Chemical News
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Taiwan bans 267 vessels from entering ports under North Korea sanctions Jun 08,2018
Taiwan's Maritime and Port Bureau has banned 267 vessels from entering its territorial waters and ports from June 5, in accordance with the UN North Korea sanctions resolution, according to a port circular issued Tuesday. "These sanctions are for all countries... it is coming from the UN. Some Taiwanese did business with North Korean ships... an...>>>
US corn net export sales rise 10% on week to higher end of expected range Jun 08,2018
US net export sales of current crop corn and next crop totaled 1.257 million mt in the week ended May 31, up 10% from 1.142 million mt in the previous week, Department of Agriculture data showed Thursday. Market expectations were for total weekly export sales to be between 800,000 mt and 1.300 million mt, a source said. Weekly corn export sal...>>>
India sets minimum floor price for sugar at $433/mt amid supply glut Jun 08,2018
Indian Union Cabinet, headed by the Prime Minister, approved the minimum floor price of Rs 29/kg ($433/mt) Wednesday for domestic sugar, amid a supply glut that has left prices languishing below the production costs during the 2017-2018 (October-September) season. Since the beginning of the season, prices on the NCDEX spot Kolhapur, Maharashtra,...>>>
Chinese government directs steelmakers to raise US coking coal imports: sources Jun 08,2018
The Chinese government has told several large steel mills to increase their year-on-year import volumes of US met coals, as part of the country's attempts to narrow its significant trade deficit with the US, sources told S&P Global Platts. Related article -- Uncertainty over how China can loosen policies to support US metallurgical coal imports:...>>>
Mexico submits formal complaint to WTO over US metals tariffs Jun 08,2018
Joining a growing list of countries, Mexico Thursday formally requested dispute consultations with the World Trade Organization regarding the US Section 232 tariffs on steel and aluminum. Mexico claims in its filing that US duties of 25% on steel imports and 10% on aluminum imports are inconsistent with provisions of the WTO's General Agreement ...>>>
India's GAIL ramping up 400,000 mt/year Pata PE plant to 100% after run cut Jun 08,2018
India's GAIL is ramping up production at the 400,000 mt/year polyethylene plant at its Pata complex in Uttar Pradesh to 100% of capacity this week after running it at 50% last week, a company source said Thursday. GAIL declined to comment on why operations were reduced earlier. The company also operates a 210,000 mt/year high density/linear l...>>>
Naphtha Baltic-to-US flows remain weak at 60,000 mt so far in June: cFlow Jun 08,2018
Naphtha flows fixed to the US from the Baltic region for June currently total around 60,000 mt on one vessel, data from S&P Global Platts trade flow software cFlow showed Thursday, remaining low after only 74,000 mt made the journey in May, down from 363,000 mt in April. The BW Nile loaded in the Russian Baltic port of Ust-Luga around May 22 and...>>>
April US coal exports surge to highest monthly total since 2013 Jun 08,2018
US coal exports totaled 10.1 million mt in April, the highest monthly total since March 2013, according to new US Census data. The monthly total was up 17.7% from March and 53.3% higher than the year-ago month. Driven by strong seaborne prices, end-users are increasingly choosing to source metallurgical and thermal coal from the US. A possibl...>>>
US natural gas storage volume rises 92 Bcf to 1.817 Tcf: EIA Jun 08,2018
The amount of natural gas in US storage facilities increased by 92 Bcf to 1.817 Tcf in the week that ended June 1, the US Energy Information Administration reported Thursday. The build was in line with market expectations, matching the consensus forecast of an S&P Global Platts survey of analysts. However, the injection was 10.7% less than th...>>>
OPEC finds global proven crude oil reserves fell 0.4% to 1.483 trillion barrels in 2017 Jun 08,2018
Global proven crude oil reserves declined 0.4% in 2017 from the 2016 level to 1.483 trillion barrels, while gas reserves rose 0.2% to 199.4 trillion cubic meters, OPEC said Thursday in its Annual Statistics Bulletin. OPEC's 14 members had proven crude reserves of 1.214 trillion barrels as of the end of 2017, the report estimated, a 0.3% decline ...>>>
