Chemical News
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Trump's Turkey tariffs hike expected to hit Kinder Morgan gas pipeline project Aug 13,2018
Houston — President Donald Trump's plan Friday to double tariffs on steel imported from Turkey to 50% could place additional financial pressure on Kinder Morgan's proposed 1.98 Bcf/d Gulf Coast Express Pipeline and dampen prospects for future US natural gas projects. The escalating trade headwinds for domestic pipeline operators come at a time w...>>>
NYMEX September gas decreases as power burn backs off Aug 13,2018
Houston — September natural gas futures decreased Friday, down 1.1 cents to $2.944/MMBtu, as power burn totals fell on the day. The front-month contract traded Friday between $2.917/MMBtu and $2.955/MMBtu. US demand fell 3.1 Bcf/d Friday to 70.8 Bcf/d as demand reached its lowest levels in five days, according to S&P Global Platts Analytics dat...>>>
Increased soybean yield numbers forecast record US supplies: USDA Aug 13,2018
Chicago — Domestic soybean production for 2018-2019 is projected to rise 276 million bushels to 4.586 million on increased yield numbers, US Department of Agriculture data showed Thursday. Soybean supplies for 2018-2019 are projected at a record 5.040 million bushels. According to the agency's World Agricultural Supply and Demand Estimates in A...>>>
First US ethanol import of 2018 due in San Francisco August 20: cFlow Aug 13,2018
Sao Paulo — The Cielo di Salerno, laden with nearly 40 million liters of ethanol, is due to arrive in San Francisco on August 20 after leaving Santos, Brazil, on July 23, according to S&P Global Platts trade flow software cFlow. The vessel, which represents the first US ethanol imports of 2018, was west of Peru Friday, according to cFlow. Accor...>>>
US CAPP export coal tight, prices come off for high sulfur NAPP, IB coal Aug 13,2018
Houston — As US domestic coal markets continue to deal with low demand on account of cheap natural gas, exports remain a viable outlet thanks to strong overseas demand. This year, exports of both thermal and metallurgical coal could make up as much as 16% of total production, which would be an all-time high, said a prominent market analyst at an...>>>
Turkey steel, aluminum tariff-hike documents to be prepared: White House Aug 13,2018
New York — Elaborating on President Donald Trump's tweet Friday, the White House said documents will be prepared to boost tariffs on steel and aluminum from Turkey. "As he stated, the President has authorized the preparation of documents to raise tariffs on imports of steel and aluminum from Turkey," the White House told pool reporters, accordin...>>>
Sugarbeet crop prospects weigh on EU ethanol despite lower yield estimates Aug 13,2018
London — Sugarbeet yield estimates have been downgraded across Belgium, France and Germany on account of the drought, but this has not given a bullish impetus to the European ethanol market as ethanol production is still set to be maximized by beet-based producers. In Belgium, the first test by ISCAL Sugar on August 6 showed an average beet yiel...>>>
US President Donald Trump doubling steel, aluminum tariffs for Turkey: tweet Aug 13,2018
New York — US President Donald Trump has ordered a doubling of the steel and aluminum tariffs on imports from Turkey, citing deteriorating US-Turkey relations this morning in a tweet at about 8:47 am EDT. "I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly...>>>
Angola June crude oil exports rebound to 4-month high of 1.63 mil b/d Aug 13,2018
London — Angola's crude oil exports rebounded to a four-month high of 1.63 mil b/d in June even as the OPEC member struggles to arrest declines at some of its ageing deepwater oil fields, finance ministry data showed Friday. Angola exported 1,627,697 b/d in June compared with 1,425,269 b/d in May but close to the 2017 average export volume of 1,...>>>
100 Spot Commodities Price Chart - 10/08/2018 Aug 13,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,36 commodities increased in prices, 12 fell and 52 remained unchanged on 10/08/2018.The largest rises were 2-EH (9.20%),PA (8.53%),Benzene (2.65%),while the largest falls were Polysili...>>>
Chinese buyers cool to Beijing's additional 25% import tariff on US coking coal Aug 14,2018
