Americas top stories - weekly summary

10 February 2014 15:00 Source:ICIS News

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 8 February 2014.

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US January ethylene fully settles up 4.1% on higher feedstocks
US January ethylene contracts have fully settled up 4.1% on higher feedstock costs, sources confirmed.

US Feb OX contract settles down 1.5 cents/lb on soft MX prices
February contract prices for US orthoxylene (OX) declined by 1.5 cents/lb ($33/tonne) from January on the back of soft US mixed xylenes (MX) spot prices throughout much of January, sources said

US IPA increases by 5 cents/lb for January
Domestic prices for US isopropanol alcohol (IPA) rose by 5 cents/lb ($110/tonne) for January, as initiatives have taken hold in the US market, sources said.

US lawmakers urge Obama to help in propane shortage relief efforts
A bipartisan group of US senators are urging President Barack Obama to engage federal agencies in propane shortage relief efforts, according to open letter sent to the White House.

US January MIBK contract jumps 7 cents/lb on propylene
January contract prices for US methyl isobutyl ketone (MIBK) increased 7 cents/lb ($154/tonne), as price increase announcements by several producers took hold in the market.

US Jan EO contracts rise 1.6 cents/lb on higher feedstock
US ethylene oxide (EO) increased by 1.6 cents/lb ($35/tonne) for January, on a formula-based correlation to the feedstock ethylene contract settlement, as assessed by ICIS.

US base oil margins crunched on high gas oil costs
US base oil margins are crunched on high vacuum gas oil (VGO) costs and recent reductions in posted prices, market players said.

US biotech industry expects to flourish when Farm Bill signed
With the US Farm Bill set to be signed by President Barack Obama, biotechnology leaders discussed the opportunities the funding could provide in the renewable chemical industry.

US Phillips 66 moving forward with $3bn NGL projects in Texas
Phillips 66’s board of directors has decided to move forward with two major natural gas liquids (NGLs) projects in Texas representing more than $3bn in investment, the company announced.

Green R-PET water cooler idea praised by industry sources
The decision by the Canadian-based Ice River Springs to manufacture water coolers made from green recycled polyethylene terephthalate material (R-PET) could lead to even more innovations for the hard-to-sell material, sources said.

By Staff Reporter