Chemical News
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Crude oil futures slip ahead of US stocks data release Oct 11,2018
Singapore — Crude oil futures were lower during mid-morning trade in Asia Wednesday ahead of the release of US crude inventory data that was expected to show a build, while supply concerns stemming from looming Iran sanctions and a hurricane in the US Gulf Coast stemmed the decline. At 10:30 am Singapore time (0230 GMT), the December ICE Brent c...>>>
Philippines Sep domestic ethanol reference price drops 5% on month to Pesos 55.07/liter Oct 11,2018
Singapore — The Philippines domestic bioethanol reference price dropped 5.23% on the month to Pesos 55.07/liter, which is equivalent to $1,101.40/cu m, in September, data released Tuesday by the Sugar Regulatory Administration showed. This was the first monthly drop in domestic ethanol prices in over nine months, the data showed. Domestic ethano...>>>
CFR North China iron ores hit new highs on strong restocking demand Oct 11,2018
Singapore — Seaborn medium and high grade iron ore prices on CFR North Asia basis reached new highs Tuesday on strong demand from Chinese steel mills, who were restocking ahead of the winter season, market sources said. S&P Global Platts assessed the 62% Fe Iron Ore Index at $70.55/dry mt CFR North China Tuesday, up $1.15/dmt from Monday, crossi...>>>
Global clean energy investment down 6% year-on-year in Q3 at $68 billion: BNEF Oct 11,2018
London — Global investment in clean energy fell 6% on year in the third quarter to $67.8 billion with spending for the first nine months now down 2% on the same period a year ago, Bloomberg New Energy Finance (BNEF) said in a quarterly report published Tuesday. The report comes after the International Energy Agency warned Monday that global rene...>>>
Shipment delays for Newcastle coal cargoes on lingering rail issues: sources Oct 11,2018
Perth — A collision between two coal trains on the Hunter Valley coal railway between Muswellbrook and Singleton on September 26 was causing some overhanging issues to Australian coal shipments at Newcastle port, sources said Wednesday. This is despite the rail line having reopened to train traffic on October 1 after repairs to 100 meters of tra...>>>
Russia's Nov ESPO Blend crude oil exports fall 4% on month at 2.6 mil mt Oct 11,2018
Singapore — Russia's exports of the medium sweet ESPO Blend crude in November are expected to total 2.6 million mt, down 3.7% from October, according to the latest monthly loading program. ESPO Blend's November program runs from October 30 to December 1 and will comprise 26 cargoes of 100,000 mt each. In comparison, the October program, which r...>>>
European, Asian naphtha cracks plunge to $81.20/mt on fundamental weakness Oct 11,2018
London — Naphtha cracks in Asia and Europe plunged Tuesday as both regions struggled to offload excess barrels amid lackluster demand. In Asia, the H1 December CFR Japan naphtha physical crack against front-month ICE Brent crude futures retreated $8.225/mt on the day to $81.20/mt on Wednesday's Asian close, the lowest level in three months. The...>>>
100 Spot Commodities Price Chart - 10/10/2018 Oct 11,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,39 commodities increased in prices, 19 fell and 42 remained unchanged on 10/10/2018.The largest rises were Phenol (3.13%),MTBE (3.04%),Acetic acid (2.24%),while the largest falls were ...>>>
China data: Russian crudes top independent refiners' supply list in Sep Oct 12,2018
Singapore — Russian crude oil shipments to China's independent refineries surged 90.4% on month to 1.59 million mt in September, replacing Brazil at the top of the suppliers' list for the sector, S&P Global Platts monthly survey showed. Around 1.39 million mt of ESPO, or 87% of Russian imports in September, had been imported by 10 independent re...>>>
Canada to introduce 25% tariff on certain steel imports Oct 12,2018
The Canadian government said Thursday it will introduce a provisional 25% tariff on certain steel imports, beginning October 25, in an effort to prevent the diversion of cheap foreign steel imports into the country. The new tariff will apply to seven imported steel products -- heavy plate, rebar, energy tubular products, hot-rolled coil, pre-pai...>>>
