Chemical News
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European Commission proposes country-specific safeguards; hot-rolled coil goes global Jan 04,2019
The European Commission has notified the World Trade Organization that it proposes to introduce definitive tariff-rate quotas on a country-specific basis on the biggest steel-supplying countries, exempting hot-rolled coil imports, which would receive a global tariff-rate quota under the plan, according to an EC notification document obtained by S&P...>>>
Bolivia's Mutun receives $56 million investment from China's Eximbank Jan 04,2019
Bolivia's Mutun iron ore mine and steelworks project received its initial investment of $56 million, Empresa Siderurgica del Mutun (ESM) President Jesus Lara said Thursday. The $56 million investment came from the Export-Import Bank of China (Eximbank). Resources for the project currently total $546 million. The first expected amount for the pro...>>>
China's electrolytic manganese export prices up on expected restocking demand Jan 07,2019
Spot export prices for Chinese electrolytic manganese metal rose this week as offers from suppliers climbed on expectations of restocking demand ahead of the February 4-10 Lunar New Year holidays, sources said Friday. S&P Global Platts assessed Chinese 99.7% manganese metal at $1,960-$1,970/mt FOB China Friday, up from $1,920-$1,970/mt a week e...>>>
US propylene stockpiles surpass 5 million barrels Jan 07,2019
US propylene inventory moved above the 5 million barrels mark to end 2018 at a 41-month high, data released by the Energy Information Administration showed Friday. US non-fuel use propylene inventories for the week ending December 28 were at 5.077 million barrels, up 260,000 barrels from a week earlier. It was the third consecutive week for the...>>>
US natural gas storage drops mere 20 Bcf as deficit decline continues Jan 07,2019
US natural gas in storage fell by a mere 20 Bcf last week as mild weather combined with the holiday significantly dampened demand, while the storage deficit has contracted by 160 Bcf over the past two weeks, leading to weaker gas prices. Storage decreased by 20 Bcf to 2.705 Tcf for the week ended December 28, the US Energy Information Administra...>>>
EU carmakers oppose proposed definitive steel safeguards by the European Commission Jan 07,2019
The European Commission's proposal of definitive safeguard measures on steel imports was met with "regret" Friday by the European Automobile Manufacturers' Association (ACEA), which said the proposal would not consider the need of the automotive sector. "ACEA questions the need for such trade protectionist measures. In the automotive sector, acc...>>>
Thermal coal derivatives volume in 2018 down 9% to 1.55 billion mt: ICE Jan 07,2019
The volume of thermal coal derivatives traded and cleared on the ICE platform fell 9% to 1.55 billion mt in 2018, the lowest full-year total since 2014, according to data from ICE Futures Europe and electronic trading platform globalCOAL Friday. Total options traded in 2018 came to 304.37 million mt, down 24% to the lowest volume since 2013. In...>>>
Turkey's polypropylene imports in Nov at 129,913 mt, up 7% on year Jan 07,2019
Imports of polypropylene into Turkey increased by 7% year on year in November to 129,913 mt, according to the latest data from Turkstat. Saudi Arabia remained the largest supplier of polypropylene to Turkey with imports at 48,185 mt, up from 43,725 mt in November 2017. Imports from Egypt, the second largest supplier, also increased to 17,050 mt...>>>
Philippines domestic bioethanol price climbs on higher feedstock costs Jan 07,2019
The Philippine domestic bioethanol reference price climbed 1.85% on a biweekly basis to Pesos 54.54/liter ($1,090.80/cu m) in the first half of December, data released Friday by the Sugar Regulatory Administration showed. The increase arrested three months of consecutive monthly drops in the domestic ethanol price in the Philippines. The domes...>>>
China's Fuhaichuang returns to buy condensate for Mar after large Feb purchase Jan 07,2019
China's Fuhaichuang Petroleum and Petrochemical has re-emerged to seek condensate for its 5 million mt/year condensate splitter in Fujian, adding to its hefty purchases of more than 3 million barrels last month, and highlighting its growing weight in the Asian condensate market. The company is seeking an unspecified volume of condensate for Marc...>>>
