Americas top stories - weekly summary

17 January 2011 15:00  [Source: ICIS news]

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 14 January 2011.

(Please click on the link to read the full text.)

US propylene for Jan surges 28% after drawn-out settlement
US polymer grade propylene (PGP) contracts for January surged by 28% after a drawn-out settlement process split the market on the chemical grade (CGP) side and widened the spread between the two grades to an unprecedented level, market sources said on Friday.

US MPG de-icer demand rises on winter blast - sources
Demand for US monopropylene glycol (MPG) de-icer is rising because of  blizzards across the northeast and parts of the southeast regions of the US, a buyer and a producer said on Thursday.

Formosa to continue supplying customers despite Texas LLDPE FM
Formosa Plastics declared force majeure (FM) on linear low-density polyethylene (LLDPE) from its Point Comfort plant in Texas but has not set any allocations on supply, a company spokesperson said on Thursday.

Strong demand supports Americas epoxy hikes - producer
Epoxy resins price hikes in the Americas are supported by strong demand, which is likely to increase late in the first quarter as construction activity in North America picks up, a producer said on Wednesday.

Bayer to shut controversial US methyl isocyanate unit in 2012
Germany-based agrochemical supplier Bayer CropScience will cease production of methyl isocyanate (MIC) at its plant in Institute, West Virginia,  by mid-2012, sources said on Wednesday.

Update: US panel says offshore oil errors systemic, more rules likely
The US presidential commission on the BP Gulf of Mexico oil rig disaster emphasised on Tuesday that the accident showed a systemic failure by the offshore energy sector, adding that broader rules to remedy those shortcomings likely will get approved by Congress.

Update: US oil group ‘deeply concerned’ by Gulf spill report
A US petroleum industry trade group said on Tuesday that it was “deeply concerned” by recommendations from the US presidential commission on the BP oil spill, arguing that the industry had already taken significant steps to improve safety.

US DuPont share price tumbles on Danisco deal
Shares of US-based chemical major DuPont fell on the announcement of its $6.3bn (€4.9bn) acquisition of Danish food additives and enzymes producer Danisco.

INEOS to shut down Texas ACN plant in February for maintenance
INEOS will shut down its Green Lake acrylonitrile (ACN) plant in Texas during February for maintenance, sources said on Monday.

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By: Staff Reporter
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