Chemical News
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Argentina shale development moves forward, but still slow May 10,2016
Argentina has the potential to become a net exporter of oil and natural gas from its huge shale resources, a task that will require large investments not just by majors but also a lot of junior players, executives said Monday. "If Argentina does things right, it could become a big exporter of oil and gas," Arturo Vilas, general manager of Canad...>>>
Nigeria's NNPC records 3,153 vandalized points on oil pipelines over 12 months May 10,2016
State oil firm Nigerian National Petroleum Corp said it recorded 3,153 punctured points on its oil pipelines in the 12 months to end March, adding that continued crude and oil products losses were draining it financially. "Incessant vandalism and products theft have continued to destroy value and put NNPC at [a] disadvantaged competitive positi...>>>
China's copper inventory outweighs physical demand: BoA/ML May 10,2016
Record all-time high copper shipments in to China during March have not been met with physical demand, instead driven by increased speculation in the country, leaving a glut of inventory, Bank of America Merrill Lynch said Monday, as April imports dipped. China imported 450,000 mt of unwrought copper and copper products in April, up 4.7% on yea...>>>
100 Spot Commodities Price Chart - 06/05/2016 May 09,2016
It was assessed by SunSirs that in the tracked 100 spot commodities,22 commodities increased in prices, 32 fell and 45 remained unchanged on 06/05/2016.The largest rises were Nitric acid (2.76%),Coke (1.92%),Adipic acid (1.10%),while the largest fall...>>>
Exelon plans to close three Illinois nuclear units unless legislature acts May 09,2016
Exelon will close its economically challenged Clinton and Quad Cities nuclear power plants in Illinois in June 2017 and June 2018, respectively, if the Illinois Legislature does not establish a program to compensate carbon-free generating sources, the company said Friday. Many of Exelon's nuclear units, particularly those in Illinois, have been...>>>
Consolidation among keys to US coal industry recovery: CNX Coal VP May 09,2016
The US coal industry's road to recovery must be paved with consolidation, wiser capital investments and clearer contracts, Jim McCaffrey, senior vice president of energy marketing at CNX Coal Resources, said Friday. Speaking during the final day of the Eastern Fuel Buyers Conference in Orlando, Florida, McCaffrey said natural gas prices will ri...>>>
High benzene inventories keeps benzene-crude ratio below 2 May 09,2016
The US benzene-crude ratio has been consistently lower than 2 since April 20 as ample benzene supply has kept benzene prices from reacting to crude gains, sources said. This ratio was at 1.94 Thursday, based on S&P Global Platts pricing at $2.05/gal FOB US Gulf Coast for benzene and the NYMEX crude settlement at $44.32/b. US spot benzene su...>>>
Renewable Development Australia plans A$800 million bioethanol project May 09,2016
Renewable Development Australia is planning to tap the growing global market for bioethanol with an A$800 million ($598 million) project that will use purpose-grown feedstock to produce 344 megaliters/year of fuel, a company spokesman said Friday. RDA is currently seeking expressions of interest from potential investors to partner the Pentland ...>>>
Vale sets May term premium at $1/dmt for Brazilian Blend iron ore fines: sources May 09,2016
Brazilian iron ore miner Vale has raised its term premium for Brazilian blended fines, or BRBF, cargoes to $1/dry mt to an IODEX-based matrix for May delivery cargoes at port stocks, term buyers said Friday. BRBF is sold at several ports in China. The term differential was set at parity for April when Vale started selling at quayside bonded hou...>>>
May Argentinian HRC, CRC steel prices unchanged May 09,2016
The prices of Argentinian flat steel products were unchanged for May negotiations, even though production cuts are ongoing. Platts' 3.0-9.52 mm thick hot-rolled coil assessment was $680-$715/mt delivered Friday while the 0.7-1.73 mm thick cold-rolled assessment was $755-$790/mt delivered. Both exclude taxes. "In the short run there's no sig...>>>