Despite a $100 drop, wide gap exists between buyer and seller offers for PS in Asia

As oil and feedstock naphtha and styrene monomer prices continue to soften, PS prices witnessed a hundred dollar drop in Asia this week. November shipment CFR China offers for GPPS were heard at US$12200-1250/MT, with deals concluded about 10-20 dollars lower.

For more details on Despite a $100 drop, wide gap exists between buyer and seller offers for PS in Asia click here

Asian PVC prices fall below US$800 on deteriorated export demand and bearish domestic market sentiments

Deteriorated export demand and bearish domestic market sentiments have tanked CFR China PVC offers below US$800/MT. Offers for next month have met with reluctance from buyers after conclusion of few ddeals at US$785/MT CFR China.

For more details on Asian PVC prices fall below US$800 on deteriorated export demand and bearish domestic market sentiments click here

Fears of global recession outweigh concerns of reduced output by OPEC

New York's main contract, light sweet crude for December delivery, dipped by over 3 dollars to US$64 a barrel, while Brent North Sea crude for December delivery fell to $US62 per barrel. In intraday ttrade; the New York futures contract ebbed to $US62.

For more details on Fears of global recession outweigh concerns of reduced output by OPEC click here

SK Energy posts 75% rise in petrochemical sales in Q3

SK Energy, Korea's key energy provider, has reported results for third quarter, wherein the performance of its petrochemical division has been spectacular. Q3 petrochemical sales increased by 75% YOY to KRW 3.

For more details on SK Energy posts 75% rise in petrochemical sales in Q3 click here

Slack markets trigger three digit drop in LDPE and LLDPE prices in Asia

Pressured by persistently slackening demand and bearish market sentiments, prices of LDPE and LLDPE in Asia toppled by almost US$150 this week. Incessantly falling naphtha and ethylene values have alsso added to market woes.

For more details on Slack markets trigger three digit drop in LDPE and LLDPE prices in Asia click here

Ethylene and propylene prices hover below the $600 mark in Asia

The financial crisis in USA and Europe, has made way for fears of a global economic downturn. This has weakened consumer demand worldwide, tanking demand and prices of all feedstocks and polymers. Keyy processors in Asia, particularly China, rely very heavily on demand from the markets of the West.

For more details on Ethylene and propylene prices hover below the $600 mark in Asia click here

Weak downstream demand compels Formosa to extend cracker shutdown indefinitely

Compelled by weak demand in Asia, Taiwanese petrochem major Formosa Petrochemical has decide to keep its No. 3 naphtha-fed steam cracker at Mailiao shuttered. Capacities at the plant total 1.2 mln tpaa of ethylene and 600,000 tpa of propylene.

For more details on Weak downstream demand compels Formosa to extend cracker shutdown indefinitely click here

Crude oil prices rise from 16 month lows as OPEC arrives at production cut concensus

Crude oil rose from 16 month lows on news that OPEC members had reached a consensus on the need to trim production. An agreement on the size of the reduction has to be yet arrived at by the oil cartell.

For more details on Crude oil prices rise from 16 month lows as OPEC arrives at production cut concensus click here

Gail to pick up 19% stake in ONGC's petrochem plant at Dahej

Board of Directors at GAIL India have approved a proposal to acquire 19% stake in Oil and Natural Gas Corporation's (ONGC) petrochemical project in Dahej, Gujarat. Investment details have not been dissclosed.

For more details on Gail to pick up 19% stake in ONGC's petrochem plant at Dahej click here

Iran's NIPC and German Uhde GmbH ink petrochem agreement

National Iranian Petrochemical Company (NIPC) and Germany's Uhde GmbH have inked a petrochem deal for dehydrogenated propane plant with capacity to produce 350,000 tons. The plant is to be located in Imam Khomeini Port in Iran's Khuzestan province.

For more details on Iran's NIPC and German Uhde GmbH ink petrochem agreement click here

India's largest petrochem major reported to have halved PP run rates

Lackluster demand has reportedly coerced India's largest petrochem major- Reliance Industries Ltd (RIL), to halved production at its polypropylene unit at Jamnagar, Gujarat. The company is reported too have closed two of the four manufacturing lines over the past 10 days at the plant with total capacity of one mln tpa.

For more details on India's largest petrochem major reported to have halved PP run rates click here

GAIL reports a 79% rise in net profit for Q2

GAIL (India) Ltd's performance during Q2 has been spectacular on higher earnings from gas transmission, LPG and liquid hydrocarbons, and natural gas trading. GAIL has reported a 79% rise in net profitt for Q2 at Rs 1,023 crore, and a 35% increase in turnover to Rs 6,129 crore.

For more details on GAIL reports a 79% rise in net profit for Q2 click here

Viability of SCC's US$4 bln petrochem complex in Vietnam doubtful

Thailand's biggest industrial conglomerate - Siam Cement Plc, forsees an uncertain future for its US$ 4 bln petrochemical complex planned in Vietnam. The project might no longer be financially viable due to tight global liquidity, that could adversely affect ability to secure loans from banks by the company.

For more details on Viability of SCC's US$4 bln petrochem complex in Vietnam doubtful click here

Polypropylene LFT concentrate to meet demanding automotive specifications

RTP Company has commercialized a new polypropylene LFT concentrate designed to meet demanding automotive specifications. The melt impregnated LFT concentrate, grade designation RTP 199 X 118012, combiines 60% by weight very long glass fibre reinforcement and masterbatch additives into a single pellet, allowing processors to easily blend it with neat polypropylene resin at the press.

For more details on Polypropylene LFT concentrate to meet demanding automotive specifications click here

Cost cutting and reduced run rates on the cards at Sibur

As demand for petrochemicals continues to be sluggish worldwide, Sibur, the petrochemical division of Gazprom, plans to reduce spending and could even mull a brief cut in run rates. As we seem on the verge of an economic depression amid growing economic instability, most processors are cutting down on purchases.

For more details on Cost cutting and reduced run rates on the cards at Sibur click here

Contrary to estimates, Reliance Q2 profits rise

Analysts had forecast Q2 net profit at Rs 39.2 bln for India's Reliance Industries Ltd. By recording a 7.4% increase in Q2 profilts, the company has surpassed all market forecasts. This surge in net pprofits to Rs 41.

For more details on Contrary to estimates, Reliance Q2 profits rise click here

Sibur selects Technip as EPC contractor for ethylene expansion

Sibur Neftekhim has awarded to Technip, a lump-sum engineering and procurement contract for expansion of its ethylene plant in Kstovo, Russia. Value of th econtrat awarded by Sibur Neftekhim, a subsiddiary of Sibur, is approximately €45 mln.

For more details on Sibur selects Technip as EPC contractor for ethylene expansion click here

Bayer MaterialScience starts production at world's largest MDI facility in Shanghai

Bayer MaterialScience has successfully started production at its new 350,000 tpa diphenylmethane diisocyanate (MDI) complex-the world's largest MDI facility-at the Bayer Integrated Site Shanghai (BISSS).

For more details on Bayer MaterialScience starts production at world's largest MDI facility in Shanghai click here

Sinopec to expand refining & petrochemical plants based in central China

Crude-oil consumption in China will rise 5% to 8.4 mln bpd in 2009, a per International Energy Agency (IEA). In an effort to reduce dependence on fuel imports, China Petroleum & Chemical Corp (Sinopecc) is set to outlay US$2.

For more details on Sinopec to expand refining & petrochemical plants based in central China click here

CNOOC receives approval to construct refining terminal at Nanhai Petrochem Project

China National Offshore Oil Corporation (CNOOC) has received approval from the National Development and Reform Commission (NDRC) to construct a refining terminal at its Huizhou Port-based Nanhai Petroochemical Project in Guangdong Province.

For more details on CNOOC receives approval to construct refining terminal at Nanhai Petrochem Project click here

Japan's naphtha imports down, crude imports up YOY in September

According to a report by RTT News, Japan's imports of gasoline and naphtha dropped 2.7% year-on-year (YOY) in September with total volume imported standing at 2.2 mln kiloliters. However, the Ministryy of Finance said that imports of crude oil inched up 1.

For more details on Japan's naphtha imports down, crude imports up YOY in September click here

Declining propylene values trigger a $200 collapse in Asian PP offers

Floundering propylene values corresponding with weakening crude and naphtha prices have triggered a US$200 fall in polypropylene prices in Asia. Sellers offers from South Korea and Singapore have plunnged to hover around US$870-900/MT CFR China, however bids from Chinese buyers dropped by about $30-50.

For more details on Declining propylene values trigger a $200 collapse in Asian PP offers click here

ABS and PS prices plummet again on deteriorating demand and falling feedstock values

Hushed demand from Asia - particularly China, and persistently falling input costs have brought down prices of ABS and PS in Asia.
Though sellers from South Korea and Taiwan have quoted CFR China offfers for ABS at US$1700/MT, it is believed that they are willing to settle deals fifty dollar lower from 'sporadic and hard to find' Chinese buyers.

For more details on ABS and PS prices plummet again on deteriorating demand and falling feedstock values click here

Deteriorating ethylene and PE markets form a viscous circle of falling prices

Lackluster downstream demand from Asia has pressured ethylene prices to fall again. This will lead to yet another round of price corrections. Over the past weeks, ethylene prices have been hit by passsive buyer demand resulting in weakening price of all poylethlyenes.

