Chemical News
-
100 Spot Commodities Price Chart - 15/10/2018 Oct 16,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,23 commodities increased in prices, 29 fell and 48 remained unchanged on 15/10/2018.The largest rises were Hydrochloric acid (1.87%),2-EH (1.76%),Bromine (1.55%),while the largest fall...>>>
China steel demand to see zero growth in 2019 at 781 mil mt: worldsteel Oct 17,2018
China's steel demand will remain flat on year at 781 million mt in 2019 as the nation's economy undergoes "rebalancing" and environmental regulations become more stringent, the World Steel Association said in a forecast Tuesday. This compares with its full-year growth forecast of 6% for 2018. Chinese demand may just roll over in the next year o...>>>
Global steel demand to grow 3.9% in 2018, 1.4% in 2019: worldsteel Oct 17,2018
Global steel demand is expected to grow 3.9% on year in 2018 and an additional 1.4% in 2019, the World Steel Association said Tuesday. It is expected to reach 1.66 billion mt in 2018 and 1.68 billion mt in 2019, according to worldsteel's October 2018 short range outlook released Tuesday at the organization's annual meeting in Tokyo. The group a...>>>
Japan's JFE Steel's US customers still paying 25% tariff: CEO Oct 17,2018
Despite the trade tension between the US and Japan due to Section 232 tariffs on US imports of steel, most US customers of Japan-based JFE Steel Corporation "continue to pay the 25% tariff", JFE president and chief executive officer Koji Kakigi told S&P Global Platts on the sidelines of the World Steel Association general assembly in Tokyo on Tuesd...>>>
Asia's 2019 term gasoil negotiations to consider several factors Oct 17,2018
The annual gasoil term price discussion for gasoil cargoes loading in East Asia in 2019 from key regional export hubs could see intense debate over late October to November. This is amid the higher than expected prompt cash differential, as well as demand uncertainty in the later half of next year, in the wake of the International Marine Organizati...>>>
Rio Tinto cuts 2018 aluminum output target 4.2% to 3.4 mil-3.5 mil mt Oct 17,2018
Rio Tinto Tuesday announced a downward revision of around 4.2% to its 2018 aluminum production guidance to 3.4 million-3.5 million mt due to industrial action at the Becancour smelter in Canada. The mining company said in its third-quarter results its previous target was 3.5 million-3.7 million mt. Rio Tinto's share of aluminum production from ...>>>
European forward power contracts fall as carbon sinks Oct 17,2018
Wholesale power contracts in Europe declined across the curve on Tuesday, with the year-ahead contracts shedding around Eur1/MWh from Monday's close, driven lower by falling carbon prices. The benchmark European power contract -- German year-ahead Calendar 2019 baseload -- fell Eur1.36 on the day to trade at Eur51/MWh in the European morning Tue...>>>
Northwest European mixed xylenes arbitrage to US open on paper, risks prevent physical trade Oct 17,2018
The mixed xylenes arbitrage window from Northwest Europe to the US Gulf is widening again on paper but the risks and logistical challenges of physically moving material has prevented traders taking advantage, market sources said this week. The gross profit calculated for moving MX from Europe to the US Gulf was $69.24/mt, based on a 5,000 mt ca...>>>
New Dutch-German power link's second circuit to go live Nov 10 Oct 17,2018
The second circuit of the new German-Dutch power interconnector will go-live November 10, grid operators TenneT and Amprion said. The two circuits of the new 380 kV cable between Doetinchem in the Netherlands and Wesel in Germany will boost transmission capacity by 1-2 GW, allowing more German surplus power to flow into the Dutch grid. "In orde...>>>
UK forward gas-fired margins plummet on 'no-deal' Brexit fears Oct 17,2018
The profit margins to run 50% efficient gas-fired plants in 2019 and 2020 hit record lows Monday with forward contracts experiencing a big sell-off after the British government said Friday that in the event of a "no-deal" Brexit the UK would be excluded from the EU's Emissions Trading System, traders said. The ETS is a mechanism for helping to l...>>>
