Mid-Eastern producer hikes March PP, PE offers in Egypt

A major Middle Eastern producer has hiked March PP offers to Egypt by US$20-30/ton, so new PP raffia and injection offers stand at US$1340-1350/ton and PP film and fibre offers are at US$1370/ton on CCIF Alexandria, 90 days deferred payment basis, as per Chemorbis.

For more details on Mid-Eastern producer hikes March PP, PE offers in Egypt click here

Caution reigns in Asian spot PE market : high end offers fading

In Asia, caution has reigned in the spot PE market in the first trading week post-Chinese New Year holidays, as players are reluctant to stake out firm positions as the true status of demand in China remains unclear.

For more details on Caution reigns in Asian spot PE market : high end offers fading click here

KBR awarded contract by Eleme to provide technology licensing and engineering services

In a bid to enhance the operating performance and reliability of the existing 15 year-old furnaces, improve run lengths and improve overall performance and reliability, KBR Technology has been awardedd a contract by Indorama-owned Eleme Petrochemicals Company Ltd (EPCL) to provide technology licensing and engineering services related to the revamp of company's ethylene plant.

For more details on KBR awarded contract by Eleme to provide technology licensing and engineering services click here

March polymer offers to GCC rise by US$30-60/ton

Tight supply and high monomer prices have pushed up March offers for polymer to the Gulf Cooperation Council (GCC) by US$30-60/ton (upto 4%) as per ICIS. This follows a US$130-250/ton hike in Februaryy.

For more details on March polymer offers to GCC rise by US$30-60/ton click here

HPCL revives plans to build US$4.3 bln refinery and petrochemicals plant in Andhra Pradesh

In a bid to benefit from rising fuel demand in Asia, Hindustan Petroleum Corp. has revived plans to build a Rs 200 bln (US$4.3 bln) refinery and petrochemicals plant in Andhra Pradesh, as per Bloomberrg.

For more details on HPCL revives plans to build US$4.3 bln refinery and petrochemicals plant in Andhra Pradesh click here

IOC seeks 70% more naphtha than purchased for 12 month period ending March 2010

Indian Oil Corp (IOC) is seeking 370,000 tons of naphtha by tender for April 2010-March 2011 delivery to Goa and Mangalore ports- about 70% more than it’s bought for the 12 month period ending March 2010 as per Reuters.

For more details on IOC seeks 70% more naphtha than purchased for 12 month period ending March 2010 click here

Court allows resumption of 1 PTT and 6 SCG projects at Map Ta Phut

The Central Administrative Court has allowed 7 suspended projects in the Map Ta Phut industrial zone to resume construction – 6 of Siam Cement Group, one of PTT. These seven projects may only completee construction and begin testing.

For more details on Court allows resumption of 1 PTT and 6 SCG projects at Map Ta Phut click here

Weakening dollar, bullish elements in weekly oil inventories report prop up oil prices

New York's main futures contract, light sweet crude for April delivery, rose to US$80 a barrel, almost wiping out Tuesday's loss after five consecutive sessions of gains. Brent North Sea crude for Appril delivery rose to US$78 in London.

For more details on Weakening dollar, bullish elements in weekly oil inventories report prop up oil prices click here

Biodegradable polymers for tissue regeneration and drug delivery

A new type of biodegradable polymer made from non-food plant material has applications as diverse as food packaging to tissue regeneration, medical stitches and drug delivery. The degradable polymer iis made from plant sugars known as lignocellulosic biomass, which come from non-food crops such as fast-growing trees and grasses, or renewable biomass from agricultural or food waste.

For more details on Biodegradable polymers for tissue regeneration and drug delivery click here

Polymer stabilized nanoparticles to reduce exposure to silver nanoparticles

New polymer-stabilised silver nanoparticles have been developed by chemists at the University of Helsinki. The result is significant because the antimicrobial characteristics of silver are used in texxtiles, floor coatings and paints though the impact on health of silver nanoparticles are not entirely known.

For more details on Polymer stabilized nanoparticles to reduce exposure to silver nanoparticles click here

Chinaplas 2010 promotes sustainable development of green technology

Energy saving and environmental protection are the future trends in the plastics and rubber industries with the uprising global awareness of environment protection. There are increasing demands for innnovative energy-saving technologies, renewable and recyclable materials for production enhancement and products’ competitiveness.

For more details on Chinaplas 2010 promotes sustainable development of green technology click here

Vinyl "microbeads provide auto manufacturers with brilliant molded-in color and appealing tactile properties

Vinyl "microbeads" provide manufacturers of automotive instrument panels, airbag covers, and interior trim with brilliant molded-in color and appealing tactile properties while being simpler to processs and less energy-intensive than powder blends and plastisols, according to Teknor Apex.

For more details on Vinyl "microbeads provide auto manufacturers with brilliant molded-in color and appealing tactile properties click here

High temperature bioplastics with significant benefits over existing alternatives

A new range of high temperature bioplastics that will provide significant benefits over existing alternatives within the market have been introduced by Biome Bioplastics Ltd. With a softening point off greater than 90°C in both dry and wet conditions, BiomeHT 90 exceeds the performance of alternative bioplastic products by 20-30°C; a breakthrough for high temperature applications.

For more details on High temperature bioplastics with significant benefits over existing alternatives click here

Dow Europe announces price increase for all grades of polyethylene

With effect from March 1, 2010, Dow Europe GmbH is announcing a price increase for polyethylene (PE) resins across the European, Middle Eastern, African and Indian regions, in an effort to recover itts margins.

For more details on Dow Europe announces price increase for all grades of polyethylene click here

LLDPE c4 and HDPE film March sales concluded by Taiwanese producer with discounts

A major Taiwanese producer, offering early March shipment LLDPE c4 and HDPE film offers at the same levels as the holiday at US$1500/ton and US$1430/ton, respectively on CFR China main port, subject tto 6.

For more details on LLDPE c4 and HDPE film March sales concluded by Taiwanese producer with discounts click here

Homo-PP offers to Asia steady at pre-holiday offer levels from the Middle East

Several Middle Eastern producers have announced their initial homo-PP offers to Asia with rollovers from their pre-holiday offer levels, as per Chemorbis. Sellers attributed their decision to leave thheir offers unchanged to the lack of trading activity in the market in the first few days after the holidays while waiting for Chinese converters to return.

For more details on Homo-PP offers to Asia steady at pre-holiday offer levels from the Middle East click here

Asian PVC rises on anticipated improvement in demand, lacks support on weak Mediterranean demand

Start of the high season for many PVC applications in China is expected to lead to demand improvement. Offers to China from a producer in Taiwan for March PVC have been raised by US$10-20/ton over Febbruary deal conclusion at US$1040/ton CFR China, as per Chemorbis.

For more details on Asian PVC rises on anticipated improvement in demand, lacks support on weak Mediterranean demand click here

Tight propylene supply propels March PP prices in Europe

The March monthly propylene contract price settled on 23 February at €910/ton (US$1247/ton), rising by €35/ton from the February contract price, as per ICIS. Polypropylene (PP) buyers in Europe will bbe under heavy pressure to accept higher prices in March on supply constraints mainly due to propylene supply constraints that have been aggravated by the recent strike at Total in France.

For more details on Tight propylene supply propels March PP prices in Europe click here

Nanotech catalyst could reduce use of expensive and toxic heavy metals

A new nanotech catalyst offers industry an opportunity to reduce the use of expensive and toxic heavy metals. Catalysts are substances used to facilitate and drive chemical reactions. Although chemistts have long been aware of the ecological and economic impact of traditional chemical catalysts and do attempt to reuse their materials, it is generally difficult to separate the catalyzing chemicals from the finished product.

For more details on Nanotech catalyst could reduce use of expensive and toxic heavy metals click here

Supreme Court moved against RIL for alleged customs duty evasion in 2004-05

The excise and customs department has moved the Supreme Court against Reliance Industries Ltd (RIL) for alleged customs duty evasion to the tune of Rs 9.64 crore in 2004-05. A bench tagged the petitioon with another similar one where the revenue department had demanded customs duty of over Rs 11.

For more details on Supreme Court moved against RIL for alleged customs duty evasion in 2004-05 click here

Oman's methanol output to double in April as Salalah Methanol commences operations

Salalah Methanol is preparing to launch commercial operations in April this year, a move that is set to double Oman's methanol output and reinforce the country's credentials as an emerging petrochemiccals heavyweight.

For more details on Oman's methanol output to double in April as Salalah Methanol commences operations click here

Ethylene prices in USA continue to rise during February

US ethylene prices continued to rise during February. March Nymex cleared ethylene settling and expiring at US$0.54/lb. The contract, which began trading in July 2009, settled for February last month at US$0.

For more details on Ethylene prices in USA continue to rise during February click here

Formosa buys 200,000 tons naphtha for H1-April after skipping March spot purchases

Taiwan's Formosa Petrochemical Corp has bought at least 200,000 tons of naphtha for H1-April arrival by tender from four sellers, with premiums starting from US$3/ton to Japan spot quotes on C&F basiss.

For more details on Formosa buys 200,000 tons naphtha for H1-April after skipping March spot purchases click here

Market outlook bullish as China returns to the markets

Polyolefin traders in China have started making enquiries after the Lunar New Year holidays. Though end-users are not yet buying, there has been a recovery in exports and order booking is looking up, as per ICIS.

For more details on Market outlook bullish as China returns to the markets click here

Crude oil dips after 5 day uptrend

Crude oil nipped a five-day uptrend as reports of disappointing US consumer confidence data deflated economic optimism, leading investors to move out of riskier assets. In fresh reports, house price iindex and consumer confidence came below market estimates and were negative for the economy and oil prices.

For more details on Crude oil dips after 5 day uptrend click here

Upcycling PET resin to PBT, making ETPs in a sustainable way

Polyethylene terephthalate (PET) resin is sold as virgin material for soft drink bottles and other consumer products. After their use, most PET bottles are discarded as waste. PET scrap is a good sourrce of terephthalic acid (TPA), a fossil-based raw material used in the manufacture of many polyesters, such as polybutylene terephthalate (PBT).

