Americas top stories - weekly summary

21 January 2013 15:00  [Source: ICIS news]

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 18 January 2013.

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

US PPG Industries' coatings businesses help lift Q4 net income
PPG Industries' fourth-quarter 2012 net income rose 5.1% year on year to $227m (€170m), driven by a strong performance from its coatings businesses, the US-based chemicals and coatings firm said on Monday.

US ethylene margins jump 8% on higher spot prices
US ethylene margins rose by nearly 8% in the second week of January, lifted by a sharp increase in ethylene spot prices, the ICIS margin report showed on Monday.

US propylene contracts for January settle 15 cents/lb higher
US propylene contracts rose by 15 cents/lb ($331/tonne, €248/tonne) for January, lifted by a surge in spot prices in the past few weeks and strong demand, market sources said on Tuesday.

BP forecasts US to be 99% energy self-sufficient by 2030
The US will be nearly energy self-sufficient by 2030 while global production of energy will increase steadily in the next two decades to meet the world’s consumption needs, according to projections released by BP on Wednesday.

US chem companies to lower '13 outlooks on order patterns, demand
Jefferies expects US chemical companies to lower their 2013 outlooks by about 5% on choppy order patterns and lower demand because of attempted price increases, the investment bank said on Wednesday.

US PP January contracts up 15-16 cents/lb with propylene
US polypropylene (PP) contract prices settled higher by 15-16 cents/lb ($331/tonne, €248/tonne), following a steep increase in feedstock propylene, sources said on Thursday. 

Lure of methane continues to drive US plant projects
The lure of methane continues to hook petrochemical entrepreneurs and investors, as new plant announcements in Texas and Louisiana showed this week.

Some firms may drop their N America PDH plans
Plans to build up to seven propane dehydrogenation (PDH) plants in North America could overwhelm world markets, causing some companies to back away from their projects, analysts said this week.

By: Staff Reporter
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