SPOILER ALERT!
Beet farmers urge EU activity against subsidized sugar exports
London-- The International Confederation of European Beetroot Growers (CIBE) Wednesday urged the EU to take immediate action against subsidized sugar "being the globe market" versus the backdrop of what it called an unprecedented dilemma in the EU sugar market.
"EU cultivators are one of the most lasting as well as effective growers on the planet ... [but] they can not complete versus rivals which can make use of plant protection products prohibited in the EU ... with Brazilian money depreciation ... [as well as] with the export aids executed by some nations," CIBE said in a statement.
With India positioned to announce its method for relocating its excess sugar, one resource claimed "aids of $150/mt, to require approximately 5 million mt onto world market, might well be seen in the coming weeks." Parallel to the unease expressed by CIBE, sugar industry bodies from Brazil as well as Australia have actually already been preparing protests to the World Trade Company, need to such subsidy plans occur, Reuters reported recently.
For is component, the EU levies out-of-quota import tariffs on white as well as raw sugar of Eur419/mt as well as Eur339/mt specifically, while the in-quota tariff for raw sugar is Eur98/mt on amounts up to 677,000 mt.
The CIBE included that the existing costs "threaten the farms' economic stability and also the durability of the EU beetroot sugar market." Since the EU removed production quotas in October 2017, costs have actually plumbed historic lows due to worldwide oversupply. EU production added to this as well as skyrocketed to 22.8 million mt in the 2017-18 (October-September) project from 16.8 million mt in 2016-17.
Residential supplied costs were examined at Eur322/mt ($376/mt) for North Western Europe and also Eur338/mt for Mediterranean Europe on September 14, down Eur114/mt (26.1%) as well as Eur112/mt (24.9%) specifically on the year.
website futures contract has fallen 13.3% to $323.30/ mt over the very same duration, as well as in August, the New York No. 11 raw sugar futures contract dipped below 10 cents/lb for the very first time in a decade.
"EU cultivators are one of the most lasting as well as effective growers on the planet ... [but] they can not complete versus rivals which can make use of plant protection products prohibited in the EU ... with Brazilian money depreciation ... [as well as] with the export aids executed by some nations," CIBE said in a statement.
With India positioned to announce its method for relocating its excess sugar, one resource claimed "aids of $150/mt, to require approximately 5 million mt onto world market, might well be seen in the coming weeks." Parallel to the unease expressed by CIBE, sugar industry bodies from Brazil as well as Australia have actually already been preparing protests to the World Trade Company, need to such subsidy plans occur, Reuters reported recently.
For is component, the EU levies out-of-quota import tariffs on white as well as raw sugar of Eur419/mt as well as Eur339/mt specifically, while the in-quota tariff for raw sugar is Eur98/mt on amounts up to 677,000 mt.
The CIBE included that the existing costs "threaten the farms' economic stability and also the durability of the EU beetroot sugar market." Since the EU removed production quotas in October 2017, costs have actually plumbed historic lows due to worldwide oversupply. EU production added to this as well as skyrocketed to 22.8 million mt in the 2017-18 (October-September) project from 16.8 million mt in 2016-17.
Residential supplied costs were examined at Eur322/mt ($376/mt) for North Western Europe and also Eur338/mt for Mediterranean Europe on September 14, down Eur114/mt (26.1%) as well as Eur112/mt (24.9%) specifically on the year.
website futures contract has fallen 13.3% to $323.30/ mt over the very same duration, as well as in August, the New York No. 11 raw sugar futures contract dipped below 10 cents/lb for the very first time in a decade.
SPOILER ALERT!
Greater feedstock prices, favorable information trigger broach Sep polyethylene boosts
Polyethylene manufacturers are targeting greater prices in September amid boosts in feedstock naphtha and also improved economic data, resources said this week.
iro water was analyzed at $914.5/ mt CIF NWE Wednesday, up $2.50 on the week. The ordinary value for naphtha until now this month is up to $899.90/ mt CIF NWE, compared with July's standard of $876.80/ mt CIF NWE.
