shadow across oil complex Mar 20,2018
NYMEX crude's term structure will be closely scrutinized this spring as an indicator of market fundamentals after the April/May spread flipped last week from backwardation to contango. * Smaller crude builds nearly erase surplus * Gasoline, distillate draws likely * Refinery utilization expected to rise The main question will be whether...>>>
US bans use of Venezuela's digital currency to tighten pressure on Maduro Mar 20,2018
The Trump administration's move Monday to ban the use of Venezuela-issued digital currency known as the petro is expected to have only symbolic impact in pressuring the Maduro regime. But the US continues to consider oil-sector sanctions and the significant impact they could have on US refiners, according to a White House official. "Oil-sector s...>>>
100 Spot Commodities Price Chart - 19/03/2018 Mar 20,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,21 commodities increased in prices, 38 fell and 41 remained unchanged on 19/03/2018.The largest rises were Methanol (2.22%),Asphalt (0.92%),Wood pulp (0.59%),while the largest falls we...>>>
China tariff warning does not faze soybean, meal markets Mar 22,2018
Soybean and soybean meal futures markets on Tuesday largely ignored comments from Chinese media that said the government may impose tariffs on US soybean imports. Front-month CBOT soybean futures settled 5.75 cents higher on the day at $10.2825/bushel. Front-month soybean meal futures settled $3.10/st higher at $361.70/st. A broker on Tuesday...>>>
Steel executives meet with Congress to plead for support with tariffs Mar 22,2018
US-based steel executives held court with congressional representatives in Washington on Wednesday for a hearing to discuss the state of the domestic steel industry -- particularly global overcapacity -- in the wake of President Donald Trump announcing he will impose 25% steel tariffs from March 23. "The president got it right," said Nucor CEO J...>>>
Platts assesses Q2 Japan aluminum premium at $129/mt plus LME, CIF Mar 22,2018
S&P Global Platts Thursday assessed the premium for imported primary aluminum in the second quarter at $129/mt plus London Metal Exchange cash, CIF main Japanese ports, up 25% from $103/mt CIF Japan for Q1. The Q2 assessment was on the basis of 12 settlements reported at $129/mt plus LME cash for the loading month, CIF Japan, for seaborne P1020...>>>
US March propylene contract prices settle 6 cents/lb lower: sources Mar 22,2018
US March propylene contract prices reached marketwide settlement Wednesday at a 6 cents/lb decrease to 47 cents/lb for polymer-grade product and 45.5 cents/lb for chemical-grade product, sources said. The settlement is in line with market expectations, which had been talked at a decrease of 5-7 cents/lb. The decline in prices is due to thin d...>>>
India's polymer markets slow down after central bank tightens trade financing Mar 22,2018
India's polymer markets have taken a downturn following the central bank's tightening of trade financing on imports earlier this month, market sources said Wednesday. Among the key polymers, PVC has borne the greatest impact from the tighter lending policy as the country is highly dependent on imports. India's PVC deficit is estimated at 1.5 mil...>>>