NEW YORK (ICIS)–The US chemical industry, along with other interest-rate sensitive sectors, is poised to get a lift as the US Federal Reserve moves closer towards its first interest rate cut – a move increasingly likely in September. “The economy is moving closer to the point at which it will be appropriate to reduce our […]

LONDON (ICIS)–BASF is moving to “de-risk” its exposure to the electric vehicles sector in response to slowing market dynamics, CEO Markus Kamieth said on Friday, pausing or deciding against several investments connected to the industry. Take-up of electric vehicles has slowed in most markets other than China, Kamieth said, prompting the company to shift strategy, […]

LONDON (ICIS)–Venezuelans go to the polls on Sunday with the hope of a free and fair election, in which case President Nicolas Maduro is widely expected to lose office in a country where the economy has been battered by years of mismanagement, corruption, and US sanctions. In the crude oil-rich country – Venezuela holds the […]

LONDON (ICIS)–On 17 July the government of the Czech Republic approved an update to its hydrogen strategy. The update follows a wide array of European policy developments such as targets for the use of renewable hydrogen in transport and industry, as well as alternative fuels infrastructure regulation on hydrogen refuelling stations. The strategy indicates a […]

HOUSTON (ICIS)– Producer Agrimin Limited said their Mackay Potash project in Western Australia is now advancing towards a final investment decision. In an update on quarterly activities the company said it continues to focus on their project which is planned to be able to manufacture standard and granular sulphate of potash (SOP) products. Current activities […]

HOUSTON (ICIS)–The US Department of Agriculture (USDA) is projecting higher corn production but a decrease in soybean output according to the July World Agricultural Supply and Demand Estimate (WASDE) report. In the monthly update corn production for 2024-2025 is forecast up by 240 million bushels on greater planted and harvested area from the June Acreage […]

SINGAPORE (ICIS)–Record-high temperatures have pushed up power demand, which could prompt Japanese power utilities back in the spot market for additional LNG volumes. The weather outlook indicates the hottest temperatures may have passed for now, after peaking at 36C in Tokyo on 8 July. However, high probability of above-average temperatures remains through to the first […]

SAO PAULO (ICIS)–Earlier this week, the head of Brazil’s chemical producers’ trade group Abiquim accompanied President Luiz Inacio Lula da Silva during his official visit to Bolivia and returned with deals which could potentially increase and liberalize natural gas supplies to Brazil. The chemicals industry in Brazil consumes around a third of all-natural gas available, […]

China’s polypropylene (PP) exports in 2024, based on the January-May trends, could reach 2.6m tonnes. That would be double the level of 2023. And as exports surge, China’s self-sufficiency in PP looks set to see a similar dramatic increase. As recently as 2019, China’s PP net imports (imports minus exports) totalled 4.8m tonnes. If the […]

SINGAPORE (ICIS)–Energy major Shell on Friday said that it expects to book $2 billion in post-tax impairments following the sale of its Singapore assets and the suspension of construction at its biofuels plant in the Netherlands. The sale of the company’s Singapore Energy and Chemicals Park announced in May will result in a non-cash, post-tax […]