Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 26 January:

Global potash prices to continue steady recovery in 2018 – Bernstein
Global muriate of potash (MOP) prices look set to continue increasing in 2018, thanks in part to tight producer discipline amid strong demand, chemical equity analysts at Bernstein Research said on Monday.

US East Coast refiner files for bankruptcy protection
Philadelphia Energy Solutions filed for bankruptcy protection under Chapter 11.

South Africa’s Sasol bullish on oil prices as Lake Charles completion draws closer
Firmer oil prices are likely to boost Sasol’s earnings in the first six months of 2018 if current levels of near $70/bbl are maintained, the South Africa-headquartered company said on Tuesday, as its $11bn Louisiana, US, cracker complex draws closer to completion.

Second US February BD nominated at 4 cent/lb increase
A second nomination for US February butadiene (BD) contracts called for an increase of 9.8%, sources said on Tuesday.

US Tronox sues antitrust regulator over Cristal deal
Pigment producer Tronox sued a US antitrust regulator on Tuesday, alleging that it had no legitimate reason to block its proposal to acquire National Titanium Dioxide (Cristal).

Tronox CEO reiterates allegations against FTC over Cristal TiO2 deal
US Federal Trade Commission (FTC) staff made a “tactical decision” to avoid a determination of the legality of Tronox’s acquisition of Cristal’s titanium dioxide(TiO2) business on its merits, Tronox CEO Jeffry Quinn said in webcast remarks on Wednesday.

Initial US January propylene settlements at 9 cent/lb increase
Initial settlements for US January propylene contract prices are at a 9 cent/lb ($198/tonne) increase from the prior month, market sources said on Wednesday, although the settlement is not yet marketwide.

Dow declares force majeure on US MDI
Dow Polyurethanes declared force majeure on all methyl di-p phenylene (MDI) products in the US, according to a customer letter obtained by ICIS on Wednesday.

Pinnacle Polymers declares force majeure on US PP
Pinnacle Polymers has declared a force majeure on production of polypropylene (PP) from its plant in Garyville, Louisiana, ICIS learned on Thursday.

BASF declares force majeure on US monomeric MDI
BASF has declared force majeure on US supplies of monomeric methyl di-p phenylene isocyanate (MMDI), ICIS learned on Thursday.

Celanese sees new US methanol plant as attractive – CEO
With the strong methanol prices and margins, Celanese may change course and prioritise building another methanol plant in the US, Mark Rohr, the CEO of the US-based producer, indicated on Friday.