Asian acetone prices bounce back from slump to rise $160-$170/mt
Singapore — Acetone prices bounced back from a prolonged slump this week, rising $160-$170/mt to $1,170-$1,180/mt CFR China (including anti-dumping duties). Sluggish demand in China had kept
Publication Date: JUN 2008
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Biofuel needed to prevent greater oil price rises, say producers
Singapore — Crude oil prices could move even higher if biofuel subsidies were to be scrapped, biofuel proponents told Platts this week in response to recent criticism
Publication Date: JUN 2008
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China's SM, EPS stocks rise on slow earthquake relief efforts
Singapore — Chinese styrene monomer and expandable polystyrene stocks have risen as earthquake relief efforts were moving slower than expected, market sources said June 24.
Publication Date: JUN 2008
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Dow Chemical to idle 40% of European styrene capacity
London — Dow Chemical Co said June 24 it will idle 40% of its styrene capacity in Europe in reaction to what it calls the "relentless rise
Publication Date: JUN 2008
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High naphtha, energy to cap Japan chemical maker profits: Moody's
Singapore — Ongoing increases in naphtha and energy costs will lead to a peaking of earnings by Japan's integrated chemical companies, though measures they have taken in
Publication Date: JUN 2008
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House panel postpones contempt vote on EPA, White House officials
Houston — A prominent US House of Representatives committee postponed a Friday vote to find two top Bush administration officials in contempt of Congress, after the White
Publication Date: JUN 2008
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Huntsman slaps Apollo, partners with $3 billion fraud lawsuit
Houston — US chemicals company Huntsman said June 23 it has filed suit against private equity company Apollo and partners Leon Black and Joshua Harris in Conroe,
Publication Date: JUN 2008
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Israel's Oil Refineries taking full control of Carmel Olefins
Jerusalem — The board of directors of Israel's Oil Refineries Ltd has approved the acquisition of Israel Petrochemical Enterprises holdings in Carmel Olefins, bringing Oil Refineries overall
Publication Date: JUN 2008
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NWE ETBE prices up as buyers cover biofuel mandates
London — The flat price of gasoline blendstock ETBE surged to a high of $1,607/mt June 23 in Northwest Europe — the highest point since Platts began
Publication Date: JUN 2008
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Shell, PetroChina, Qatar Petroleum to study refinery, petchem JV in China
Singapore — Shell, Qatar Petroleum International and PetroChina have signed a letter of intent to conduct joint preliminary studies to assess the viability of building a refinery
Publication Date: JUN 2008
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Some shipping in Asia delayed by Typhoon Fengshen
Singapore — The movement of oil tankers from the Persian Gulf into east Asia has been affected by Typhoon Fengshen, which entered the South China Sea on
Publication Date: JUN 2008
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Traders line up for Petkim's July Crude C4 sell tender
London — International traders are lining up to bid for a crude C4 sell tender offered by Turkey's Petkim in early July, market sources have reported.
Publication Date: JUN 2008
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US spot ethanol prices softer as delivery woes from floods ease
Houston — Spot ethanol prices were weaker June 25 in New York and elsewhere in the US, with delivery problems associated with recent flooding in the Midwest
Publication Date: JUN 2008
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Asia's PTA makers mull more run cuts as paraxylene CP soars
Singapore—Asia's purified terephthalic producers have threatened to further slash their production rates if paraxylene contract prices for July settled near the $1,750-1,770/mt CFR Asia levels nominated.
Publication Date: JUN 2008
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Australia's Orica to build Indonesia ammonium nitrate plant by 2011
Sydney—Australia's Orica plans to build a 300,000 mt/year ammonium nitrate plant at Bontang, east Kalimantan, Indonesia by 2011, a spokesman for the chemicals, explosives and mining services
Publication Date: JUN 2008
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China's Qingdao Lidong to export paraxylene, benzene by late-2008
Singapore—China's Qingdao Lidong Chemical plans to export paraxylene and benzene by end-2008 after it obtains approval from the authorities to produce under the country's processing trade regulation,
Publication Date: JUN 2008
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Europe's crude C4 availability down 20% due to light cracker runs
London—Europe's crude C4 availability has fallen by approximately 20% on the year due to light cracker runs and production economics, a market source said June 13.
