Americas top stories - weekly summary

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.

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

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.

By: Staff Reporter
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