Singapore — Chinese coking coal buyers were unfazed by Beijing's slapping of an additional 25% import tariff on $16 billion worth of US products -- including coking coal, coke and thermal coal -- from August 23, given ample availability of alternative supplies. According to Chinese market participants, there are several domestic metallurgical co...>>>
Distillate arrivals into Europe from USGC in August 1.02 mt so far Aug 14,2018
London — The volume of distillates scheduled to arrive in the Mediterranean and Northwest Europe from the US Gulf Coast in August was around 1.02 million mt as of Monday, with 600,000 mt bound for NWE and 420,000 mt expected to arrive in the Mediterranean, S&P Global Platts trade flow software cFlow showed. The total volume for July was 1.7 mill...>>>
Crude futures settle lower as market seeks direction Aug 14,2018
New York — Crude futures ended slightly lower Monday despite a fall-off in Saudi Arabian production and tighter fundamentals. October ICE Brent crude settled 20 cents/b lower at $72.61/b, while the September NYMEX WTI crude settled 43 cents/b lower at $67.20/b. In refined products, September NYMEX RBOB slipped 2.45 cents to settle at $2.0147/ga...>>>
Americas petrochemicals outlook, w/c Aug 13 Aug 14,2018
AROMATICS The US benzene market may see continued pressure from the downstream styrene market heading into the week after LyondellBasell-Covestra declared force majeure on production from its propylene oxide styrene monomer unit at Maasvlakte, the Netherlands. US styrene exports emerged last week in light of the production issues at Maasvlakte, an...>>>
US hot-rolled coil steel prices fall to lowest level since June 1 Aug 14,2018
Houston — US hot-rolled coil prices fell to the lowest level since June 1 as mills lower prices while buyers hold off on orders, sources said Monday. The daily Platts TSI US hot-rolled coil assessment fell by $7.25/st to $894/st, while the daily Platts TSI US cold-rolled coil assessment dropped by $3.75/st to $1,000/st. The drop puts HRC at its ...>>>
US unconventional oil production seen growing by 93,000 b/d in September: EIA Aug 14,2018
Houston —US unconventional oil production is forecast to increase to 7.522 million b/d in September, up 93,000 b/d from August, the US government said Monday - the smallest month-on-month growth projection since November 2017 when domestic oil prices were about 20% lower than today. Last month, the US Energy Information Administration projected do...>>>
US corn inspected for export down 2% on week, up 65.7% on year: USDA Aug 14,2018
Houston — The amount of US corn inspected for export in the week ended August 9 was at 1.262 million mt, 2% lower week on week compared with 1.289 million mt inspected in the previous week, Department of Agriculture data showed Monday. The amount of corn inspected was 65.7% higher than the 761,317 mt in the year-ago week, according to the USDA's...>>>
Russian wheat exports up 90% at 4.6 mil mt in marketing year to August 8 Aug 14,2018
London — Russian wheat exports between the start of the marketing year on July 1 and August 8 were 4.63 million mt, up 90% on the year, Russian Agriculture Ministry data showed Monday. The faster pace than last year reflects an earlier-than-usual harvest as a result of hot, dry weather, which prompted farmers to begin much earlier than expected ...>>>
OPEC sees 33.40 mil b/d demand for its crude oil in H2 2018, but July output at 32.32 mil b/d Aug 14,2018
London — OPEC still has to show the market more crude oil barrels if it wants to avoid a supply squeeze later this year, the producer group's own analysis shows. In its closely watched monthly oil market report, OPEC's analysis arm forecast global demand for OPEC's crude at 33.40 million b/d for both the third and fourth quarters of 2018. Tha...>>>
Australian Aurizon's coal volumes via rail rise 7% on year in fiscal 2017-18 to 212.4 mil mt Aug 14,2018
Sydney — Australia's largest rail freight operator Aurizon carried 7% more coal by rail year on year in fiscal 2017-2018 (July-June) at 212.4 million mt, amid increases from both its Queensland and New South Wales operations, the company said Monday. In the thermal coal dominant region of Hunter Valley in New South Wales, Aurizon carried 52.3 mi...>>>