Americas top stories - weekly summary

04 June 2012 15:00  [Source: ICIS news]

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 01 June 2012.

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

ExxonMobil brings total US C2 expansions to over 33% of capacity
US-based ExxonMobil Chemical’s announcement of a new 1.5m tonne/year cracker in Texas by 2016 brings the tally of new US ethylene capacity announcements to 33% of existing capacity.

US ExxonMobil plans world-class Texas petchem project
ExxonMobil is planning a multi-billion dollar petrochemical expansion at its facility in Baytown, Texas, which would include a new 1.5m tonne/year steam cracker, the company confirmed on Friday.

US PE May contracts down by 7 cents/lb on feedstocks
US May contracts for polyethylene (PE) settled down by 7 cents/lb ($154/tonne, €125/tonne) from April, following weak domestic and export demand and a drop in feedstock prices, sources said on Thursday.

Cheap US natgas prompts Celanese to plan major expansion in USG
Prompted by cheap US natural gas, Celanese plans to spend $500m-1bn (€405-810m) either by expanding its large plant in Texas or by building a new unit in Louisiana, a spokeswoman said on Thursday.

US spot ethylene falls to 15-month low at 45.75 cents/lb
US spot ethylene for June traded at 45.75 cents/lb ($1,009/tonne, €817/tonne) on Thursday, its lowest level since February 2011, the ICIS database showed.

US spot ethylene sheds 8% on softer crude, ethane prices
US spot ethylene traded sharply lower on Wednesday along with a drop in energy values and feedstock ethane prices.

US June methanol contracts roll with Southern Chemical posting
US June methanol contracts rolled over on Tuesday as Southern Chemical Corp (SCC) kept its monthly posting at 133 cents/gal (€.26 litre), the same as its May posting.

Canada govt introduces legislation to end rail strike
Canada’s federal government on Monday introduced legislation to end an ongoing freight rail strike at Canadian Pacific (CP).

By: Staff Reporter
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