Publication Date: JUN 2008
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European MEG suppliers face big squeeze on potential ethylene CP spike
London, Singapore--Following the settlement of the European bi-monthly ethylene contract at Eur1,105/mt FD NWE, a Eur75/mt increase on the previous agreement, mono ethylene glycol suppliers in Europe
Publication Date: JUN 2008
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Fire-hit Wuxi Xingda to liquidate at least 10,000 mt SM: sources
Singapore—Major Chinese expandable polystyrene producer, Wuxi Xingda is likely to start selling styrene monomer spot cargoes in the spot market in an effort to bring down its
Publication Date: JUN 2008
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France's biggest oil, petrochemical ports paralyzed by strikes
Paris—France's biggest oil ports of Fos and Lavera remained paralyzed Tuesday after dockers, port staff and handlers at ports around the Marseille hub walked out again to
Publication Date: JUN 2008
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Oil likely to hit $160/b this year on tight supply: Merrill Lynch
New York—Crude oil prices are likely to hit $160/barrel this year as global supplies remain constrained due to a lack of new investments, a rise in world
Publication Date: JUN 2008
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S Korea refiners, LPG importers in price collusion probe
Seoul—South Korea's antitrust watchdog has launched a probe into allegations that the country's oil refiners and gas importers have colluded to raise domestic prices of liquid petroleum
Publication Date: JUN 2008
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S Korea's Honam, Lotte Daesan merge sales, purchasing divisions
Sydney—South Korea's Honam Petrochemical and Lotte Daesan have merged their sales, marketing and purchasing divisions ahead of a planned complete merger of the two companies scheduled for
Publication Date: JUN 2008
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S Korea's Samsung Total to turn propylene seller from September
Sydney—South Korea's Samsung Total Petrochemicals, which currently buys 50,000 mt/year of propylene, will have surplus capacity when its new olefins conversion unit at Daesan is fully on
Publication Date: JUN 2008
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Shell to close Deer Park solvents operations by November 1
Houston—Shell Chemicals said June 17 it will close its Deer Park, Texas solvents operation by November 1. The Deer Park Solvents operation includes isopropyl alcohol, isopropyl ether
Publication Date: JUN 2008
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South Korean ports suffer as truckers strike over diesel prices
Seoul—South Korean ports remained paralyzed June 18 as a nationwide strike by truckers entered its sixth day with no breakthrough in negotiations since June 13.
Publication Date: JUN 2008
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US ethanol producers shutting in on corn price hike: analysts
New York—Five US ethanol plants recently shut on rising corn prices and "fairly massive shutdowns are in the offing," according to Citi analysts who on the week
Publication Date: JUN 2008
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Volatility has Europe's olefin producers longing for monthly CP
London—Continued volatility and unprecedented strength in the European naphtha flat price coupled with rapidly narrowing cracker margins, has the region's olefin producers arguing for a return to
Publication Date: JUN 2008
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Asian PE, PP prices soar more than $100/mt amid tight supplies
Tokyo — Asian polyethylene and polypropylene prices increased more than $100/mt from the previous week amid extremely tight supplies in China, market sources said June 10.
Publication Date: JUN 2008
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Asian benzene touches $1,340/mt FOB Korea for first time June 9
Singapore —The price of benzene on an FOB Korea basis hit $1,340/mt for the first time during afternoon trading in Asia June 9, surging to an all-time
Publication Date: JUN 2008
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Buyers shy away as Europe ethanol sellers raise price
London — Despite a concerted effort by European ethanol sellers to raise prices by around $15/mt for prompt material, buyers shied away as they anticipated a drop
Publication Date: JUN 2008
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Confirmed deals June 9
Confirmed deals June 9:
Publication Date: JUN 2008
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Crude phenol spill threatens water supply in S China city
Singapore — Crude phenol from an overturned truck is threatening the drinking water supplies of more than 200,000 people in the Baise City region of South China's
Publication Date: JUN 2008
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Details of anti-dumping duties
Details of anti-dumping duties:
Publication Date: JUN 2008
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European ETBE prices hit all-time high on gasoline surge
London — European ETBE flat prices hit an all-time high, June 6, of $1,593/mt FOB AR, Platts data shows, rising sharply with the surge in gasoline prices
Publication Date: JUN 2008
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Formosa Plastics declares force majeure on US polypropylene
New York — Formosa Plastics Corp has declared a force majeure on branded Formolene polypropylene products in the US from June 9, according to a letter obtained
Publication Date: JUN 2008
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Ineos Chlorvinyls cuts back PVC run rates on poor economics
London — Ineos Chlorvinyls has reduced operating rates at its major 320,000 mt/year Wilhelmshaven and 245,000 mt/year Newton Aycliffe polyvinyl chloride plants due to high operating costs,
Publication Date: JUN 2008
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Japan's ethylene producers post lower profit amid weak margins
Tokyo—The combined operating profit of Japan's ethylene producers dropped 33.3% for the 2007 fiscal year (April 2007-March 2008) to Yen 229.8 billion ($2.2 billion) amid high naphtha
Publication Date: JUN 2008
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NWE phenol suppliers struggle with Eur97/mt rise in benzene CP
London — European phenol producers were struggling to pass through the majority of the Eur97/mt ($151/mt) increase in June feedstock benzene contracts as demand remained weak amid
Publication Date: JUN 2008
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Oil market tight but record prices crimping demand: IEA
London— World oil prices could soften from recent record highs in the coming months amid clear signs that surging pump prices are crimping demand and as new
Publication Date: JUN 2008
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S Korea petchem deliveries, plant runs to be disrupted by strike
Tokyo —South Korean petrochemical producers were expected to face disruptions in domestic product deliveries and exports due to the planned strike on June 13 by truck drivers,
Publication Date: JUN 2008
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Taiwan's Chang Chun avoids acetone anti-dumping after agreement with China
Singapore—Taiwan's Chang Chun Plastics has entered into an agreement with the Chinese government to sell its acetone to China "within acceptable levels," in exchange for being exempted
Publication Date: JUN 2008
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US truck, rail companies 'significantly' increase fuel surcharges
Houston—Reflecting bullish crude and diesel fuel prices, truck companies were tacking on 20-42% surcharges to customers' base rates while rail operators were adding 22-30%, several sources reported.