For more details on Upcycling PET resin to PBT, making ETPs in a sustainable way click here

Offers for PE film from Taiwan steady post-holiday in China

A major Taiwanese producer has offered LLDPE c4 and HDPE film prices at the same levels compared to the pre-holiday period - US$1500/ton and US$1430/ton respectively, CFR China main port, subject to 66.

For more details on Offers for PE film from Taiwan steady post-holiday in China click here

Optimistic outlook for March by PP sellers in Italy

Europe’s propylene market that has been plagued with ongoing plant outages will see added supply constraints due to the upcoming turnaround season at steam crackers, new production problems at crackerrs, and rumors that Total has declared a force majeure on the propylene supplies from six refineries in France due to a workers strike.

For more details on Optimistic outlook for March by PP sellers in Italy click here

Naphtha prices rise to month highs

Naphtha prices in Asia rose to almost month highs, while cracks rose to a two-week high, held up by Northeast Asian demand and concerns over supply disruptions in France.

Formosa, Asia's top spot naphtha buyer, is in talks to buy April parcels after having skipped spot purchases for March arrivals.

For more details on Naphtha prices rise to month highs click here

Braskem to invest US$2.5 bln in the Mexican petrochemical industry

Braskem SA plans to invest US$2.5 bln in the Mexican petrochemical industry. The Brazilian major plans to collaborate with Mexican petrochemical firm Idesa for an ethylene project at an initial investtment of US$2.

For more details on Braskem to invest US$2.5 bln in the Mexican petrochemical industry click here

Over one third of France’s propylene capacity impacted by Total’s refinery strike

An already tight supply and demand balance in Europe ahs been aggravated by the refinery strikes at Frances’ Total that have impacted around 36% of France’s total propylene capacity, according to ICISS.

For more details on Over one third of France’s propylene capacity impacted by Total’s refinery strike click here

Kureha Corp.'s US$100 mln PGA plant at Belle to be finished in July

Kureha Corp. expects its US$100 mln PGA plant under construction at Belle to be finished in July, with production expected to start in October. Kureha PGA, a subsidiary of Tokyo-based Kureha, is buildding the plant that will produce polyglycolic acid, a high-performance polymer resin, under the brand name Kuredux PGA.

For more details on Kureha Corp.'s US$100 mln PGA plant at Belle to be finished in July click here

Robust gross integrated margin at PTTAR with rising demand for oil and aromatics products

Demand for refined oil is forecast to remain high in Asia, particularly in China and India where demand is expected to grow by 5-5.3% this year. Demand for plastics and textile products will spur signnificant growth in aromatics.

For more details on Robust gross integrated margin at PTTAR with rising demand for oil and aromatics products click here

Petrochemical output to take time to recover to pre-recession levels in UK

Petrochemicals had passed a nadir in mid-2009, but BMI’s latest report forecasts that it will take some years for output to recover to pre-recession levels and during that time some plants will be perrmanently shut with potentially devastating consequences for entire production chains.

For more details on Petrochemical output to take time to recover to pre-recession levels in UK click here

Fluor conducting feasibility study for PetroChina Consortium

Fluor Corporation is currently conducting a feasibility study for a joint venture led by PetroChina Company Limited. The proposed 440,000 bpd refinery and 1.2 mln tpa petrochemicals complex will be loocated in Taizhou, Zhejiang Province.

For more details on Fluor conducting feasibility study for PetroChina Consortium click here

Total Petrochemicals hopes to acquire Polimeri’s PS facility in Feluy, Belgium

France’s Total Petrochemicals hopes to acquire a polystyrene facility in Feluy, Belgium, after current owner Polimeri announced plans to close the plant, as per European Plastics News. Total’s decisioon to acquire the plant has been guided by concern about the “social impact of Polimeri’s decision.

For more details on Total Petrochemicals hopes to acquire Polimeri’s PS facility in Feluy, Belgium click here

Petron continues downstream expansion despite difficult business climate

Despite the difficult business climate, the Philippines’ oil refiner Petron continues its downstream expansion, according to a report by BMI. Petron is optimistic about the industry’s profitability annd intends to boost its petrochemicals production, according to reports in June 2009.

For more details on Petron continues downstream expansion despite difficult business climate click here

Prospects for profile industry in North America in 2010

AMI is pleased to announce the program for the 9th AMI international conference on construction Profiles 2010, to be held June 2-3, 2010 Philadelphia. The conference brings fresh reports on the state of the markets in North America, with John Swanson of Window & Door Magazine covering the re-emergence of the vinyl profiles industry and Peter Mooney outlining the details of his market study on the US profile manufacturing industry.

For more details on Prospects for profile industry in North America in 2010 click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended February 22, 2010

CRUDE OIL
Crude oil prices in Asia rose past US$80 for the first time in more than a month, in the week of February 22, 2010. Oil prices have benefited frrom positive economic data and from a tightening global market balance.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended February 22, 2010 click here

Domestic producers raise PP, PE prices in China

Post-holiday, two domestic producers in China have elected to raise their PP prices for raffia, injection and block copolymer injection grades, pointing to the bullish crude oil prices along with the expectations of a stronger market sentiment, as per Chemorbis.

For more details on Domestic producers raise PP, PE prices in China click here

Direction of spot PP and PE prices in Asia unclear, post-holiday trading

The direction of spot PP and PE prices in Asia remains unclear in the first days of post-holiday trading as sellers differ on their confidence over medium term demand outlook, as per Chemorbis. Polymeer demand in Asia, that faded ahead of the Lunar New Year holidays, remains lackluster as the market awaits return of most buyers post-holidays.

For more details on Direction of spot PP and PE prices in Asia unclear, post-holiday trading click here

Taiwan to gain from China’s ruling against PTA makers in South Korea and Thailand

With effect from February 3, 2010, China`s Commerce Department has imposed punishing tariffs of 2.3-20% on the imported PTA from South Korea and Thailand.
China’s ruling to have South Korean and Thaai makers of PTA (purified terephthalic acid) hand in high-volume guarantee funds when selling the products to China is expected to benefit Taiwanese manufacturers - Formosa Chemical & Fibre Corporation (FCFC), China American Petrochemical Co.

For more details on Taiwan to gain from China’s ruling against PTA makers in South Korea and Thailand click here

Naphtha cracks rise, naphtha prices in Asia at month highs

Supported by demand from South Korea and an impending strike in France Asian naphtha prices have risen to a month high as naphtha cracks rose to more than a week high.
Honam Petrochemicals in South Korea bought three cargoes of naphtha totalling around 75,000 tons, following last week’s purchases by LG Chem and Samsung Total.

For more details on Naphtha cracks rise, naphtha prices in Asia at month highs click here

Oil prices rise to a six week high past US$80

The price of oil has risen past US$80, to a six-week high as a rescue plan for debt-laden Greece when revealed, lifted the euro and helped push the US dollar lower, and by figures showing an increase in oil refining in China, amid the continuing strike by Total refinery workers in France.

For more details on Oil prices rise to a six week high past US$80 click here

A new additive manufacturing process for mixing tough metals with ceramic

A new additive manufacturing process for mixing tough metals with ceramic materials and depositing, layer by layer, the mixed materials in the form of pastes could lead to stronger, heat-resistant, thhree-dimensional components for future space exploration, as per a research at Missouri University of Science and Technology.

For more details on A new additive manufacturing process for mixing tough metals with ceramic click here

A clarifying agent makes PP injection moulded containers clearer

A clarifying agent for polypropylene (PP) from Milliken Chemical makes injection molded jars clearer than standard PP. Like other clarifying agents, Millad NX8000 is normally compounded into polypropyylene by the polymer maker.

For more details on A clarifying agent makes PP injection moulded containers clearer click here

China could reduce volumes of PP imports from USA due to increased costs

China could significantly reduce volume of US polypropylene (PP) imports as US made PP has become too expensive due to high feedstock costs, as per ICIS. China imported around 493,381 tons of homopolyymer grade PP in 2009, about four times more than the 117,673 tons imported in 2008 according to China Customs data.

For more details on China could reduce volumes of PP imports from USA due to increased costs click here

PetroChina plans capacity increase at Dushanzi refinery

In 2010, PetroChina, a subsidiary of China National Petroleum Corp plans to increase output of the Dushanzi refinery in Xinjiang Uygur Autonomous Region that commenced operations in September 2009. Thhe company plans to raise refining capacity by 50%, while ethylene output is expected to rise 114% from levels seen in 2009.

For more details on PetroChina plans capacity increase at Dushanzi refinery click here

PVC from West Europe dips below US$1100 in Turkey

Turkish markets have seen more European origins offered into the market in February, as compared to January, including Central European offers which have been scarce for several months, as per Chemorbbis.

For more details on PVC from West Europe dips below US$1100 in Turkey click here

Further PP price hikes speculated in March in Italy

PP demand has been quite low in Italy despite price hikes of €70-100/ton as per Chemorbis. Deals have been concluded for limited volumes as buyers continue to buy at hand to mouth levels. Converters hhave mostly resisted offers above €1100/ton for homo PP as they could find relatively lower offers in the range of €1030-1080/ton FD North Italy, 60/90 days deferred payment.

For more details on Further PP price hikes speculated in March in Italy click here

European spot styrene prices show a volatile trend

Spot styrene prices in Europe recorded significant increases at the beginning of February as compared to early January level, as per Chemorbis. They mostly followed a volatile trend in February, albeiit they still remain firm.

For more details on European spot styrene prices show a volatile trend click here

Japan's January naphtha imports for petrochemicals dip to 2.8%, to continue falling

Japan's naphtha imports for the petrochemical sector fell by 2.8% in January vs levels of December. Naphtha imports for ethylene production totalled 2,126,318 kilolitres, or 1,463,834 tons, as compareed with 2,186,689 kl in December.

For more details on Japan's January naphtha imports for petrochemicals dip to 2.8%, to continue falling click here

Kuwait PIC plans third olefins plant at outlay of US$5 bln

Petrochemical Industries Co. (PIC) plans to build a third olefins plant at an outlay of US$5 bln. The facility is being planned with an estimated production capacity of over 1 mln tpa of ethylene and should be operational in 2015.