Until now this month, reduced thickness polyethylene agreement prices have actually raised by Eur40/mt ($53.40/ mt), to be examined at Eur1,475-1,480/ mt FD NWE Wednesday.
"All economic indications like building and construction data are improving. We are hopeful this will encourage us to carry even more inventories. Now inventories are slim," one polyethylene producer informed Platts. "With issues at a Middle East supplier, in addition to document reduced inventories in Europe, this could be the moment to enhance our margin," a high thickness polyethylene manufacturer claimed, including that it would certainly be targeting a rise of Eur100/mt.
Construction output in the European Union raised by 0.8% in June on the month, information company Eurostat reported Tuesday. Likewise, Eurozone organisation task grabbed dramatically in August, striking a 26-month high point as the economic situation climbed up out of a record economic crisis, a study showed on Thursday.
Converters were yet to take strong settings on September. However, some converters did report a renovation in order earnings. "Sales are up to plan and also spending plan. It is rather good for this moment of the year. We are optimistic for September and also October," one converter said.
"We can't whine concerning orders presently from the polymer sector and food market for bags. At the beginning of Q3, orders were two-three weeks ahead, currently they are four weeks ahead," a converter said. Boosted presence on end-user demand was kept in mind, converters added.
Ethylene is the item of the heavy steam splitting of hydrocarbons such as naphtha, which is then utilized to generate polyethylene. The primary use of polyethylene remains in film applications for packaging, provider bags as well as trash liners.
iro water was analyzed at $914.5/ mt CIF NWE Wednesday, up $2.50 on the week. The ordinary value for naphtha until now this month is up to $899.90/ mt CIF NWE, compared with July's standard of $876.80/ mt CIF NWE.
Until now this month, reduced thickness polyethylene agreement prices have actually raised by Eur40/mt ($53.40/ mt), to be examined at Eur1,475-1,480/ mt FD NWE Wednesday.
"All economic indications like building and construction data are improving. We are hopeful this will encourage us to carry even more inventories. Now inventories are slim," one polyethylene producer informed Platts. "With issues at a Middle East supplier, in addition to document reduced inventories in Europe, this could be the moment to enhance our margin," a high thickness polyethylene manufacturer claimed, including that it would certainly be targeting a rise of Eur100/mt.
Construction output in the European Union raised by 0.8% in June on the month, information company Eurostat reported Tuesday. Likewise, Eurozone organisation task grabbed dramatically in August, striking a 26-month high point as the economic situation climbed up out of a record economic crisis, a study showed on Thursday.
Converters were yet to take strong settings on September. However, some converters did report a renovation in order earnings. "Sales are up to plan and also spending plan. It is rather good for this moment of the year. We are optimistic for September and also October," one converter said.
"We can't whine concerning orders presently from the polymer sector and food market for bags. At the beginning of Q3, orders were two-three weeks ahead, currently they are four weeks ahead," a converter said. Boosted presence on end-user demand was kept in mind, converters added.
Ethylene is the item of the heavy steam splitting of hydrocarbons such as naphtha, which is then utilized to generate polyethylene. The primary use of polyethylene remains in film applications for packaging, provider bags as well as trash liners.
SPOILER ALERT!
Malaysian Petronas' huge methanol plant prices at 80% of capability
Malaysia's Petronas operating prices at its 1.7 million mt/year methanol plant at Labuan went to the very least 80% since early Friday, a source near the company claimed.
The company had actually closed the plant on October 3 because of a natural gas supply disturbance, as well as was just able to restart the plant on October 18, one more source near the business kept in mind earlier today.
irowater.com was targeting to get to slowly steady operations of around 90%, the resource kept in mind after that.
A source close to the company had approximated on October 13 that the closure can extend until the last component of October.
Despite the failure, the firm did not need to provide a pressure majeure as it had enough inventory.
