Americas top stories – weekly summary

04 August 2014 15:00 Source:ICIS News

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 2 August 2014.

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US MEK prices - up 13% in four months - could climb higher
US methyl ethyl ketone (MEK) prices are up 13% in four months, and tighter supply and higher feedstock costs could push prices even higher, sources said.

US July PS prices rise 7 cents/lb on higher feedstocks
US polystyrene (PS) contract prices for July were assessed higher by 7 cents/lb ($154/tonnes), based on a spike in feedstock benzene costs.

LyondellBasell lifts force majeure on acetic acid declared in June
LyondellBasell lifted a force majeure declared in June on US acetic acid, according to a letter sent to customers.

US manufacturing growth speeds up in July in 14th month of gains
The US manufacturing sector saw renewed growth in July, a key survey reported, expanding for the 14th straight month and overcoming a slight slowdown seen in June.

US July ethylene contracts set for increase on tight supply
US July ethylene contracts are expected to increase as tight supply has pushed up spot prices, sources said.

US Chevron’s Q2 downstream earnings fall 6% but chem earnings rise
Chevron’s overall second-quarter downstream earnings fell nearly 6% year over year to $721m but chemical earnings rose because of higher earnings from Chevron’s 50%-owned Chevron Phillips Chemical (CP Chem) joint venture with Phillips 66, the US-based energy major said.

No deals arise after default deadline in Argentina, creditor fight
No agreements emerged after Argentina missed a deadline to settle a dispute between it and a group of holdout creditors.

US July PET prices unclear on partial feedstock settlement
The settlement for domestic monthly negotiated US polyethylene terephthalate (PET) prices for July was unclear on the back of an only partial settlement so far in the upstream paraxylene (PX) July contract price, market sources said.

Marathon Petroleum CEO says condensate exports remain uncertain
The recent rulings on exporting US condensate have caused uncertainty about the future of US exports because they are not transparent enough, Marathon Petroleum’s CEO said.

Methanex planning Q4 restart in Louisiana of unit moved from Chile
Methanex plans to restart a plant it has moved from Chile to Louisiana at some point in the fourth quarter, the company's top executive said.

By Staff Reporter