For more details on Kuwait PIC plans third olefins plant at outlay of US$5 bln click here

Pak, EC to hold consultations on anti-dumping investigations on PET imports

Pakistan and the European Commission (EC) will hold consultations on anti-dumping investigations on imports of Polyethylene Terephthalate (PET) from Pakistan on February 23-24, 2010 in Brussels. As peer estimates, EU consumes around US$200 mln worth of PET from Pakistan, which is supplied by a company based only in Pakistan.

For more details on Pak, EC to hold consultations on anti-dumping investigations on PET imports click here

Asia naphtha prices and cracks continue to fall as demand slows down

Naphtha prices in Asia fell along with naphtha cracks that dipped for the fifth consecutive session to their lowest in about one-and-a-half week. Weaker
demand from Northeast Asia and an unusual offeer from Kuwait are the responsible factors.

For more details on Asia naphtha prices and cracks continue to fall as demand slows down click here

High polyolefin inventories in China amid growing credit fears

Polyolefin inventories in China are high with an increasing risk that tighter lending conditions will impact consumption after the Chinese Lunar New Year holiday, as per ICIS. Substantial imports fromm early November bookings through to January arrivals have ended up as stockpiles.

For more details on High polyolefin inventories in China amid growing credit fears click here

Plastics packaging sales in Germany down by 10% in 2009

Germany’s plastics packaging industry saw sales decline by around 10% in 2009 to €12.5 bln, according to a report by industry association Industrievereinigung Kunststoffverpackungen (IK), as reported in European plastic news.

For more details on Plastics packaging sales in Germany down by 10% in 2009 click here

Subsidiary of Lotte Group acquires UK based PTA and PET plant

A subsidiary of South Korean Lotte Group – K P Chemical, has completed acquisition of UK based PTA and PET plant. Lotte Chemical UK Ltd., the unit of KP Chemical, inked an agreement to buy the Arteriuus plant in Wilton for 26 bln won (US$22.

For more details on Subsidiary of Lotte Group acquires UK based PTA and PET plant click here

Crude-oil futures cross US$80 for the first time in over a month

Monday morning saw crude oil prices in Asia rise past US$80 for the first time in more than a month, benefiting from positive economic data and from a tightening global market balance. Traders are uppbeat about the prospects for oil demand from USA and China- the world's two biggest energy consumers.

For more details on Crude-oil futures cross US$80 for the first time in over a month click here

Net profit at PTT rises 15% in 2009 on strong performance of oil refining and petrochemical businesses

Strong performance of its oil refining and petrochemical businesses has propped up PTT Plc’s 2009 net profit by 15%. PTT earned 59.5 bln baht as compared to last year’s 51.7 bln bahT. However, sales aand services revenue declined 20.

For more details on Net profit at PTT rises 15% in 2009 on strong performance of oil refining and petrochemical businesses click here

Reliance raises bid for LyondellBasell by US$1.5 billion

Reliance Industries has raised its bid for LyondellBasell to around US$15 bln from an earlier offer of US$13.5 bln, on February 19, the deadline for RIL to submit its revised proposal. In a bid to makke the revised offer more lucrative, RIL is reported to have also included stock and cash options for shareholders and creditors in its offer.

For more details on Reliance raises bid for LyondellBasell by US$1.5 billion click here

Update on India’s PP anti-dumping case

India has initiated an investigation on PP imports originating from South Korea, Taiwan and the US. According to a letter obtained by ChemOrbis that was sent to South Korea’s Embassy, India’s Departmeent of Commerce had received “a fully documented application from the Indian Industry manufacturing polypropylene” that alleges that PP has been dumped from South Korea and has caused “injury” to the Indian Domestic Industry.

For more details on Update on India’s PP anti-dumping case click here

March 2010: a month of heavy cracker maintenance and several new capacity start ups

The month of March will kick off an unusually heavy season of cracker maintenance in Asia, expected to keep ethylene and propylene supplies tight in the region, as per Chemorbis. Simultaneously, some previously started up new capacities have picked up pace amid new start ups will also be seen.

For more details on March 2010: a month of heavy cracker maintenance and several new capacity start ups click here

Turkish petrochem industry sustains high operating rates despite recession

The Turkish petrochemicals industry has managed to sustain high operating rates despite the recession, due in large part to the restructuring of and investment in the country’s largest producer Petkimm following its privatisation in 2008, according to Companies and Markets.

For more details on Turkish petrochem industry sustains high operating rates despite recession click here

Antioxidant masterbatch protects reprocessed polyolefins from degradation during processing

Ampacet has introduced a high-efficiency antioxidant masterbatch that protects reprocessed or recycled polyolefins from degradation during processing, allowing blown and cast film processors to use moore recycled content without detrimental effects on aesthetic or physical properties.

For more details on Antioxidant masterbatch protects reprocessed polyolefins from degradation during processing click here

Growth in Kuwait's petrochemicals output dependent on Chinese consumption

Growth in Kuwait’s petrochemicals output will depend on Chinese consumption, but the country will lose its ability to take full advantage of its plentiful feedstock supplies while nationalist and Islaamist politicians have the power to scupper foreign investment, according to Companies and Markets.

For more details on Growth in Kuwait's petrochemicals output dependent on Chinese consumption click here

Consolidations in Israel’s petrochemicals industry to lead to stability and growth

The Israeli petrochemicals industry has survived recession well and is set for a period of stability and growth, bolstered by a process of consolidation that brings together refining with downstream iindustries, according to Companies and Markets.

For more details on Consolidations in Israel’s petrochemicals industry to lead to stability and growth click here

US demand for independently compounded resins to grow 2.9% pa in 2013

US demand for independently compounded resins is forecast to grow 2.9% pa to 7.6 billion lbs in 2013 as per Reportlinker. Total value, including additives, fillers and other production costs, will reaach US$14.

For more details on US demand for independently compounded resins to grow 2.9% pa in 2013 click here

Crude price fluctuations independent of demand-supply fundamentals

Since the beginning of the month, crude oil prices have been fluctuating in the range of US$71-77/barrel. A look at the daily price fluctuations mostly shows that developments in the global financial system are impacting crude oil prices rather than real supply-demand dynamics, as per Chemorbis.

For more details on Crude price fluctuations independent of demand-supply fundamentals click here

New sugar-based polymer makes composting of disposable plastics possible at home

Food packaging and other disposable plastic items could soon be composted at home along with organic waste thanks to a new sugar-based polymer, being developed at Imperial College London by a team of Engineering and Physical Sciences Research Council scientists led by Dr Charlotte Williams.

For more details on New sugar-based polymer makes composting of disposable plastics possible at home click here

Composite metal foam could make biomedical implants more compatible

A "metal foam" that has a similar elasticity to bone could mean a new generation of biomedical implants that would avoid bone rejection that often results from more rigid implant materials, such as tiitanium.

For more details on Composite metal foam could make biomedical implants more compatible click here

Companies affected by ruling on Map Ta Phut industrial estate

A court ruling has halted 64 projects at Map Ta Phut industrial estate in Thailand over environmental concerns. Map Ta Phut is the world's eighth-biggest petrochemicals hub, and this ruling that has sshaken investors' confidence and raised questions about legal certainty and government effectiveness in Thailand.

For more details on Companies affected by ruling on Map Ta Phut industrial estate click here

Deep cuts in demand due to naphtha cracker shutdowns in Japan to squeeze margins

An unprecedented number of maintenance shutdowns of naphtha crackers in Japan in 2010 will result in deep cuts in demand in Northeast Asia at a time of rising supply, squeezing margins. Lack of producction at crackers will result in loss of demand for atleast 2.

For more details on Deep cuts in demand due to naphtha cracker shutdowns in Japan to squeeze margins click here

Naphtha rises in Asia, naphtha cracks at 3 month low

Naphtha prices in Asia rose in line with rising crude oil prices, mounting to two week highs. Lackluster demand however, has depressed naphtha cracks to three-month lows.
Demand will continue to be bearish due to the upcoming maintenance, resulting in a loss of at least 2.

For more details on Naphtha rises in Asia, naphtha cracks at 3 month low click here

Dollar weakens, oil spikes past US$77

Crude oil for March delivery rose by over two dollars past US$77 a barrel as the dollar weakened against the euro, pound and yen. The euro improved on restored confidence as Europe urged Greece to takke measures to tackle its debt crisis and finance ministers met in Brussels to discuss the problem.

For more details on Dollar weakens, oil spikes past US$77 click here

PP fibre grade offered at elevated levels from the Middle East for March

A converter in Turkey reported receiving a higher offer from a Middle East major for March shipment cargoes for PP fibre grade, at US$1460/ton CPT Turkey, subject to 3% duty, cash, up US$20/ton from rrecent offers from the same producer, as per Chemorbis.

For more details on PP fibre grade offered at elevated levels from the Middle East for March click here

Further hike in W.European PVC on extra requests in Italy

After having been sold out for February last week, an official distributor in Italy of a West European producer has reported extra February allocations from its supplier, as per Chemorbis As they conttinue to receive more requests, they have decided to ask for further increases for the remainder of the month.

For more details on Further hike in W.European PVC on extra requests in Italy click here

PP trade slows in Turkey, Italy and Egypt on reluctant buying sentiments

PP buyers in Turkey, Italy and Egypt have slowed down buying, expressing their reluctance to purchase high tonnages these days, preferring to meet their urgent needs on hand to mouth basis. As per Chhemorbis, PP markets in these countries have slowed after being rather steady for the last couple of weeks after starting the month of February with increases.

For more details on PP trade slows in Turkey, Italy and Egypt on reluctant buying sentiments click here

Plantic Technologies inks distribution agreement in the Americas with Klöckner Pentaplast Group

Plantic Technologies Ltd. has inked a new distribution agreement in the Americas for its line of the Plantic biopolymer rigid packaging films in an exclusive partnership with the Klöckner Pentaplast GGroup.

