Americas top stories – weekly summary

07 July 2014 15:00 Source:ICIS News

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 5 July 2014.

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US July propylene contract gets second nomination, up 1 cent/lb
Sources said that a second nomination has been heard for US July propylene contracts, this one at a slight increase.

US June PET prices settled up on higher feedstock costs
US polyethylene terephthalate (PET) monthly negotiated prices for June were settled up, following a long negotiation process as market players awaited the settlement of feedstock prices, market sources said.

US MIBK falls 6-8 cents/lb following hike earlier in the year
US methyl isobutyl ketone (MIBK) prices fell, as market sources indicated that prices had finally fallen from increases earlier this year.

US MEK prices increase by 4-5 cents/lb
US methyl ethyl ketone (MEK) prices increased 4-5 cents, as multiple sources indicated that price announcements by producers have been accepted in the market.

Argentina fears that more bond holdouts may demand payment
Argentina is reluctant to pay off a group of hold-out bondholders because the country is concerned that even more hold-outs could emerge and demand full payment on their debt − an outcome that could overwhelm the nation's foreign reserves, a partner with Mayer Brown said.

Formosa allocating PP while repairing Texas unit
US polypropylene (PP) producer Formosa Plastics is allocating PP, sources said, adding that the company is still working to repair a pelletizing extruder at its PP plant in Point Comfort, Texas.

US weekly chemical railcar traffic rises 0.7%, Canada rises 7.7%
US and Canadian chemical railcar shipments rose in the week ended 28 June while shipments in Mexico fell, according to data released by a rail industry group.

US June ethylene contracts fully settle 1.6% higher
US June ethylene contracts were fully settled 1.6% higher from May, sources confirmed.

US Pinnacle Polymers declares force majeure on PP
US polypropylene (PP) producer Pinnacle Polymers declared force majeure on PP this week, after an inability to get enough feedstock propylene to run its plant, sources said.

Q3 US mid-cut fatty alcohol contracts settle in mixed market
Third-quarter US mid-cut detergent range fatty alcohol contracts are largely settled this week amid a widely mixed market, sources said.

By Staff Reporter