Styron regains ownership of Dow’s 50% stake in the Sumitomo Dow polycarbonate JV

Styron has reclaimed a position in Asia by assuming ownership of Dow Chemical Co.’s 50 percent stake in the Sumitomo Dow Ltd. polycarbonate joint venture.
Earlier this month, Midland, Mich.-based Doww had sold its half of the LG Dow Polycarbonate Ltd.

For more details on Styron regains ownership of Dow’s 50% stake in the Sumitomo Dow polycarbonate JV click here

US$5 bln Ethylene XXI project in Mexico moves towards a 2015 start-up

Braskem and Grupo Idesa's $2.5bn Ethylene XXI project in Mexico is moving forward for a 2015 start-up, with PEMEX on the sidelines for now as per ICIS. The project, also known as Braskem Idesa was lauunched in April, with Braskem holding a 65% stake and Idesa 35%.

For more details on US$5 bln Ethylene XXI project in Mexico moves towards a 2015 start-up click here

Polypropylene overmold or stand-alone TPEs for automotive applications

Its newest line of polypropylene overmold or stand-alone TPEs (thermoplastic elastomers) has been introduced by Polymax Elastomer Technology Co. Ltd. The product is currently in use on Toyota automobiile seat belt housings and in several other automotive applications.

For more details on Polypropylene overmold or stand-alone TPEs for automotive applications click here

Saudi Ports Authority inks deal to rent Imdad Company storage for SABIC’s solid, liquid petrochemicals

The Saudi Ports Authority (SPA) has inked a contract under which it will rent Imdad Company a piece of land of 396,000 square meters inside the King Fahd Industrial Port (KFIP) in Yanbu to construct wwarehouses and giant tanks to store solid and liquid petrochemicals produced by SABIC.

For more details on Saudi Ports Authority inks deal to rent Imdad Company storage for SABIC’s solid, liquid petrochemicals click here

Low domestic demand in UK chemicals industry likely to slow growth into 2011

The UK chemicals industry is burdened by low domestic demand which is likely to experience slow growth in 2010 into 2011, according to BMI’s latest report.
Much of the growth seen in Q4-09 and into 2010 was related to inventory rebuilding rather than any return to trend growth.

For more details on Low domestic demand in UK chemicals industry likely to slow growth into 2011 click here

Croatian Dioki submits bid to buy Vinyls Italia sites

Croatian petrochemical producer Dioki has submitted a bid before the October 22 deadline to buy the Ravenna and Porto Torres sites of Eni-owned Vinyls Italia, as per Platts.
Vinyls Italia, formerly belonging to UK-based Ineos, went into receivership in May 2009, forcing the closure of production facilities for polyvinyl chloride and other related products in Ravenna, Porto Maghera and Porto Torres, all in Italy.

For more details on Croatian Dioki submits bid to buy Vinyls Italia sites click here

Tight local supplies push Italian PVC buyers to import market

The euro has maintained its strength against the US dollar over the month of October, with the exchange rate parity hovering above 1.38 since the first half of the month. As per Chemorbis, the rising euro/USD parity has attracted more import PVC cargoes to Europe this month as the USD based offers are lower in value in euro terms, contributing to the competitive power of these non-European PVC cargoes.

For more details on Tight local supplies push Italian PVC buyers to import market click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended October 25, 2010

CRUDE OIL
Crude oil prices have moved up to end the week of October 25, 2010 at US$81.7 on the Nymex while Brent crude for December traded at US$83.4 on tthe ICE Futures Europe exchange.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended October 25, 2010 click here

Growing use of renewable raw materials, thermoplastics, nanostructured composites by Arkema

Arkema has turned ecotechnologies into reality with increasingly efficient materials that are key to the competitiveness of its downstream markets: the growing use of renewable raw materials, thermopllastics and nanostructured composites for lighter cars and aircraft, as well as solutions for storing energy and improving the yield of solar photovoltaic devices.

For more details on Growing use of renewable raw materials, thermoplastics, nanostructured composites by Arkema click here

Global petrochemical industry witnesses 8% growth, GCC contributes 12%

The global petrochemical industry has witnessed an eight per cent growth in the last one year with the GCC region contributing 12%, as reported by Gulf daily news. Gulf Petrochemical and Chemicals Asssociation (GPCA) supply chain committee chairman said it is estimated this would increase by 17 to 20% in the next five years.

For more details on Global petrochemical industry witnesses 8% growth, GCC contributes 12% click here

South Korea’s September petrochem exports grew by 7.42% yoy, rise to continue in October

South Korea’s petrochemical exports in September grew by 7.42% year on year to US$2.75 bln, with a further rise expected in October as a result of higher product prices and low base-year figures as peer ICIS.