Publication Date: JUN 2008
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USDA raises price forecast for key ethanol feedstock corn
New York— The US Department of Agriculture, June 10, raised its corn price estimate for the 2008/2009 season, and said poor planting conditions may tighten US corn
Publication Date: JUN 2008
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Asia's PTA negative cash margins worsen (CFR China $/mt)
Asia's PTA negative cash margins worsen (CFR China $/mt)
Publication Date: JUN 2008
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Asian toluene market sentiment shifts on views of crude downturn
Singapore—Discernible shifts in sentiment in the Asian toluene market were observed Monday morning on views of a downturn in upstream crude oil prices, market sources said.
Publication Date: JUN 2008
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China may cap EPS prices to ease quake rebuilding costs
Singapore—Chinese domestic expandable polystyrene prices may be capped to keep costs from rising in light of increased demand due to post-earthquake reconstruction needs in Sichuan, sources said.
Publication Date: JUN 2008
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China methanol braces for fall on weaker futures, buyers' retreat
Singapore—Chinese domestic methanol prices appeared set for a decline following a spectacular rally the past four weeks, faced by selling pressure in the futures market and the
Publication Date: JUN 2008
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EC opens European Chemical Agency to implement REACH
London—The European Chemicals Agency which is responsible for managing the implementation of the REACH requirements--concerning the registration, evaluation, authorization and restriction processes of chemical substances-- was officially
...
Publication Date: JUN 2008
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European olefins need 'responsive, monthly pricing': producers
Brussels—Continuing volatility in feedstock prices and recently seen disconnect in the direction of upstream and downstream price developments is leading to a reopening of discussion about monthly
Publication Date: JUN 2008
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Japan's cracker turnaround schedule for 2008
Japan's cracker turnaround schedule for 2008:
Publication Date: JUN 2008
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Japan's naphtha imports in April fall 20.7% on month: METI
Tokyo—Japan imported 1.034 million mt naphtha in April for producing ethylene, a drop of 20.7% month on month amid routine turnarounds, the latest data from the Ministry
Publication Date: JUN 2008
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May Pricescore
May Pricescore
Publication Date: JUN 2008
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Sinopec to cut ethylene output to increase oil supplies: report
Singapore—State-run China Petroleum and Chemical Corp, more commonly known as Sinopec, plans to reduce its ethylene output by 65,000 mt this month to increase oil supplies for
Publication Date: JUN 2008
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Strength in gasoline lends support to European naphtha: trade
London—The European open-spec physical naphtha market for June appears firmer in comparison to recent weeks, largely on the back of an improving gasoline complex, trading sources said
Publication Date: JUN 2008
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Taiwan, ExxonMobil settle paraxylene Asia CP at $1,440/mt, up $150/mt
Singapore/London—Taiwan's China American Petrochemical Co has agreed to a June paraxylene contract price with term-contract supplier ExxonMobil, one of its major suppliers, at $1,440/mt CFR Asia, a
Publication Date: JUN 2008
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Turkish tire workers start indefinite strike at four sites
London—Turkish trade union members have started indefinite strikes at four factories operated by tire companies Bridgestone, Pirelli and Goodyear, a union spokesman said June 3.
Publication Date: JUN 2008
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US propylene traders eye Europe to US arbitrage: sources
Houston—Opportunities opened up for propylene to export from Europe to the US within the last week to accommodate tightened supply, according to market sources.
