HOUSTON (ICIS)–The US Department of Agriculture (USDA) has calculated the final corn numbers at record yield of 177.3 bushels per acre, with total corn production estimated at a new high of 15.3bn bushels according to the January World Agricultural Supply and Demand Estimate (WASDE) report. Not only have corn numbers risen in the latest update […]

CHARLOTTE, North Carolina (ICIS)–Inflation is falling faster than expected across most economies, leading to a turning point in central banks’ two-year battle against surging prices. This turning is now fueling expectations that central banks could pivot to cutting interest rates in 2024. The economies of both China and Europe have lost momentum. Falling oil and […]

LONDON (ICIS)–Demand for mixed plastic waste in Europe from the mechanical recycling and burn-for-energy sectors is expected to remain weak into 2024 amid ongoing challenging macroeconomic conditions. This has resulted in reduced industrial output which has blunted demand for burn-for-energy volumes, and from key mechanical recycling end-use sectors such as construction. For burn-for-energy markets, only […]

HOUSTON (ICIS)–The proposed rules that will govern the US hydrogen tax credit program are too strict and may do too little to promote the nascent industry, two hydrogen trade groups said on Friday. However, environmental groups and an industrial gas producer lauded the proposal rules because they ensure that the most lucrative tax credits go […]

HOUSTON (ICIS)–INEOS has reached an agreement to acquire LyondellBasell’s ethylene oxide (EO) and derivatives business, including the Bayport Underwood site in Texas, for $700m, the companies said on Friday. The deal includes a 420,000 tonne/year EO plant, a 375,000 tonne/year ethylene glycols (EG) plant and a 165,000 tonne/year glycol ethers plant, together with associated third-party […]

LONDON (ICIS)–The separation of Solvay into two independent companies will come into effect later on Friday, the Belgium-based producer said. Solvay has spun off its specialties segment which will now be called Syensqo. Its commodities business, referred to as EssentialCo since the split was first announced, will remain as Solvay. All proposed resolutions were approved […]

LONDON (ICIS)–The Czech Energy Regulatory Office (ERO) has told ICIS it has serious concerns about the German storage neutrality levy. Chief among the points of concern it outlined were the levy’s compatibility with EU rules and the security of Czech gas supply, with the levy increase potentially opening a backdoor for increased Russian flows to […]

HOUSTON (ICIS)–The US Department of Agriculture (USDA) is forecasting higher corn exports and lower ending stocks but otherwise had minimal changes within the December World Agricultural Supply and Demand Estimate (WASDE) report. This current corn outlook is projecting there to be higher exports and lower ending stocks with exports raised by 25m bushels to 2.1bn […]

LONDON (ICIS)–The ICIS Northwest Europe ammonia-to-hydrogen price eased back to its lowest value in six weeks on the final day of November, but larger falls were witnessed in values of other forms of hydrogen generation. The ammonia-to-hydrogen price fell by €0.08/kg on a weekly basis to stand at €6.07/kg on 30 November, the lowest value […]

SAO PAULO (ICIS)–Brazilian petrochemicals sources have said the slight hike in polymers’ import tariffs will have little overall impact, although it is expected to help shore up margins for domestic producers. Earlier in November, Brazil’s Chamber of Foreign Commerce (Gecex-Camex) decided to hike import tariffs on several polymers, partly reversing a decision adopted in 2022 […]