Americas top stories - weekly summary

21 May 2012 15:00  [Source: ICIS news]

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 18 May 2012.

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Weak demand weighs on US propylene, June contracts seen down
US propylene contracts are probably headed for a significant drop in June, market sources said on Friday, citing weak demand and lower spot prices in recent weeks.

US Huntsman's new pigment, SABIC's PC cuts energy use
Recent advancements by companies such as US Huntsman and SABIC Innovative Plastics could play a major role in reducing energy consumption in homes and buildings as well as help vehicle manufacturers meet future fuel efficiency standards.

US spot ethylene sheds 18% in May, falls below contracts
US ethylene for May traded at 51.75 cents/lb ($1,141/tonne, €901/tonne) on Thursday, down by 18% since the start of the month, a reduction that puts spot prices in May below contracts for first time in 2012.

US Albemarle to exit phosphorous flame retardants business
Albemarle plans to exit its underperforming phosphorous flame retardants business, the US-based specialty chemicals producer said on Thursday.

US benzene spot prices reach 4-month low on weaker crude
US benzene spot prices reached a four-month low on Wednesday following the continued downtrend in NYMEX WTI crude oil futures.

Repsol sues Argentina over YPF seizure in US court
Repsol YPF, the large Spanish oil company, has filed a class-action lawsuit against Argentina for seizing control of YPF, in which Repsol held a majority stake, the company said on Wednesday.

US butac distributor prices fall 6-7 cents/lb on propylene drop
US butyl acetate (butac) distributor prices fell 6-7 cents/lb in the past week as propylene dropped further, buyers said on Tuesday.

US chemicals leader sees broad manufacturing growth ahead
A top US petrochemicals industry official said on Monday that increasing supplies of natural gas will trigger a rising tide of energy and materials abundance to benefit the chemicals sector and all domestic manufacturing.

US ethylene margins drop nearly 12% after spot prices plunge
US ethylene margins fell by nearly 12% in the second week of May, pressured by a sharp drop in ethylene spot prices and higher ethane costs, the ICIS margin report showed on Monday.

By: Staff Reporter
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