Americas top stories: weekly summary
ICIS Editorial
19-Sep-2016
HOUSTON (ICIS)–Here are some of the top stories from ICIS Americas for the week ended 18 September 2016.
(Please click on the link to read the full text.)
US spot benzene lower on supply,
upstream
US spot benzene prices on Friday were lower amid a quiet
market, weaker upstream values and expectations that benzene
supply would improve. Benzene has been under pressure from
limited imports since June. According to the US International
Trade Commission (ITC), import levels in July were down
slightly from June levels.
Venezuela’s polymer problems
reshuffle
Venezuela’s production of polystyrene (PS) is expected to
re-start soon, at the same time, polypropylene (PP) and
polyethylene (PE) production problems continue because of raw
materials issues. PS production at the Gupo Phoenix plant
Estizulia, in Zulia state, was to resume once a cargo loaded
with styrene monomer arrives.
Canada-EU trade deal remains
controversial
The pending Canada-EU free-trade deal remains controversial
on both side of the Atlantic despite renewed support from
German chemical industry and Canadian government officials.
Negotiations on the Comprehensive Economic and Trade
Agreement (CETA) were finalised in August 2014, but the deal
has yet to be ratified. CETA is often described as template
for the stalled US-EU Transatlantic Trade and Investment
Partnership (TTIP).
US epoxy resin market facing
feedstock pressure
The US domestic epoxy resin market is facing upward pressure
from feedstocks, but long supply is pushing back down. While
September contracts are expected to roll over, sources said
US producers are pushing for increases in October.
Sasol/INEOS US HDPE plant set for
early 2017
The Sasol/INEOS high density polyethylene (HDPE) plant being
built near Houston in La Porte, Texas, will be ready for
startup in early 2017, Sasol says. The 470,000 tonne/year
unit, called the Gemini JV, would mark the third new North
American PE plant to open in less than a year.
US Sep SBR contracts rise on
higher feedstock costs
US styrene butadiene rubber (SBR) contracts for September
were assessed at increases, following the higher settlement
of main feedstock butadiene (BD). The SBR contract hikes were
further supported by earlier increases in July settlements
for other feedstock styrene.
Ford to move all US small vehicle
production to Mexico
Ford Motor is moving all small-car production from US plants
to lower-cost Mexico over the next two to three years, CEO
Mark Fields said during an investor conference. Earlier this
year, Ford said it would invest $1.6bn in Mexico for
small-car production to start in 2018.
US Flint Hills JV starts up new
biodiesel plant
A joint venture made up of Flint Hills Resources and Benefuel
started up a biodiesel plant that uses a new technology based
on lower-cost feedstock. The Duonix Beatrice plant is in
Beatrice, Nebraska, and it will have a capacity of 50m
gal/year (189m litres/year), the companies said. It will also
produce glycerine as a by-product.
US Enterprise Products files
lawsuit over PDH project delays
US midstream energy major Enterprise Products has filed a
lawsuit against petrochemicals engineer Amec Foster Wheeler
over alleged delays and cost overruns at a propane
dehydrogenation (PDH) project at the natural gas liquids
(NGL) hub in Mont Belvieu, Texas. Amec, which signed a
contract with Enterprise in 2013 covering the PDH’s
engineering, procurement and construction activities, said
that it would “vigorously defend” itself against Enterprise’s
claims.
Japan’s Teijin to acquire US-based
CSP for $825m
Japanese producer Teijin is acquiring US-based automotive
composite supplier Continental Structural Plastics Holdings
Corporation (CSP) for $825m. The acquisition is scheduled to
be completed in December. CSP produces thermoset composites
for the automotive industry and is the world’s largest sheet
moulding compound (SMC) manufacturer for automakers.
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