Chemical News
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Global LNG trade jumped 10.3% to 393 Bcm in 2017: BP Jun 14,2018
Global LNG trade grew 10.3% in 2017 to 393.4 Bcm of gas equivalent, the fastest growth since 2010, BP said in its latest annual statistical review published Wednesday. Chinese imports accounted for 50% of global growth LNG glut 'of sorts' in recent years: chief economist Dale LNG supply growth leading to more price convergence Strong produc...>>>
MISO May electricity prices rise on stronger demand, warmer weather Jun 14,2018
Midcontinent Independent System Operator day-ahead on-peak locational marginal prices were mostly higher in May, compared with this April and May 2017, boosted by rising demand and early summer heat in the footprint. At the five hubs in the MISO footprint tracked in an S&P Global Platts monthly analysis, day-ahead on-peak LMP averages ranged bet...>>>
US coal carload total jumps to 11-week high of 85,160: AAR Jun 14,2018
The number of US coal carloads transported in the week that ended June 9 jumped to 85,160 from 76,242 a week earlier, the Association of American Railroads said Wednesday. It was the highest weekly volume seen since 87,348 were transported in the week that ended March 24. For the second straight week, however, the latest week was down 0.3% from ...>>>
Brazil steelmakers plan to claim higher tax refund on exports Jun 14,2018
Ten major Brazil steelmaking companies are set to start legal claims against the government's decision to reduce the tax refund ceiling on the exports program from the current 2% to 0.1%, said a top official of steel institute Aco Brasil on Wednesday. "More than revert that decision, we are targeting predictability for 2019," said Aco Brasil pr...>>>
EIA says US propylene stocks fall, refinery rates inch up Jun 14,2018
US stocks of propylene for non-fuel use fell 88,000 barrels to 2.873 million barrels in the week ended June 8, Energy Information Administration data showed on Wednesday. Inventory levels are currently 74,000 barrels above year-ago levels, EIA data showed. US refinery run rates gained 0.3 percentage point to 95.7% last week, 1.3 percentage ...>>>
MEGlobal nominates July MEG ACP at $1,110/mt CFR Asia, down $40/mt from June Jun 14,2018
MEGlobal has nominated its July Asia Contract Price for monoethylene glycol at $1,110/mt CFR Asia, down $40/mt from June, a company official said Wednesday. The lower July ACP nomination reflects the short term supply and demand situation in the market, the source added. MEG was last assessed at $915/mt CFR China Tuesday, up $15/mt from Monday. >>>
Molybdenum oxide market moves lower as buying remains slow Jun 14,2018
Buying activity in the molybdenum oxide market was thin again Wednesday, with prices moving lower as would-be sellers appeared willing to drop offer levels in order to move material. "It makes sense that," said a European trader. "Those who have an intake on a formula basis have got material on their books." An Asian trader offered oxide pow...>>>
Australia's wheat output over 2018-19 season to rise 3% to 21.9 mil mt: ABARES Jun 14,2018
Australia is expected to produce 21.9 million mt of wheat in the 2018-19 (October-September) season, up 3% from 21.2 million mt in the previous season, despite a slight drop in acreage due to constrained planting intention from dry weather, the Australian Bureau of Agricultural and Resource Economics and Sciences said in its June crop report releas...>>>
100 Spot Commodities Price Chart - 13/06/2018 Jun 14,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,22 commodities increased in prices, 30 fell and 48 remained unchanged on 13/06/2018.The largest rises were Rebar (1.32%),Paper (1.13%),Ethylene glycol (0.94%),while the largest falls w...>>>
China's Hengli aims to start first PX line in Nov, after refinery starts Jun 15,2018
China's Hengli Petrochemical plans to start test runs at one of its two new paraxylene production lines in Dalian, Liaoning province, in November, in line with planned trial runs at its new 20 million mt/year (400,000 b/d) refinery in October, a source close to the company said Thursday. Both lines have a production capacity of 2.25 million mt/y...>>>
US House Republicans push plan to penalize states blocking offshore drilling Jun 15,2018
Republicans in the US House of Representatives want to penalize states who block oil and natural gas drilling off their coasts by forcing them to pay the federal government potentially billions of dollars to compensate for unused leases. The proposal would allow states to keep drilling off their shores, but would levy a "lost production fee" on ...>>>
NYMEX July gas settles 0.2 cent higher as near-term demand offsets storage data Jun 15,2018
The NYMEX July natural gas futures contract moved sideways Thursday after the US Energy Information Administration announced a 96-Bcf build in storage inventories for the week that ended June 8, an injection substantially greater than market expectations. The front-month contract settled at $2.965/MMBtu, up only 0.2 cent after trading in a range...>>>
Cal-ISO monitor reports 25% boost in 2017 prices, warns of tight conditions Jun 15,2018
California wholesale electricity costs increased 25% in 2017 on higher natural gas prices and tight system conditions, the California Independent System Operator's Department of Market Monitoring said Thursday. Tight supply and demand are expected to continue in 2018 and beyond, making the market less competitive, the DMM said in its annual repo...>>>
Castleton Commodities International planning to sell Cyrus River coal terminal dock in West Virginia: sources Jun 15,2018
Castleton Commodities International is planning to sell its Cyrus River Coal Terminal load-out and storage facilities in West Virginia to a Turkish buyer, multiple market sources said Wednesday. The river dock facility, located on the Big Sandy River in Kenova, is "a storage and blending terminal where 5 million st of coal can be aggregated, sto...>>>
West Africa's appetite for jet fuel bounces back on Nigeria buying Jun 15,2018
June has seen an uptick in demand for jet fuel in West Africa, with a number of Long Range vessels seen moving jet into the region. In particular, the Polar Unicorn arrived on June 9 in Lome, Togo, with a 60,000 mt of jet fuel cargo from Vadinar, India, while the UACC Shams had already brought a from 37,000 mt jet fuel cargo from Port Arthur on ...>>>
Taiwan's Formosa to shut Mailiao VCM/Caustic Soda plants for turnaround Jun 15,2018
Taiwan's Formosa Plastic plans to shut its 800,000 mt/year vinyl chloride monomer and 1.133 million mt/year caustic soda plants in Mailiao over end June-mid July for annual maintenance, a company source said Thursday. The shutdown would further tighten the Asian VCM supplies as many plants are scheduled to shut for turnarounds around this time ...>>>
CHINA DATA: PDH plants' May average run rate hits year-to-date high at 88% Jun 15,2018
China's propane dehydrogenation plants raised their averaged operating rate to 88% in May from 84% in April, according to S&P Global Platts calculations based on data provided by JLC, a Beijing-based information provider. This was the highest run rate to date in 2018, and could be attributed to no maintenance being undertaken at PDH plants in Ma...>>>
Philippines' JG Summit aims to startup new BTX plant late 2019-early 2020 Jun 15,2018
The Philippines' JG Summit Petrochemical plans to start production at its new aromatics plant at Batangas by late 2019 or early 2020, company officials said late Wednesday. The plant, which is being built in conjunction with the expansion of the group's naphtha-fed steam cracker, is expected to have a production capacity of 126,000 mt/year of be...>>>
US corn net export sales down 6.4% on week, within expected range Jun 15,2018
US net export sales of current crop corn and next crop totaled 1.177 million mt in the week ended June 7, down 6.4% from 1.257 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 ...>>>
100 Spot Commodities Price Chart - 14/06/2018 Jun 15,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,27 commodities increased in prices, 27 fell and 46 remained unchanged on 14/06/2018.The largest rises were Nickel (1.82%),Acetic acid (1.78%),Wheat (0.75%),while the largest falls were...>>>