Chemical News
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Alcoa cuts aerospace outlook; plans to trim jobs Apr 13,2016
Alcoa cut its 2016 outlook for the global aerospace market and said it would reduce its workforce, after the US-based metals company posted first-quarter net income of $16 million Monday, down 92% from a year ago, reflecting soft alumina and aluminum prices that weighed on earnings. Revenue tumbled by 15% to $4.9 billion in the January-March pe...>>>
Global physical gold markets grind along; eyes on new business: sources Apr 13,2016
The global physical gold market continues to grind along, with little optimism resonating with participants -- from producers to end-users -- with logistic firms and bankers looking for ways to sell, and distribute bullion, sources said this week in Dubai. At an industry event in the UAE, the mood was distinctly bearish, with few signs of life....>>>
CME Jan 1-Apr 11 coking coal paper trade volumes over 1 mil mt Apr 13,2016
Trading volumes in the metallurgical coal derivatives market has breached the 1 million mt mark between January 1 and April 11 as trading houses ramp up deal-making on greater hedging and speculative opportunities, the latest transaction data showed. Total volumes traded over the period were 1.01 million mt, data provided by the Chicago Mercant...>>>
Solution to steel crisis must be global, not local: US lawmakers Apr 13,2016
The current headwinds impacting the US steel industry are not just a domestic problem, but a global crisis, US lawmakers said Tuesday during a hearing on the state of the industry. At the start of a two-day hearing hosted by the Office of the US Trade Representative and Department of Commerce in Washington, a panel of lawmakers called on the US...>>>
Indonesia's April HBA thermal coal price up 1.4% from March Apr 13,2016
Indonesia's Ministry of Energy and Mineral Resources set its April thermal coal reference price, also known as Harga Batubara Acuan, at $52.32/mt FOB, up 1.4% from March. April's HBA price is 18.8% lower compared with the same period last year. The HBA is a monthly average price based 25% on the Platts Kalimantan 5,900 kcal/kg gross as received...>>>
UK day-ahead power contracts rise over 9% on tightened supply margins Apr 13,2016
UK day-ahead power contracts rose more than 9% Tuesday as the planned shutdown of two nuclear reactors combined with weakened wind power generation is likely to tighten supply margins. Baseload power for Wednesday delivery was assessed at GBP35.50/MWh before Platts 11:00 am London time close, up GBP3.10 from where Tuesday's price closed on Mo...>>>
LNG is set for significant growth in the global energy mix: IGU report Apr 13,2016
The expansion of LNG production capacity through 2020 is set to further increase the share of LNG in the world's future energy mix, according to the 2016 International Gas Union (IGU) World LNG Report, launched Tuesday at the LNG 18 Conference in Perth, Western Australia. "The LNG industry has developed to a point where the necessary foundation...>>>
Gasoil 0.1% Mediterranean forward curve in backwardation on physical tightness Apr 13,2016
The CIF 0.1% gasoil cargo market in the Mediterranean moved into backwardation Monday for first time in seven weeks on progressive tightening of supply options amid sustained end-user demand supported across the North African Countries, sources said. The last time the market structure was backwardated was February 24. In March, the contango...>>>
Canadian oil sands producers target single-digit sustaining capital Apr 13,2016
Alberta's leading oil sands producers are currently working on ways to reduce the sustaining capital for their projects in order to maintain global competitiveness and also attract investment, executives said Tuesday. Sustaining capital is the expenditure needed to keep an asset operating at its current level. With a sustaining capital of C...>>>
Chinese premier stresses need for structural reforms in steel, coal sectors Apr 13,2016
Chinese Premier Li Keqiang reiterated Monday the need for structural reforms in the steel and coal supply, even as he noted signs of returning demand. "Even though some industries are seeing an improvement in demand, restructuring efforts cannot be relaxed," Li told provincial governors, according to a report on the State Council's website....>>>