Chemical News
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Vale wins battle to restart Onca Puma ops in Brazil as nickel prices soar Sep 16,2019
Brazilian miner Vale is to resume mine and plant operations at its Onca Puma nickel mine in Para state in northern Brazil, the miner announced late Thursday. This follows a ruling by the President of Brazil's Supreme Federal Court (STF) to suspend existing injunctions against operations at the site at Ourilandia do Norte, Vale said in a statemen...>>>
US LNG industry sees curbing emissions as key to its long-term future Sep 16,2019
LNG from the US can fuel power plants and help cut carbon emissions globally by displacing coal, but the gas industry needs to step up and address its own emissions issue -- methane -- the head of the International Energy Agency warned. Such investments, even those driven by stringent regulations, would have a nominal impact on the average cost ...>>>
Democratic presidential contenders take aim at Trump trade policy Sep 16,2019
Thursday night's Democratic Presidential Debate saw a smaller field of 10 remaining contenders, several of whom discussed steel and other tariffs, the impact on soybean trade, and China -- but mostly using the occasion to take shots at President Donald Trump's trade policy. Moderator George Stephanopoulos said they had received more than 100 que...>>>
Brazil peak harvest ethanol production outstrips demand Sep 16,2019
Peak harvest ethanol production has started to hamper domestic prices in the key Center-South region of Brazil, despite estimated demand for hydrous ethanol of around 2 billion liters in September. The extra ethanol production exceeded the available storage space limits and multiple mills in many regions were aggressively selling on Thursday. S...>>>
Argentinian farmers hold on to grains as political uncertainty prevails Sep 16,2019
Argentinian farmers are holding on to grains as political uncertainty ahead of the general election in October has led the peso to slide. Farmers have been skeptical of trading ever since President Mauricio Macri, known to be more trade friendly than his predecessors, was beaten by Peronist Alberto Fernandez in primary presidential elections on ...>>>
Crude futures rangebound amid Iran sanction talks, IEA report; Brent at $60.31/b Sep 16,2019
Crude oil futures remained rangebound Friday in mid-morning European trade, as the market digests the possibility of sanction relief on Iran and the International Energy Agency's bearish supply and demand report, implying a supply glut in early 2020. At 12:21 BST (1121 GMT), ICE Brent November crude futures edged down 7 cents/b from Thursday's s...>>>
UK retail energy supplier OVO buys SSE Energy Services Sep 16,2019
Independent UK supplier OVO Energy is set to become the UK's second largest energy provider after agreeing to buy SSE Energy Services for GBP500 million ($623 million). The proposed deal, announced Friday, would see 3.5 million SSE household customers (equating to over 6 million accounts) transferred to OVO, which has 1.5 million customers. Onl...>>>
US wheat net export sales nearly double on week, Philippines books large order Sep 16,2019
US wheat net export sales totaled 610,948 mt in the week-ended September 5, up 95.8% week on week led by large bookings from the Philippines, latest data from the US Department of Agriculture showed Thursday. The latest weekly sales were above market expectations. Analysts had estimated sales in the range of 250,000-600,000 mt. The Philippines ...>>>
100 Spot Commodities Price Chart - 13/09/2019 Sep 16,2019
It was assessed by SunSirs that in the tracked 100 spot commodities,1 commodities increased in prices, 1 fell and 98 remained unchanged on 13/09/2019.The largest rises were Rapeseed oil (0.30%),while the largest falls were PTA (-0.28%). >>>
UN climate summit promotes global cuts in coal-fired generation, endorses renewables Sep 24,2019
The United Nations launched its Climate Action Summit on Monday that is expected to promote a cut in coal-fired power generation while endorsing the use of renewables to help meet global power demand. Despite the fact that the US government pulled out of the 2015 Paris Agreement, the organizers of the UN event credited, in part, US corporations ...>>>
