Americas top stories: weekly summary

Source: ICIS News


HOUSTON (ICIS)--Here are the top stories from ICIS News from the week ended 27 April:

US trucking issues pressure petrochemical markets
Rising transportation costs are pressuring US petrochemical markets, and chemical buyers are being asked to help absorb those increased costs.

US April propylene contracts settle down 1 cent/lb
US April propylene contract prices have been settled by a majority of participants at a decrease of 1 cent/lb ($22/tonne) from the prior month, market sources said on Monday.

Formosa acquires land in St James, Louisiana for new US petchem complex
Formosa Petrochemical Corp has purchased a 2,400-acre (972-ha) site in St James Parish, Louisiana for its new $9.4bn chemical complex, the US state’s governor and the company’s CEO announced on Monday.

Proposed China tariffs pose minimal immediate concern for US PE market
US polyethylene (PE) market participants have expressed no great concern so far to proposed Chinese tariffs on imports of certain grades of US PE, among other petrochemical products. Some feel there is a possibility that tariffs may not be imposed, while there is also a belief that the US would be able to move into markets where existing suppliers would divert material to China if duties are imposed.

Inter Pipeline’s Canada petchem complex to use WR Grace’s PP tech
WR Grace has licensed its UNIPOL polypropylene (PP) process technology for Inter Pipeline’s new integrated propane dehydrogenation (PDH) and PP complex in Alberta, Canada, the US-based company said on Tuesday.

US spot ethylene continues falling to another low on ample supply, soft sentiment
US spot ethylene values continued to fall, with front-month trades at 13.50-13.75 cents/lb on Wednesday, matching lows from February 2002.

Methanex planning third US methanol unit in Louisiana
Geismar, Louisiana appears to have won the bidding war staged earlier this year for Methanex’s new North American methanol plant.

INTERACTIVE: US spot ethylene drops to 19-year low amid ample supply
US spot ethylene values dropped to a 19-year low on Thursday as supply remains ample and sentiment remains weak.

US April PP contracts rollover on healthy demand, limited supply
April contracts for US polypropylene (PP) were assessed on Friday at a rollover, reflecting a 1 cent/lb ($22/tonne) margin increase on top of existing monomer-plus contracts.