Basic Aluminum Prices Up
2
MARKETS I f£\^>;v^ Î-SV" V " *• ?> L^ïSV^^ χ \ * ^ / ^ ^νΠν,ν<^Λ~ ; Λ ^Sizi^v'"^^ *. i M T A S S I U f e CHLORIOE^CRUDE < ||ι«ι£> Soviet Bloc Imports Fall Exports to U. S. market have been falling off since 1956 — U. S. production dropped during First half (JXE RESULT of the industrial recession here has been to curtail imports of ben- zene, tbe bulk of which is supplied by the Iron Curtain countries. Benzene arrivals from these sources for all of 1958 may amount to a little more than one half of the quantity imported in 1957 when the total was around 52 mil- lion gallons. In 1956 the benzene im- ports, again mostly from the Soviet Bloc nations, were about 65 million gallons. The recent 5-cent slash in domestic benzene to 31 cents a gallon, coke-oven and petroleum, is not expected to affect the imports, in either volume or price. Current import price is 26 cents a gal- lon. The foreign nitration benzene must be blended, however, which brings tbe cost up to 28 cents, still 3 cents a gallon below domestic. Consumers this year did not step on each others' toes in a scramble to get benzene for styrene, phenol, and gen- eral chemical processing. Domestic benzene supply in 1957 was 332 mil- lion gallons, and in 1956 it was 337 million, reflecting the drop in steel op- erations. These figures include pro- duction by coke oven and petroleum plants as well as benzene processed from imported crude materials. Domestic benzene output dropped almost 229c during the first five months of 1958, totaling 114 million gallons compared with 146 million gallons for the January-May period in 1957. The monthlv results: January February March April May 1958 ( Thousands 25.453 22J60 25,216 19,350 21,807 7 957 of gallons^ 29,580 26,661 29,508 30,380 29,500 Source: U. S. Tariff Commis- sion and the Bureau of Mi ries. The cold war has become an eco- nomic war, with Russia engaged in. a drive to capture whatever world mar- kets she can, chemicals included. However, the U.S.S.R. fared less well in 195T as far as the United States market for some chemicals is concerned, and this year her shipments to this country are even smaller. Benzene shipments by the U.S.S.R. to the United States dropped from 39.7 million gallons in 1956 to 24.2 million in 1957. But her exports of crude naphthalene and pyridine to this country increased. Benzene exports to the U. S. by the Soviet Bloc last year line up as follows: U.S.S.R. Poland East Germany 0 Czechoslovakia 9 For 1956. None Gallons 24,285,000 14,401,000 257,000 4,214,000 recorded for 1 9 5 7 . • Petroleum Share. Coke-ovens con- tinue to contribute the largest amount of benzene, while petroleum processes are accounting for most of the other aromatics. On the basis of the Tariff Commission report just released on tar crudes, the oil industry supplied 116 million gallons of benzene in 1957, or about 3n f ,'f of total production. Coke-ovens accounted for 179 million gallons or 54 r /r, while the tar distillers reported production of 36 million gal- lons or a little more than 109c. Petroleum plants, on the other hand, again dominated the output picture in toluene and xylene. The oil industry made 155 million gallons of toluene, or 80' '.'< of the total of 198 million gall ons. Petroleum xylene· amounted to 115 million gallons of the total of 127 million gallons turned out, which is better than 90^. Basic Aluminum Prices Up Basic aluminum metal was advanced by seven-tenths of a cent by Alu- minum Corp. of America, effective Aug. 1, as the result of rising labor costs. Aluminum pig is now 24.7 cents per pound, and Alcoa said the 34 C &E Ν AUG. II, 19 5 8
Transcript of Basic Aluminum Prices Up
MARKETS
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Soviet Bloc Imports Fall Exports to U. S. market have been fall ing off since 1956 — U. S. production dropped during First half
( J X E RESULT of the industrial recession here has been to curtail imports of benzene, tbe bulk of which is supplied by the Iron Curtain countries. Benzene arrivals from these sources for all of 1958 may amount to a little more than one half of the quanti ty imported in 1957 when the total was around 52 million gallons. In 1956 the benzene imports, again mostly from the Soviet Bloc nations, were about 65 million gallons.
The recent 5-cent slash in domestic benzene to 31 cents a gallon, coke-oven and petroleum, is not expected to affect the imports, in either volume or price. Current import price is 26 cents a gallon. The foreign nitration benzene must be blended, however, which brings tbe cost u p to 28 cents, still 3 cents a gallon below domestic.
Consumers this year did not step on each others' toes in a scramble to get benzene for styrene, phenol, and general chemical processing. Domestic benzene supply in 1957 was 332 million gallons, and in 1956 it was 337 million, reflecting the drop in steel operations. These figures include production by coke oven and petroleum plants as well as benzene processed from imported crude materials.