US EV sales jump 72.5% on year in 2018, top 354,000 Jan 07,2019
With more than 35,000 electric vehicle sales and registrations reported thus far for the month of December, 2018 is looking to be a significant break-out year as an industry publication has reported total plug-in EV sales of more than 354,000 vehicles, or 72.5% more than the 199,000 EVs sold in the US in 2017. Sales of Tesla's three battery-powe...>>>
Russia's Feb ESPO Blend crude oil exports down 10% on month Jan 07,2019
Russia's exports of the medium sweet ESPO Blend crude oil in February are expected to total 2.4 million mt, down 10.45% from January, according to the latest monthly loading program. ESPO Blend's February program runs from January 30 to February 28 and will comprise 24 cargoes, each 100,000 mt in size. The February-loading rate will average 591...>>>
100 Spot Commodities Price Chart - 04/01/2019 Jan 07,2019
It was assessed by SunSirs that in the tracked 100 spot commodities,22 commodities increased in prices, 26 fell and 52 remained unchanged on 04/01/2019.The largest rises were Hydrochloric acid (12.20%),LPG (3.73%),DME(2.91%),while the largest falls wer...>>>
Taiwan's domestic scrap prices steady this week, at weak levels Jan 08,2019
Domestic ferrous scrap prices in Taiwan were unchanged this week, as scrap inventories for some major mills were still sufficient, although tethering amid the gloomy outlook for steel, Taiwanese market sources said. Major Taiwanese mini-mill Feng Hsin Iron and Steel kept its domestic scrap buying price at T$8,400/mt ($273/mt) for HMS I/II 80:20 ...>>>
Japan's November steel exports fall 7% on year to 2.97 mil mt Jan 08,2019
Japan's steel exports in November decreased by 7% year on year and by 5.2% from October to 2.97 million mt, latest data released by the Japan Iron and Steel Federation showed. Of the November exports, ordinary carbon steel totaled 1.9 million mt, down 4.3% year on year and 4.5% from October, while special steel exports fell 11.2% from a year ago...>>>
Indonesia sets Jan HBA thermal coal price at $92.41/mt, down 0.11% on month Jan 08,2019
Indonesia's Ministry of Energy and Mineral Resources has set its January thermal coal reference price, also known as Harga Batubara Acuan or HBA, at $92.41/mt, down 0.11% month on month, and down 3.28% year on year. China's import limitation impacted the seaborne thermal coal prices, according to the ministry's spokesman Agung Pribadi. The mini...>>>
Copper to hit $7,000/mt in 2019 despite weak start: Goldman Sachs Jan 08,2019
Global financial institution Goldman Sachs forecasts copper prices on the London Metal Exchange will hit $7,000/mt in 2019 despite weak prices at the start of the year, according to its research note seen by S&P Global Platts. LME three-months official copper prices marked $5,855-$5,860/mt on January 3, which was lower than the 2018 low of $5,86...>>>
India ports' thermal coal volumes in Apr-Dec up 17% from a year ago Jan 08,2019
India's 12 major government-owned ports handled around 78.24 million mt of thermal coal between April to December period, up 17% from the same period a year ago, according to latest data by the Indian Ports Association, or IPA released on Monday. Coking coal shipments in the first nine months of the current fiscal year April 2018 to March 2019 a...>>>
India's Oct 1-Dec 31 sugar output rises 6% on year: ISMA Jan 08,2019
India's sugar production recorded a 5.8% year-on-year rise to 11 million mt between October 1, when the crushing season began, and December 31, despite a drop in the number of mills undertaking cane crushing activities, the Indian Sugar Mills Association's latest data showed. A total of 501 mills undertook cane crushing activities this season d...>>>
Aluminum Bahrain exceeds 1 mil mt production target for 2018 Jan 08,2019
Aluminum Bahrain B.S.C. reached a production capacity of 1.01 million mt per annum in 2018 compared to 981,016 mt per annum in 2017, exceeding its annual production target of one million mt, the company said Sunday. "We also look forward to successfully complete the commissioning of Line 6 in 2019, which will take our production capacity to 1.5 ...>>>