Americas top stories - weekly summary

Falling US PE spot prices foreshadow lower June contracts
US spot offers for some grades of polyethylene (PE) have emerged 19% below May contract prices, suggesting that falling feedstock costs and pressure from overseas imports will cause PE contracts to settle lower in June, buyers said on Friday.

US June barge acetone contract fully settled at fall of 15%
The June US barge acetone contract price fully settled at a decrease of 15% from May levels, buyers and sellers said on Friday.

 US Nexeo to focus on fundamentals versus M&A – CEO
Newly independent US-based chemical distributor Nexeo Solutions will first focus on developing its business model and proposition rather than on mergers and acquisitions (M&A), its chief executive said on Thursday.

Methanex mulls moving Chilean methanol plant to US or Canada
Methanex is considering moving one of its shuttered methanol plants in Chile to North America, a company executive said on Wednesday.

US proposes sharp cut in 2012 cellulosic ethanol use
US cellulosic ethanol usage could fall significantly in 2012 based on a government proposal on Tuesday to cut the amount of that type of biofuel refiners would be required to blend in gasoline.

US MA contracts may roll in July on steady feedstocks, say sources
The US maleic anhydride (MA) market is preparing for a second monthly rollover in a row for July contracts as a result of stable feedstock costs, sources said on Tuesday.

US ethylene margins dip by 1.4% on softer spot prices
US ethylene spot margins fell by 1.4% in the third week of June due to a drop in ethylene (C2) spot prices, the ICIS margin report showed on Monday.

Snake causes power outage at Chevron Phillips Texas PE plant
A snake caused Chevron Phillips Chemical to lose power at one of its polyethylene (PE) units at its Cedar Bayou plant in Texas, according to information made available on Monday.