Domestic benzene output dropped almost 229c during the first five months of 1958, totaling 114 million gallons compared with 146 million gallons for the January-May period in 1957. The monthlv results:
January February March April May
1958 ( Thousands
25.453 2 2 J 6 0 25,216 19,350 21,807
7 957 of gallons^
29,580 26,661 29,508 30,380 29,500
Source: U. S. Tariff Commission and the Bureau of Mi ries.
The cold war has become an economic war, with Russia engaged in. a drive to capture whatever world markets she can, chemicals included. However, the U.S.S.R. fared less well in
195T as far as the United States market for s o m e chemicals is concerned, and this year her shipments to this country are e v e n smaller.
Benzene shipments by the U.S.S.R. to the United States dropped from 39.7 million gallons in 1956 to 24.2 million in 1 9 5 7 . But her exports of crude naphthalene and pyridine to this country increased. Benzene exports to the U. S. by the Soviet Bloc last year line up as follows:
U.S.S.R. Poland East Germany 0
Czechoslovakia 9 F o r 1956 . None
Gallons 24,285,000 14,401,000
257,000 4,214,000
recorded for 1957.
• Pe t ro l eum Sha re . Coke-ovens continue to contribute the largest amount of benzene , while petroleum processes are accounting for most of the other aromatics. On the basis of the Tariff Commission report just released on tar crudes, the oil industry supplied 116 million gallons of benzene in 1957, or about 3nf,'f of total production.
Coke-ovens accounted for 179 million gallons or 54r/r, while the tar distillers reported production of 3 6 million gallons or a little more than 109c.
Petroleum plants, on the other hand, again dominated the output picture in toluene and xylene. The oil industry made 155 million gallons of toluene, or 80''.'< of the total of 198 million gall ons.
Petroleum xylene· amounted to 115 million gallons of the total of 127 million gallons turned out, which is better than 9 0 ^ .
Basic Aluminum Prices Up Basic aluminum metal was advanced
by seven-tenths of a cent by Aluminum Corp. of America, effective Aug. 1 , as the result of rising labor costs. Aluminum pig is now 24.7 cents p e r pound, and Alcoa said the
3 4 C &E Ν A U G . I I , 19 5 8
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WEEK'S PRICE CHANGES
Advances
August 4 , 1958
OURREXT
Corn oil, lb . : Crude, tanks. Coast S Refined tanks. X . Y.
Cium s tyrax . Asiatic, lb . Cïum turpent ine . So.. jial. Mangrove bark, E.
African, ton
0 .14Ve 0 . 1 7 8 5 4.50 0.51
«7 .00 Mercury, flask 70>-lb. :23r».00 Shellac, lb.:
But ton , X o . 1 Lemon. X o . 1 Lemon. X o . 2
T i n metal , l b . T i n salts, l b . :
Oxide, 400 lb. drums Potassium stannatc Sodium s t anna t e Stannous chloride.
anhyd.
Declines» Aldehydes, lb . :
C-14 C-ir, C-18
Cottonseed oil. Vallev, l b . KrKot, lb. Crease, vellow, l b . (>uui aloes. Cape. lb. Soybean oil. Decat i r . l b . o-Tolidine, tech-, l b . :
Dr v base Paste
2-Yinvl pvridine, t ank trucks, lb.
0.3<» 0.3Γ» 0.H5 0-953 , Ά
1.04 0 .758 (ΜΠ3
0.971
n .<a 5 .15
10.Λ5 Q.V2 1.O0 0.075/δ O.HÔ 0.09»/«
1.50 1.45
3.25
P H E T I O U S
$ € . 3 3 V = 0 .171O 3 . 7 5 0-5OV«
€»3.00 2 :^5.00
0-35 0 J i 5 0 .34 O .^ôVs
1.02 0 - 7 5 5 O.OOS
0 . 9 6 5
6 . 4 0 Λ-rfO
l l . O O 0 . 1 2 V* 1.35 0 . 0 7 V 4 Ο.:·4·Λ O.09 7 /s
3-55 1.50
1.30
advance would restore only par t of the 2-cent reduction made on April 1 this year.
All other domestic producers followed suit, effective either Aug, 1 or 4- Aluminium, Ltd., increased its U. 8-market price to the same level as domestic makers, but officials say thai no increase in its other world markets is now planned.
Steel prices were advanced about S4.25 per ton by U. S. Steel, Bethlehem, and other smaller producers, also effective Aug. 1. The steel rise, taking in flat rolled sheet a n d strip steel, led to expectations in some quarters that another inflationary spiral would be set in motion, and caused Sen. Estes Kefauver to call into session a Senate Subcommit tee on Monopolies.
Sen. Homer Capehart also urged President Eisenhower to intervene, although in the past t h e President has declined to act as arbitrator in such matters.
The aluminum price increase. Alcoa explains, is the result of higher employment costs amounting to more than 19 cents an hour growing out of labor agreements made in 1956.
• Rohm & Haas , Philadelphia, announced price cuts of about 5 ' r for three acrylic emulsions used in t he paint , paper , and textile industries.
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