100 Spot Commodities Price Chart - 06/06/2018 Jun 08,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,27 commodities increased in prices, 23 fell and 50 remained unchanged on 06/06/2018.The largest rises were Adipic acid (2.64%),Zinc (2.42%),Nickel (1.70%),while the largest falls were ...>>>
Market views mixed on possibility of China importing US coal Jun 11,2018
Opinions in the domestic Chinese thermal coal market are mixed on reports in the Chinese media that Beijing is taking the initiative to encourage end user customers to buy more US coal as a way of easing trade tensions. According to Chinese media reports, the plan is to purchase up to $70 billion of US products including Appalachian coal from th...>>>
Argentina's power sector consumes less fuel oil, more gas in April Jun 11,2018
Argentina's power sector cut its consumption of coal and fuel oil in April, as it put a preference on diesel and natural gas, an industry report showed Friday. Thermal power plants, which supply around 65% of the country's electricity, consumed 168 mt/d of fuel oil in April, down 95.4% from 3,660 mt/d in the year-ago period, the "General Mosconi...>>>
Italy's electricity ancillary market price caps 'ineffective, damaging': traders Jun 11,2018
Regulated price caps in Italy's electricity ancillary services market have hampered trading activity and failed to reduce costs, according to energy traders' group AIGET. Traders slam MSD 'distortions' Uplift price up to 11-month high New entrants 'dissuaded by restrictions' "It's been obvious for some time that the mercato dei servizi di d...>>>
April US coal exports surge to highest monthly total since 2013 Jun 11,2018
US coal exports totaled 10.1 million mt in April, the highest monthly total since March 2013, according to new US Census data. The monthly total was up 17.7% from March and 53.3% higher than the year-ago month. Driven by strong seaborne prices, end-users are increasingly choosing to source metallurgical and thermal coal from the US. A possibl...>>>
ARA naphtha stocks hit near Jun 11,2018
Naphtha inventories in the Amsterdam-Rotterdam-Antwerp hub rose 10% to 366,000 mt in the week ended Thursday, rising for the fourth consecutive week and nearing record levels on the back of covered end-user demand and weaker blending interest. The last time stocks were measured higher was March 29 at 367,000 mt, a record high, according to data ...>>>
China's Sinopec Zhenhai to restart 620,000 mt/year styrene monomer plant June 10 Jun 11,2018
Sinopec Zhenhai Refining & Chemical Company plans to restart its 620,000 mt/year styrene monomer plant at Zhenhai in eastern China's Zhejiang province June 10, following planned maintenance, a source with knowledge of the matter said Friday. The plant was taken offline April 21, in line with planned maintenance at its upstream naphtha-fed steam ...>>>
Supply concerns drive European spot methanol prices to highest in 16 months Jun 11,2018
Supply concerns and good demand have pushed European spot methanol prices hit their highest since March 2017 this week, with market sources expecting the rise to continue. S&P Global Platts assessed the 5-30 day spot methanol price up Eur4.50 on the day at Eur375.50/mt FOB Rotterdam Wednesday. Sources said prices were increasing due to concer...>>>
California CARBOB gasoline stocks dip below 7 million barrels Jun 11,2018
California CARBOB gasoline stocks dipped below 7 million barrels in the week ending June 1, marking only the second time that has happened since the last week of April, state government data showed Wednesday night. CARBOB inventory fell 515,000 barrels to 6.95 million barrels last week, California Energy Commission data showed. The total was wel...>>>
China's Shanghai PC to shut naphtha-fed steam cracker June 20 for maintenance Jun 12,2018
China's Shanghai Petrochemical plans to shut its naphtha-fed steam cracker in Shanghai around June 20 for annual maintenance, a company source said Monday. The cracker, which is able to produce 400,000 mt/year of ethylene, will be shut for around one month, the source said. The company has two naphtha-fed steam crackers there. The company has...>>>