For more details on South Korea’s September petrochem exports grew by 7.42% yoy, rise to continue in October click here

New polyethylene resins to address expanding cable performance requirements

With increasing demand for power cables that reduce voltage loss and communication cables that improve data transfer, LyondellBasell is introducing several new low and high density polyethylene gradess that outperform industry standards used in cable applications.

For more details on New polyethylene resins to address expanding cable performance requirements click here

Jam Petrochemical partially restarts Assaluyeh cracker, resumes PE exports

Iran’s Jam Petrochemical has partially restarted its Assaluyeh cracker complex and has resumed exports of polyethylene (PE), following a 24 day maintenance shutdown, as per ICIS. The second cracker iss still under maintenance and is expected to restart by end of month.

For more details on Jam Petrochemical partially restarts Assaluyeh cracker, resumes PE exports click here

Dollar strengthens, US crude inventories spike, oil plunges

US crude for delivery in December has plummeted to US$80.94 a barrel, while Brent North Sea crude for December dipped to US$82.22. The US dollar has strengthened and a recent report of a spike in US ccrude stockpiles indicating weakening energy demand has tanked oil prices.

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Ruco highlights special-purpose and high-performance inks

Ruco Druckfarben will showcase its dedicated printing ink ranges for pad and screen printing, label printing, printing on bottles (both plastic and glass), and CD manufacture.
Product highlights at KK will include series 920UV inks suited to high printing speeds, even under extreme ambient conditions; “Brilliant Silver” series 110ZS ink, which can be used an alternative to expensive embossing, claims Ruco; and series 945UV inks, claimed to provide a high gloss, high opacity, and “outstanding” performance in terms of flow and printability at production rates around 5000 pieces/hour.

For more details on Ruco highlights special-purpose and high-performance inks click here

Sumitomo Demag rationalises moulding machine offering

After two years of joint planning between its German and Japanese teams, Sumitomo Demag – “SHID” – is implementing a platform strategy to define the future development of all-electric, hybrid and hydrraulic injection moulding machines.

For more details on Sumitomo Demag rationalises moulding machine offering click here

SABIC continues to invest in global capacity expansion, adds new technology resources

To meet customers’ requirements, SABIC continues to invest in the expansion of global production capacity and to add new technology resources in key sectors.
• SABIC’s Expanded Capacity – In 2009, thhe company added more than I mln tons of polymer capacity at its plants in Sharq and Yansab in Saudi Arabia; expanded bi-model high-density polyethylene (HDPE) production in Germany; and opened a new low-density polyethylene (LDPE) facility in the United Kingdom (U.

For more details on SABIC continues to invest in global capacity expansion, adds new technology resources click here

Clariant’s “Power Your Performance” commitment to the plastics sector at K 2010

A new dedicated brand of masterbatches and compounds for the medical and pharmaceutical sector, capacity expansion of safer, more environmentally-compatible flame retardants, and the launch of efficieency-boosting processing agents, are among the highlights of Clariant’s “Power Your Performance” commitment to the plastics sector at K 2010.

For more details on Clariant’s “Power Your Performance” commitment to the plastics sector at K 2010 click here

Polypropylene prices for November higher to Asia, Turkey

November PP prices have been announced higher to Asia, Turkey. The increases came despite fluctuating crude oil prices, hesitant demand in China as a result of the Chinese Central Bank’s recent decisiion to raise interest rates, along with the lower spot propylene costs, which have been posting gradual decreases since the middle of October in Asia (total decrease of US$55/ton since then), as per Chemorbis.

For more details on Polypropylene prices for November higher to Asia, Turkey click here

Revenue from plastic closures in Europe to rise to over € 2 bln pa

Ceresana Research expects to see continuous growth at an average rate of 2.3% pa until 2017. Revenue from plastic closures in Europe will consequently increase from €1.7 bln to more than €2 bln pa. Thhe selection of caps and closures is not usually straightforward, and new varieties of push-pull, twist-top, snip-tip, toggle-swing are constantly being developed.

For more details on Revenue from plastic closures in Europe to rise to over € 2 bln pa click here

Asia naphtha margin falls on speculation that Japan could reduce tax breaks on naphtha cargoes

Naphtha margins in Asia fell to US$130.70/ton; the lowest in at least two weeks on speculation that Japan may recommend reducing tax breaks on naphtha cargoes, as per Bloomberg. Japan is one of the biiggest importers of the fuel in Asia.

For more details on Asia naphtha margin falls on speculation that Japan could reduce tax breaks on naphtha cargoes click here

Rajoo Engineers collaborates with Italian pipe/profile extruder supplier and German film extruder technology supplier

Rajoo Engineers Ltd. has announced collaborative agreements with Italian pipe/profile extruder supplier Bausano & Figli S.p.a (Rivarolo Canavese) and German film extruder technology supplier Hosokawa Alpine Aktiengesellschaft (Augsburg).