Britain, France, Germany blame Iran for Saudi oil attacks Sep 24,2019
The leaders of Britain, France and Germany on Monday blamed Iran for the September 14 attacks on Saudi oil facilities, following pressure from the US to boost international pressure on the Iranian regime. "It is clear to us that Iran bears responsibility for this attack," French President Emmanuel Macron, British Prime Minister Boris Johnson an...>>>
No post-2020 Russian-Ukraine gas transit now 'base scenario': Naftogaz Sep 24,2019
Ukrainian natural gas company Naftogaz has adopted a "zero transport" base scenario as a result of its negotiations with Russia's Gazprom for the transit of Russian gas to Europe from January 2020, Naftogaz Managing Director Yuriy Vitrenko said Monday. Political events have shaped the relationship between Gazprom and Naftogaz over a number of y...>>>
H1 copper supply deficit hits 220,000 mt: ICSG Sep 24,2019
The global refined copper market ended the first half of 2019 with a supply deficit of about 220,000 mt, according to preliminary data the International Copper Study Group released Monday. Factoring in changes to unreported, bonded stocks in China, the deficit likely totaled 190,000 mt, the Lisbon-based research group said. World mine productio...>>>
Americas petrochemicals outlook, w/c Sep 23 Sep 24,2019
US OLEFINS US ethylene participants came into this week assessing how recent production issues brought on by Tropical Depression Imelda last week will impact the market. The ethylene spot market reached a year high of 27 cents/lb last week before coming back down on Friday. Meanwhile, the US propylene market still awaits news of Dow's Freeport, Te...>>>
Poland's Gaz System in talks with US LNG producer to supply new FSRU project Sep 24,2019
A US LNG company has already expressed interest in supplying a new Polish floating, storage and regasification unit planned to be build in Gdansk Bay, according to Jakub Przyborowicz, coordinator of the Brussels office at Gaz System, speaking on the sidelines of the 13th Annual European Gas and LNG Summit in Amsterdam on Monday. The recently ann...>>>
Olin conducting turnaround at Texas EDC plant: source Sep 24,2019
Olin was conducting a turnaround at its 748,000 mt/year ethylene dichloride plant in Freeport, Texas, a source familiar with company operations said. The turnaround was expected to reduce EDC oversupply when prices have been under pressure amid seasonally high chlor-alkali rates, market sources said. Olin, the world's largest chlor-alkali produc...>>>
Nigeria plans to reduce stake in oil JVs in bid to spur growth Sep 24,2019
Nigeria's new oil minister wants to reduce the government's stake in its joint venture oil business with foreign companies in a bid to spur more foreign investment in Africa's largest oil producer. Minister of State for Petroleum Timipre Sylva said in a statement Sunday that reducing the government's stake to 40% from 55%-60% was one of his main...>>>
Shipping industry eyes clean fuel switch in October: sources Sep 24,2019
A large section of the shipping industry will take pre-emptive steps to ensure compliance with the International Maritime Organization 2020 sulfur cap on marine fuels, ending purchases of high sulfur fuel oil in October and switching to shorter routes to reduce the risk of being caught out, market sources said. While some are queuing up for gett...>>>
100 Spot Commodities Price Chart - 23/09/2019 Sep 24,2019
It was assessed by SunSirs that in the tracked 100 spot commodities,31 commodities increased in prices, 22 fell and 47 remained unchanged on 23/09/2019.The largest rises were BR (2.78%),Silver (1.95%),Hydrochloric acid (1.85%),while the largest falls w...>>>
Brent/Dubai EFS tightens as OPEC capacity concerns linger Oct 09,2019
Benchmark Dubai crude futures' discount to ICE Brent continued to narrow midweek Wednesday in Asia, as limitations to OPEC's spare capacity came under the spotlight with the release of the US Energy Information Administration's monthly report. At 10 am in Singapore (0200 GMT), the December Brent/Dubai Exchange Futures for Swaps spread, or EFS, h...>>>