Rebar price in Osaka rises as supply tightens in wake of Japanese typhoon Oct 12,2018
Market prices of base-sized rebars in Osaka in western Japan rose Yen 1,000/mt ($9/mt) this week to Yen 67,000-68,000/mt ($598-607/mt), the first increase since July, in the wake of a typhoon, sources said Thursday. Rebar producers in the area were impacted by a major typhoon that battered western Japan in early September, shutting some mills du...>>>
Japan ferrous scrap tender sees first non-award in 14 years on low bids Oct 12,2018
The Kanto Tetsugen Cooperative Association, a group of Tokyo regional scrap distributors, has withdrawn its allocation of H2 grade scrap for export by end November after deeming all bids received in its latest monthly tender too low, an association official said Thursday. It was the first time since June 2004 that the association has opted not t...>>>
Pakistan's PSO likely to skip Nov fuel oil buying as country continues shift to LNG Oct 12,2018
State-owned Pakistan State Oil is likely to skip fuel oil imports for delivery in November as the country's power generation sector continues its shift to LNG, a company source said this week. PSO has bought just 65,000 mt of 180 CST high sulfur fuel oil with maximum sulfur content of 3.5% for October delivery to Port Qasim, and did not purchase...>>>
Singapore's SGX plans launch of new high grade iron ore derivatives in Dec Oct 12,2018
Singapore Exchange plans to launch new high grade iron ore swaps and futures contracts in December, referencing Fastmarkets MB's 65%-Fe Brazilian fines index, SGX said Thursday. Details on the new contracts have yet to be made available and the launch of the derivatives is subject to regulatory approval. The availability of a new hedging tool f...>>>
Iron ore 62%-65% Fe spread expected at over $20/dmt in 2019: Wood Mac Oct 12,2018
High grade iron ore prices may remain at a premium of over $20/dry mt next year for 65% Fe grade against benchmark 62% Fe fines, according to Wood Mackenzie price forecasts. Consultancy Wood Mac said its benchmark 62% Fe fines price forecast for 2019 is "broadly in line with the year-to-date price of $68/dmt CFR China," in a report sent by email...>>>
Iran says crude oil output down 50,000 b/d from May, secondary sources say down 380,000 b/d Oct 12,2018
OPEC, which has resisted the US' calls to fully unleash its spare crude oil production capacity, presented another bearish outlook for the oil market Thursday, lowering its forecast of 2019 demand for the fourth straight month. Barkindo says oil market 'well supplied' Oil inventories grow for third straight month Demand growth seen weakening...>>>
Crude oil futures fall back further after US inventory build; ICE Brent down to $81.27/b, NYMEX WTI $71.79/b Oct 12,2018
Crude oil futures fell further in European trading Thursday, adding to the previous day's significant drop. At 1048 GMT, the front month ICE December Brent crude futures were down $1.82 from Wednesday's settle at $81.27/b, while the NYMEX November light sweet crude contract fell by $1.38 at $71.79/b. Brent lost $1.91 on Wednesday while WTI slid...>>>
US coal production totals 14.8 million st, down 2.7% on week: EIA Oct 12,2018
Weekly US coal production totaled an estimated 14.8 million st in the week that ended Saturday, down 2.7% from the prior week and 3.3% from the year-ago week, US Energy Information Administration data showed Thursday. Coal production in Wyoming and Montana, mostly made up of production from the Powder River Basin, totaled just shy of 6.8 million...>>>
100 Spot Commodities Price Chart - 11/10/2018 Oct 12,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,27 commodities increased in prices, 28 fell and 45 remained unchanged on 11/10/2018.The largest rises were Gasoline (1.19%),Palm Oil (1.19%),Steam coal (1.07%),while the largest falls ...>>>
China 2018 magnesium output seen lower on environmental controls: CNIA Oct 15,2018
Chinese refined magnesium output in 2018 is forecast at around 850,000 mt, down from realized output of 1.022 million mt last year, as output in various key production zones fell in recent months amid tight environmental controls, China Nonferrous Metals Industry Association said Friday. Despite an overall improved global economy this year, inte...>>>