Americas top stories - weekly summary

01 August 2011 15:00  [Source: ICIS news]

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 29 July 2011.

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

US PVC players clash on whether July contracts stay flat or drop
US polyvinyl chloride (PVC) market participants disagreed on the direction of July contract settlements this week, as producers aimed to maintain flat pricing while buyers sought a price drop, sources said on Friday.

US PE contract prices fall 3-4 cents/lb in July
US July contract prices for polyethylene (PE) fell by 3-4 cents/lb ($66-88/tonne, €46-62/tonne), based on weak domestic demand, sources said on Friday.

Braskem PP purchase will not solve US market woes - sources
Braskem's purchase of Dow Chemical's global polypropylene (PP) business could bring more discipline to the US market, but it will not solve the fundamental problem of feedstock shortness, market sources said on Thursday.

US Dow hopes to boost margins with sale of PP business
US-based Dow Chemical has agreed to sell its global polypropylene (PP) business to an unnamed strategic buyer for $340m (€235m), its chief executive said on Wednesday.

US DuPont Q2 net profit up 5% to $1.23bn on sales volumes, prices
DuPont's second-quarter net profits rose 5.2% year on year to $1.23bn on stronger sales prices and volumes and a positive currency impact, the US-headquartered producer said on Thursday.

Brazil’s Braskem to buy Dow's global PP business
Braskem is buying Dow Chemical's global polypropylene (PP) business, the Brazil-based company said on Wednesday.
Earlier in the day, Dow said it was selling the business to an unnamed strategic buyer for $340m (€235m).

US WR Grace eyes bankruptcy exit, strong growth
US catalysts producer WR Grace is eager to emerge from more than a decade of bankruptcy protection, and despite the legal constraints, it has been able to find opportunities for growth, company officials said in a conference call on Tuesday.

US debt limit crisis threatens chemicals, other manufacturing
The US debt limit crisis could have serious consequences for domestic chemicals producers and other manufacturers if not quickly resolved, a top industry official said on Monday, and ultimately it could trigger a new recession.

By: Staff Reporter
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