Chemical News
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Asian isomer-MX versus naphtha price spread shrinks on weak China demand Mar 22,2018
The spread between isomer-grade mixed xylenes and key petrochemical feedstock naphtha has shrunk to a two-month low of $154/mt Wednesday amid an added supply of isomer-MX coupled with low demand from China, market sources said. Isomer-MX was last assessed at $737/mt FOB Korea and naphtha at $583/mt CFR Japan Wednesday. The MX-naphtha spread ...>>>
December 2018 EU Allowances surge to five-year high Mar 22,2018
Carbon allowances for December 2018 delivery under the EU Emissions Trading System surged around Eur1/mt intraday Wednesday on the ICE exchange to a five-year high of Eur12.49/mt. * December 2018 EU Allowances hit Eur12.49/mt * Up almost Eur1/mt intraday on ICE * EUA strength lifts European forward prices Annual verified CO2 data for 20...>>>
OPEC sees oil storage glut shrinking, as new benchmark for rebalancing mulled Mar 22,2018
Commercial oil inventories held by OECD countries fell to 2.855 million barrels in February, 44 million barrels above the five-year average, OPEC said Wednesday. That is down from 2.865 million barrels in January, which was 50 million barrels above the five-year average, OPEC reported earlier this month. OPEC and its allies in a production cu...>>>
NYMEX April gas futures little changed at $2.656/MMBtu Mar 22,2018
NYMEX April natural gas futures traded on either side of unchanged in the US overnight, managing to drift fractionally higher ahead of Tuesday's open. At 7:10 am ET (1110 GMT) the contract was 0.5 cent higher at $2.656/MMBtu, trading in a range of $2.650-$2.667/MMBtu. While participants are eyeing weather outlooks and anticipated warmth as sp...>>>
Norway's Sleipner gas flows down 5.1 million cu m Tuesday: Gassco Mar 22,2018
The impact of a compressor failure at Norway's Sleipner gas field is set to extend into Wednesday, with Norwegian grid operator Gassco reporting a within-day gas loss of 5.1 million cu m for Tuesday and day-ahead loss of 5.1 million cu m Wednesday, according to a note published early Tuesday. The unplanned outage started Sunday at 9:16 am (0816 ...>>>
100 Spot Commodities Price Chart - 21/03/2018 Mar 22,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,16 commodities increased in prices, 39 fell and 45 remained unchanged on 21/03/2018.The largest rises were Dried cocoons (2.57%),Cobalt (0.90%),Methanol (0.64%),while the largest falls...>>>
China's 1st front-month crude futures open at Yuan 440/b, up 6% from INE-set starting price Mar 26,2018
China's first long-expected crude oil futures has started trading on the Shanghai International Energy Exchange Monday, with the front-month September contract being the most actively traded in the first morning session, according to data from INE's website. The September crude futures contract, or SC1809, jumped to above Yuan 440/b ($69.63/b) ...>>>
CS Brazil's H1 March hydrous ethanol output up 70% on year: UNICA Mar 26,2018
Brazil's Center-South region produced 244 million liters of hydrous ethanol in the first half of March, up 70% year on year and more than doubling from 109 million liters in the previous two-week period, industry association UNICA said Friday. The stronger output is a response to higher hydrous prices in the intercrop season, which reached a rec...>>>
US ethanol exports would take major hit from China's tariff threat Mar 26,2018
China's proposed 45% tariff on US ethanol imports would block an estimated 20 million gal/month of shipments, deal a blow to US producers' export ambitions and make China's own E10 target unreachable, according to S&P Global Platts Analytics. * Proposed 45% tariff could block 20 million gal/month * Drop in US imports would make China's E10 ta...>>>
Australia likely to safeguard Asian aluminum trade despite US tax exemption Mar 26,2018
Australia's exemption from the US' import tax on aluminum imports, set to take effect Friday, is expected to boost term contract shipments there, market sources said this week. However, as the tax regulation is still taking shape, and there is no certainty about the longevity of Australia's exemption, market participants also said they would exp...>>>