For more details on Deteriorating ethylene and PE markets form a viscous circle of falling prices click here

Oil prices see marginal increase as date of OPEC meet draws closer

OPEC has called for an extraordinary meet on 24th of this month, expectantly to mull an output cut plan of 1-2.5 mln bpd in a bid to fight deteriorating oil prices that have more than halved since Jully.

For more details on Oil prices see marginal increase as date of OPEC meet draws closer click here

Sanyo Petrochemical to continue reduced runs for its steam cracker

Slowing demand for ethylene derivatives in Asia has continued Sanyo Petrochemical's run of operating its only steam cracker at 95% for third straight month since August. The global recession and slidiing prices of ethylene derivatives has impacted Japanese petrochem maker's decision.

For more details on Sanyo Petrochemical to continue reduced runs for its steam cracker click here

Six month petrochem exports for Iran touch US$6bln

According a report in Tehran Times, Iran's export of the petrochemicals has reached US$6 bln for the period between March 20 and October 20 (first six months of Iranian calendar) as said by senior autthority with Petrochemical Industry Investment Company.

For more details on Six month petrochem exports for Iran touch US$6bln click here

BASF curtails caprolactam production to 65%

Since the end of September, BASF has reduced its worldwide production of caprolactam to about 65%. The production of caprolactam-used in manufacture of plastic polyamide 6-will be reduced at the compaany's sites in Freeport, Texas; Antwerp, Belgium; and Ludwigshafen, Germany.

For more details on BASF curtails caprolactam production to 65% click here

New green roof waterproofing system unveiled

Dow Hyperlast has unveiled VERDISEAL, a verdant roof membrane waterproofing system that balances economic high performance with flexibility in installation and use to overcome problems with roof gardeen water leakage, root damage and others.

For more details on New green roof waterproofing system unveiled click here

First PP-based ultra-transparent, low-melt flow resin unveiled for use in extrusion blow molding

LyondellBasell has unveiled first propylene-based copolymer, Pristene RM2091 which exhibits ultra-high transparency/low-melt flow for use in extrusion blow molding applications and forms a part of commpany's metallocene-based resin family.

For more details on First PP-based ultra-transparent, low-melt flow resin unveiled for use in extrusion blow molding click here

US' largest maker of block-molded EPS insulation to shut down two plants

Insulfoam-a division of Carlisle Construction Materials and US' largest maker of block-molded expanded polystyrene insulation-have announced that the company's Marlin-based plant in Texas will be shutt down owing to ailing construction industry and a decline in new property sales in the US.

For more details on US' largest maker of block-molded EPS insulation to shut down two plants click here

South Korean army to have protective helmets made of Dyneema® HB26

The Republic of Korea has selected protective helmets for its army which feature Dyneema® HB26 material to obtain the optimum combination of fragment-stopping performance and light weight. The helmetss offer up to 20% weight savings compared to conventional aramid helmets, together with a higher ballistics performance when using the v50 test which is a volume milestone for Dyneema® HB26 in a helmet application.

For more details on South Korean army to have protective helmets made of Dyneema® HB26 click here

Petrochemical boom in the Gulf decelerates

Engineering, procurement and construction (EPC) contracts awarded in the Gulf petrochemicals sector for 2005 totalled to US$17.5 bln and US$16.3 bln in 2006. The value of EPC contracts for 2007 more tthan halved below US$7 bln signaling the beginning of the end of the boom in the Gulf petrochemical sector.

For more details on Petrochemical boom in the Gulf decelerates click here

Staff that was earlier employed by Mitsui Oil Asia charged in Singapore

Three ex-employees of Mitsui & Co's Singapore oil trading arm have been charged in Singapore. Former naphtha trader for MOA - Noriyuki Yamazaki was charged with falsification of documents. Ex- GM for trading Wada Takayoshi, was charged with abetting Yamazaki in a conspiracy to falsify documents, and Takahashi Masatsugu, the former executive vice president, faces 130 charges of falsifying accounting documents related to naphtha mark-to-market profit and loss figures.

For more details on Staff that was earlier employed by Mitsui Oil Asia charged in Singapore click here

Call for Papers for Leachables & Extractables Conference, May 2009

In the pharmaceutical sector the need for a product recall can ultimately be a matter of life or death. Product recalls are extremely costly to the pharmaceutical industry: the financial implications,, not to mention the inevitable damage to a company's safety reputation can have long-standing consequences.

For more details on Call for Papers for Leachables & Extractables Conference, May 2009 click here

Hurricane damage and weakening economies compel DuPont to reduce annual earning outlook

Q3 profits at DuPont have dropped by 30% to US$367 mln, caused by loss of production due to hurricane damage and weakening economies of North America and Western Europe. This scenario has compelled DuuPont to reduce its earning outlook for the year, even as sales rise to more than estimated figure of US$7.

For more details on Hurricane damage and weakening economies compel DuPont to reduce annual earning outlook click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of October 20, 2008

CRUDE OIL
Crude oil futures have fallen to hover above US$70/barrel during the week of October 20, 2008. A 7.5% drop in oil prices this week has been caaused by rising inventories in USA and deteriorating global fuel demand.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of October 20, 2008 click here

European Commission clears creation of JV between DOW and Kuwait Petroleum Corp unit

The European Commission has cleared the creation of a joint venture between Dow Chemical Co. (DOW) and a unit of the Kuwait Petroleum Corporation. The two will jointly control the new company, which wwill manufacture and market polyethylene, ethylenamines, ethanolamines, polypropylene, and polycarbonate.

For more details on European Commission clears creation of JV between DOW and Kuwait Petroleum Corp unit click here

Oriented polypropylene (OPP) films for packaging and labeling applications

ExxonMobil Chemical is to demonstrate its leadership in films technology for flexible packaging and highlight solutions that deliver economic, performance and sustainability benefits. The company willl showcase its Metallyte™, Bicor™ and Oppalyte™ oriented polypropylene (OPP) films for packaging applications and Label-Lyte™ OPP films for the labeling markets.

For more details on Oriented polypropylene (OPP) films for packaging and labeling applications click here

Oriented polypropylene (OPP) films for packaging and labeling applications

ExxonMobil Chemical is to demonstrate its leadership in films technology for flexible packaging and highlight solutions that deliver economic, performance and sustainability benefits. The company willl showcase its Metallyte™, Bicor™ and Oppalyte™ oriented polypropylene (OPP) films for packaging applications and Label-Lyte™ OPP films for the labeling markets.

For more details on Oriented polypropylene (OPP) films for packaging and labeling applications click here

Sony & UK's EWC ink 1-year deal to recycle PlayStation consoles

UK-based Electronic Waste Company (EWC) and consumer electronics giant, Sony have inked a one year deal to recycle around 300,000 discarded PlayStation consoles and convert them into user friendly connsumer products.

For more details on Sony & UK's EWC ink 1-year deal to recycle PlayStation consoles click here

Mexico's state-owned co. sees YOY petrochemical output rise for Sep

Mexico's state-owned petroleum company, Pemex's September production of petrochemicals touched 1.014 mln metric tons of petrochemicals witnessing an YOY increase of 8.1%. Amongst the petrochemicals whhich saw a YOY increase include ethylene, ethylene-oxide, propylene, toluene and ethyl-benzene.

For more details on Mexico's state-owned co. sees YOY petrochemical output rise for Sep click here

Potential OPEC output cut inches up crude prices

Amidst the potential curtailment in crude oil output from OPEC nations, the oil prices inched up 3% giving a tad push to the global oil markets. US crude rallied $2.40 to settle at US$74.25/barrel andd London Brent crude upped $2.

For more details on Potential OPEC output cut inches up crude prices click here

Green carpet made from recycled PET bottles replaces red carpet at Tokyo Intl Film Festival

Japan's Teijin Ltd and Coca-Cola (Japan) Company Ltd produced a "Green Carpet" for the opening ceremony of the 21st Tokyo International Film Festival. The Green Carpet, made completely from approximattely 18,000 PET (polyethylene terephthalate) bottles, replaced the traditional red carpet at the ceremony held on October 18, 2008.

For more details on Green carpet made from recycled PET bottles replaces red carpet at Tokyo Intl Film Festival click here

KraussMaffei unveils new all-electric, energy saving AX series

KraussMaffei's new AX injection moulding machine series with up to 60% greater energy efficiency and a 25% smaller footprint for a fully automated, completely enclosed production cell, will help to sllash manufacturing costs in standard applications.

For more details on KraussMaffei unveils new all-electric, energy saving AX series click here

Police Department in US adopts ballistic helmets made with Dyneema® HB26 composite

The Denver Police Department in Colorado is the first US organization to adopt the new Protech Delta LT helmets made employing ultra-strong Dyneema® HB26 unidirectional (UD) composite from DSM Dyneemaa.

For more details on Police Department in US adopts ballistic helmets made with Dyneema® HB26 composite click here

High strength, high flow, impact resistant PP block co-polymer for food packaging

Piber Group, Italian food packaging specialist is using Borealis' Bormod™ BJ368MO- a ground-breaking polypropylene (PP) block copolymer-for the production of wide range of injection moulded tubs for ffood packaging.

For more details on High strength, high flow, impact resistant PP block co-polymer for food packaging click here

Borouge, Enpro to build logistics hub in China; ink 10-year logistics contract

Borouge, a leading provider of innovative, value creating plastics solutions, has recently inked a service contract with China's Enpro Supply Chain Management Limited to build the Borouge Guangzhou Loogistics Hub in the Nansha area of Guangzhou, China.