For more details on Plantic Technologies inks distribution agreement in the Americas with Klöckner Pentaplast Group click here

Oil jumps on the ICE, as US dollar weakens

Oil prices have spiked by over three dollars, past US$75 on the ICE futures exchange as the US dollar weakened and optimistic economic news and rising commodity prices propped up global stock markets and European sovereign debt concerns eased amid renewed tension over Iran’s nuclear ambitions.

For more details on Oil jumps on the ICE, as US dollar weakens click here

Bank to lend US$7.5 bln to support investment in Brazil’s petrochemicals industry

Brazil’s state development bank- BNDES, is considering lending about 14 billion reais (US$7.5 bln) until 2013 to support investment in the petrochemicals industry. BNDES is keen to assist resins produucer Braskem SA to expand overseas.

For more details on Bank to lend US$7.5 bln to support investment in Brazil’s petrochemicals industry click here

LyondellBasell could emerge from Chapter 11, RIL’s acquisition plans derailed

LyondellBasell Industries (LB) has reached an agreement that could help it emerge from Chapter 11. LB’s unsecured creditors swapped sides after being offered an extra US$150 mln worth of shares. Unseccured creditors, including bond holders, are estimated to hold around US$3 bln of debt and had unfalteringly supported Reliance Industries Ltd (RIL) as it contested with LB management to take control of the company.

For more details on LyondellBasell could emerge from Chapter 11, RIL’s acquisition plans derailed click here

Mediterranean PVC market fails to match bouyancy of Asia

The Asian PVC market has been rising for the past four months, inevitably pulling the Mediterranean markets along with it as import prices to the region have risen in line with the bullishness in Asiaa, as per Chemorbis.

For more details on Mediterranean PVC market fails to match bouyancy of Asia click here

Polypropylene prices rise in Europe this month, but buying remains limited

Polypropylene (PP) prices in Europe have increased this month, but buying has been limited to essential purchases, as there are still widespread expectations of a price drop in 2010, as per ICIS. Buyeers are very cautious and buying on a hand-to-mouth basis.

For more details on Polypropylene prices rise in Europe this month, but buying remains limited click here

PTTCH's growth target could get disrupted by stalled projects

Thailand’s largest olefins producer PTT Chemicals had set a revenue target of about 100 bln baht for 2010, from 80 billion in 2009. However, the ongoing delay caused by the Map Ta Phut suspension is llikely to disrupt PTTCH’s revenue growth target of 20% in 2010.

For more details on PTTCH's growth target could get disrupted by stalled projects click here

Adding Functions to Waterproofing

New technology is adding to the functions of waterproof membranes and this was discussed at the AMI international conference, Waterproof Membranes 2009, held in Cologne, Germany. Although residential construction in Europe was down by around 6% in 2008, civil engineering and non-residential output held up reasonably well.

For more details on Adding Functions to Waterproofing click here

Japan’s January ethylene output spikes by over 33% on robust demand from China

Japanese ethylene production jumped 33.7 in January 2010 vs January 2009, in line with healthy demand from China. Ethylene output totalled 670,100 tons last month, up from 501,300 tons a ago as per thhe Ministry of Economy, Trade and Industry.

For more details on Japan’s January ethylene output spikes by over 33% on robust demand from China click here

PolyOne’s newly expanded portfolio of specialized solutions for healthcare industry

PolyOne Corporation newly expanded portfolio of specialized solutions for the healthcare industry includes healthcare offerings from major resin suppliers BASF and DuPont as well as from PolyOne’s NEUU Specialty Engineered Materials, LLC subsidiary.

For more details on PolyOne’s newly expanded portfolio of specialized solutions for healthcare industry click here

Eastman Expands Medical Polymer Portfolio

Eastman Chemical Company will expand its portfolio of Eastman Medical Polymers with the launch of Eastman Tritan™ copolyester MP100. Eastman Tritan™ copolyester MP100, an enhanced-performance polymer for rigid medical packaging, maintains all the same properties that have made Eastar™ copolyester 6763 the industry standard for rigid medical packaging, including chemical resistance, clarity and toughness.

For more details on Eastman Expands Medical Polymer Portfolio click here

Global demand for polystyrene forecast to increase at 2% pa through 2011

Demand for most resins fell by 20-24% on average, in Q4-08, while the market for polystyrene fell by 9% as per MarketPublishers.com. On a regional basis, the largest demand declines were seen in Westeern Europe, particularly the UK and Spain.

For more details on Global demand for polystyrene forecast to increase at 2% pa through 2011 click here

India informs S. Korea of anti-dumping case against PP

South Korea’s Embassy is reported to have been informed of an investigation to be conducted against PP imports originating from South Korea, Taiwan and the US, as per Chemorbis. The source which obtaiined a copy of a letter from India’s Department of Commerce to the Embassy of the Republic of Korea noted that “a fully documented application from the Indian Industry manufacturing polypropylene” has been received.

For more details on India informs S. Korea of anti-dumping case against PP click here

Ethylene prices in Asia begin to retreat despite upcoming shutdown

Ethylene in Asia, which had started firmly in 2010, have started to retreat since the beginning of the month as per Chemorbis, due to the increasing supplies from the Middle East- particularly from Saaudi Arabia and Iran, and lack of demand from China as it breaks for the Lunar New Year.

For more details on Ethylene prices in Asia begin to retreat despite upcoming shutdown click here

SABIC plans expansion to double capacity at Ibn Rushd

Saudi Arabian Basic Industries Corp (SABIC) plans expansion at its affiliate Arabian Industrial Fibers Co. (Ibn Rushd), in which it holds 47.2% stake. Ibn Rushd's complex in Yanbu, produces 350,000 tppa of aromatics, purified terephthalic acid (PTA) and polyester staples.

For more details on SABIC plans expansion to double capacity at Ibn Rushd click here

HPL completes Rs 1,230-crore supermax expansion project

After a three month shutdown, Haldia Petrochemical Ltd. (HPL) has successfully completed its Rs 1,230 crore Supermax expansion project. The expansion is estimated to raise capacity from 5,20,000 tpa tto about 6,70,000 tpa.

For more details on HPL completes Rs 1,230-crore supermax expansion project click here

Energy-scavenging PVDF nanofibers that could be woven into clothing and textiles

Engineers have created energy-scavenging nanofibers that could one day be woven into clothing and textiles in a research by University of California, Berkeley. These nano-sized generators have "piezoeelectric" properties that allow them to convert into electricity the energy created through mechanical stress, stretches and twists, leading to wearable 'smart clothes' that can power hand-held electronics through ordinary body movements.

For more details on Energy-scavenging PVDF nanofibers that could be woven into clothing and textiles click here

Yansab to start full commercial production on March 1

Yanbu National Petrochemical Co (Yansab) has announced plans to start full commercial production at all its units on March 1, the biggest and first output addition of 2010. Since its inception four yeears ago, Yansab, 51% owned by Saudi Basic Industries Corp.

For more details on Yansab to start full commercial production on March 1 click here

H1-March cargoes of 70,000 tons fetch lower premiums for ONGC

Oil and Natural Gas Corp (ONGC) has fetched a lower premium on volumes of 70,000 tons for H1-March lifting, due to softer demand. 35,000 tons of heavy naphtha for March 9-10 loading from Hazira port tto Shell fetched a premium of about US$27/ton to Middle East quotes on a FOB basis.

For more details on H1-March cargoes of 70,000 tons fetch lower premiums for ONGC click here

Crude softens amid a firmer US dollar and concerns over EU’s support for Greece

Crude futures softened to US$75/barrel on Friday as the US dollar strengthened and concerns rose over vague statements made by the European Union regarding its support for Greece. Crude prices had rissen on the previous day by expectations of increased heating oil demand amid snow storms in USA.

For more details on Crude softens amid a firmer US dollar and concerns over EU’s support for Greece click here

PVC demand growth in China expected to recover by 2011

Global PVC market had been growing at around 4% pa with strong demand growth in Asia, China and India in particular as per MarketPublishers.com. However, the demand collapsed in 2008 due to economic rrecession and destocking throughout the chain.

For more details on PVC demand growth in China expected to recover by 2011 click here

Polyolefin and PVC demand in India expanded by 11-30% in April-Dec 2009

Growing at its strongest pace in the last few years, polyolefin and polyvinyl chloride (PVC) demand expanded by 11-30% in April-Dec 2009, amid robust demand from packaging and infrastructure sectors wwith the trend expected to continue in 2010, as per ICIS.

For more details on Polyolefin and PVC demand in India expanded by 11-30% in April-Dec 2009 click here

Global polycarbonate demand to slow to 5% pa between 2009-2015

Global annual polycarbonate demand growth is forecast to slow to around 5% between 2009-2015, from historical growth rates of around 7-8% as per Market Publishers.com Key optical data storage applicattion will continue falling as it is superseded by other data storage options, losing its leading position to the electronics/electrical sector.

For more details on Global polycarbonate demand to slow to 5% pa between 2009-2015 click here

European ethylene prices to ease with increased supply, softening downstream prices in Asia

Ethylene prices in Europe could have passed its peak for 2010 as improved cracker operations ease the supply situation and derivative prices weaken in Asia, as per ICIS. Supplies have been limited in December and January mainly due to unexpected outages at three crackers over the Christmas and New Year break.

For more details on European ethylene prices to ease with increased supply, softening downstream prices in Asia click here

West European PS falls from initial levels in Turkey

Turkish players reported deal conclusion for West European origin PS this week, revealing a rollover from the January prices, despite a €30-50/ton raise in initial February offers. As per Chemorbis, tthe price hikes for February were in line with announcements from Europe where producers were asking for higher prices to restore their margins after the styrene contracts settled lower by around €13/ton.

For more details on West European PS falls from initial levels in Turkey click here

Asian PVC sellers planning to seek higher prices for March

In Asia, import prices of PVC have witnessed significant increases in the past three months despite winter being the traditional slow season for the product, as per Chemorbis. According to data from CChemOrbis Price Index, spot PVC prices on a CFR China basis have seen a cumulative increase of US$160/ton over the months of December, January and February.

