Americas top stories - weekly summary

14 July 2014 15:00 Source:ICIS News

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 12 July 2014.

(Please click on the link to read the full text.)

US July propylene contracts fully settle at rollover
US July propylene contracts have fully settled at a rollover, sources confirmed on Friday.

US July MPG contracts steady-to-down on feedstock and rollover
US monopropylene glycol (MPG) contract values for July were assessed as steady-to-down because non-formula-based contracts were rolled over and formula-dependent contracts followed the decline in the feedstock propylene contract in June, market sources said on Friday.

US VGO spot prices spike mid-week on fluctuating fuel prices
Vacuum gas oil (VGO) premiums in the US Gulf were assessed lower on Friday, but spot prices spiked mid-week in a volatile market.

US economy should show a return to growth in Q2 – NABE
The US economy should return to growth in the second quarter this year, business economists said on Friday, with an April-June gain in GDP likely to be enough to offset the 2.9% tumble the economy took in the first quarter.

US spot PGP prices surge on stronger demand after July settlement
US spot polymer-grade propylene (PGP) traded higher on Thursday following news of the July initial contract settlement.

Brazil bottle-grade PET rises $35/tonne on rising import costs
Spot prices for virgin resin, bottle-grade polyethylene terephthalate (PET) for domestic delivery have increased in Brazil by an average of $35/tonne in July from June, market sources said Thursday.

Costs, low demand hinder ethanol in US fuel market
Retail gasoline stations have found it difficult to offer higher ethanol fuel blends because of the cost of upgrading infrastructure, the confusion about which cars can use the blends and a lack of consumer knowledge about them, the president of the Petroleum Marketers Association of America (PMAA) said on Thursday.

US VAM spot jumps $200/tonne on LyondellBasell's ethylene FM
US vinyl acetate monomer (VAM) spot prices jumped $200/tonne this week on LyondellBasell's force majeure declaration for its La Porte ethylene cracker in Texas, sources said on Thursday.

Third quarter tallow, pharmaceutical refined glycerine contract levels widen
The bulk of third quarter 2014 contracts were largely at rollover from the second quarter, but tallow and pharmaceutical-grade glycerine prices were assessed wider on Thursday.

No timeline set for restart after Port Arthur plant fire – CP Chem
Chevron Phillips Chemical (CP Chem) has no timetable for restarting areas of its Port Arthur plant which were affected by a fire and is reviewing when unaffected areas of the facility could safely be restarted, the company said on Wednesday.

US July SBR contracts fall by several cents on lower feedstock BD
US styrene-butadiene-rubber (SBR) contract prices for July fell by several cents/lb, in line with the drop in feedstock butadiene (BD) costs, market sources confirmed on Wednesday.

Axiall’s Lousiana VCM plant back at full operating rates
Axiall's vinyl chloride monomer (VCM) plant in Lake Charles, Louisiana, has been repaired and is running at full operating rates, the US chlor-alkali producer announced on Wednesday.

US KiOR exploring options after failing to make loan payment
KiOR has retained a financial advisor to help it evaluate financial possibilities such as a merger, restructuring or sale of the strapped company as it tries to meet its obligations, the US biofuel maker said on Wednesday in a filing with the Securities and Exchange Commission (SEC).

By Staff Reporter