Chemical News
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Global hard coking coal prices to rise, sharper adjustment in Q3: Wood Mac Apr 27,2016
Global coking coal prices are expected to rise over the next few years at a more stable rate following a possible sharper price increase in third-quarter 2016 contracts, consultants Wood Mackenzie said Tuesday. With spot prices now hitting around $100/mt FOB, participants should be expecting a sharp adjustment for the quarterly benchmark from t...>>>
Steel sheet import prices into US higher; availability an issue Apr 27,2016
Import prices for hot-rolled and cold-rolled coil in the US continued to jump higher on Tuesday. However, market sources confirmed offers were scattered, and securing a firm commitment was difficult as international prices continued to increase. Hot-rolled coil import offers were hard to come by as some buyers noted earlier Turkish offers at pr...>>>
BofA Merrill Lynch raises 2016 silver forecast 8% to $16.47/oz Apr 27,2016
Analysts with Bank of America Merrill Lynch on Tuesday raised their 2016 average silver prices forecast 8% to $16.47/oz based on declining mine output and rising industrial demand. Bank analysts also changed their long-term forecast for 2022 to $19.71/oz from $18.56/oz based on the same improving fundamentals. "Our analysis shows that funda...>>>
Third May US butadiene CP nomination up 3 cents/lb from April: sources Apr 27,2016
The third May US butadiene contract price nomination was 3 cents/lb ($66/mt) higher than April, sources said Tuesday. The nomination was from Shell Chemicals, which would put its contracts at 33 cents/lb, sources said. Shell did not immediately return a message seeking comment. Shell's nomination follows ExxonMobil's May nomination of up ...>>>
Alliance says Q1 coal sales down 21.5% from a year ago, maintains 2016 outlook Apr 27,2016
Alliance Resource Partners saw thermal coal sales fall to 7.4 million st in first-quarter 2016, a 21.5% decline from a year ago, although prices showed a slight increase from late 2015, the company said Tuesday. During a conference call with analysts to discuss earnings, Joseph Craft III, president and CEO of the Tulsa, Oklahoma-based company, ...>>>
France-Spain cross border May capacity awarded at Eur11.02/MWh Apr 27,2016
A total of 990 MW of France-Spain May baseload was sold at auction at a price of Eur11.02/MWh while the corresponding Spain-France auction resulted in no capacity offered nor awarded, according to data published by European auction site Joint Allocation Office (JAO) Tuesday. The outcome of the auction was a large increase in the spread from a p...>>>
Q1 Canadian oil, gas drilling falls 40%: Precision Drilling Apr 27,2016
The number of oil and natural gas wells drilled in the first quarter of 2016 in Canada fell nearly 40% to 1,062, with there still being no signs of a bottoming out of oil prices, a leading drilling contractor said Monday. In the same quarter of 2015 the total number of wells drilled in Canada was 1,783, Kevin Neveu, CEO of Precision Drilling, s...>>>
UK wholesale natural gas prices climb as system tightens Apr 27,2016
UK wholesale natural gas prices climbed on the open Tuesday as the system opened short on the back of outages affecting supply allied to demand beating original forecasts. National Grid 10:00 am (0900 GMT) demand forecasts for Tuesday were up at 285 million cu m, some 88 million cu m higher than the seasonal norm, with physical flows running at...>>>
Oil complex settles higher despite oversupply concerns Apr 27,2016
The oil complex settled higher Tuesday, boosted by a weaker dollar after economic data released by the Commerce Department pointed to softening US growth, making the odds of a Federal Reserve interest rate hike this week less likely. June NYMEX crude settled $1.40 higher at $44.04/b, while June ICE Brent also received a boost, rising $1.26 to s...>>>
EU steel demand shadowed by imports, China WTO threat: Eurofer Apr 27,2016
The European steel industry is enjoying higher demand growth led by the auto sector, but industry group Eurofer warned imports were creating headwinds that may strengthen, with China gaining WTO status and hampering a rebound in regional steel output toward the 2007 peak. There is a "fragile recovery in Europe" and since 2014 demand conditions ...>>>