For more details on Asian PVC sellers planning to seek higher prices for March click here

Second week of decline in Asian spot ethylene from 17 month highs amid weak derivative demand

Spot ethylene values in Asia are on the decline for a second consecutive week, dipping from 17 month highs of US$1400/ton amid weak derivative demand, raising concerns of a sustained price downtrend, as per ICIS.

For more details on Second week of decline in Asian spot ethylene from 17 month highs amid weak derivative demand click here

Severe winter grips US, oil and gas prices rise on confidence over EU plan to assist Greece

Crude oil and natural gas prices rose yesterday as severe winter gripped most of USA. Crude oil futures on the Nymex rose past US$75, while ICE inched above US$73. Crude oil also gained as investors ffound confidence with the European Union's plan to assist Greek with its national debt.

For more details on Severe winter grips US, oil and gas prices rise on confidence over EU plan to assist Greece click here

KBR awarded contract to upgrade Eleme Petrochemicals’ ethylene plant

KBR has been awarded a contract by Eleme Petrochemicals Co. Ltd (Eleme) to provide technology licensing and engineering services for the revamp of Eleme's 550,000 tpa ethylene plant at Port Harcourt, Nigeria.

For more details on KBR awarded contract to upgrade Eleme Petrochemicals’ ethylene plant click here

Maintenance shutdown at Oman Polypropylene 340,000 tpa PP unit

A shutdown for a planned maintenance has been implemented at a 340,000 tpa polypropylene (PP) plant operated by Oman Polypropylene. Shut since first week February, the plant will remain off-stream forr a period of two months, along with an oil refinery operated by a group company.

For more details on Maintenance shutdown at Oman Polypropylene 340,000 tpa PP unit click here

Capacity expansion project Supermax nears completion at Haldia Petrochemicals

Haldia Petrochemicals’ capacity expansion project - Supermax is nearing completion, with production likely to start production over the weekend. Upon stabilization of production within a month, HPL’s polymer making capacity will increase by 30%.

For more details on Capacity expansion project Supermax nears completion at Haldia Petrochemicals click here

Specialty Packaging Conference Comes to the USA

Demands for sustainability and higher shelf life in packaging are pushing the film industry in two directions – towards biodegradable barrier films and to long-life films that extend product life and reduce waste.

For more details on Specialty Packaging Conference Comes to the USA click here

No immediate plans by Braskem to affect Sunoco’s La Porte facility

Braskem SA, that agreed to acquire Sunoco Inc.’s US polypropylene business, has no immediate plans affecting the company’s La Porte facility. La Porte is Sunoco Chemicals’ largest plant and the one wiith the most competitive raw material contract, sourcing feedstock from Equistar.

For more details on No immediate plans by Braskem to affect Sunoco’s La Porte facility click here

Indian composites market poised for growth

Composites industry in India, after recording impressive growth during last 5 years is now poised for a take-off as per reportlinker. In the past few years the industry has witnessed a growth rate of more than 15% while developed markets in N.

For more details on Indian composites market poised for growth click here

Approval from Brazilian antitrust regulators likely for Braskem’s acquisition of Quattor

Latin America’s biggest petrochemicals producer Braskem SA is likely to get approval from Brazilian antitrust regulators to buy Quattor Petroquimica SA. Brazil’s antitrust agency, known as Cade, is liikely to approve the deal because both companies compete in a global market, with little effect on domestic prices to consumers.

For more details on Approval from Brazilian antitrust regulators likely for Braskem’s acquisition of Quattor click here

Oltchim agrees to acquire the petrochemicals business of Romania’s oil major Petrom

After months of negotiations, state-owned Romanian chemicals producer Oltchim has finally agreed to acquire Arpechim, the petrochemicals business of Romania’s biggest oil and gas group Petrom, along wwith its workforce of 560 at Pitesti, as per prw.

For more details on Oltchim agrees to acquire the petrochemicals business of Romania’s oil major Petrom click here

Chandra Asri, Dow, Pertamina, Polytama, Try Polyta to invest US$1.12 bln in Indonesia

Chandra Asri, Dow Chemicals, Pertamina, Polytama and Try Polyta plan to invest a total of US$1.12 bln in 2010 in Indonesia as per an association of olefin and plastic industries. The projects planned by the five Indonesian petrochemical companies are expected to reduce a deficit in the supplies of petrochemical products.

For more details on Chandra Asri, Dow, Pertamina, Polytama, Try Polyta to invest US$1.12 bln in Indonesia click here

Upward pressure in local and import markets in Egypt despite poor demand

Upward pressure prevails in the local and import markets in Egypt despite poor demand, as per Chemorbis. Most buyers prefer to defer fresh purchases, or meet their requirements in small volumes. This situation is seeing support from the impending Chinese New Year as players want to wait until the holiday period is over in order to be clear regarding the market direction.

For more details on Upward pressure in local and import markets in Egypt despite poor demand click here

High offers for Asian PVC see resistance in buyers from Turkey

Under upward pressure from Asia, the Turkish market had seen a noticeable jump in Asian offers, with prices for February cargoes rising to US$1120/MT CFR Turkey at the end of January, as per Chemorbiss.

For more details on High offers for Asian PVC see resistance in buyers from Turkey click here

ONGC Petro-Additions Innovene PP Process for Dahej Complex

INEOS Technologies has licensed its ‘Innovene PP Process’ for the manufacture of polypropylene homopolymers, random and impact copolymers and the ‘Innovene G Process’ for the manufacture of linear loww density and high density polyethylene to ONGC Petro additions Limited (OPaL).

For more details on ONGC Petro-Additions Innovene PP Process for Dahej Complex click here

Court approval sought for test runs of 16 suspended projects at Map Ta Phut

The Thai government plans to submit a new petition within a week seeking court approval for test runs for 16 of the suspended Map Ta Phut industrial projects. Most of the projects are linked with subssidiaries of the Siam Cement Group such as Thai Polyethylene, Thai MMA and BST Elastomers
Last month was disappointing for the suspended projects whose petition was rejected by the Administrative Court.

For more details on Court approval sought for test runs of 16 suspended projects at Map Ta Phut click here

Global Electroactive Polymers Market to grow to US$2.78 bln in 2014

Technological developments in the electronics and semiconductor industries have led to the creation of polymers that change shape on the application of voltage. The biggest application for electroactiive polymers (EAPs) lies in their future use as actuators and sensors, which in turn opens up a huge spectrum of applications in the fields of electronics, healthcare, sensing, and solar energy generation.

For more details on Global Electroactive Polymers Market to grow to US$2.78 bln in 2014 click here

Aromatics in Asia on downtrend

Reflecting weaker sentiment, spot paraxylene (PX) prices dropped almost 12% in the past month and breached the psychologically mark of US$1000/ton, as most end-user requirements for the month of Marchh has been covered, as per ICIS.

For more details on Aromatics in Asia on downtrend click here

Increasing demand for bioplastics flout trends by other plastics in the economic downturn

The market for bioplastics is defying the economic downturn as brand owners worldwide continue to invest in the technology, according to the chairman of the European Bioplastics board in prw.com. Accoording to European Bioplastics, growth will continue over the next four years.

For more details on Increasing demand for bioplastics flout trends by other plastics in the economic downturn click here

Advanced medical-grade elastomers provide first fully practical alternative to PVC for tubing

A series of advanced medical-grade elastomers that provide the first fully practical alternative to PVC for many tubing applications has been introduced by Teknor Apex Company. The Medalist MD-500 Serries compounds exhibit crystal clarity and mechanical properties comparable to those of PVC; provide similar clamp resilience and resistance to kinking and necking; have a PVC-like "feel"; and are substantially more flexible and significantly less dense.

For more details on Advanced medical-grade elastomers provide first fully practical alternative to PVC for tubing click here

Unplanned shutdown at PTT Chemical to affect 700,000 tons of olefin production

An unplanned shutdown at Thailand’s PTT Chemical PCL’solefins plant due to power problems, will affect about 40% of its total production, amounting to 700,000 tons. The company needs a couple of days for inspection of the problem that occurred around the middle of last week.

For more details on Unplanned shutdown at PTT Chemical to affect 700,000 tons of olefin production click here

6 petrochemical projects with 3.14 mln tps capacity to open at Assaluyeh, Iran

Six important petrochemical projects, with 3.14 million tpa capacity is to be inaugurated in Assaluyeh, Iran. Built at an investment outlay of US$2 bln, most of the projects will focus on the petrocheemical sector.

For more details on 6 petrochemical projects with 3.14 mln tps capacity to open at Assaluyeh, Iran click here

Is the masterbatch industry ready for recovery?

Economic analysts are pointing to the recession drawing to a close in Europe driven by fiscal and monetary stimuli together with relatively resilient growth in Asia and Latin America. However, having survived the recession thus far, plenty of challenges still lie ahead for the masterbatch industry.

For more details on Is the masterbatch industry ready for recovery? click here

Twelve new grades of engineering polymers for use in health care

Twelve new grades of DuPont engineering polymers that meet demanding requirements for use in health care products and equipment are making their debut. The materials are being introduced in addition tto existing products making the DuPont offering one of the broadest portfolios of engineering plastics and thermoplastic elastomers for medical devices, surgical devices and for diagnostic or pharmaceutical manufacturing equipment.

For more details on Twelve new grades of engineering polymers for use in health care click here

New composite material that could revolutionise car design and manufacturing

Parts of a car's bodywork could one day double up as its battery, according to the scientists behind a new €3.4 mln project. Researchers from Imperial College London and their European partners are deeveloping a prototype material which can store and discharge electrical energy and which is also strong and lightweight enough to be used for car parts.

For more details on New composite material that could revolutionise car design and manufacturing click here

LyondellBasell declares FM on US olefins

LyondellBasell has declared a force majeure (FM) on US olefins, on supply restrictions possibly due to a rumoured delay in the restart of the company’s Corpus Christi cracker in Texas. However, the coompany maintains that the restart at Corpus Christi remains on schedule for February.