For more details on Borouge, Enpro to build logistics hub in China; ink 10-year logistics contract click here

Poland's largest chemical maker to acquire state-owned PVC group

Ciech, largest chemical manufacturer in Poland has recently signed a letter of intent to acquire the only PVC maker in the country, Anwil for EUR 500 mln. Anwil is the fully owned subsidiary of the Pooland's government-owned petrochem group, PKN Orlen.

For more details on Poland's largest chemical maker to acquire state-owned PVC group click here

Possible Chinese ban on imported recyclable plastics alarms UK

The British Plastics Federation (BPF), UK's leading trade association has voiced concerns that a Chinese ban on imports of plastics for reprocessing could dampen UK's efforts to comply with the landfiill diversion targets.

For more details on Possible Chinese ban on imported recyclable plastics alarms UK click here

Leading HK-financed toy processing factory faces closure on global economic woes

Smart Union, Hong Kong Stock exchange-listed toy processing company, announced that it was open for acquisition owing to rising debts, tightening credit, and the economic recession in the US and Europpe.

For more details on Leading HK-financed toy processing factory faces closure on global economic woes click here

Saudi Arabia Petrochemicals to witness massive increase in capacity in H2 2008

The Saudi petrochemical sector will witness a massive increase in capacity in H2 2008, securing the country's position as a global petrochemicals supplier, according to BMI's latest Saudi Arabia Petroochemicals Report.

For more details on Saudi Arabia Petrochemicals to witness massive increase in capacity in H2 2008 click here

EQUATE's new ethane-fed steam cracker to go on stream by 2008 end

Industry sources believe that Kuwait's EQUATE Petrochemical Company is on verge on setting its second ethane-fed steam cracker at Shuaiba underway by the year end. Once operational, the new 850,000 tppa ethylene cracker, owned by The Kuwait Olefins Company (TKOC), will enable EQUATE to run both its ethylene glycol units-the older units having 400,000 tpa capacity and the new having 600,000 tpa production capacity.

For more details on EQUATE's new ethane-fed steam cracker to go on stream by 2008 end click here

Concerns of OPEC's possible production cut plan push oil prices up by a dollar

New York's main contract, light sweet crude for November delivery rose by over a dollar to US$72.97. Oil prices witnessed a one dollar rise as concerns mount about OPEC's possible plans to announce prroduction cuts at a special meeting in Vienna this week.

For more details on Concerns of OPEC's possible production cut plan push oil prices up by a dollar click here

PS values in Asia flattened by declining styrene monomer and benzene values

Polystyrene prices in Asia have plunged further south by hundred dollars along with falling feedstock SM and benzene values, as most buyers prefer to wait in the sidelines. Benchmark CFR China offers for GPPS have dropped to range at lows of US$1250-1300/MT, but continue to be met with dampened buying interest pegged at least fifty dollars lower as feedstock Styrene Monomer prices dipped to the US$900/MT mark.

For more details on PS values in Asia flattened by declining styrene monomer and benzene values click here

PP demand in Europe plunges on reduced demand from several sectors, particularly automotive

A collapse in end user demand in sectors such as automotive, construction, textile, rigid food and beverage packaging, triggered by the recent global economic downturn has affected polypropylene demannd in Europe.

For more details on PP demand in Europe plunges on reduced demand from several sectors, particularly automotive click here

Asian propylene prices plunge on weak PP, ACN and phenol demand

Producers of PP, ACN and phenol have drastically lowered their buy of feedstock propylene. This lackluster downstream buying has triggered a two hundred dollar dive in propylene prices in Asia. Even aas CFR China offers for spot cargoes for November shipment have tanked to US$700-750/MT, buying interest fails to get revived amid persistently weak demand and sluggish market outlook.

For more details on Asian propylene prices plunge on weak PP, ACN and phenol demand click here

Cracker margins in Europe tank: ethylene buyers call for renegotiation of Q4 contracts

As the decline persists in both crude as well as naphtha prices, European contract cracker margins are threatening to breach levels of €1,000/ton ($1,351/ton), as per ICIS. Naphtha was currently beingg assessed at $495-505/ton CIF (cost insurance freight) NWE and spot ethylene prices are falling fast on poor demand and bearish sentiment globally to mid €600s/ton.

For more details on Cracker margins in Europe tank: ethylene buyers call for renegotiation of Q4 contracts click here

Government of India de-reserves PET films, inj molded thermoplastic products

In a bid to improve industry competitiveness, the Government of India has removed 14 products from the list of items that can be exclusively manufactured by the small scale industries, cutting the SSII list to just 21.

For more details on Government of India de-reserves PET films, inj molded thermoplastic products click here

LANXESS AG to become sole owner of Brazil's Petroflex; acquires 97% stake

Specialty Chemical group, LANXESS AG-which held 70% shares in Brazilian producer of elastomers, Petroflex S.A-has further acquired 27% for EUR 60 mln, giving it a total interest of around 97% in the BBrazilian company.

For more details on LANXESS AG to become sole owner of Brazil's Petroflex; acquires 97% stake click here

Formosa Plastics Group witness YOY reduction in September sales

Taiwan's Formosa Plastics Group (FPG) has recorded a year-on-year (YOY) decline of 10.1% for combined sales (US$3.29 billion) in month of September and month-on-month decline of 26.34%. The three subssidiaries of FPG- Formosa Plastics Corp (FPC), Nan Ya Plastics Corp and Formosa Chemical & Fibre Corp (FCFC)-have witnessed two digit YOY sales decline for September.

For more details on Formosa Plastics Group witness YOY reduction in September sales click here

New recyclable material to replace PU in steering wheels

Autoliv Inc., a the global leader in automotive safety systems has developed a new material-a thermoplastic substance injection molded onto the magnesium or steel structure-for steering wheels. The neew patented product will be introduced on the new 2009 Renault Mégane and will be exhibited at the upcoming Paris Auto Show.

For more details on New recyclable material to replace PU in steering wheels click here

Chile Petrochemicals Report 2008

Chile's petrochemicals industry is relatively small compared to other Latin American countries. The nation is heavily dependent on Argentina for its natural gas and power supplies due to heavy demand coupled with a lack of alternative sources of feedstock required for the petrochemicals and other industries.

For more details on Chile Petrochemicals Report 2008 click here

South Africa Petrochemicals Report Q3 2008

Despite its relatively weak oil and gas reserves situation, South Africa provides the most low-risk option for the petrochemicals industry and possesses the continent's second-largest refining capacitty, according to BMI's latest South Africa Petrochemicals Report.

For more details on South Africa Petrochemicals Report Q3 2008 click here

Naphtha prices in Asia fall for fourth consecutive week: halve from early August

Naphtha prices in Asia have dropped by over 50%, halving since early August. Cargoes for H1-December loading were pegged at US$443.50-444.50/ton (€328.19-328.93/ton) CFR (cost and freight) Japan as peer ICIS pricing.

For more details on Naphtha prices in Asia fall for fourth consecutive week: halve from early August click here

Strong Growth in the Polypropylene Market

As the newest study from Ceresana Research shows; in recent years, the worldwide PP market carried a volume of 45 million tons and a value of approximately 65 billion US-Dollars (47.4 billion Euros). During the next few years, there will be a considerable increase in PP capacities and an improved supply of the preliminary product, propylene.

For more details on Strong Growth in the Polypropylene Market click here

Thailand's PTT to up benzene, paraxylene capacity at its new complex to 100% by 2009

Thai petrochem company, PTT Aromatics and Refining (PTTAR) plans to up the capacity of benzene and paraxylene to 100% at its No.2 petrochemical complex by 2009. The Map Ta Phut-based petrochemical commplex-which initiated on-spec production from September end, is running at 60-70% capacity.

For more details on Thailand's PTT to up benzene, paraxylene capacity at its new complex to 100% by 2009 click here

Mitsubishi's Mizushima-based naphtha cracker sees unexpected shut down

Owing to a minor crack in the piping joint, Japan's Mitsubishi Chemical Corp had temporarily closed downed its naphtha plant in Mizushima plant. The plant, which has the ethylene production capacity oof 450,000 mtpa, is expected to be on stream by Oct 23 following the replacement of the cracked pipe joint.

For more details on Mitsubishi's Mizushima-based naphtha cracker sees unexpected shut down click here

Global financial crunch may impede progress on IOC's petrochem projects

The new petrochem projects in the pipeline for state-owned Indian Oil Corp may be affected due to the crippling global financial situation. The company is making preliminary assessments on its plannedd oil refinery processing units at Haldia (120,000 bpd) and Mathura (160,000 bpd) refineries.

For more details on Global financial crunch may impede progress on IOC's petrochem projects click here

Crude prices fall tad lower to US$78/barrel due to ailing demand

Global markets pushed a bit higher this week as United States and European economies announced plans to inject trillions of dollars into weakening finance companies. However, the story on Wednesday waas a bit different as the panic of deepening global economic crisis dominated the finance rescue schemes announced.

For more details on Crude prices fall tad lower to US$78/barrel due to ailing demand click here

Technip awarded contracts by Repsol Polimeros for plant at Sines, Portugal

Repsol Polimeros, a subsidiary of Repsol YPF, Spain, has awarded a lumpsum turnkey contract, for the supply of two new furnaces for an existing steamcracker located in Sines, Portugal. The new furnacees will be based on Technip's proprietary GK6 cracking furnace technology and will expand the Repsol plant capacity by 160,000 tons.