Publication Date: JUN 2008
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APIC 2008: Benzene makers to 'suffer severe pain' on surplus capacity
Singapore— Benzene producers will likely "suffer severe pain" before some industry rationalization sets in, said Mark Fisler, executive vice-president for aromatics, fibers and methanol studies for Chemical
Publication Date: MAY 2008
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APIC: Experts warn of petchems downturn, cite history
Singapore— Get ready for a downturn in the petrochemical industry--this was the warning from some speakers at this year's Asia Petrochemical Industry Conference in Singapore on May
Publication Date: MAY 2008
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Chinese expandable polystyrene prices rise as peak season starts
Singapore— Domestic Chinese expandable polystyrene offers have risen to Yuan 14,000/mt ex-tank as the peak demand season gets under way. Offers increased by at least Yuan 200-300/mt
Publication Date: MAY 2008
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European PE producers adamant about major price hikes in June
London — European polyethylene producers May 28 stressed their intention of implementing substantial increases in polyethylene prices for June as unprecedented strength of upstream energy markets continued
Publication Date: MAY 2008
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European ethanol price rising on late Brazil sugar cane harvest
London — European ethanol import prices are approaching the $600/cubic meter mark, pushed up by expectations of tight supplies in June due to a delayed Brazilian sugar
Publication Date: MAY 2008
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ExxonMobil mulls petchem complex in Qatar, Saudi expansion
Singapore—ExxonMobil is conducting feasibility studies for a petrochemical complex in Qatar, and expansion of its petrochemical joint ventures in Saudi Arabia, basic chemicals vice president Matt Aguiar
Publication Date: MAY 2008
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Indonesia's Tri Polyta to raise PP capacity 72,000 mt by 2011
Singapore—Indonesian polypropylene producer Tri Polyta plans to increase its annual capacity by 72,000-90,000 mt by 2011, sources close to the company said May 27.
Publication Date: MAY 2008
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LME Plastics Official Stocks ending 28 May 2008
LME Plastics Official Stocks ending 28 May 2008
Publication Date: MAY 2008
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LME modifies plastics trading, aims for more liquidity
London —Polypropylene and polyethylene trading on the London Metal Exchange have been below expectations, according to Martin Abbott, Chief Executive of the LME, speaking May 28 in
Publication Date: MAY 2008
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No end in sight for fairy-tale oil rally, says top analyst
Singapore— No end seems to be in sight to a rally in crude oil prices that has started to resemble more closely the themes from children's story
Publication Date: MAY 2008
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S Korean petchems renew term naphtha deals at lower differentials
Singapore—South Korean petrochemicals producers Samsung Total, LG Chemical and Lotte Daesan have renewed term contracts to buy naphtha for the 12-month period from July 2008 at a
Publication Date: MAY 2008
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TCI Sanmar to set up 400,000 mt VCM plant in Egypt by 2009
New Delhi— Egypt-based TCI Sanmar Chemicals LLC is to set up a 400,000 mt/year vinyl chloride monomer plant at Port Said in Egypt by the end of
Publication Date: MAY 2008
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US' Wellman hopes to reorganize business, not sell company
New York — US polyethylene terephthalate producer Wellman Inc received a two-week extension from its Debtor in Possession financing until June 19 to have a bidding procedure
Publication Date: MAY 2008
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Weaker contango set to release more naphtha into Europe: sources
London — A weakening of the contango structure in the European naphtha market appears set to release more barrels into the region, which will in turn put
Publication Date: MAY 2008
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Artenius PET production hit by strike action in Greece
London — Europe's leading polyethylene terephthalate producer, Artenius of Spain, has been forced to bring down its 80,000 mt/year PET plant at Volos, Greece due to a
Publication Date: MAY 2008
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Asia OX outpace PA
Publication Date: MAY 2008
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Asia OX outpace downstream PA, spawning negative PA cash margins
Singapore — Asian orthoxylene prices have outpaced downstream phthalic anhydride values this week, inverting the usual price spread between the products.
Publication Date: MAY 2008
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BP hit by strike action on PTA at Geel, Belgium
London — Production of purified terephthalic acid at BP's site at Geel in Belgium was stopped late May 12 ahead of a planned walk out by its
Publication Date: MAY 2008
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China methanol market heats up on firm demand, speculation
Tokyo — China's domestic methanol market has fired up in the past week, with spot prices pushed up by a combination of firm demand for gasoline blending,
Publication Date: MAY 2008
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China quake leaves scores dead; people buried under two chem plants
Beijing, Singapore — A powerful earthquake measuring 7.8 on the Richter scale, has hit southwestern China, May 12, leaving tens of thousands of people dead or missing
Publication Date: MAY 2008
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China's polyester producers put pressure on MEG amid rising PTA
Singapore — Rising purified terephthalic acid costs in China are forcing fiber intermediate buyers to redirect pressure onto the prices of co-feedstock monoethylene glycol.
Publication Date: MAY 2008
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Firm demand pulls up US polyethylene export prices
New York — Strong export demand has increased prices on US low density, linear low density and high density polyethylene injection grade, sources said May 14.
Publication Date: MAY 2008
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| Platts Petrochemical Report |
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