Industry News
Chemical Industry News
LatAm PP international prices steady to lower on weak demand, lower feedstock costs
SAO PAULO (ICIS)--International polypropylene (PP) prices were assessed as steady to lower across the region on the back of weak demand and lower feedstock costs. US November polymer grade propylene...
PE domestic prices lower in Argentina, Brazil; steady in other LatAm countries
SAO PAULO (ICIS)--Domestic polyethylene (PE) prices were assessed lower in Argentina and Brazil while being unchanged in other Latin American countries. In Argentina, prices dropped following the...
Minbos Resources signs funding and contract deals for Cabinda phosphate project
HOUSTON (ICIS)--Australian fertilizer firm Minbos Resources, who is advancing the Cabinda phosphate project in Angola, has signed the final term sheet for the project funding and the construction...
SHIPPING: Asia-US container rates fall, but average global rates rise as possible port strike nears
HOUSTON (ICIS)--Rates for shipping containers from east Asia and China to the US were flat to softer this week while global average rates rose by 6%, but the looming strike at US Gulf and East
CRUDE SUMMARY: Crude falls as OPEC+ extension of output cuts emphasizes oversupply concerns
OPEC+’s extension of output cuts until April 2025 continues to build bearish sentiment US Bureau of Labor Statistics data showed nonfarm payrolls increased 227,000 in November VLCC tanker rates...
Europe PS and EPS price negotiations underway for December
LONDON (ICIS)--December contract price negotiations have started in the European polystyrene (PS) market, and the expandable polystyrene (EPS) market, since upstream styrene contract prices settled...
Germany industrial production falls 0.3% in October
LONDON (ICIS)--Industrial production in Germany fell 0.3% month on month in October, according to statistical data released on Friday Month-on-month % change from September: Chemicals: -1.4% Autos...
Europe ABS and SAN contract price negotiations for December begin
LONDON (ICIS)--December contract price negotiations have started this in the European acrylonitrile butadiene styrene (ABS) market and the Europe styrene-acrylonitrile (SAN) market, since upstream...
EU-Mercosur trade agreement welcomed by chemicals producers but loose ends remain
SAO PAULO (ICIS)--EU chemicals trade group welcomed on Friday the “political agreement” between the 27-country bloc and the five-country bloc Mercosur on their free trade deal but, after being 25...
US economy adds 227,000 jobs in November, unemployment rate ticks up to 4.2%
HOUSTON (ICIS)--US total nonfarm payroll employment rose by 227,000 month on month in November; the unemployment rate ticked up to 4.2% (October: 4.1%) while the labor participation rate ticked down...
WEEKLY POWER OUTLOOK: Low wind, French strike could lift prices in week 50
LONDON (ICIS)--Week 50 is expected to bring below average temperatures and low wind across most Central and Northwest Europe, according to MetDesk forecasts on Friday. This could lift gas-fired...
Europe domestic acetone spot continues to trend lower in weak market
LONDON (ICIS)--Europe domestic acetone spot prices continue to edge lower in general this week, on the back of particularly weak demand and ample supply. DOMO’s force majeure on acetone and phenol...
Europe toluene December contract price assessed at a decrease
LONDON (ICIS)--The Europe toluene December contract price has been assessed at a decrease of $5/tonne, or around 0.6%, from November. With contract parties having confirmed neither settlement nor...
Europe methanol spot prices slip from March 2022 highs, production restarts pending
LONDON (ICIS)--European methanol spot prices edged down this week from March 2022 highs. Spot physical trading seen in the week on an FOB Rotterdam (Rdam) basis: Day Deal (€/tonne) Loading Trades...
German chem industry welcomes EU-Mercosur deal but fears long ratification process
LONDON (ICIS)--Germany’s chemical industry is welcoming the deal reached on free trade between the EU and Mercosur, chemical producers’ trade group VCI said on Friday but warned that the...
Plant status: Braskem issues PP force majeure at Schkopau, Germany
LONDON (ICIS)--Here is a plant status report: Name: Braskem Location: Schkopau, Germany Product: Polypropylene (PP) Capacity (tonnes/year): 365,000 Event start: End November 2024 Event finish:...
WEEKLY GAS OUTLOOK: Increased heating and power-driven gas demand likely in week 50
Below-normal temperature forecasts could support European gas prices in week 50, while uncertainty around European security of supply from January could drive volatility. On the supply side,...
Plant status: Petkim’s VCM unit offline in Turkey, company leans on imports for PVC production
ISTANBUL (ICIS)--Here is a plant status report: Name: Petkim Location: Aliaga, Turkey Product: Vinyl chloride monomer (VCM), polyvinyl chloride (PVC) Capacity (tonnes/year): VCM: 152,000, PVC:...
Plant status: Shell plans Q1 2025 turnaround at US phenol/acetone unit – sources
HOUSTON (ICIS)--Here is a plant status report: Name: Shell Chemicals Location: Deer Park, Texas, US Product: Phenol, acetone Capacity (tonnes/year): 363,000 (phenol), 225,000 (acetone) Event start:...
RFNBO rules could change before 2028
LONDON (ICIS)--The rules for producing renewable hydrogen, otherwise known as renewable fuels of non-biological origin (RFNBO), could change in the coming months, as stated by Hydrogen Europe chief...