Almost half of the US refining capacity is concentrated in the Gulf of Mexico region. The violent hurricane “Harvey” attacked the coast of Texas, where the huge floods destroyed 11.2 percent of the US’s refining capacity, as well as a quarter of the US Gulf of Mexico’s oil production and caused the closure of the Texas coastal port. In addition, the United States accounted for more than 1/3 of the chemical production capacity was forced to shut down.

American styrene plant

US local styrene production capacity of about 4.9 million tons, up to now, involving parking devices up to 2.53 million tons, and another 1.124 million tons of reduced load operation, although some factories said that due to the main supply downstream or contract-based users, On the market supply of supply has little effect, but it is undeniable that a substantial reduction in supply. For the Chinese styrene market, it can be considered “icing on the cake”, for the recent domestic market prices pulled up further played a further boost with the.

The United States as Asia’s main source of ocean cargo supply, China’s styrene imports for a long time plays a decisive role. However, in 2017 the United States exported to China, the total amount of styrene plunged from January to July customs import data, China’s total imports from the United States 152,900 tons, compared with 292,200 tons last year dropped 139,900 tons The The main reason is that the United States in the first quarter of the local multi-sets of large units to stop the maintenance of their own supply caused by a sharp decline in their exports, and even once the Asian exports to the United States anti-arbitrage phenomenon; on the other hand is due to high prices in Europe, the United States to Europe Substantial increase in supply, the corresponding reduction in the arrival of the Asian market.

In addition, we have analyzed in the previous period, Europe imports from the United States about 2-3 million tons per month, but in August the total flow of goods in the range of 4-6 million tons, resulting in the US local supply reduction. In the first half of September, US cargo was already sold and most of it was shipped to Europe. As a result, the earlier Asian Ocean Ocean Cargo supply to maintain a low level.

On the whole, “Harvey” hit the United States caused floods, resulting in the local part of the styrene plant shut down or down to bring a substantial decline in production, leading to recent exports blocked, relatively speaking, for the supply of the tight European market The impact of more direct, cut-off before the European spot styrene valuation has soared to 1488.5 US dollars / ton FOBARA, the last round of highs in the March 7 closing 1498 US dollars / ton FOBARA.

For China, traders have already predicted that there is little support for ocean-going cargo arrivals from Asia in September-October due to a decline in China’s supply in China in 2017, which has been affected by changes in arbitrage windows in Europe and the United States earlier in Europe and the United States. Short-term supply of styrene in China is not a big change, a direct impact on the business optimistic about the market to enhance the expected, and a small amount of cargo in September to postpone the arrival of the problem. Moreover, the recent European and American market stage higher for the current round of Asian market strength provides a boost can not be ignored and has been reflected in the current price. Of course, the late recovery of the US device and the European market price trends, will directly affect the ocean cargo on the Asian region more long-term supply.

Which lasted 21 months, the United States Dow Chemical Company (DOW) and DuPont (DuPont) completed the merger, the new world’s largest chemical company was born.

Dow DuPont (NYSE: DWDP) announced on September 1 that Dow Chemical (DOW) and DuPont (DuPont) on August 31 successfully completed the merger. The merged entity is a holding company, titled “Dow DuPont”. According to the market value of the two companies, after the merger Dow DuPont market value of over 150 billion US dollars, more than the original chemical industry’s largest market value of BASF (BASF), a chemical company in the new global boss.

DuPont and Dow’s shares ended on August 31, 2017 at the end of the day (NYSE) on the day of trading day. September 1, Dow DuPont shares will be traded on the New York Stock Exchange, code DWDP. According to the merger agreement, Dow shareholders according to a fixed ratio of 1: 1 Dow stock converted to Dow DuPont stock; DuPont shareholders DuPont shares convertible 1.282 shares of Dow DuPont stock.

After the establishment of the new company will set up double headquarters, located in Michigan and Delaware. After the merger the company will have 16 directors, Dow and DuPont each accounted for eight. Andrew Liveris, Chief Executive Officer and CEO of Dow Chemical, is the former executive chairman of Dow DuPont, and DuPont President and Chief Executive Officer Edward Breen is the CEO of Dow DuPont.

The two sides said that in the 18 months after the merger, Dow DuPont will be divided into three independent companies, were engaged in agriculture, specialty products and chemical materials. The board of directors of both companies is reviewing the plan to determine that the spin-off portfolio will create the greatest value for shareholders. Dow and DuPont announced the merger for the first time in December 2015.

