Americas top stories: weekly summary
ICIS Editorial
06-Nov-2017
HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 3 November:
LyondellBasell
approaches Brazil Braskem about takeover –
report
LyondellBasell approached Brazilian polyolefins
producer Braskem about a possible takeover,
the Wall Street Journal reported on
Monday.
Analyst lays out
case for LyondellBasell buying
Braskem
An analyst made on Monday a case why Braskem
would be an attractive acquisition target for
LyondellBasell, arguing that the share price of
the Brazilian producer trades at a discount to
its peers.
US Oct propylene
settles at 1.5 cent/lb increase amid still
disrupted market
US October propylene contracts have
settled at a 1.5 cent/lb increase by most
market participants, although a producer did
not settle its contracts at that level, market
sources said on Monday.
Clariant dodges
breakup fees in scrapped Huntsman
merger
The cancellation of merger plans between
Clariant and Huntsman in the face of opposition
from an activist investor means that the
Switzerland-headquartered company is unlikely
to be called on to pay millions in breakup
fees, according to CFO Patrick Jany.
Brazil Braskem
says LyondellBasell did not approach it about
takeover
Braskem said on Tuesday that it was not
approached by LyondellBasell about any proposal
to acquire its shares.
US benzene
contracts for Nov settle higher on supply
limitations
US benzene contracts for November
settled 10-12 cents/gal higher than
the October settlement on Tuesday.
US November BD
contracts fully settle down
13%
US November butadiene (BD) contracts fully
settled down 13%, sources confirmed on
Wednesday.
US October
ethylene contracts settle down 0.5
cent/lb
US October ethylene contracts have
settled at a decrease of 0.5 cent/lb, market
sources said on Wednesday.
US Enterprise’s
PDH unit to produce first propylene this
month
Enterprise Products’
long-delayed propane dehydrogenation
(PDH) facility at the Mont Belvieu natural gas
liquids (NGL) hub near Houston is expected to
produce its first polymer
grade propylene this month, the CEO
of the US midstream energy and petrochemicals
company said on Thursday.
US DowDuPont may
need more time to spin off
companies
US-based DowDuPont may need more time to
complete its plan to spin off its three
businesses, the CEO said on Thursday.
North America Q4
TiO2 prices higher on tight
supply
North American titanium
dioxide (TiO2) contract prices for the
fourth-quarter increased on Friday on tight
supply and unseasonably healthy demand.
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