For more details on LyondellBasell declares FM on US olefins click here

Thai producer’s March PVC offers to SEA rise by US$30

A Thai producer announced March PVC offers this week at US$1050/ton CIF SEA, cash, an increase of US$30/ton when compared with their February done deal levels, as per Chemorbis. The producer commentedd that they do not expect to be able to conclude many deals given the short time remaining before the Chinese New Year holidays, although they added that they have no intentions of agreeing to any discounts on their new offers over the short term.

For more details on Thai producer’s March PVC offers to SEA rise by US$30 click here

PE demand better than PP in Italy

Although both PP and PE markets are under upward pressure from rising monomer costs and limited availability in Italy, PE demand is performing much better than that of PP as per Chemorbis. Both the maarkets have seen large price hikes of €80-100/ton; however, many sellers affirm that PP demand is slow.

For more details on PE demand better than PP in Italy click here

Asian producers await onset of Lunar New Year Holidays on a cautious note

Polymer market in Asia generally tends to slow down ahead of the Chinese New Year, with a chunk of the players preferring to wait in the sidelines. As a result of slower trading activities, the markett sentiment traditionally softens, leading buyers to look for some discounts from sellers, as per Chemorbis.

For more details on Asian producers await onset of Lunar New Year Holidays on a cautious note click here

Downward pressure on benzene price to continue in Asia

Weakness in crude futures amid robust benzene supply in Asia will continue to exert pressure on regional prices of the aromatics product in the near-term. As per ICIS, a near 5% fall in crude prices tto US$73/bbl overnight, shook the market in Asia on Friday, sending benzene prices crashing down by US$30-40/ton to US$915-930/ton FOB Korea at midday.

For more details on Downward pressure on benzene price to continue in Asia click here

Unclear direction of naphtha markets in Asia

The direction of naphtha markets in Asia is currently confusing - some traders are bidding up prices because of a lack of arbitrage material, while C2, C3 and aromatics prices are coming down, as per ICIS.

For more details on Unclear direction of naphtha markets in Asia click here

Naphtha prices and crack spreads dip to this week’s lows in Asia

Naphtha prices and crack spreads have dipped to their lowest level this week as buyers refrain from concluding deals on rising concerns of deteriorating petrochemical demand and bearish market outlookk in China ahead of the Lunar New Year Holidays.

For more details on Naphtha prices and crack spreads dip to this week’s lows in Asia click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended February 8, 2010

CRUDE OIL
Crude oil prices have fallen to US$71 per barrel in the week of February 8, 2010. After briefly rising above US$77/barrel earlier last week, ccrude oil futures plunged by over six dollars in just three days, plummeting to their lowest point since December 2009.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended February 8, 2010 click here

Domestic PP prices rise for second time in Feb in Indonesia

Domestic producers have announced their second PP price increase for February this week, raising prices by US$20/ton for all PP products in Indonesia due to persistently limited supply in the local maarket, as per Chemorbis.

For more details on Domestic PP prices rise for second time in Feb in Indonesia click here

Asian spot monomers weaken on drop in crude oil, slowing demand at the onset of Chinese holidays

Spot prices for most monomers are retreating in Asia in the final week before the Chinese New Year holidays, due to the holiday lull in Asian demand as well as softening crude oil prices. As per Chemmorbis, after briefly rising above US$77/barrel earlier last week, crude oil futures on the NYMEX were at US$71.

For more details on Asian spot monomers weaken on drop in crude oil, slowing demand at the onset of Chinese holidays click here

Asia-Pacific and Middle East to account for over 80% of planned PE capacity additions to 2015

Enormous demand in countries such as China and the feedstock cost advantages of the Middle East mean the Asia-Pacific and Middle East regions will account for more than 80% of planned PE capacity addiitions to 2015, according to a report by Global Markets Direct.

For more details on Asia-Pacific and Middle East to account for over 80% of planned PE capacity additions to 2015 click here

Saudi Aramco to invest US$120 bln over next 6 years in oil and petrochemicals sectors

State-owned Saudi Aramco plans to invest approximately US$120 bln over the next 5-6 years in developing projects in the oil and petrochemicals sectors. With completion of several refinery expansions, the state owned company is now working to meet the country's gas demands as it moves downstream into production of petrochemicals.

For more details on Saudi Aramco to invest US$120 bln over next 6 years in oil and petrochemicals sectors click here

SABIC to continue with expansion

Backed by abundant feedstocks at economic rates, higher profits and increased market share, Saudi Basic Industries Corporation (SABIC) continues to expand even as rivals such as BASF and Dow Chemical struggled with rising raw material costs last year.

For more details on SABIC to continue with expansion click here

JG Summit’s long delayed naphtha cracker subject to government inspections amid a review of tariff protection

JG Summit Petrochemical Corp.’s long delayed naphtha cracker will be subject to government inspections amid a review of the company's tariff protection. JG Summit, represented by the Association of Peetrochemical Manufacturers of the Philippines, is opposing the downstream plastic industry's petition to eliminate tariffs on imported resin, which competes with JG Summit Petrochemical's output- claiming that the protection is necessary to make the proposed naphtha cracker.

For more details on JG Summit’s long delayed naphtha cracker subject to government inspections amid a review of tariff protection click here

Dollar weakens, equities strengthen, oil rises from 7 week lows

Crude oil for March delivery rose by over a dollar to US$72.3 a barrel on the Nymex, and to US$71.6 in London. Late last week, the contract fell to the lowest settlement since Dec. 15, as higher-than--forecast job losses in USA depressed global stock markets and commodity prices.

For more details on Dollar weakens, equities strengthen, oil rises from 7 week lows click here

Mitsubishi and Asahi Kasei delay integration of operations of ethylene plants in Okayama

Mitsubishi Chemical Holdings Corp and Asahi Kasei Corp had announced plans to integrate operations of their plants in Okayama Prefecture, in April 2009. The merger was planned to meet the glut in demaand of ethylene derivatives.

For more details on Mitsubishi and Asahi Kasei delay integration of operations of ethylene plants in Okayama click here

Speculations for further hike in March PE prices in Italy

In view of robust demand and ongoing supply issues, some players have started to express bullish expectations for March in Italy’s PE market, as per Chemorbis. Minimum price hikes of €100/ton have alrready materialized for PE in Italy’s spot market for February, over and above the €60-100/ton increases in January.

For more details on Speculations for further hike in March PE prices in Italy click here

Domestic LLDPE, LDPE prices rally in Egypt as import stocks dwindle

Price of domestic LDPE film has spiked up to EGP1400/ton (US$256/ton) in Egypt since the beginning of January. This situation is mainly attributed to limited import availability from mainstream Middlee Eastern producers as per Chemorbis.

For more details on Domestic LLDPE, LDPE prices rally in Egypt as import stocks dwindle click here

Sunoco to sell Marcus Hook facility including PP unit to Braskem

Sunoco is selling its Marcus Hook subsidiary, Sunoco Chemicals Inc along with its polypropylene unit for US$350 mln to Braskem. Located adjacent to Sunoco refinery, the unit is operational. The sale iincludes units in manufacturing facilities in La Porte, Texas, and Neal, W.

For more details on Sunoco to sell Marcus Hook facility including PP unit to Braskem click here

A new Composite Polymer which is the hardest and stronger than the strongest metal

A new Composite Polymer claimed to be the hardest and stronger than the strongest metal as been unveiled by chemists at the Bangalore-based Jawaharlal Nehru Centre for Advanced Scientific Research (JNNCASR).

For more details on A new Composite Polymer which is the hardest and stronger than the strongest metal click here

Global biodegradable polymers market doubled from 2005 to 2009

Growth has been forecast for biodegradable polymer markets as per a report by SRI Consulting (SRIC). The report states that global biodegradable polymers market doubled from 2005 to 2009. The consultiing and business research service noted that this growth occurred despite global economic slowdowns.

For more details on Global biodegradable polymers market doubled from 2005 to 2009 click here

Crude oil weakens, naphtha nears US$700/MT in Asia at end of week

Crude futures weakened on Friday, after sharp fall of around 5% on Thursday, amid a strengthening in the US dollar, unemployment worries, and concerns over the strength of the Euro zone economies. As per ICIS pricing, Crue Mar WTI US$72.

For more details on Crude oil weakens, naphtha nears US$700/MT in Asia at end of week click here

Formosa to invest NT$650 bln in 2010 in 3 major petrochemical and steel projects

Taiwan’s Formosa Plastics Group plans to invest NT650 bln in three major petrochemical and steel projects at home as well as overseas in 2010. These include:
The fifth-phase expansion of it`s naphthha cracking complex at Maoliao Offshore Industrial Zone in Yunlin County at an investment of NT$280 bln
A major steel refinery in Vietnam at NT$280 bln A stainless steel plant in Xiamen, China, at NT$90 bln
Uncertainty shrouds the groundbreaking of the fifth-phase expansion of the Mailiao naphtha cracking complex, since its environmental impact statement is still undergoing the review by Environmental Protection Administration, under the Executive Yuan.

For more details on Formosa to invest NT$650 bln in 2010 in 3 major petrochemical and steel projects click here

IRPC plans to shift focus from commodities to specialty plastic for higher profit margins

In a bid to gain from higher profit margins, Thailand’s IRPC Plc plans to change its focus from commodities to specialty plastic. This step will move IRPC (Southeast Asia's number one integrated petroochemical complex) closer towards a leading position in petrochemicals in Asia by 2014.

For more details on IRPC plans to shift focus from commodities to specialty plastic for higher profit margins click here

SEAsia receives offers from new PP and PE capacities in UAE and Thailand

Players in South East Asia have started to receive offers from new PP and PE capacities belonging to Borouge and the Siam Cement Group (SCG). A converter in the Philippines reported that they purchaseed two containers of Northwest European homo-PP injection offered as part of a pre-marketing campaign for Borouge’s new 800,000 tpa PP plant in the United Arab Emirates.

For more details on SEAsia receives offers from new PP and PE capacities in UAE and Thailand click here

Spot prices of styrene and derivative PS moving in opposite directions

The spot markets for styrene and derivative PS are moving in opposite directions this week in Asia as per Chemorbis. Spot PS prices are slipping even as feedstock SM prices are rising to regain all thhe losses of the previous week.

