Daily Chemical News Recommendation (Aug 28 2018)

ECHEMI will recommend you several daily chemical news. If you want to know more, please go to our News Section.

>> China imposes 25% tariffs on US oil products

China on Thursday implemented tariffs on a second tranche of US goods, targeting oil products and coal for the first time, in retaliation to US tariffs effective the same day and paving the way for crude oil and LNG to be hit next.

Energy commodities including propane, butane, naphtha, jet fuel and coal are on the second list of $16 billion worth of US products that attract 25% additional tariffs from August 23, 12:01 pm Beijing time (0401 GMT), according to China's Ministry of Commerce announcement on August 8.

The latest tariffs come in the midst of trade talks between the US and China on Wednesday-Thursday in Washington, but market participants do not expect the talks to yield any firm outcomes to ease tensions. [More] 

 >> European Sept acrylonitrile butadiene styrene price outlook bullish despite rise

The outlook for European September acrylonitrile butadiene styrene prices is bullish despite supply being bolstered by a rise in imports, according to S&P Global Platts data. 

The anticipated hike in ABS feedstock costs supported expectations of higher September prices. The September butadiene contract price was settled Wednesday at Eur1,175/mt, up Eur50/mt on the month.

An even larger increase was expected in the styrene market. Early expectations were heard in the range Eur1,395-1,415/mt for the September styrene contract price, pointing to a Eur80-100/mt rise on the month over the Eur1,315/mt August level.[More]