For more details on Technip awarded contracts by Repsol Polimeros for plant at Sines, Portugal click here

Oil prices drop by over two dollars, closing above US$78

As the market exhilaration that international bank rescue efforts will aid recovery of global financial markets subsided, oil prices dropped by two dollars on concerns about the shape of the global ecconomy.

For more details on Oil prices drop by over two dollars, closing above US$78 click here

Improved buying sentiments and financial aid pumped into global markets drive up ethylene prices

After plunging by almost 200 dollars last week, ethylene prices in Asia have moved up to US$810/MT. This ten dollar rise can be attributed to recovering global financial markets as financial aid startts getting pumped into markets along with revival in buying sentiment.

For more details on Improved buying sentiments and financial aid pumped into global markets drive up ethylene prices click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of October 13, 2008

CRUDE OIL
Crude oil for November delivery fell by 10% to US$77.70 a barrel on the New York Mercantile Exchange, the lowest settlement since Sept. 10, 20007.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of October 13, 2008 click here

Ter Hell Plastic represents Borealis as new distributor for advanced packaging and healthcare solutions at Fakuma 2008

Ter Hell Plastic GmbH has been selected by Borealis, a leading provider of innovative, value creating plastics solutions, to distribute its advanced polyolefin materials to the thin wall packaging, hoouseware, caps and closures, and healthcare sectors.

For more details on Ter Hell Plastic represents Borealis as new distributor for advanced packaging and healthcare solutions at Fakuma 2008 click here

REACH legislation hits the polymer Industry

The polymer industries' concerns about REACH legislation has been confirmed with the EU Member States nominating 15 substances for the first REACH candidate list, 8 of these are regularly used in Polyymer formulation.

For more details on REACH legislation hits the polymer Industry click here

Shanghai Chemical Industry Park to house Sinopec's integrated refinery & petrochem projects

A new integrated refinery and petrochemical project is expected to come in Shanghai as per the cooperation agreement between China Petroleum and Chemical Corp (Sinopec Group) and the Shanghai municipaal government.

For more details on Shanghai Chemical Industry Park to house Sinopec's integrated refinery & petrochem projects click here

Korea's Taekwang Industrial to take its PTA plant off stream for a week

Korean company, Taekwang Industrial Co Ltd will take its 1 mln tpa PTA plant off stream for a week long maintenance activities. The Ulsan-based plant is to shut down on Oct 16 and will resume operatioons on Oct 23 without affecting any of its customers.

For more details on Korea's Taekwang Industrial to take its PTA plant off stream for a week click here

Thailand's IMM maker to penetrate Polish market via local partnership

Thailand-based producer of injection molding and extrusion machinery, SMC Corporation Limited will join hands with Poland's P&F Wartacz. The Thai-Polish collaboration will leverage P&F Wartacz's 18 yeears of expertise in the Polish plastics processing sector including injection moulding machines, raw material feeders, dye batchers and other machines.

For more details on Thailand's IMM maker to penetrate Polish market via local partnership click here

China poised to be largest consumer of naphtha by 2015

American company, FACTS Global Energy reported the ethylene production capacity of Asia-Pacific region to reach 64 mln tpa by 2015. The report asserted that a major surge in ethylene will be witnessedd within the period of 2009-2011.

For more details on China poised to be largest consumer of naphtha by 2015 click here

Shanghai to house BASF's PU-based automotive components plant by 2010

World's leading chemical company, BASF will build its third Asian production and development plant for its Cellasto® polyurethane-based automotive components at Shanghai by 2010. The new Cellasto manuufacturing site will be integrated with the company's already existing site in Shanghai and will be capable of producing auto components for more 5 mln vehicle per annum.

For more details on Shanghai to house BASF's PU-based automotive components plant by 2010 click here

US-based dairy to adopt Sidel's dry preform decontamination system solution

Sidel's Sensofill FMm Combi Ultra line has been selected by a leading US-based manufacturer and distributor of dairy and milk products, Byrne Dairy. Sensofill FMm Combi Ultra line is an 18,000 bottle//hour complete line incorporates Sidel's Predis™ dry preform decontamination system with bottle blow molding and filling on a Sidel Combi line.

For more details on US-based dairy to adopt Sidel's dry preform decontamination system solution click here

Custom made TPU featured in breast self-exam device

Wholly owned subsidiary of Bayer MaterialScience LLC - Deerfield Urethane, Inc has joined forces with BHS International, a breast health company for development and production of a breast self-examinaation aid under the name Liv® Aid.

For more details on Custom made TPU featured in breast self-exam device click here

Methanol to polyolefins process by Total

French oil and petrochemicals group Total has inaugurated a €45 mln demonstration plant to produce olefins and polyolefins from methanol at Feluy, Belgium. The facility will assess the feasibility of two integrated processes using methanol as a feedstock.

For more details on Methanol to polyolefins process by Total click here

Operations resume at CPC's No. 5 cracker, as CPC shutters No. 4 cracker for maintenance

CPC Corp., Taiwan's state-owned oil refiner, has restarted its No. 5 cracker, while shutting its 350,000 tpa No. 4 naphtha cracker in Kaohsiung for a month long regular maintenance. The No. 5 plant, with 500,000 tpa ethylene capacity was closed on Aug.

For more details on Operations resume at CPC's No. 5 cracker, as CPC shutters No. 4 cracker for maintenance click here

Ethylene capacity in Asia to spike from 40 mln tpa to 64 mln tpa by 2015

An upsurge in capacity additions is expected in Asia-Pacific region, scheduled to come on stream in the period from 2009-11, peaking in Q1 and Q4 of 2009. Ethylene capacities will increase to over 644 mln tpa from 40 million tpa by 2015.

For more details on Ethylene capacity in Asia to spike from 40 mln tpa to 64 mln tpa by 2015 click here

Ineos Italia to be acquired by Italian group?

It seems likely that PVC and VCM producer Ineos Italia could be acquired by a consortium headed by Italian businessman Fiorenzo Sartor, based in Treviso, near Venice, owns a distribution company calleed Videa.

For more details on Ineos Italia to be acquired by Italian group? click here

Premiums on Asian naphtha dip to discounts on slow demand

Asian naphtha that was fetching a premium of US$130-140 last month, due to severe deterioration in demand - has seen an extreme fall in its spread against Dubai, (crack spread), to a discount less thaan US$7/ton.

For more details on Premiums on Asian naphtha dip to discounts on slow demand click here

Taiwan's Formosa reduces operating rates at three naphtha crackers

Taiwan's Formosa plans to reduce operating rates at three of its naphtha crackers, through maintenance shutdowns, as the global economic slowdown pulls down demand and takes its toll on production marrgins.

For more details on Taiwan's Formosa reduces operating rates at three naphtha crackers click here

Constar ink 4-year PET packaging supply agreement with Pepsi

Leading global producer of PET containers, Constar International Inc. announced that it has inked a four year PET packaging supply agreement with Pepsi. The agreement covers supply of both bottles andd preforms for cold fill applications beginning on January 1, 2009.

For more details on Constar ink 4-year PET packaging supply agreement with Pepsi click here

Russia's Sibur Neftehim awards EUR 45 mln contract for ethylene plant expansion

Technip has been awarded a €45 mln contract by Sibur Neftehim (a subsidiary of Sibur Moscow Holding) for engineering and procurement to expand an ethylene plant in Kstovo, Russia. The plant will be baased on Technip's proprietary technology.

For more details on Russia's Sibur Neftehim awards EUR 45 mln contract for ethylene plant expansion click here

Amcor Flexibles sells off UK specialist plant to create more focused portfolio

Leading provider of flexible packaging solutions, Amcor Flexibles recently announced that it has entered into an agreement to sell its specialist plant AF Camvac in Thetford, United Kingdom (UK), to UUK based holding company Gil Investments.

For more details on Amcor Flexibles sells off UK specialist plant to create more focused portfolio click here

GF Piping Systems to outlay EUR 21 mln in distribution, production capacityGF Piping Systems to outlay EUR 21 mln in distribution, production capacity

Swiss headquartered GF Piping Systems will make an investment of CHF (Swiss francs) 21 mln (EUR 13 mln) at its Schaffhausen, Switzerland location in order to expand distribution and production. CHF 144 mln of this amount will be invested in expanding the current distribution centre and improving its efficiency, while CHF 7 mln will be spent to expand manufacturing capacity at the Schaffhausen plant.

For more details on GF Piping Systems to outlay EUR 21 mln in distribution, production capacity click here

Markets for non-metallic materials in Oilfield Engineering

As oil exploration reaches new water depths and extremes of temperature, there is a need to validate high performance materials for key functions. The recent MERL Oilfield Engineering with Polymers cconference, organised by Applied Market Information and held in London, 7-8 October, had record breaking numbers, reflecting the high level of interest in the use of non-metallics in this field.

For more details on Markets for non-metallic materials in Oilfield Engineering click here

Polypropylene markets of Asia fail to take off post-Chinese holidays

Asian polypropylene demand that had come to a standstill before the week long Chinese national holidays, has failed to take off. PP market outlook continues to be pessimistic due to listless demand frrom China.

For more details on Polypropylene markets of Asia fail to take off post-Chinese holidays click here

Crude oil plunges to US$78-the year's lowest level

Crude oil for November delivery fell by 10% to US$77.70 a barrel on the New York Mercantile Exchange, the lowest settlement since Sept. 10, 2007. Brent crude oil for November settlement also dipped byy 10% to settle at US$74 a barrel on London's ICE Futures Europe exchange, the lowest settlement since Sept.