“The history of our two companies is well known, and today is an important milestone in this history, and we have completed this merger in the transition process and will be further split into three,” said Li Weicheng, executive chairman of Dow DuPont. Industry leading, independent listed companies, we are very excited about this. ”

“The completion of this merger is a decisive step for our shareholders, customers and employees, and we will build a better future based on sustainable growth and innovation,” said Tom Duh, CEO of Dow DuPont. Value, embrace greater opportunities. “The merger transaction is now complete, the next focus is to determine the final organizational structure, as the three plans to split the foundation of a strong company, while focusing on how to play a common optimization effect , Thus releasing the value.

In recent years, large-scale chemical industry restructuring. In June, Chemchina completed the acquisition of seed giant Syngenta, a bayer of Bayer’s acquisition of Monsanto, which is in progress.

DuPont was founded in 1802 and headquartered in Wilmington, Delaware, USA. Its business includes: electronic materials, electronic communications, crop protection and so on.

Dow Chemical was founded in 1897 and headquartered in Midland, Michigan, USA. Its business scope includes: functional products, high-tech materials, basic materials, health and agricultural technology.

September 1, the London Metal Exchange (LME) aluminum prices hit the highest since February 2013, nickel hit a nine-month high, after steel prices rose further, and the largest metal consumer China’s manufacturing data is strong.

London time on September 1 17:00 (Beijing time on September 2 00:00), indicators of three-month aluminum closed up 0.9 percent higher at $ 2,136 per ton, intraday hit in February 2013 to the highest 2,145 US dollars The

Three-month copper closed up 0.7 percent at $ 6,835 a tonne, and Thursday’s copper hit $ 6,872 in September 2014.

“The steel sector continues to lead the base metal market, and today the other major factor is China’s continued supply side reform and its economic data,” said Gianclaudio Torlizzi of T-Commodity, a consulting firm.

Shanghai rebar contract rose to 6% on Friday, the largest increase since April 2016, by China’s industrial activities to further enhance the signs of boost. Shanghai Futures Exchange main rebar futures closed up 5.48%, reported 4062 yuan per ton.

Nickel and zinc are mainly used in the steel industry, so the price is closely related to steel prices.

China’s manufacturing data also boosted industrial metal prices. China’s New Manufacturing Purchasing Managers’ Index (PMI) continued to improve in June, rising to a six-year high, boosting export orders and boosting prices.

China’s New Manufacturing Purchasing Managers’ Index (PMI) in May was 51.6, up 0.5 percentage points in July, the highest since February, indicating that the manufacturing sector as a whole is running well. This trend is consistent with the National Bureau of Statistics manufacturing PMI. China’s official manufacturing PMI rose to 51.7 in August, compared with 51.4 last month.

Stéphanie Aymes, head of technical analysis at Societe Generale in France, said nickel prices could fall and challenge at $ 10,933.

Three-month nickel climbed 2 percent to $ 12,035 a tonne, up from $ 12,095 in November.

Among the other base metals, the three-month zinc rose 1.2% to $ 3,185 per tonne.

The three-month lead change was little, up $ 1 or 0.04% at $ 2,395 per tonne.

Three-month tin fell 0.22 percent at $ 20,625 a tonne.

September 1, the Asian styrene market closed both rose 2 US dollars / ton, FOB Korea received 1356-1357 US dollars / ton, CFR China received 1383-1384 US dollars / ton.

September 1, the European ethylene market closing price fell, FD Northwest Europe prices fell 20 euros / ton to close at 993-997 euros / ton; CIF Northwest Europe prices fell 24 US dollars / ton, to close at 1167-1172 US dollars / ton

September 1 for the Singapore and Malaysia Hatch Festival, Asia ethylene glycol market closed.

As of September 1 closing, methanol CFR China (LC 0-30 days) closed; methanol CFR Southeast Asia (LC 0-30 days) closed. September 1 due to Singapore Hatch Festival, Asian methanol market closed.

September 1 European p-xylene market closing price stable, closing price of 789-791 US dollars / ton FOB Rotterdam.

September 1 US p-xylene market closing price rose 15 US dollars / ton, the closing price of 785-795 US dollars / ton FOB US Harbor.

September 1, the Asian region p-xylene market closing price stable, closing price of 810.5-812.5 US dollars / ton FOB Korea and 828.5-830.5 US dollars / ton CFR China.