Gold market catches break as traders cover short positions Oct 17,2018
Following a lackluster few months, gold was back in vogue this week, with the metal trading firmly above $1,220/oz, after languishing in a tight range of $1,190-$1,200/oz for months, sources said. "Gold is breaking out," one fund manager said, noting that he is relatively bullish on the metal going forward to the end of 2018. Commerzbank said i...>>>
100 Spot Commodities Price Chart - 16/10/2018 Oct 17,2018
It was assessed by SunSirs that in the tracked 100 spot commodities,29 commodities increased in prices, 30 fell and 41 remained unchanged on 16/10/2018.The largest rises were Acrylic acid (4.26%),Cement (1.30%),Methanol (1.25%),while the largest falls ...>>>
China, Australia electric vehicle chain mirrors iron ore trade Oct 18,2018
An ambitious Chinese growth initiative appears once again to be reliant on Australian raw materials. Stay up to date with the latest commodity content. Sign up for our free daily Commodities Bulletin. Sign Up China has made no secret of its ambitions to develop electric vehicles on a grand scale while Australia produces over half of the glob...>>>
Crude oil futures stable amid mixed cues Oct 18,2018
Crude oil futures were stable during mid-morning trade in Asia Wednesday, with mixed cues failing to provide clear price direction. A surprise draw in US crude inventory and a pick-up in equities markets helped buoy commodities prices, while news of expanded pipeline capacity in the US served to cap gains, market sources said. At 10:20 am Singa...>>>
Asia benzene/toluene price spread narrows to 2-year low amid benzene glut Oct 18,2018
The price spread between benzene and its feedstock toluene in Asia narrowed to more than a two-year low of $3.83/mt on Tuesday amid a benzene glut and firmer toluene prices due to tight inventory in East China after the National Day holidays early October, S&P Global Platts data showed. Healthy benzene/toluene spreads are typically in the $80-$1...>>>
France's EDF warns of strikes at remaining coal plants Oct 18,2018
French utility EDF warned of possible strikes at its three remaining coal-fired power plants with a combined capacity of 1.8 GW this winter, it said Wednesday in a note on EDF Transparency. "In the current context of the legislative process leading to the adoption of the PPE law, [unrest is] likely to happen at Cordemais 4, Cordemais 5 and Le Ha...>>>
North Sea crude oil shows resilience, differentials firm on Asian arbitrage window Oct 18,2018
The North Sea crude oil complex has firmed to fresh highs, supported by bidding interest for most of the BFOE grades in the Platts Market on Close process prompted by a window of arbitrage opportunity from Europe to Asia. North Sea grades have proven resilient relative to the wider European sweet crude oil market, where streams like Kazakh CPC B...>>>
European Commission opens call for next EU power projects of common interest list Oct 18,2018
The European Commission is inviting applications for the next round of electricity projects to be designated EU projects of common interest, which benefit from faster permitting procedures and access to EU funding. Only power projects included in formal EU power grid operators' body Entso-e's ten-year network development plan can be put forward ...>>>
London Metal Exchange aluminum on-warrant stocks rise on backwardation fears Oct 18,2018
LME aluminum on-warrant stocks on the London Metal Exchange have jumped since the beginning of the week by 162,250 mt, or 26.4%, to 775,825 mt, LME data showed Wednesday. The two consecutive increases came after weeks of continuous inventory falls which saw on-warrant stocks reaching multi-year lows. "The jump on warrants -- I am not sure if i...>>>
UK natural gas imports from Norway hit six-month high Oct 18,2018
Norwegian natural gas exports to the UK jumped to their highest in six months Wednesday as consistently high UK prices incentivized flows normally only reserved for wintry periods. Supply through the Langeled pipeline, which makes landfall at the UK's Easington terminal, has sustained maximum throughput since reaching its technical capacity of 7...>>>