Americas top stories - weekly summary

26 September 2011 09:00  [Source: ICIS news]

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 23 September 2011.

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

Outlook for US economy continues to weaken - chem trade group
The outlook for the US economy for the rest of 2011 and 2012 has continued to weaken, the American Chemistry Council (ACC) said on Friday.

US Mosaic fiscal first-quarter earnings rise 77%, sales hit $3.1bn
Mosaic’s fiscal 2012 first-quarter net earnings rose 77% year on year to $526m (€389m) as margins improved and net sales rose 41% to $3.1bn, the US-based fertilizer firm said in a preliminary results filing on Friday.

Chems crash as US Dow Jones Industrial Average falls 391 points
North American chemical stocks fell sharply on Thursday as the Dow Jones Industrial Average fell 391 points, continuing a rout that started on Wednesday.

BASF to pay $51m to settle US isocyanates price-fixing lawsuit
BASF had no immediate comment on Thursday regarding its proposal to pay $51m (€37m) to settle a class-action lawsuit accusing it of fixing prices.

Chems down as US Dow Jones Industrial Average falls by 324 points
North American chemical stocks fell sharply on Thursday as the Dow Jones Industrial Average (DJIA) plummeted by nearly 324 points, continuing a rout that started on Wednesday.

US SBR spot values drop on soft demand, lower feedstocks, imports
Softening demand, lower feedstock costs and imports pushed down spot prices for US styrene butadiene rubber (SBR) this month, market participants said on Wednesday.

ExxonMobil to build lubricant base stock plant in Baytown, Texas
ExxonMobil Chemical plans to build a lubricants base stock plant in Baytown, Texas, with a capacity of 50,000 tonnes/year of metallocene polyalphaolefin (mPAO) advanced synthetic base stocks, the US petrochemical company said on Wednesday.

US chems contend with gloomy house market
Tuesday's statistics on US housing starts show that the industry is still struggling to recover after peaking five years ago, a trend that will continue to affect chemicals that rely on this key end market.

US new home building drops 5% in August, down 5.8% year on year
US new home construction fell sharply in August, the Department of Commerce said on Tuesday, dropping by 5% from July’s pace and down by nearly 6% from August 2010.

US ethylene margins fall 15% on higher feed, lower spot prices
US ethylene margins continued to fall in the second week of September, dropping by 15% from a week earlier on lower spot prices and higher production costs, the ICIS margin report showed on Monday.


By: Staff Reporter
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