IHS Chemical Week
BASIC CHEMICALS

Acron completes expansion of technical ammonium nitrate plant

June 29, 2016 | Natasha Alperowicz

Acron (Veliky Novgorod, Russia), a major producer of fertilizers, has completed expanding a technical ammonium nitrate (AN) plant at its Veliky Novgorod complex. The facility makes AN containing magnesium hydroxide. The expansion, a two-stage project...

Asia's styrene price surge may be short-lived as outlook for derivatives stays bearish

June 28, 2016 | Sok Peng Chua

Styrene in Asia has regained top spot in the world market, pricing in at a $45.50/metric ton premium over Europe-sourced styrene today, IHS Chemical data show. Prices continued rising on speculative buying and short covering, with a July-arrival cargo traded...

Companies ink deal for $1.5-billion fertilizer project in India

June 28, 2016 | Natasha Alperowicz

The state government of Andhra Pradesh, India, has signed a memorandum of understanding (MOU) with a three-nation consortium of China Huanqiu Contracting and Engineering Corp. (Beijing), the engineering subsidiary of China National Petroleum Corp.; LEPL...

Asia's spot styrene at seven-week high ahead of August turnaround

June 27, 2016 | Sok Peng Chua

Asia’s spot styrene shrugged off blues from the UK EU referendum to close Monday at a seven-week high of $1,040.50 per metric ton CFR China as supply tightened ahead of August’s plant turnaround and on lower inventory levels, IHS...

July Asia p-xylene contract price nominations at $850/m.t.

June 27, 2016 | Sok Peng Chua

Para-xylene (p-xylene) producers JX Nippon Oil & Energy Corp. (Tokyo) and Idemitsu Kosan Co., Ltd. (Tokyo) have each nominated the July Asia contract price at $850 per metric ton CFR, up $10 per metric ton and $30 per metric ton from the companies'...

K+S issues profit warning as lower prices, volumes dent second-quarter earnings expectations

June 27, 2016 | Francinia Protti-Alvarez

K+S Group (Kassel, Germany) has issued a profit warning based on preliminary second-quarter figures. The company's adjusted earnings before interest and taxes (EBIT) measure of operating profit is expected to be €10.0 million ($11.1 million), down...

Rosneft signs petchem deals with ChemChina, Sinopec

June 27, 2016 | Natasha Alperowicz

Rosneft (Moscow), Russia’s largest oil company, has signed separate deals with China National Chemical Corp. (ChemChina) and China Petrochemical Corp. (Sinopec) on the construction of two petrochemical projects in Russia. The deals were announced on 25...

Belarus, India sign 2016–17 potash supply agreement

June 27, 2016 | Francinia Protti-Alvarez

JSC Belarusian Potash Co. (BPC; Soligorsk, Belarus) and Indian Potash Ltd. (IPL; New Delhi) have agreed to potash supply for fiscal 2016/17. BPC will supply India with 700,000 metric tons of potash at$227 per metric ton CFR—smaller than the...

Asia toluene drops to 4-month low on Brexit, spread against mixed xylene widens to intra-year high

June 24, 2016 | Sok Peng Chua

Toluene prices have tumbled to a four-month low in Asia, closing today at $560/m.t. fob South Korea as Brent crude nose-dived following Britain’s referendum vote to exit from the European Union. Brent started the day at $50.65/bbl but plunged to an...

Costs of North Yorkshire potash project reduced significantly

June 24, 2016 | Natasha Alperowicz

Sirius Minerals (London) today announced a major reduction of the capital funding requirements for its North Yorkshire polyhalite potash project. Since October 2014, in parallel with the preparation of the definitive feasibility study (DFS), the company has...

BASF to provide its Limus technology to Chinese fertilizer firm Kingenta

June 24, 2016 | Deepti Ramesh

BASF says that it has entered into a partnership with fertilizer manufacturer Kingenta (Linshu, China), under which BASF will provide Kingenta with its Limus technology. Limus, a urease inhibitor, addresses the problem of nitrogen loss in urea-based...

China May benzene imports up 40%, mixed xylene imports up 24%

June 23, 2016 | Sok Peng Chua

China’s benzene imports jumped 40% in May from the previous month, to 159,664 m.t., IHS Chemical data show. May benzene imports rose13,952 m.t. or 26% year-on-year (YOY). The increase in import cargoes could be attributed to a wide disparity between...

China May p-xylene imports up 4%, PTA exports down 21%

June 23, 2016 | Sok Peng Chua

China’s appetite for para-xylene (p-xylene) continued to grow in May as imports gained 4% from April, to reach 1.08 million m.t., IHS Chemical data show. May imports were up 9% year-on-year from 2015.   Volume from South Korea, China's top...

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