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http://www.globalchemicalprice.com -
Iran is currently negotiating with firms from France, Denmark, Germany, Japan, South Korea and Switzerland in the petrochemical industry. The Western sanctions prevented foreign companies to be involved in the project of the country. Despite a minor relief sanctions, Iran continues to believe that American officials are warning foreign companies about cooperating with Iran.
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http://www.globalchemicalprice.com -
Spot bitumen prices in Asia are expected to remain weak on the back of excess supply and sluggish demand. In east China, benchmark prices of AH-70/90 bitumen was at yuan (CNY) 4,200-4,250/tonne. Prices in south China also declined to CNY 4,250-4,320/tonne.
Bitumen inventories stood at 45 per cent of the regions storage capacity of 155,000 in south China. Whereas in east China, inventory accounted for 49 per cent of the regions storage capacity of 473,000 tonnes.
http://www.globalchemicalprice.com -
Harsh winter weather in the U.S. is taking a toll on the logistical aspect of the petrochemical business. Heavy snow, ice and freezing temperatures delayed railcar, truck and barrage deliveries. The winter weather created serious supply issues.
The Northeast and Midwest have been the worst affected regions. The Gulf Coast, where a considerable amount of US petrochemicals are produced, also had to deal with colder-than-usual temperatures.
http://www.globalchemicalprice.com -
As a part of the interim budget Finance Minister P Chidambaram introduced a number of measures to boost growth of the manufacturing segment. He cut down excise rates on several capital goods and consumer goods to 10 per cent. For the chemical industry customs duty on non-edible grade industrial oils, fatty acids and fatty alcohols has been fixed at 7.5 per cent to support domestic manufacturing of soaps and oleo chemicals.
http://www.globalchemicalprice.com -
West Texas Intermediate crude rose to a 4-month high on the back of speculations that inventories at Cushing, Oklahoma, declined. Futures rose 0.9 per cent.
Brent crude for April settlement increased 1 cent to close at $110.47 per barrel on the London-based ICEFutures Europe exchange. Crude in New York is increasing on expectations that crude supplies from Cushing will drop. The opening of the new pipeline and the increasing amount of oil moving out of Cushing is making everyone speculate.
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