A disturbance of natural gas materials shut the plant between July 19 and also August 10 this year as well, and also the firm had to issue a pressure majeure during that time as a result of the manufacturing cut.
Petronas also has an older 660,000 mt/year methanol plant at Labuan, which has been idled considering that July 2009 due to water lack, and the firm does not prepare to reactivate this plant in the future, a resource near to the business had verified previously this week.
The company had actually closed the plant on October 3 because of a natural gas supply disturbance, as well as was just able to restart the plant on October 18, one more source near the business kept in mind earlier today.
irowater.com was targeting to get to slowly steady operations of around 90%, the resource kept in mind after that.
A source close to the company had approximated on October 13 that the closure can extend until the last component of October.
Despite the failure, the firm did not need to provide a pressure majeure as it had enough inventory.
A disturbance of natural gas materials shut the plant between July 19 and also August 10 this year as well, and also the firm had to issue a pressure majeure during that time as a result of the manufacturing cut.
Petronas also has an older 660,000 mt/year methanol plant at Labuan, which has been idled considering that July 2009 due to water lack, and the firm does not prepare to reactivate this plant in the future, a resource near to the business had verified previously this week.
SPOILER ALERT!
Westlake Chemical announces unsolicited quote for Georgia Gulf
US-based petrochemical company Westlake Chemical Firm has announced a new unsolicited quote to purchase all exceptional shares in competitor Georgia Gulf Corp. following a stop to arrangements in between both business on a tieup that started on September 30.
In a statement issued Friday, Westlake revealed its offer of $30/share in cash for Georgia, which represents a 51% premium to the latter's 30-day volume-weighted average share price of $19.82.
Georgia Gulf had not been quickly offered for remark.
A source knowledgeable about firm procedure stated that "thus far is just a proposal and also not yet a done bargain."
In addition to the general public disclosure, Westlake sent out a letter to Georgia Gulf's board of supervisors educating them of its intent to go on with the procurement plans, despite effort by Georgia Gulf's monitoring to "unreasonably restrain [its] investors' capacity to prompt think about [Westlake's] proposition."
The parties last fulfilled on December 22.
"Because the initial delivery of our proposition on September 20, 2011, we have made numerous attempts to engage in meaningful dialogue with Georgia Gulf and have shared our willingness to discover, pursuant to a customary discretion contract, whether possibilities exist that would certainly justify raising our proposal rate. However, Georgia Gulf has actually been unwilling to give us with details that would allow us to check out these chances or to enter into substantive conversations," stated Westlake Head of state as well as Chief Executive Officer Albert Chao.
Westlake presently possesses roughly 4.8% of the impressive typical shares of Georgia Gulf.
www.irowater.com merging of the business would see the production of a significant North American olefins, vinyls and structure products producers, with raised range in the expanding international vinyls market and with extra development possibilities. The procurement would allow Westlake to reinforce its setting as a polyvinyl chloride resins producer and vinyl-based structure items provider, while likewise increasing its international item offerings.
In a statement issued Friday, Westlake revealed its offer of $30/share in cash for Georgia, which represents a 51% premium to the latter's 30-day volume-weighted average share price of $19.82.
Georgia Gulf had not been quickly offered for remark.
A source knowledgeable about firm procedure stated that "thus far is just a proposal and also not yet a done bargain."
In addition to the general public disclosure, Westlake sent out a letter to Georgia Gulf's board of supervisors educating them of its intent to go on with the procurement plans, despite effort by Georgia Gulf's monitoring to "unreasonably restrain [its] investors' capacity to prompt think about [Westlake's] proposition."
The parties last fulfilled on December 22.
"Because the initial delivery of our proposition on September 20, 2011, we have made numerous attempts to engage in meaningful dialogue with Georgia Gulf and have shared our willingness to discover, pursuant to a customary discretion contract, whether possibilities exist that would certainly justify raising our proposal rate. However, Georgia Gulf has actually been unwilling to give us with details that would allow us to check out these chances or to enter into substantive conversations," stated Westlake Head of state as well as Chief Executive Officer Albert Chao.
