Industry News
Chemical Industry News
BASF completes upgrade at US superabsorbent polymer plant
HOUSTON (ICIS)--BASF has completed a $19.2 million upgrade of its superabsorbent polymer (SAP) plant at Freeport, Texas, it said on Thursday. The project, which began in 2023, involved the...
Brazil’s Grupo Potencial to expand soybean oil-based biodiesel plant in Parana
SAO PAULO (ICIS)--Biodiesel and glycerine producer Grupo Potencial is to invest Brazilian real (R) 600 million ($107 million) to expand its facility in Lapa, in Parana state’s region of Curitiba,...
EPCA ’24: Caustic soda prices rise in Mediterranean, but market players sense peak
BERLIN (ICIS)--The Mediterranean market for caustic soda remains tight, with increases in average cost and freight (CFR) prices in the first half of October, according to market players on the...
UK government launches cap and floor scheme for long duration energy storage
UK government launched a cap and floor investment scheme for long duration energy storage (LDES) on 10 October This could help developers overcome high upfront costs for projects, particularly for...
Plant status: LCY Elastomers schedules maintenance at SBR plant
HOUSTON (ICIS)--Here is a plant status report: Name: LCY Elastomers Location: Baytown, Texas, US Product: Styrene butadiene rubber (SBR, including styrene butadiene copolymers) Capacity...
SHIPPING: Backlog at US Gulf, East Coast ports could last 2-3 weeks after 3-day ILA strike
HOUSTON (ICIS)--Backlogs created by the three-day strike at US Gulf and East Coast ports could last for two to three weeks, although there are indications that operations could return to normal...
Brazil growth story props up chloralkali sector; Argentina still distant from being out of woods – CloroSur
SAO PAULO (ICIS)--Brazil’s healthier than expected growth in 2024 has greatly propped up the chloralkali sectors, while Argentina's woes, although improving, will take some time to be fixed, said...
Plant status: LCY Elastomers down on production issues, softening BD demand
HOUSTON (ICIS)--Here is a plant status report: Name: LCY Elastomers Location: Baytown, Texas Product: Styrene butadiene rubber (Including styrene butadiene copolymers) Capacity (tonnes/year): 60,000...
NBP prompt rises above TTF peers
Rising demand pushes the NBP prompt ahead of continental counterparts Traders expect structural demand to outstrip supply in November November ’24 maintains consistent premium to TTF, too low for...
EPCA ’24: Europe BDO at a crossroads, with growing focus on China overcapacity and pricing
BERLIN (ICIS)--Throughout the past few years, much of the focus of the European butanediol (BDO) market has been on China’s ever-increasing capacity, and that is showing no sign of stopping....
GLM Focus: Petronas uncertainty clouds Argentina’s export ambitions
Uncertainty surrounds Petronas’ commitment to Argentina’s LNG project, raising concerns about financing and progress The Argentina LNG project, led by YPF and Petronas, plans for two floating...
Returns for digitization strategies differ dramatically in chemicals sector – McKinsey
BERLIN (ICIS)--The return on investment for technology investments differs substantially between companies, with dramatically different outcomes based on the extent players build on that investment,...
US CPI inflation runs at 2.4% pace in September; jobless claims rise
HOUSTON (ICIS)--US inflation, as measured by the Consumer Price Index (CPI), edged down to 2.4% year on year in September but rose by more than economists had expected month on month, at 0.2% month...
Gas, nuclear to be at the core of Hungarian energy strategy
Energy minister Csaba Lantos outlined the future Hungarian energy policy at an energy forum This could secure Hungarian gas and power supply for a long-term period, boosts energy investment Biogas,...
US gas futures fall on limited demand outlook
• Hurricane Milton makes landfall • Driftwood LNG gets renamed • FERC reports Golden Pass problems HOUSTON (ICIS)--As Hurricane Milton approached landfall in Florida, US natural gas futures...
Florida power outages approach 3.4 million after Hurricane Milton
HOUSTON (ICIS)--Nearly 3.4 million outages have been reported in Florida in the aftermath of Hurricane Milton, which made landfall as a powerful Category 3 hurricane near Sarasota, Florida, south of...
EPCA ’24: Europe PET optimism falters, but unpredictability reigns
LONDON (ICIS)--Polyethylene terephthalate (PET) buyers and sellers in Europe are in suspense as they gauge how to handle the considerable, global volatility impacting the industry. End-user demand...
Chemical recycler Ioniqa files for bankruptcy protection
LONDON (ICIS)--Glycolysis-based chemical recycling technology company Ioniqa has filed for bankruptcy protection, the company announced in press release on Thursday. The company is headquartered in...
Solvay’s US soda ash expansion to be completed early next year
LONDON (ICIS)--Solvay’s 600,000 tonne/year soda ash expansion project at its US site in Green River, Wyoming, is expected to be completed by early 2025, the Belgium-based international chemicals...
US August base oils imports down, exports up
SINGAPORE (ICIS)--US base oils imports fell in August from the previous month, contrasting with a rise in the country’s exports to a five-month high. Total imports of 1.08 million barrels (153,000...