For more details on Crude oil plunges to US$78-the year's lowest level click here

Falling SM, ACN and Butadiene values undermine ABS prices in Asia

As feedstock SM, ACN, butadiene prices continue to fall, they have brought down downstream ABS prices. CFR China ABS prices have dipped to US$1900 even as most sellers have quoted offers for October sshipment at US$1930-1950/MT.

For more details on Falling SM, ACN and Butadiene values undermine ABS prices in Asia click here

A low molecular weight modified polymer as active ingredients for liquid detergents

BASF is adding a low molecular weight modified polymer to its range of active ingredients for liquid detergents. The new additive Luvipur® 10 enhances the detergent power of liquid detergents for end consumers and will be supplied from 2009.

For more details on A low molecular weight modified polymer as active ingredients for liquid detergents click here

Unenthusiastic buying keeps outlook in PVC markets of Asia pessimistic

Unenthusiastic buying and lack of deal conclusion has kept outlook for PVC pessimistic in Asia in the week of October 13, 2008. Sellers, who have reduced CFR China offers for October shipment to US$9220/MT, are encountering a further decline of twenty dollars in buying intentions.

For more details on Unenthusiastic buying keeps outlook in PVC markets of Asia pessimistic click here

VCM prices fall on damp Chinese buying

A persistent fall has been witnessed in VCM prices to US$700/MT in Asia in the week of October 13, 2008, in line with falling input values, restrained demand from China and declining downstream PVC maarket sentiments.

For more details on VCM prices fall on damp Chinese buying click here

A styrenic material that has the property to kill microbes

A material belonging to the styrene plastic product line that has the property to kill microbes has been launched by BASF. Named Luran® S BX 13042, it is currently the only ASA (acrylonitrile-styrene--acrylate copolymer) with an antimicrobial effect.

For more details on A styrenic material that has the property to kill microbes click here

Asian MEG producers cutback operating capacities

MEG offers are being heard at US$740/MT in Asia this week, while buyers continue to scout for offers that lower by about 15 dollars. Prices being negotiated for spot MEG cargoes continue to deterioratte in the import market of Asia as market outlook continues to be listless.

For more details on Asian MEG producers cutback operating capacities click here

Ethylene markets in Asia crumble, prices cave in, as panic spread amongst sellers

Ethylene prices in Asia have sunk by almost US$190/MT in the week. Several factors are responsible for this collapse: Naphtha prices nose dived by about 30 dollars, as crude dipped by about five dollaars on Friday.

For more details on Ethylene markets in Asia crumble, prices cave in, as panic spread amongst sellers click here

Lackluster buying flattens propylene prices in Asia by over US$150

Deficient downstream demand in Asia coupled with mounting inventories have been responsible for pulling down propylene prices by over US$150/MT to US$900/MT FOB Korea. Buying interest continues to wanne as players prefer to wait and watch for yet another price dip in line with plummeting feedstock naphtha prices that sunk lower than US$600/MT.

For more details on Lackluster buying flattens propylene prices in Asia by over US$150 click here

PetroChina postpones new CDU and ethylene project start-up to next year

PetroChina has deferred start-up of its new 100,000 bpd crude distillation unit (CDU) and 1 mln tpa ethylene project at Dushanzi refinery situated in Xinjiang province to 2009. Both the projects were planned to be constructed by the end of 2008.

For more details on PetroChina postpones new CDU and ethylene project start-up to next year click here

Asian naphtha crackers face uncertainty and a challenging future

South Korea's largest ethylene maker, Yeochun Naphtha Cracking Centre (YNCC) has planned to curtail production rate by about 5-20% at its three naphtha crackers processing 1.8 mln tpa. Another South KKorean naphtha processor, SK Energy will keep running its No.

For more details on Asian naphtha crackers face uncertainty and a challenging future click here

Sipchem Q3 profits rise 52% due to price improvement, sales volume

Saudi International Petrochemicals Company (Sipchem) Q3 profit increased 57% to SR137 million (US$36.5 mln) owing higher volume of sales and prices. The net income in the nine months to September 30 rrose to SR502 mln (approx.

For more details on Sipchem Q3 profits rise 52% due to price improvement, sales volume click here

India to deliver 35,000 tons naphtha to US amidst sluggish Asian demand

Amidst the slump in Asian naphtha demand, 35,000 tons of India's naphtha will reportedly be delivered to the US. The naphtha which is set to load the West coast of India on Oct 18 is been seen as an uunexpected arbitrage owing to the overcapacity of naphtha in Asia.

For more details on India to deliver 35,000 tons naphtha to US amidst sluggish Asian demand click here

New cost reducing, resource conserving process unveiled to manufacture MMA

German industrial group, Evonik Industries has developed a new, pioneering manufacturing process for methyl methacrylate (MMA) under the name AVENEER. The new process is expected to increase the compeetitveness of future methyl methacrylate monomers and polymers.

For more details on New cost reducing, resource conserving process unveiled to manufacture MMA click here

BASF unveils ASA copolymer with antimicrobial effect

BASF, the world's largest chemical company has unveiled Luran® S BX 13042- ASA (acrylonitrile-styrene-acrylate copolymer)-possessing property to kill microbes. The antimicrobial material contains silvver compounds that are incorporated into the plastic in order to impart its surface with a germicidal effect.

For more details on BASF unveils ASA copolymer with antimicrobial effect click here

Exxsol hydrocarbon fluids plant in Singapore sees 130,000 tpa capacity addition

ExxonMobil Chemical have seen successful completion of its 130,000 tpa capacity expansion at its Jurong Island-based Exxsol hydrocarbon fluids plant in Singapore. This capacity increase ups the total capacity to 500,000 tpa.

For more details on Exxsol hydrocarbon fluids plant in Singapore sees 130,000 tpa capacity addition click here

100% post-consumer rPET liquid oval containers to benefit pharmacists

Rexam Prescription Products, a global player in rigid plastic packaging is reportedly first packaging company to develop and market a liquid prescription oval made with 100% post-consumer recycled PETT resin.

For more details on 100% post-consumer rPET liquid oval containers to benefit pharmacists click here

'Car of the Year 2008' features Rhodia Technyl® Polyamides

Rhodia Polyamide's Technyl® Polyamide Engineering Plastics have been used for a number of components in the new super compact Fiat 500 city car - voted 'Car of the Year 2008'. Technyl® Polyamide Enginneering Plastics offered significant benefits including weight reduction, the design of compact parts with function integration and cost reduction for the Fiat's super compact car.

For more details on 'Car of the Year 2008' features Rhodia Technyl® Polyamides click here

Rhodia to make changes to its Polyamides R&D, production resources in Europe

In a bid to adapt itself to the changes in the global polyamides marketplace, engineering polymers group-Rhodia is planning to optimize the research, development and production resources of its Polyammide businesses in Europe.

For more details on Rhodia to make changes to its Polyamides R&D, production resources in Europe click here

BASF ups prices for acetylene-based specialty intermediates and carbonates

BASF increases the sales prices globally for acetylene-based specialty intermediates and carbonates by up to 10% with immediate effect or as contracts allow. The products are as follows:
- acetylene alcohols, such as propargyl alcohol, as well as other products within this product range;
- vinyl monomers, for example vinyl caprolactam; triethylene glycol divinyl ether as well as other product within this product range;
- carbonates, including Propylene carbonate S, Ethylene carbonate S and carbonate mixtures.

For more details on BASF ups prices for acetylene-based specialty intermediates and carbonates click here

Fujian ethylene project to start operations by start March 2009

The Fujian ethylene project-a JV of Sinopec, Exxon Mobil and Saudi Arabian Oil- is expected to start operations in the Q1 of 2009. The project's construction will see completion by end of 2008. Sinopeec earlier planned to double the project's capacity between 2010 and 2015 to meet China's growing oil demand.

For more details on Fujian ethylene project to start operations by start March 2009 click here

Mitsubishi Chemical's naphtha cracker faces unexpected shut down

Japan's leading petrochem company, Mitsubishi Chemical Corp. shuttered a naphtha cracker at Mizushima in Western Japan. The cracker-which has ethylene production capacity of 496,000 tpa-was unexpecteddly shut down led by an immediate inspection after sensing an unusual odour from the cracker.

For more details on Mitsubishi Chemical's naphtha cracker faces unexpected shut down click here

Korean company to shut 1 mln tpa PTA plant for week-long maintenance

Korean company, Taekwang Industrial is planning to go for a week long maintenance shut down for its 1 mln tpa purified terephthalic acid (PTA) plant at Ulsan from Oct 16. However, the supplies to conttract customers are not likely to be affected.

For more details on Korean company to shut 1 mln tpa PTA plant for week-long maintenance click here

BASF Catalysts' up production at Spain facility to meet global PP catalysts demand

BASF Catalysts has completed a significant debottlenecking project increasing capacity at its production facility in Tarragona, Spain by 25% to help meet growing global demand for polypropylene catalyysts.

For more details on BASF Catalysts' up production at Spain facility to meet global PP catalysts demand click here

New PE adhesive resin unveiled for pipe coatings industry

LyondellBasell Industries has unveiled a new polyethylene adhesive resin, Lucalen G3710E to address customer needs in the rapidly-expanding pipe coatings industry. The new resin is used as an adhesivee layer in three-layer coating applications between fusion bonded epoxy resins and an HDPE top coat material.

