Americas top stories - weekly summary

13 January 2014 15:00 Source:ICIS News

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 11 January 2014.

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US December ethylene fully settled up 4.3% on higher spot prices
US December ethylene contracts reached a full settlement up 4.3%.

US BD spot prices soar on overseas tightness, steady demand
US spot butadiene (BD) prices were assessed higher as sources said they had jumped on supply tightness and steady demand.

US front-month spot ethylene falls despite cracker shutdown
US spot ethylene prices fell despite a cracker shutdown and expected supply tightness.

US Alcoa agrees to $384m in penalties in Bahrain bribery scandal
A subsidiary of global aluminium major Alcoa has agreed to pay $384m in penalties for repeatedly paying bribes to Bahrain government officials.

US oil exports may encourage more crude, NGL production
The US may remove restrictions on oil exports, which could reduce refiner margins but encourage more production of crude and natural gas liquids (NGLs), a key petrochemical feedstock.

Slipping spot propylene likely to push down US January contracts
With US polymer-grade propylene (PGP) spot prices slipping, January contracts could settle below nominations.

US VAM Q4 contracts, spot prices rise on ethylene, supply issues
US vinyl acetate monomer (VAM) fourth-quarter contracts rose by 1-2 cents/lb ($22-44/tonne, €16-32/tonne) on the settlement of key feedstock ethylene this week and on supply issues in Europe.

US January propylene contracts expected to jump on tight supply
US January propylene contracts are expected to climb on the back of tight supply and steady demand.

OUTLOOK '14: Economic prospects darken for Brazil
Economic prospects continue to darken for Brazil, Latin America's largest economy.

OUTLOOK ’14: US economy to build on new energy, global recovery
Driven by abundant new energy supplies, a strengthening global recovery and increasing domestic consumer demand, the US economy is widely expected to reach or come very close to normal growth rates in 2014.

By Staff Reporter