Westlake presently possesses roughly 4.8% of the impressive typical shares of Georgia Gulf.
www.irowater.com merging of the business would see the production of a significant North American olefins, vinyls and structure products producers, with raised range in the expanding international vinyls market and with extra development possibilities. The procurement would allow Westlake to reinforce its setting as a polyvinyl chloride resins producer and vinyl-based structure items provider, while likewise increasing its international item offerings.
ERCOT asks for preservation as power demand nears document high
The Electric Reliability Council of Texas is asking electrical consumers to limit or decrease electric usage from 3-7 pm CDT Thursday with need forecasts as high as 68,550 MW, which would certainly set a document.
ERCOT's document optimal of 68,305 MW took place August 3, 2011, during the hottest summer on record.
The heat for Dallas is anticipated at 103 today, 5 levels over typical. In Houston, the high temperature is expected at 101, 5 levels above normal. San Antonio is forecasted to reach a high of 100, 3 levels over regular.
The problem is not separated to any one energy service provider or area, the Brownsville Public Utilities Board claimed in a statement.
" It's something that affects everybody in Texas and is being done to prevent overwhelming the state's power grid as demand rises with the warm summer temperatures," BPUB said.
To date today, electric demand has actually damaged 67,000 MW for the very first time in July considering that 2011; demand remained above 67,000 MW for three successive hours Wednesday, the very first time ever before for July; as well as need came to a head at 67,590 MW during the hr finishing at 5 pm Wednesday, the highest ever before for July.
" Although we have been able to stay on par with these July documents today, we currently project somewhat greater need during today's optimal hrs," Dan Woodfin, ERCOT director of System Procedures, claimed in a statement. "Some extra plants have actually experienced unintended outages as well as we are expecting less wind generation throughout today's peak."
ERCOT has actually had concerning 1,800 MW in unplanned outages since Wednesday's peak.
Wind generation was anticipated to drop as low as 925 MW at 1 pm CDT Thursday.
" This is a preventive measure to aid guarantee we can preserve total integrity during this high-demand duration," Woodfin said. iro water , specifically during the late mid-day and also early evening hrs, can aid us guarantee dependability throughout the ERCOT grid."
Real-time bundles did not seem to be impacted by the preservation call, averaging $23.30/ MWh in early morning on-peak hours.
ERCOT's document optimal of 68,305 MW took place August 3, 2011, during the hottest summer on record.
The heat for Dallas is anticipated at 103 today, 5 levels over typical. In Houston, the high temperature is expected at 101, 5 levels above normal. San Antonio is forecasted to reach a high of 100, 3 levels over regular.
The problem is not separated to any one energy service provider or area, the Brownsville Public Utilities Board claimed in a statement.
" It's something that affects everybody in Texas and is being done to prevent overwhelming the state's power grid as demand rises with the warm summer temperatures," BPUB said.
To date today, electric demand has actually damaged 67,000 MW for the very first time in July considering that 2011; demand remained above 67,000 MW for three successive hours Wednesday, the very first time ever before for July; as well as need came to a head at 67,590 MW during the hr finishing at 5 pm Wednesday, the highest ever before for July.
" Although we have been able to stay on par with these July documents today, we currently project somewhat greater need during today's optimal hrs," Dan Woodfin, ERCOT director of System Procedures, claimed in a statement. "Some extra plants have actually experienced unintended outages as well as we are expecting less wind generation throughout today's peak."
ERCOT has actually had concerning 1,800 MW in unplanned outages since Wednesday's peak.
Wind generation was anticipated to drop as low as 925 MW at 1 pm CDT Thursday.
" This is a preventive measure to aid guarantee we can preserve total integrity during this high-demand duration," Woodfin said. iro water , specifically during the late mid-day and also early evening hrs, can aid us guarantee dependability throughout the ERCOT grid."
Real-time bundles did not seem to be impacted by the preservation call, averaging $23.30/ MWh in early morning on-peak hours.