For more details on New PE adhesive resin unveiled for pipe coatings industry click here

Status of benzene plants across Asia

In response to deteriorating SM demand and meager profit margin realization, upstream benzene producers are also reducing operating rates. Japan Energy Corp. has reduced run rates at benzene plants att its 207,000 tpa Chita unit and 100,000 tpa Mizushima by half.

For more details on Status of benzene plants across Asia click here

ONGC to borrow $1bn to fund proposed Rs 6400 cr aromatic complex at Mangalore

ONGC plans to borrow US$1 bln to fund its proposed Rs 6400 crore aromatic complex at Mangalore. ONGC Mangalore Petrochemicals Ltd (OMPL), a special purpose vehicle the state-run firm created for the pproject, has mandated SBI Caps to arrange for the funds for the US$1.

For more details on ONGC to borrow $1bn to fund proposed Rs 6400 cr aromatic complex at Mangalore click here

Hexion parent contributes US$540 mln to complete takeover of Huntsman

Apollo Management LP, the parent company of Hexion Specialty Chemicals Inc. has contributed US$540 mln in capital to help complete the takeover of Huntsman Corp. Hexion's attempt to cancel the US$6.5 bln Huntsman merger has been recently been thwarted when a Delaware judge ordered it to honor the buyout agreement, failing which Huntsman would seek at least US$3 bln in damages.

For more details on Hexion parent contributes US$540 mln to complete takeover of Huntsman click here

Panel rejects CPC's renewal plan for third naphtha cracker in Linyuan

The environmental impact assessment (EIA) panel of the Environmental Protection Administration (EPA) has ruled that if CPC Corp wished to move ahead with its NT$46 bln (US$1.4 bln) construction plan oof its third naphtha cracker, it would need to go through the EIA process with a new case committee.

For more details on Panel rejects CPC's renewal plan for third naphtha cracker in Linyuan click here

Lower weight and unmatched FST performance for aircraft interiors

In the quest to reduce fuel costs, airlines are scrutinizing every component of a plane for potential weight reduction. With the launch of Ultem* foam from SABIC Innovative Plastics, aircraft designerrs can leverage the best-in-class flame, smoke, toxicity (FST) performance of Ultem polyetherimide resin in a new product that is 10 - 20 times lighter than traditional plastic components.

For more details on Lower weight and unmatched FST performance for aircraft interiors click here

Rhodia to polyamide plant at Ceriano in Italy by mid-2009

As part of a €40 mln cost reduction program to improve the competitiveness of its polyamide businesses in Europe, Rhodia plans to shutter a polyamide plant at Ceriano in Italy by mid-2009. Slower growwth of polyamide in Europe as compared with quicker expansion in Eastern Europe, Latin America and Asia has triggered this decision.

For more details on Rhodia to polyamide plant at Ceriano in Italy by mid-2009 click here

Demand for sterile medical packaging in USA to reach US$6.5 bln in 2012

Demand for sterile medical packaging products is projected to reach $6.5 billion in 2012, as per a report by reportlinker.com. Growth will be driven by the shift to an older demographic, which will leead to a rising incidence of acute and chronic conditions and an increasing volume of patient activity.

For more details on Demand for sterile medical packaging in USA to reach US$6.5 bln in 2012 click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of October 6, 2008

CRUDE OIL
A $10 dip was witnessed in crude oil values in the week of October 6, 2008. Falling for the fourth consecutive day, oil prices ended the week at US$91 a barrel, on concerns that efforts to restrain the spreading financial crisis will not be successful in avoiding a further decline in oil demand.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of October 6, 2008 click here

Breakthrough research to repair spinal cord injuries using polymer coated nanoparticles

Purdue University researchers have developed a method of using nanoparticles to deliver treatments to injured brain and spinal cord cells. A team led by Richard Borgens of the School of Veterinary Meddicine's Center for Paralysis Research and Welden School of Biomedical Engineering coated silica nanoparticles with a polymer to target and repair injured guinea pig spinal cords.

For more details on Breakthrough research to repair spinal cord injuries using polymer coated nanoparticles click here

BASF's Ultramid selected for new Peugeot 308 sw's structural inserts

The new Peugeot 308 sw will exhibit its bodywork structural inserts manufactured using BASF's Ultramid® A3WG10 CR, new class of special polyamides which are reinforced with 50% glass fibers for high ddurability and strength.

For more details on BASF's Ultramid selected for new Peugeot 308 sw's structural inserts click here

PolyOne to manufacture PSG's Kostrate® Edge terpolymer in China

In addition to marketing and distribution in Asia Pacific region, PolyOne Corporation will start manufacturing of PSG's Kostrate® Edge brand terpolymer from its Shenzhen, China manufacturing facility..

For more details on PolyOne to manufacture PSG's Kostrate® Edge terpolymer in China click here

New nano-modified tooling prepreg for increased surface flatness & pin-free molds

UK-based Amber Composites recently unveiled a new nano-modified tooling prepreg called HX90N, a low temperature curing epoxy resin system. The new nano-modified tooling improves the surface flatness aand finish of tools made from various pattern materials including aluminum or epoxy tooling board.

For more details on New nano-modified tooling prepreg for increased surface flatness & pin-free molds click here

DSM Engineering Plastics to hike prices for from Jan 1, 2009

Effective January 1, 2009 or as per the contracts permit, DSM Engineering Plastics has announced a price increase for a number of its polymer materials in Europe, Middle East and Africa. Akulon PA 6 aand PA 6.

For more details on DSM Engineering Plastics to hike prices for from Jan 1, 2009 click here

EC fines 9 petrochemical companies US$955 mln for forming paraffin mafia

The European Commission has fined 9 petrochemical makers, including Sasol, Exxon Mobil, RWE, ENI, Hansen & Rosenthal, Repsol and Tudapetro a total of €676 mln for forming a paraffin mafia to fix pricees and portion out markets for wax.

For more details on EC fines 9 petrochemical companies US$955 mln for forming paraffin mafia click here

Coatings for Pipeline Protection

Pipeline operators are dependent on pipe coating integrity for fuel transport. Denis Melot of Total, Andre Koebsch of Petrobras, Mohamed Daoud of Abu Dhabi Co. for Onshore Oil Operations and John La Fontaine of ExxonMobil Development will be talking about their experience with pipe coatings at a conference organised by Applied Market Information: Pipeline Coating 2009 takes place 26-28 January at the Renaissance Hotel in Vienna, Austria.

For more details on Coatings for Pipeline Protection click here

Air Liquide invests €45-million in new air separation unit for supplies to Indian Oil

Malaysia's Air Liquide group - global supplier of industrial and medical gases, plans to invest €45 mln (Rs 300 crore) in India on a new air separation unit. This unit will meet the needs of Indian Oiil Corporation's 3 mln tpa Naphtha Cracker complex.

For more details on Air Liquide invests €45-million in new air separation unit for supplies to Indian Oil click here

Ethylene output for September loses 14% yoy in Japan

In the month of September, Japanese ethylene production dipped by 14% from the same month a year ago, as per government data. Ethylene output summed up to 528,400 tons in September this year, as againnst 614,100 tons in September 2007.

For more details on Ethylene output for September loses 14% yoy in Japan click here

Marginal recovery in oil prices after a drop below US$90

After plummeting for four consecutive days, oil prices have risen by over two dollars to US$90.06 a barrel on the New York Mercantile Exchange. Forecast to plunge further, oil prices have risen as invvestors have taken a brief halt from a selling frenzy to review the possibility of a global revival after the US government's sweeping economic bailout.

For more details on Marginal recovery in oil prices after a drop below US$90 click here

New transparent PP grade with superior optical properties for use in sterilizable applications

Borealis has introduced a new grade of Borclear™, a unique random copolymer family for highly transparent polypropylene (PP) blown and cast films. Borclear RE936CF was developed for use in food packagging and medical applications and offers film converters and cast film producers a product that provides cost-effective processing and significant end-user benefits including superior optical properties.

For more details on New transparent PP grade with superior optical properties for use in sterilizable applications click here

Ashland extends distribution for high performance composites in South African region

Ashland Performance Materials, a division of Ashland Inc., has reached a new distribution agreement for its high-performance composites products in the South African region. Effective Oct. 1, distribuution firm A.

For more details on Ashland extends distribution for high performance composites in South African region click here

Cereplast to supply Compostables® resin to Brazilian markets

Cereplast Inc., manufacturer of proprietary bio-based, sustainable plastics, recently announced the signing of a two-year contract to supply a total of 2 mln pounds of Cereplast Compostables® resin too two companies in Brazil.

For more details on Cereplast to supply Compostables® resin to Brazilian markets click here

Alcan Packaging acquires Associated Capsules' flexible packaging unit in India

Alcan Global Pharmaceutical Packaging, a division of Alcan Packaging has acquired the Chakan flexible packaging plant from Associated Capsules Private Limited in India. Chakan's integration into the AAlcan Packaging group is expected to be completed early in 2009.

For more details on Alcan Packaging acquires Associated Capsules' flexible packaging unit in India click here

China's leading PTA producer on brink of insolvency; PTA production held up

Zhejiang Hualian Sunshine Petrochemicals, China's leading producer of purified terephthalic acid (PTA) and an affiliate of China Union Holdings, has reportedly brought the PTA production to a standstiill owing to a huge loss it incurred in the trading PTA futures contracts on Zhengzhou Commodity Exchange.

