Americas top stories - weekly summary

13 May 2013 15:00  [Source: ICIS news]

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 10 May 2013.

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US May MX contract gains 11 cents/gal on stronger buying interest
The US May mixed xylene (MX) contract on Monday was confirmed to have settled at $3.94/gal (€2.99/gal), a gain of 11 cents/gal from the previous month, following the recent increase in buying interest.

Asia has cheaper SBR, but is the US arbitrage window open?
It is now cheaper to make styrene-butadiene-rubber (SBR) in Asia and import it into the US than to make it domestically, sources said on Monday.

Formosa declares force majeure on HDPE HMW from Texas plant
US polyethylene (PE) producer Formosa Plastics has declared force majeure on high density polyethylene (HDPE) high molecular weight (HMW) products produced at its Point Comfort, Texas, facility, sources said on Tuesday.

NOVA weighs US Gulf, Canada ethylene to supply possible PE plant
NOVA Chemical may complete the first polyethylene (PE) plant among the wave of projects that could come on line in the upcoming years, the result of North America's shale-gas boom, the CEO said on Tuesday.

Williams to bring down US petchem complex in August for 50 days
Williams expects to bring down its petrochemicals complex at Geismar, Louisiana, for about 50 days, beginning in the second half of August, an executive said on Wednesday.

Trucks, new models propel strong demand for automotive petchems
Normally, May is when petrochemical producers start to see orders from the auto sector start to tail off, mainly because many US auto plants shut down for six weeks or more during the summer. But that's not happening this year, sources said on Thursday.

US April styrene settles down on weaker market
April styrene contract prices settled down by 2.25 cents/lb ($50/tonne, €39/tonne) on average at 77.25-81.25 cents/lb, following the decline in the feedstock benzene market, trade participants said on Friday.

Venezuela’s Mercosur entry worries industry leaders
The acceptance of Venezuela into the Mercosur trade bloc is starting to produce changes in the tariffs code, as the country goes from being a member of the Andean Community of Nations to becoming a member of Mercosur, industry sources said on Friday.

By: Staff Reporter
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