Americas top stories - weekly summary

03 June 2013 15:00  [Source: ICIS news]

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 31 May 2013.

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US PE contracts settle at rollover for May
US May contract negotiations for polyethylene (PE) ended on the last day of the month with a flat settlement, after producers agreed to postpone a proposed 4 cent/lb ($88/tonne, €68/tonne) price increase until June, sources said on Friday.

US May IPA contract prices fall 10%, 4th drop for 2013
US isopropanol (IPA) contract prices fell by 10% for May after some producers dropped the price not once, but twice during the month, sources confirmed on Friday.

Interview: Small things have US bio-chemical producer thinking big
Charles “Chas” Eggert sees chemicals a bit differently than most. Where others see large petrochemical plants entangled with pipes, valves, tanks, gauges and assorted other contraptions, he sees another way to produce the same chemicals created by the mammoth plants – a much smaller way.

US ethylene market remains divided on margins, price basis
US ethylene buyers and sellers remain divided regarding contract settlements as the market begins negotiations for a double-month settlement, sources said on Thursday.

US PS prices up 2 cents/lb in May on feedstocks, supply issues
May contract prices in the US polystyrene (PS) market were higher by 2 cents/lb ($44/tonne, €34/tonne), based on a 2.5% increase in feedstock benzene prices as well as some supply constraints, sources said on Thursday.

US May barge acetone contract rolls over at 58.5 cents/lb
The US May barge acetone contract has fully settled at a rollover from April, stabilising after two months of declines, sources confirmed on Thursday.

Total to pay nearly $400m in alleged Iran bribery case
French energy giant Total has agreed to pay nearly $400m (€312m) to resolve allegations that it violated US anti-corruption law by paying some $60m in bribes to Iranian officials between 1995 and 2004, the Department of Justice (DOJ) said on Wednesday.

Mexico's Pemex attempts to cover refinery cost overrun in US court
Mexico’s state-owned oil company Pemex repeated allegations in a statement released on Tuesday that a joint venture had bribed company officials so it could secure millions of dollars in cost overruns for a refinery expansion project.

By: Staff Reporter
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