Chinese steel and ore derivatives plunge on escalating trade tensions Mar 26,2018
The looming possibility of a trade war between China and the US has decimated confidence on the steel and ore derivatives market, sending prices tumbling. The Chinese steel and ore derivatives market dived on the news that US President Trump had signed the tariffs memorandum against China. The most-traded rebar contract on the Shanghai Futu...>>>
US says temporary steel, aluminum tariff exemptions valid through May 1 Mar 26,2018
The temporary exemptions provided to certain of the US' allies on its new steel and aluminum import tariffs will only be valid through May 1 unless the parties are able to reach a longer-term agreement, according to a pair of presidential proclamations released late Thursday by the White House. "The US is continuing discussions with Canada and M...>>>
No big changes expected in EU exemption from US aluminum tariff: sources Mar 26,2018
European aluminum market participants do not expect any significant changes from the US decision to temporarily exempt the European Union from proposed aluminum import tariffs, they told S&P Global Platts Friday, as uncertainty will remain over the longer-term outlook. The US government confirmed Thursday its 25% import tariff on steel and 10% o...>>>
AFPM 2018: US propylene market to stay long until 2020s - source Mar 26,2018
US propylene market is expected to stay long in 2018 and 2019, before tightening up in the early 2020s as new derivative capacity comes online, a buyer said Sunday. At least five new propylene-derivative units are in the works to start up in the next decade, while only two new on-purpose propylene capacities are expected to start up in the timef...>>>
AFPM 2018: Venezuela polymer activity slowed by production, credit: source Mar 26,2018
Polymer production in Venezuela remains virtually non-existent and limited credit requires many buyers to import resins with cash against documents credit terms, a trader source said Sunday. "There are real struggles with buying, but when we can [sell] it is good business because most have to pay up front," the trader source said on the sidelin...>>>
EU CO2 prices jump 13% on week ahead of key 2017 data Mar 26,2018
EU carbon dioxide allowance prices under the EU Emissions Trading System rose by 12.9% in the past week compared with the previous week extending their rally to a fresh six-year high ahead of key annual data to be published in April. EU Allowance futures contracts for delivery in December 2018 on the ICE Futures Europe traded above Eur13/mt (abo...>>>
Shutdown evaded as Trump signs spending bill, energy programs avoid steep cuts Mar 26,2018
Despite a surprise veto threat that rattled Congress Friday morning, President Donald Trump signed a $1.3 trillion spending bill, avoiding a federal government shutdown and sparing energy-related programs the steep cuts once envisioned by the White House. The omnibus spending bill reins in the federal government's FY-18 outlay to energy sector r...>>>
100 Spot Commodities Price Chart - 23/03/2018 Mar 26,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,15 commodities increased in prices, 40 fell and 45 remained unchanged on 23/03/2018.The largest rises were Soybean meal (1.24%),Wood pulp (1.03%),Diesel (0.97%),while the largest falls...>>>
Australia's Fortescue drops iron ore price guidance on subdued Chinese demand Mar 27,2018
Australian iron ore miner Fortescue Metals Group has lowered its fiscal year ending June 2018 price realisation guidance to about 65% of the average benchmark S&P Global Platts 62 CFR index following sluggish demand growth from China and concerns of a trade war, the company Tuesday said. "The updated guidance reflects a slower than anticipated ...>>>
US corn inspected for export down 19.8% on week, 26.5% on year: USDA Mar 27,2018
The amount of US corn inspected for export dropped 19.8% week on week to 1.154 million mt in the week ended March 22, US Department of Agriculture data showed Monday. The amount of corn inspected was 26.5% lower than the 1.57 million mt inspected for export in the year-ago week, according to the USDA's weekly Federal Grain Inspection Service rep...>>>