Chemical News
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LME launches off-warrant warehouse receipt system LMEshield Apr 29,2016
The London Metal Exchange has successfully launched LMEshield, its new tool which issues and manages electronic receipts relating to commodities stored off-warrant, the LME said Thursday. The first receipt was issued by Henry Bath & Son on behalf of BNP Paribas Arbitrage, the exchange said. At go-live, LMEshield is available in 19 jurisdict...>>>
World Bank sees iron ore prices falling 10% this year Apr 29,2016
Iron ore prices will fall 10% this year from 2015, the World Bank said in its latest Commodity Markets Outlook. The bank is forecasting prices of $50/dry mt this year, down from $55.80/dmt last year. It expects prices to average $51.50/dmt in 2017. Iron ore prices rose 3% in the first quarter, driven by a 33% increase in February/March am...>>>
Freeport's Q1 Cerro Verde copper output nearly triples on expansion Apr 29,2016
Freeport McMoRan said its Peruvian unit nearly tripled first-quarter copper production after bringing online a $4.6 billion expansion. Copper production jumped to 272 million lb in Q1 from 107.2 million lb a year earlier, while copper sales jumped to 262.6 million lb from 109.9 million lb, the Sociedad Minera Cerro Verde unit said Thursday in a...>>>
EIA says coal drops to 29.6% of US energy mix on generation declines Apr 29,2016
Coal dropped to 29.6% of US utility-scale power generation in February as natural gas and renewables each captured greater market share, the US Energy Information Administration said Thursday. The agency's Electric Power Monthly showed that coal generation totaled 92.9 GWh in February, down 18.3% from January and 26.9% from the same month a y...>>>
PJM capacity performance auction process facing more challenges Apr 29,2016
The PJM Interconnection's capacity performance auction process continues to face challenges, and some stakeholders want to take a methodical, comprehensive approach to overcoming those challenges without creating unintended consequences. Those were among the points discussed at Wednesday's meetings of the Markets and Reliability Committee and t...>>>
Argentina's Enarsa cancels LNG buy tender due to low offers Apr 29,2016
Argentina's Enarsa has canceled a buy tender looking for nine DES LNG cargoes between June and August, market sources said, citing lower than hoped offers as the primary reason for not awarding the tender. Enarsa wasn't immediately available to comment on the matter. "I think it is mainly because of the prices," said one Atlantic trader. ...>>>
US Gulf Coast gasoline prices reach eight-month high on refinery issues Apr 29,2016
Another unexpected refinery outage Thursday on the US Gulf Coast helped push gasoline prices to their highest levels in nearly eight months. Conventional 9 RVP gasoline was assessed Thursday at NYMEX June RBOB minus 12.40 cents/gal, up 5.10 cents/gal from its monthly low on April 18. The benchmark's outright price was assessed at $1.487/gal...>>>
Coal stocks held by China's six key power generators up 0.2% in latest week Apr 29,2016
Combined coal stocks held by China's six key power generators in southern and eastern China averaged 11.489 million mt in the week to April 26, up 0.2%, according to a weekly report by Qinhuangdao Port on Thursday. The stocks were equal to 20.52 days of consumption at the six power generators, up 0.24 day week on week, the report said. Aver...>>>
100 Spot Commodities Price Chart - 27/04/2016 Apr 28,2016
It was assessed by SunSirs that in the tracked 100 spot commodities,35 commodities increased in prices, 20 fell and 44 remained unchanged on 27/04/2016.The largest rises were Coke (4.86%),Polysilicon (2.34%),Coking coal (2.11%),while the largest fall...>>>
EU ethanol carry promoting storage to be short-lived: traders Apr 28,2016
The opportunity to take advantage of the contango structure in the T2 ethanol market by storing is unlikely to last long, according to sources. T2 ethanol moved to a discount of Eur17.25/cu m versus the front-month paper contract Tuesday, down from Eur17/cu m Monday. The physical contract has been at a discount to the front-month paper contract...>>>