06 February 2012 15:00 [Source: ICIS news]
HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 3 February 2012.
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US ABS spot prices rise on feedstock costs
US acrylonitrile butadiene styrene (ABS) domestic prices rose as three producers pushed forward as much as an additional 5 cents/lb ($110/tonne, €84/tonne), market sources said on Friday.
Plastics slump hits US Dow Chemical in fourth quarter
A much-reduced operating rate and steep earnings declines in plastics, materials and electronics helped drive Dow Chemical to a net loss of $20m (€15m) in the fourth quarter of 2011, the US company said on Thursday.
US alleges DuPont TiO2 technology stolen for China
A man was ordered to stay in a US jail on Wednesday in connection with an alleged scheme to steal titanium dioxide (TiO2) trade secrets from DuPont on behalf of Chinese government officials.
US propylene maker seeks 17 cent/lb Feb hike, undercutting rival
A US propylene producer has nominated a 17 cent/lb ($375/tonne, €285/tonne) increase for February, undercutting a 22 cent/lb increase recently nominated by another supplier, market sources said on Wednesday.
US Westlake Chemical increases bid for Georgia Gulf to $35/share
US-based Westlake Chemical has boosted its bid for Georgia Gulf to $35/share (€26.6/share), but the latter rejected the increased bid, Westlake reported on Wednesday.
Strike may hit Texas refinery, national contract talks continue
A worker strike could hit a Valero refinery in Texas as early as Wednesday, sources said, while national union-refiner contract talks continued on Tuesday.
US BD contracts for Feb rise 12-16% in split settlement
US butadiene (BD) contracts will rise by 12-16% in February under a settlement that left the market split with a price of $1.18/lb ($2,601/tonne, €1,978/tonne) and $1.30/lb, market sources said on Tuesday.
ExxonMobil Q4 chem earnings fall 49% on weaker margins, volumes
ExxonMobil’s 2011 fourth-quarter chemical segment earnings fell 49% year on year because of weaker margins, lower volumes and “unfavourable tax effects,” the US-based energy and petrochemicals major said on Tuesday.
US ethylene margins jump to highest level since May 2011
US ethylene margins rose by nearly 8% last week, jumping to their highest level since May 2011 on increased spot prices for the monomer, the ICIS margin report showed on Monday.
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