For more details on Spot prices of styrene and derivative PS moving in opposite directions click here

Trade barriers could tame Chinese petrochem demand post Lunar New Year break

Prices of select petrochemical products in Asia have been on a downtrend in the absence of a major demand. China’s petrochemicals markets were lacklustre ahead of Lunar New Year celebrations. Though mmarket demand is expected to revive post-holidays towards late February, it may be subdues as compared to the recent past as trade barriers get raised.

For more details on Trade barriers could tame Chinese petrochem demand post Lunar New Year break click here

Eastman considers exit from PET business

From World No 1 supplier of polyethylene terephthalate (PET), Eastman Chemical Co. seems on the verge of exit from the business. The company’s performance polymers business has been a non performer for the past 4-5 years and has drawn on earnings from other performing sectors of the company.

For more details on Eastman considers exit from PET business click here

JBF Industries signs MOU with OOC for PTA plant at Port of Sohar

Indian petrochemicals manufacturer JBF Industries Ltd. has inked a Memorandum of Understanding with state owned Oman Oil Company SAOC (OOC) to jointly build a major purified terephthalic acid (PTA) pllant at Port of Sohar.

For more details on JBF Industries signs MOU with OOC for PTA plant at Port of Sohar click here

Price hikes in PVC and PET continue since beginning of year in USA

PVC and PET prices have been on the rise in North America since the beginning of the year. Suspension PVC prices have risen by an average of 5 cents/lb and by 3 cents/lb for PET bottle resin in the reegion as per Plastics News.

For more details on Price hikes in PVC and PET continue since beginning of year in USA click here

Bayer MaterialScience unveils worlds’ largest carbon nanotubes facility

Bayer MaterialScience has opened a new pilot facility for manufacture of carbon nanotubes (CNTs) at CHEMPARK Leverkusen. With a 200 tpa capacity, this facility is the largest of CNT plant in the worldd, built at an investment outlay of €22 mln sent for planning, development and construction of the facility.

For more details on Bayer MaterialScience unveils worlds’ largest carbon nanotubes facility click here

Sinopec to shift Beihai refinery to Tieshan Port, to add polypropylene plant

Shrouded by tighter environmental regulations, Sinopec is shifting its 12,000 bpd Beihai refinery from the Guangxi province near Vietnam, to Tieshan Port. Tieshan Port is about 40 kms from Beihai. At the new site, Sinopec has plans to build a major refinery of 200,000 bpd, a 200,000 tpa polypropylene plant by 2011, along with a 20 mln barrel commercial crude oil storage base.

For more details on Sinopec to shift Beihai refinery to Tieshan Port, to add polypropylene plant click here

Sinopec to shift Beihai refinery to Tieshan Port, to add polypropylene plant

Shrouded by tighter environmental regulations, Sinopec is shifting its 12,000 bpd Beihai refinery from the Guangxi province near Vietnam, to Tieshan Port. Tieshan Port is about 40 kms from Beihai. At the new site, Sinopec has plans to build a major refinery of 200,000 bpd, a 200,000 tpa polypropylene plant by 2011, along with a 20 mln barrel commercial crude oil storage base.

For more details on Sinopec to shift Beihai refinery to Tieshan Port, to add polypropylene plant click here

US EPA updates renewable fuel standards

US Environmental Protection Agency (EPA) has updated renewable fuel standards (RFS2), - leading to a major increase in the use of biofuels in the nation’s fuel supply. The update mandates that more thhan 15 bln gal pa of renewable fuels enter US fuel tanks by 2012.

For more details on US EPA updates renewable fuel standards click here

KPC brings down premium on April-March naphtha offers to US$24

Leading Middle Eastern naphtha supplier Kuwait Petroleum Corp (KPC) had proposed a premium of US$26 above Middle East quotes on FOB basis for its April 2010-March 2011 cargoes. The best bid heard for this was at much lower level of US$18/ton premium.

For more details on KPC brings down premium on April-March naphtha offers to US$24 click here

SEA PVC exports fall, China fades, Italy disappears in Turkey

Southeast Asian countries of Indonesia, Malaysia, Thailand and Vietnam had been major contributors to Turkey’s PVC market in 2008 with a total of 142,739 tons. Their contribution in 2009 dropped conssiderably as per Chemorbis.

For more details on SEA PVC exports fall, China fades, Italy disappears in Turkey click here

Qatofin plans to offer larger LLDPE volume for March shipment

Qatofin plans to offer additional volumes of LLDPE for March. Qatofin plans to announce offers for March shipment to Asian markets towards the end of February as per Chemorbis. Qatofin’s new 450,000 ttpa LLDPE plant in Qatar is expected to reach full production rates in mid-February, allowing the company to offer full allocations to their target markets for March shipment.

For more details on Qatofin plans to offer larger LLDPE volume for March shipment click here

IOC to start work on Paradip petrochem complex along with refinery project in second phase

Indian Oil Corporation (IOC) plans to commence work for its proposed petrochemical complex along with its refinery project in Paradip in the second phase of construction, along with a pipeline betweenn Paradip and Raipur.

For more details on IOC to start work on Paradip petrochem complex along with refinery project in second phase click here

Sinopec and TPG Capital plan joint bid to acquire LyondellBasell?

Sinopec and TPG Capital, L.P. are reported to be planning a joint bid to acquire LyondellBasell Industries. Other details are not known.


For more details on Sinopec and TPG Capital plan joint bid to acquire LyondellBasell? click here

MRPL sells March naphtha cargo for lower premium

India's Mangalore Refinery and Petrochemicals Ltd (MRPL) has sold March naphtha cargo for a lower premium amid expectations of lower demand because of cracker maintenance next month. A parcel of 35,0000 ton for March 14-16 loading to Shell was sold at a premium of about US$26/ton to Middle East quotes on FOB basis, as compared to a US$31.

For more details on MRPL sells March naphtha cargo for lower premium click here

Naphtha prices rebound in Asia

Naphtha prices in Asia have rebounded from very low levels seen earlier in the week to a two-week high. Open spec naphtha for H2-March spiked by US$37 to US$712/MT CFR Japan. Naphtha cracks have also rebounded to a three-session high after dropping to their lowest in two months.

For more details on Naphtha prices rebound in Asia click here

Honam Petrochemical to expand naphtha cracker capacity by 250,000 tpa

Honam Petrochemical plans to augment naphtha cracker capacity by 250,000 tpa by October 2012 at an investment outlay of 520 bln won (US$453.1 mln). With this, the company will have a total cracking caapacity of 2 mln tpa, making it South Korea's largest producer.

For more details on Honam Petrochemical to expand naphtha cracker capacity by 250,000 tpa click here

Kabra Extrusiontechnik plans capacity expansion at Daman to the tune of Rs 85 crores

Kabra Extrusiontechnik has announced plans to expand capacity at Daman at an outlay of Rs 85 crores. The expansion involves investment in machinery and other utilities but it does not include investmeent in land and building.

For more details on Kabra Extrusiontechnik plans capacity expansion at Daman to the tune of Rs 85 crores click here

Total ethylene consumption will return to 115 mln tons by end of 2010

Total ethylene consumption will return to 115 mln tons by the end of 2010, resulting in zero demand growth for the 2008-2010 period as per a report by MarketPublishers.com.
In 2010, chemicals demand recovery will differ significantly in terms of end-market and geographic region.

For more details on Total ethylene consumption will return to 115 mln tons by end of 2010 click here

BASF restarts its smaller steam cracker in Ludwigshafen

A fire forced BASF to shut down its smaller steam cracker in Ludwigshafen just before Christmas 2009. BASF has announced the restart of the affected cracker. The restart is expected to ease the tight supply situation in the ethylene market in Europe.

For more details on BASF restarts its smaller steam cracker in Ludwigshafen click here

Environment friendly sleeping mattresses

In the quilted top layer of almost all its mattresses, US based Denver Mattress uses 1-3 inches of soy-based foam, called BioFlex™ Hybrid Foam, that is made from Cargill's BiOH® soy-based polyol. Thiss high-density foam achieves a perfect balance between biobased content and performance including support factor ratio; tensile, tear and elongation strength; height loss; and indentation force deflection.

For more details on Environment friendly sleeping mattresses click here

PTT Plc to negotiate with contractors of its 18 suspended projects for settlement of penalties

With Siam Cement, Thailand’s PTT Plc is one of the two hardest-hit businesses in the Map Ta Phut suspension case. The two majors each own 18 of the 64 suspended projects that are now facing constructiion delays caused by the Administrative Court's order to suspend work.

For more details on PTT Plc to negotiate with contractors of its 18 suspended projects for settlement of penalties click here

Crude demand expected to rise: prices linger at US$77 in Asia

Benchmark crude for March delivery dipped to US$77.06 at midday Bangkok time in electronic trading on the New York Mercantile Exchange., after spiking by two dollars on the previous day. In London, Brrent crude dipped to US$75.

For more details on Crude demand expected to rise: prices linger at US$77 in Asia click here

PET prices continue to be linked to input costs in Europe

PET prices in Europe have increased in January 2010 in line with rising input costs. As per Plastics Information Europe, feedstock MEG prices increased by €125/ton to levels of €785/ton as supply getss increasingly stringent.

For more details on PET prices continue to be linked to input costs in Europe click here

Sluggish demand, lower input costs pull down GPPS and HIPS offers in China

Several producers and distributors in China continue to reduce offers for GPPS and HIPS this week yielding to lower styrene feedstock costs as well as persistently sluggish end demand, as per Chemorbiis.

For more details on Sluggish demand, lower input costs pull down GPPS and HIPS offers in China click here

Maintenance at Sulfindo’s 80,000 tpa PVC plant in Indonesia: March PVC exports suspended

Indonesia’s Sulfindo Adiusaha plans to suspend its PVC export offers for the coming month due to an ongoing maintenance at its 80,000 tpa PVC plant in Indonesia. The plant, scheduled to restart in latte January following a two-week maintenance shutdown, continues to be off-line, and could resume production later this week.