For more details on China's leading PTA producer on brink of insolvency; PTA production held up click here

Petrobras' 250,000 bpd Revap refinery goes offline for maintenance shut down

Petrobras, Brazil's state-owned oil refiner has announced the company's Sao Jose Campos-based Revap refinery has been temporarily shut down for 46 days due to maintenance and upgradation works. The coompany will outlay US$79 mln in maintenance and upgrades of its 250,000 bpd Revap refinery including its distillation unit.

For more details on Petrobras' 250,000 bpd Revap refinery goes offline for maintenance shut down click here

Ticona sets construction of the new polymer works plant underway in Germany

Global engineering polymer group, Ticona has recently set the construction work of its new Hostaform Polyacetal and Celstran plant underway at Höchst Industrial Park in Germany. The new polymer plantss expected to be operational by 2011, will reportedly substitute company's current polymers production in Kelsterbach.

For more details on Ticona sets construction of the new polymer works plant underway in Germany click here

Ethylene prices dip below the thousand dollar mark in Asia

Falling crude and naphtha values and deteriorating downstream demand continues to exert pressures on ethylene prices, keeping market outlook persistently gloomy. FOB Korea ethylene prices dipped beloww US$1000/MT in Asia even as the Chinese return to the markets after a week long break.

For more details on Ethylene prices dip below the thousand dollar mark in Asia click here

PNOC offers Petron stake to Ashmore

State-owned Philippine National Oil Co. has offered the sale of 40% stake in Petron Corp. to London-listed fund manager Ashmore Group for P6.85 per share, totaling to P25.69 bln. Petron said in a stattement that PNOC disclosed its intention to sell its 3.

For more details on PNOC offers Petron stake to Ashmore click here

PVC prices expected to weaken further once Chinese buyers return to the market

A pessimistic outlook prevailed in PVC market of Asia due to a dearth on concluded deals last week as the major buyers in the continent- the Chinese, were on a week long break. Though sellers have lowwered offers to US$970/MT CFR chine, buyers have expressed an interest to buy almost seventy dollars lower.

For more details on PVC prices expected to weaken further once Chinese buyers return to the market click here

HIP Petrohemija to invest US$204 mln in new polypropylene line

Serbia's largest petrochem group - HIP Petrohemija, plans to invest €140 mln (US$204 mln) in construction of a new polypropylene (PP) line. The Serbian major also plans to augment HDPE and LDPE producction.

For more details on HIP Petrohemija to invest US$204 mln in new polypropylene line click here

Weak polypropylene demand in Asia sways propylene values

Lack of ample transactions influenced by weak downstream polypropylene demand and falling feedstock costs, marked the propylene markets of Asia. A quietude prevailed as naphtha prices in the continentt dipped to hover around US$750/MT CNF Japan.

For more details on Weak polypropylene demand in Asia sways propylene values click here

Repsol plans to invest €1 bln in expansion at Sines

Repsol plans to invest €1 bln in an expansion project at its petrochemical complex -Repsol Polimeros at Sines, Portugal. Included in the expansion plan is an increase by 40% in cracker output to 570,0000 tpa, construction of new PE and PP plants with 300,000 tpa capacity each.

For more details on Repsol plans to invest €1 bln in expansion at Sines click here

Gloucester Engineering's 7-layer co-ex film line set up by Accutech Films

Accutech Films, Ohio-based blown film solutions provider has recently installed a new 7-layer co-extrusion line from supplier Gloucester Engineering. The seven layer film line will contribute to Accuttech's hi-tech coextrusion and specialty-film production facility and increases its production line tally to 15.

For more details on Gloucester Engineering's 7-layer co-ex film line set up by Accutech Films click here

BPA-free Tritan™ copolyester to offer design flexibility, product performance for baby care products

Eastman Chemical Company has reportedly announced that its Eastman Tritan™ copolyester will offer extensive design flexibility and increased product performance for the products in the baby care markeet including baby bottles, pacifiers and the like.

For more details on BPA-free Tritan™ copolyester to offer design flexibility, product performance for baby care products click here

New coated film product suited for food packaging unveiled

A new coated film product expected to be launched within 6 months in the global marketplace by Shiner International, Inc., a market leader in China's packaging and anti-counterfeiting plastic films inndustry.

For more details on New coated film product suited for food packaging unveiled click here

Wellman to increase PET packaging resin production and bid adieu to PSF, engineering resins business

Wellman Inc., South Carolina-based manufacturer of polyester staple fiber (PSF), engineering resins and polyethylene terephthalate (PET) packaging resins have reportedly announced to shut doors at itss PSF and PET resin manufacturing operations at its Darlington-based plant and engineering resins operations at its Johnsonville-based plant.

For more details on Wellman to increase PET packaging resin production and bid adieu to PSF, engineering resins business click here

DSM Dyneema to invest in manufacturing of medical grade UHMWPE fiber

DSM Dyneema, the inventor and manufacturer of Dyneema®-world's strongest fiber-has recently announced to create its first line for manufacturing Dyneema Purity® fiber at its Greenville-based facility in North Carolina.

For more details on DSM Dyneema to invest in manufacturing of medical grade UHMWPE fiber click here

Styrochem Finland plans to terminate production at Kokemäki

In a bid to minimize rising losses, leading European expanded polystyrene (EPS) producer Styrochem Finland plans to terminate production at its plant at Kokemäki next April. A 20% reduction is cost iss expected with this termination.

For more details on Styrochem Finland plans to terminate production at Kokemäki click here

Oil falls for fourth day on fears of deeper decline in oil demands

Falling for the fourth consecutive day, oil prices have dropped to US$91 a barrel, on concerns that efforts to restrain the spreading financial crisis will not be successful in avoiding a further declline in oil demand.

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GAIL board approves doubling of Pata capacity

GAIL (India) Ltd. has received approval from its board to double capacity at the Pata petrochemical complex in Uttar Pradesh to 800,000 tpa. A detailed report will be made, based on which the company will work out the investments required for doubling capacity at Pata.

For more details on GAIL board approves doubling of Pata capacity click here

Green polypropylene that is 100% renewable

Brazil-based manufacturer, Braskem, claims to have successfully produced the first samples of polypropylene from 100% renewable feedstock with international certification. The samples were first obtaiined on laboratory scale and then in a pilot plant, where homopolymers and copolymers were produced.

For more details on Green polypropylene that is 100% renewable click here

BASF to shutter Decatur plant

125 employees and 20 contract employees of BASF Corp. plant in Decatur will lose their jobs, when the plant closes within a year.
The closure is being caused because PPG Industries is buying BASF's North American coil and extrusion coatings business.

For more details on BASF to shutter Decatur plant click here

Environmental Warranty and GreenHeart™ Phone launched by Sony Ericsson

Sony Ericsson's environmental warranty, and the concept of Sony Ericsson GreenHeart™ phones, have been launched - initiatives the company is taking to further its commitment to a sustainable future annd continually reducing its impact on the environment.

For more details on Environmental Warranty and GreenHeart™ Phone launched by Sony Ericsson click here

Sharp drop in prices of imported Polyethylene into Europe

As the volume of imports into the continent swells in the face of a dearth of buying in a lacklustre market, Polyethylene (PE) prices into Europe are falling sharply. PE demand in the month of August was the lowest on record- piling up producers inventories despite improved volumes in September.

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Indian petrochem majors face deteriorating domestic and export demand

Falling for the fourth consecutive day, oil prices have dropped to US$91 a barrel. Suspension of buying activities in anticipation of a further price decline has led to India petrochem majors; Reliancce Industries, GAIL Ltd.

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Makers of soya-based BiOH® polyols start European sales office

Cargill's biobased polyurethanes business-the developer of BiOH® line of soya-based polyols-has opened a sales office in France to serve its fast-growing European customer base. The office will managee ordering, customs clearance and delivery logistics for the company's BiOH® line of soya-based polyols used in manufacturing flexible foam for the furniture, bedding and automotive industries.

For more details on Makers of soya-based BiOH® polyols start European sales office click here

Rohm and Haas starts technical laboratory in Singapore

Rohm and Haas Company, the technology and solution provider to specialty materials industry have opened its new Southeast Asia Technical Laboratory in Singapore to support growth the of paints and coaatings applications.

For more details on Rohm and Haas starts technical laboratory in Singapore click here

Newly developed ion exchange resin with iron oxide to remove arsenic from drinking water

Specialty chemicals group LANXESS has developed Lewatit FO36, an innovative hybrid adsorber consisting of a combination of a polymeric anion exchange resin and an iron oxide with a goethite structure that can reliably remove arsenic from drinking water.

For more details on Newly developed ion exchange resin with iron oxide to remove arsenic from drinking water click here

Asian Propylene demand to witness a steep downfall

Rising inventories across Asia, weak demand from downstream products (polypropylene, acrylonitrile and acrylic acid) and the economic slowdown in the US and Europe is expected to dent the market for AAsian propylene and its derivatives.

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Weak downstream demand defers start-up at CPC's No.5 naphtha cracker

Taiwan's state-owned oil refiner, CPC Corporation has further deferred resumption of operations at its Kaohsiung-based No.5 naphtha cracker. The start-up of the 500,000 tpa cracker, earlier scheduled for Sep 29, will further postpone owing to sluggish demand of downstream products like ethylene and propylene.

