Americas top stories - weekly summary

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

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 25 May 2012.

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

US BD maker undercuts rivals, offers 40 cent/lb June drop
A US butadiene (BD) producer nominated a 40 cent/lb ($882/tonne, €706/tonne) drop for June, undercutting proposed reductions made by two rival suppliers in the past few days, market sources said on Friday.

US Memorial Day travel expected to rise on lower gasoline prices
Automobile travel for the US Memorial Day holiday weekend may be boosted by the recent drop in gasoline prices, analysts said on Friday.

US Dow to spend $2.16bn K-Dow settlement on debt, growth
Dow Chemical plans to spend its $2.16bn (€1.73bn) settlement in the K-Dow dispute on debt, growth and shareholders and not on any major mergers and acquisitions (M&A), the US-based major said on Thursday.

Dow Chemical awarded $2.16bn in K-Dow arbitration
Dow Chemical has been awarded $2.16bn (€1.73bn) by a court of arbitration relating to the collapse of its planned K-Dow venture with Kuwait’s PIC, the US chemical major said on Wednesday.

Canada rail strike could trigger chem plant shutdowns
The rail strike at Canadian Pacific (CP) that began on Wednesday could force some Canada-based chemical producers to shut down their plants within days, a chemical industry trade group said.

US PA May contracts roll over following April OX
US phthalic anhydride (PA) May contracts have been assessed at a rollover from April, following the US orthoxylene (OX) April contract, sources said on Tuesday.

US producer nominates 24% reduction for BD in June
A US butadiene (BD) producer on Monday nominated a 24% reduction for its June contracts, an initiative that comes on the heels of a sharp decline in spot prices in recent weeks.

US Cytec to sell coating resins business by end of 2012
Cytec Industries has initiated a formal sale process for its coatings resins business, with a transaction estimated to take place later this year, the US-based specialty chemicals and materials firm said on Monday.

By: Staff Reporter
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