For more details on Maintenance at Sulfindo’s 80,000 tpa PVC plant in Indonesia: March PVC exports suspended click here

PP moves up again in Italy as propylene rises

As February propylene contract price in the European market settled last week with an additional increase of €85/ton (US$118/ton) from January levels, PP price hikes seemed inevitable. As per Chemorbiis, price hikes have emerged for homo-PP from €80-120/ton for February.

For more details on PP moves up again in Italy as propylene rises click here

Kazakhstan and Uzbekistan set to develop world class petrochemicals industry in Central Asia

Kazakhstan and Uzbekistan are set to leverage their strength in oil and gas resources to develop a world class petrochemicals industry in Central Asia, according to a report by Business Monitor Internnational.

For more details on Kazakhstan and Uzbekistan set to develop world class petrochemicals industry in Central Asia click here

Dow CEO predicts better prospects in 2010

Dow Chemical Co. reported a fall in Q4 sales in North America and Europe as growth in those regions may be eroded by high unemployment. North American revenue tumbled 19% to US$4.12 bln as volumes felll 11% and European sales dropped 3.

For more details on Dow CEO predicts better prospects in 2010 click here

Naphtha prices firm up in Europe

Naphtha prices in Europe have risen, marginally exceeding gains in crude oil prices. Restart of petrochemical crackers supported naphtha prices, offsetting the limited arbitrage to Asia. All three of BASF's European petrochemical steam crackers are now online after two plants restarted after being shut down due to damage by two fires.

For more details on Naphtha prices firm up in Europe click here

Foster Wheeler and SOFCON ink deal to form joint regional engineering hub in Saudi Arabia

Foster Wheeler AG’s subsidiary of its Global Engineering and Construction Group has signed a Joint Venture Agreement to form a Saudi Arabian entity with A. Al-Saihati, A. Fattani and O. Al-Othman Conssulting Engineering Company (SOFCON) in the Kingdom of Saudi Arabia.

For more details on Foster Wheeler and SOFCON ink deal to form joint regional engineering hub in Saudi Arabia click here

Ineos hives off fluorochemicals unit to Mexican conglomerate

In a bid to ease its debt burden, World No 3 chemicals group Ineos, has sold its fluorinated chemicals unit - Ineos Fluor, to Mexican conglomerate Mexichem. The fluorochemicals unit is no longer deemeed as part of the core to the group.

For more details on Ineos hives off fluorochemicals unit to Mexican conglomerate click here

HPCL naphtha premiums plunge by more than 65% for February

Premiums on February cargoes have plunged by over 65% for India's Hindustan Petroleum Corp Ltd (HPCL) amid lackluster sentiment hampered by demand cuts, due to heavy cracker maintenance in March in Jaapan and South Korea.

For more details on HPCL naphtha premiums plunge by more than 65% for February click here

German FKuR GmbH to produce Bioplastics in North America

FKuR Kunststoff GmbH, manufacturer of tailor-made biopolymer specialties on the basis of Polylactic acid/Copolyester (Bio-Flex), cellulose ester (Biograde) and WPC (Fibrolon), has commenced operationss of FKuR Plastics Corporation, in Texas, a newly founded subsidiary.

For more details on German FKuR GmbH to produce Bioplastics in North America click here

Braskem acquires Sunoco Polypropylene business for US$350 mln

Braskem SA, leading producer of petrochemicals and thermoplastic resins in the Americas, has acquired Sunoco Chemicals, Inc. The deal comprises of its polypropylene business, to Braskem for approximattely US$350 mln in cash.

For more details on Braskem acquires Sunoco Polypropylene business for US$350 mln click here

Indian Co acquires Specialty Catalysts Business from DuPont

Dorf Ketal Chemicals (India) Pvt Ltd headquartered in Mumbai, is a global player in process chemicals, and additives for refineries, petrochemicals, fuels, plastics, lubricants and oilfield industriess.

For more details on Indian Co acquires Specialty Catalysts Business from DuPont click here

Domestic producers announce February PP and PE offers with further increases

Players in Malaysia report that domestic producers have announced their February PP and PE offers with further increases from the late January offer levels as per Chemorbis, triggered by higher producction costs along with limited availability.

For more details on Domestic producers announce February PP and PE offers with further increases click here

Propylene outlook firm globally as Feb contracts settle higher

An €85/ton increase month on month, was witnessed in Europe for February polymer grade propylene contract that settled last week at €875/ton FD NWE, as per Chemorbis. Price hike was triggered by poor cracker margins caused by higher naphtha prices amid a reduction in supply caused by lower operating rates at fluid catalytic converters because of poor refining margins.

For more details on Propylene outlook firm globally as Feb contracts settle higher click here

Arkema completes acquisition of Dow's Acrylic Monomers and Acrylic Latex Polymers business in North America

Arkema has formally completed its acquisition of Dow's Acrylic Monomers and Acrylic Latex Polymers (UCAR Emulsion Systems) business in North America. Following this acquisition, the Clear Lakes (Texass) Acrylic Monomers production site is being integrated into the existing Acrylics business unit, within the Industrial Chemicals business segment.

For more details on Arkema completes acquisition of Dow's Acrylic Monomers and Acrylic Latex Polymers business in North America click here

KPC plans to raise term naphtha price

Kuwait Petroleum Corp (KPC) is currently in talks with Asian buyers to renew the April 2010-March 2011 term contract. KPC is expected to raise the premiums to US$20/ton to benchmark Middle East pricess for naphtha term shipments during negotiations next week.

For more details on KPC plans to raise term naphtha price click here

Naphtha prices in Asia plunge to 14 week lows

Naphtha prices in Asia have plunged to 14 week-lows as cracks hit their lowest in two months amid pressures from demand cuts triggered by maintenance shutdowns at petrochemical plants.

South Korea''s Honam bought three cargoes of 67,500-90,000 tons for March arrival at premiums a tad over US$7/ton to Japan spot quotes on C& basis.

For more details on Naphtha prices in Asia plunge to 14 week lows click here

Wide Spread between naphtha and ethylene in Asia reaches 2007 levels

Ethylene prices have spiked to a 17-month-high, creating the widest spread between naphtha and ethylene since 2007, as per ICIS. End of last week, ethylene was pegged at US$1310/MT FOB Korea, while naaphtha stood at US$690/MT CFR Japan.

For more details on Wide Spread between naphtha and ethylene in Asia reaches 2007 levels click here

Dow attracts bids for styrene unit from buyout firms to a competing business, BASF to follow

Dow Chemical Co. aims to sell Styron Inc, its styrene business by the end of March after an eight-month process by getting private equity approaches. After holding second-round bids last month, Dow iss opening Styron’s books for further due diligence to whittle down the number of remaining suitors.

For more details on Dow attracts bids for styrene unit from buyout firms to a competing business, BASF to follow click here

Bright prospects for PVC demand in global construction sector in 2010

As housing starts begin to pick up after the recession, the future of polyvinyl chloride (PVC) in global construction looks brighter heading into 2010, according to ChemSystems. High consumption growtth in populous nations such as China and India will make Asia the major driver of global PVC consumption growth.

For more details on Bright prospects for PVC demand in global construction sector in 2010 click here

Crude dips in Asia as doubts on global oil demand recovery persist amid weaker regional equities

Light, sweet crude futures for March dipped to US$72.7, while Brent crude on ICE Futures exchange dipped to US$71.2. Prices have dipped marginally on the first day of the week as prices have been weigghed by persistent doubts over global oil demand recovery amid weaker regional equities at a time when the dollar is strengthening as concerns emerge over China’s monetary policy and banking regulations in USA.

For more details on Crude dips in Asia as doubts on global oil demand recovery persist amid weaker regional equities click here

Polystyrene market outlook weakening in China

In China, the prevailing sentiment in the PS market is getting weaker ahead of the approaching Chinese New Year holiday, as per Chemorbis. More buyers show strong resistance towards higher import offeer levels, gaining support from softer upstream markets.

For more details on Polystyrene market outlook weakening in China click here

Offers for February PP in Italy post three digit increases

Following the €50-100/ton increases that materialized in January, sellers are now asking for new hikes of €100-120/ton for February gaining support from the monthly propylene contract settlement, as pper Chemorbis.

For more details on Offers for February PP in Italy post three digit increases click here

Buyers in Egypt caught unawares with large increase in PE offers

Buyers in Egypt have been caught unawares this week at the large increases seen in PE offers for February despite the fact that prices have started to catch up with the Asian market after lagging behiind levels that would have created a balanced market, as per Chemorbis.

For more details on Buyers in Egypt caught unawares with large increase in PE offers click here

Saudi Aramco plans to invest around US$120 bln over the next 5-6 years

A investment of almost US$120 bln has been planned by state owned Saudi Aramco over the next 5-6 years to develop projects in the oil and petrochemicals sector. Around US$60 bln is planned to be spentt by the oil sector, while the remaining investement would be for the development of petrochemcial projects and foreign investment.

For more details on Saudi Aramco plans to invest around US$120 bln over the next 5-6 years click here

PIC plans to build an olefins complex at US$3 bln

Kuwait's state-run Petrochemical Industries Co (PIC) plans to build a US$3 bln olefins complex – its third. The initial study phase has been initiated and is scheduled for completion by February 2010..

For more details on PIC plans to build an olefins complex at US$3 bln click here

Dow still hoping for 2011 startup: Environmental standards defended

Despite facing suspension after a recent court order, Dow’s Thai unit planned in Map Ta Phut, remains optimistic that its second-phase chemical plant can begin operating in 2011 as scheduled. Dow Cheemical Thailand Co has four projects, part of a total US$3 bln petrochemical investment.

For more details on Dow still hoping for 2011 startup: Environmental standards defended click here

Self-healing polymer “starfish” maintain physical properties of engine oils for longer

Engine efficiency will increase with the introduction of self healing polymers that are suitable to add to lubricants as they could maintain the physical properties of engine oils for longer.
Polymeers are often added to automotive oils to control important physical properties such as viscosity but mechanical and thermal stress can break the polymers decreasing the efficiency and how they affect the oils properties.

For more details on Self-healing polymer “starfish” maintain physical properties of engine oils for longer click here