For more details on Weak downstream demand defers start-up at CPC's No.5 naphtha cracker click here

Braskem's new green PP receives international certification

Brazil's largest petrochemical company, Braskem has furthered its commitment of developing green plastics by producing the first samples of polypropylene (PP) from 100% renewable raw material with intternational certification.

For more details on Braskem's new green PP receives international certification click here

PE and PP prices tumble by 20% this month: markets at standstill

A 20% fall was witnessed in Polypropylene (PP) and polyethylene (PE) prices across the Middle East and South Asia - this is quickest drop seen in a single month in almost ten years. The recent developpments make the future direction of polymer prices very unclear, with volatile feedstock and crude values adding to the unstable market conditions.

For more details on PE and PP prices tumble by 20% this month: markets at standstill click here

PolyOne Corp to shutter many North American plants

Staring from the early part of next year, PolyOne Corp plans to shutter several of its plastics compounding plants across North America. Planned to be shuttered are plants in Plaquemine-Louisiana, Susssex-Wisconsin, Macedonia-Ohio and Building 452 of the corporate vinyls complex in Avon Lake.

For more details on PolyOne Corp to shutter many North American plants click here

PolyOne Corp to shutter many North American plants

Staring from the early part of next year, PolyOne Corp plans to shutter several of its plastics compounding plants across North America. Planned to be shuttered are plants in Plaquemine-Louisiana, Susssex-Wisconsin, Macedonia-Ohio and Building 452 of the corporate vinyls complex in Avon Lake.

For more details on PolyOne Corp to shutter many North American plants click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of September 29, 2008

CRUDE OIL
Crude oil prices jumped up to US$108 per barrel in New York for November delivery, and to US$104.6 in London in the week of September 29, 2008. This rise was triggered in anticipation that a US$700 bln financial bailout plan will be adopted by the Congress.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of September 29, 2008 click here

On-spec PE production at Arya Sasol to take off by Oct end

Arya Sasol-a JV between Iran's National Petrochemical Company (NPC) and South African chemicals giant Sasol-are reportedly expected to set the open-spec polyethylene production underway at its HDPE/MDDPE swing plant in Assaluyeh, Iran by October end while the LDPE plant is slated to start a month later.

For more details on On-spec PE production at Arya Sasol to take off by Oct end click here

INEOS NOVA to curtail Europe PS production by 30% & increase premium for HIPS

Owing to record low margins of Polystyrene in September and a sluggish demand, INEOS NOVA-a JV of INEOS and NOVA Chemicals, has recently announced curtailing of its European Production by 30% in Octobber.

For more details on INEOS NOVA to curtail Europe PS production by 30% & increase premium for HIPS click here

Abu Dhabi Oil Refining Co. selects UOP to upgrade Ruwais refinery

UOP LLC, a fully owned subsidiary of Honeywell International and headquartered in Illinois has been opted by Abu Dhabi Oil Refining Co. for supplying technology and engineering services for upgradatioon at 120,000 bpd Ruwais refinery in the UAE.

For more details on Abu Dhabi Oil Refining Co. selects UOP to upgrade Ruwais refinery click here

Pioneering PP solutions for automotive industry

Borealis, a leading provider of value creating plastics solutions, is all set to exhibit pioneering Polypropylene (PP) solutions for automotive industry at IZB, the International Suppliers Fair (Octobber 29 - 31) in Wolfsburg, Germany.

For more details on Pioneering PP solutions for automotive industry click here

Lightweight, high performance thermoplastic composites for automotives

SABIC Innovative Plastics and SABIC PP Automotive are introducing an expansive, world-class portfolio of lightweight, high-performance thermoplastic composites for automotive applications. These reinfforced materials range from LNP* Thermocomp* and LNP Verton* specialty compounds for demanding interior and underhood applications, to the global introduction of SABIC® STAMAX resins for door modules and instrument panel carriers, to the newly introduced AZDEL IXIS® 157 composite for vehicle hoods and roofs.

For more details on Lightweight, high performance thermoplastic composites for automotives click here

Ticona plans 7000 mtpa Vectra LCP facility in Nanjing, China

Ticona, the engineering polymers business of Celanese Corporation, had recently announced its plans to build a new 7000 mtpa Vectra(R) liquid crystal polymer (LCP) production facility co-located at thhe Celanese integrated chemical complex in Nanjing, China.

For more details on Ticona plans 7000 mtpa Vectra LCP facility in Nanjing, China click here

Huntsman emerges victorious in court battle with Hexion

It has been ruled that world´s number one epoxy adhesive maker - Huntsman Corp. can force rival Hexion Specialty Chemicals Inc. to honor a US$6.5 bln buyout agreement.
The judge concluded that Hexioon, a unit of buyout firm Apollo Management LP, does not have sufficient grounds to cancel its offer for Salt Lake City-based Huntsman because of a slump in the chemical markets.

For more details on Huntsman emerges victorious in court battle with Hexion click here

Inteva, A. Schulman ink licensing agreement to produce custom TPE blend

Inteva's recently developed thermoplastic elastomer (TPE) blend, will provide automakers with a high-quality, durable and environmentally friendly alternative material. Inteva Products, LLC and A. Schhulman, Inc.

For more details on Inteva, A. Schulman ink licensing agreement to produce custom TPE blend click here

Indian chemical sector, particularly polymers to be exempt from WTO 'sectorals'

The government of India is mulling a proposal to ensure that certain sectors in the chemical sector, particularly polymers, are exempted from the World Trade Organisation's (WTO) market-opening provissions called 'sectorals'.

For more details on Indian chemical sector, particularly polymers to be exempt from WTO 'sectorals' click here

BP to renounce trading in most petrochemicals in Asia

Terming the trading of petrochemicals as incompatible with its plans, BP has arrived at a decision to discontinue trading in most petrochemicals. BP's petrochemical trading team will be acquired by Chhina Aviation Oil (CAO).

For more details on BP to renounce trading in most petrochemicals in Asia click here

Construction of Vietnam's first petrochemical complex set underway

The would-be Vietnam's largest petrochemical complex has reportedly set construction at the Long Son Oil and Gas Industrial Zone in southern Ba Ria-Vung Tau province underway. The nation's first petroochemical complex is a 4-way JV between Vietnam National Oil and Gas Group (PetroVietnam), Vietnam National Chemical Corporation (Vinachem), Vina SCG Chemicals under the Thailand Cement Group, and Thai Plastic and Chemicals.

For more details on Construction of Vietnam's first petrochemical complex set underway click here

India's RIL sells 80,000 tons of Oct lifting naphtha at US$5/ton discount

After selling 80,000 tons of October lifting naphtha to BP at a higher single digit premium, India's Reliance Industries Ltd. (RIL) sold and additional 80,000 tons to Koch for October lifting from Sikkka at a US$5/ton discount relative to Middle Eastern quotes on FOB basis.

For more details on India's RIL sells 80,000 tons of Oct lifting naphtha at US$5/ton discount click here

Leading European automaker specifies Exxtral performance polyolefins for interiors

PSA Peugeot Citroën Group, a world-class European automobile manufacturer has specified ExxonMobil Chemical's Exxtral™ performance polyolefins for four interior components of its new Citroën Berlingo and Peugeot Partner.

For more details on Leading European automaker specifies Exxtral performance polyolefins for interiors click here

New nanoscopic materials to mitigate growth of tin whiskers from lead-free solders

The pioneer of POSS® (Polyhedral Oligomeric Silsesquioxanes) - Hybrid Plastics under sponsorship from The National Science Foundation, Electronics Division, has unveiled a first landmark conformal coaating, POSS® Short-Stop which is capable of suppressing tin whiskers from lead free solders and interconnects.

For more details on New nanoscopic materials to mitigate growth of tin whiskers from lead-free solders click here

New high speed TM Xpress series with an IML application

Wittmann Battenfeld will unveil its new, innovative and high speed TM Xpress series in combination with an Inmold Labeling System at Equiplast which is to be held from Oct 20 - 24 in Barcelona, Spain..

For more details on New high speed TM Xpress series with an IML application click here

Oil prices plunge 10% as US House of Representatives rejects the US$700 bln bailout of the financial sector

Markets are in a state of frenzy as crude oil have sunk by 10% as the US House of Representatives has narrowly rejected a US$700 bln government bailout of the financial sector. New York's main contracct, light sweet crude for November delivery, fell by over 10 dollars to close at US$96.

For more details on Oil prices plunge 10% as US House of Representatives rejects the US$700 bln bailout of the financial sector click here

Korean Polymirae selects LyondellBasell's Metocene PP technology

PolyMirae (PMC), a joint venture between Daelim and LyondellBasell, has selected LyondellBasell's Metocene PP technology for one of its Spheripol lines in Yeosu, Korea. The Metocene PP technology liceense to PMC covers a full range of homopolymers, random copolymers and heterophasic copolymers with significantly improved physical properties.

For more details on Korean Polymirae selects LyondellBasell's Metocene PP technology click here

Biobased polymers and plastics from ethylene derived from hydrous sugarcane-based ethanol

Florida-based Industrial Biotechnology Corp., plans to manufacture biobased polymers and plastics from ethylene derived from hydrous sugarcane-based ethanol. The company plans to use preexisting chemiical infrastructure to replace petroleum-based ethylene with hydrous-ethanol-based ethylene.

For more details on Biobased polymers and plastics from ethylene derived from hydrous sugarcane-based ethanol click here