For more details on Rajoo Engineers collaborates with Italian pipe/profile extruder supplier and German film extruder technology supplier click here

Regulatory officials approve a merger of Tri Polyta Indonesia and Chandra Asri

Tri Polyta Indonesia and Chandra Asri will merge, will adopt the name Chandra Asri Petrochemicalas. Regulatory officials have approved this merger of Tri Polyta Indonesia and Chandra Asri. The KPPU hhad agreed that the company resulting from the merger would not be subject to KPPU regulations.

For more details on Regulatory officials approve a merger of Tri Polyta Indonesia and Chandra Asri click here

ADIB to provide financing of US$935 mln for Borouge 3 project for Hyundai

Abu Dhabi Islamic Bank (ADIB) is to provide financing facilities to Hyundai Engineering & Construction Co., Ltd. (HDEC) for the newly awarded Borouge 3 expansion project. The expansion will more than double Borouge's production capacity to over 4.

For more details on ADIB to provide financing of US$935 mln for Borouge 3 project for Hyundai click here

Petrologistics commences propylene production at Texas, plant to run at capacity within 30 days

Petrologistics has commenced production at its 544,000 tpa propylene plant in Houston, with production expected to run at capacity within 30 days, as per ICIS. The one of its kind facility in USA willl produce chemical (CGP) and polymer-grade propylene (PGP) through propane dehydrogenation (PDH).

For more details on Petrologistics commences propylene production at Texas, plant to run at capacity within 30 days click here

Saudi acclaims India's steps to freeze anti-dumping duties

Saudi Arabia has praised steps taken by India's Commerce Ministry, that have led to the agreement between the two sides on freezing the anti-dumping duties on imports of polypropylene. The step is a pprelude to its final settlement, and comes within the framework of the policy pursued by the Saudi government for the protection of the country's industry based on the distinguished relations it shares with other countries.

For more details on Saudi acclaims India's steps to freeze anti-dumping duties click here

Full operations resume at Rabigh Refining

Rabigh Refining & Petrochemical Co. said its refining plants resumed full operations today and petrochemical production plants are being lined-up for start-up operations. Operations were affected by aan interruption of power supply.

For more details on Full operations resume at Rabigh Refining click here

Solvay and Mitsubishi to collaborate for high temperature bio-polymers

Solvay Advanced Polymers and Mitsubishi Gas Chemical Co. (MGC) plan to collaborate on the development of renewably-sourced high temperature specialty polymers using a new monomer from Mitsubishi. The joint work is initially focused on the introduction of high-temperature bio-based polyamides for high-performance durable applications.

For more details on Solvay and Mitsubishi to collaborate for high temperature bio-polymers click here

Crude oil sees marginal dip on speculation of inventory rise in US on slowing fuel demand

Oil for December delivery dropped to US$81.8 in electronic trading on the New York Mercantile Exchange while Brent crude for December traded at US$83.4 on the ICE Futures Europe exchange in London. Prrices have dropped on speculation that slowing fuel demand will lead to a rise in inventories in USA.

For more details on Crude oil sees marginal dip on speculation of inventory rise in US on slowing fuel demand click here

Eastman Chemical to sell PET business and related assets for US$600 mln

Eastman Chemical Co. has agreed to sell its polyethylene terephthalate (PET) business and related assets of its performance polymers unit to DAK Americas LLC for about US$600 million in cash. Since Appril, Eastman has sold off parts of it, and has been considering strategic alternatives, including a possible sale of the rest of the unit on which the company has been losing money over the past several years.

For more details on Eastman Chemical to sell PET business and related assets for US$600 mln click here

Qapco, Qatofin ink logistic services agreement for handling and warehousing in China

Within the framework of strengthening its solid presence in China, Qatar Petrochemical Co. (Qapco), Qatofin have signed a logistic services agreement with Kerry Talke Chemical Logistics (Shanghai) Limmited for Qapco's and Qatofin's Products handling and warehousing in China.

For more details on Qapco, Qatofin ink logistic services agreement for handling and warehousing in China click here

Ethylene falls in Asia, gains ground in Europe, USA

Last week, spot ethylene prices in Asia moved lower in response to rising supply levels in the region, while spot ethylene prices in Europe and USA gained ground on the strength of improved spot demannd, as per Chemorbis.

For more details on Ethylene falls in Asia, gains ground in Europe, USA click here

Qatar’s Tasweeq sells 200,000 tons of naphtha for November loading at premiums

Qatar’s Tasweeq sold about 200,000 tons of naphtha for November loading to several buyers at US$15-16/ton above Middle East quotes on a free-on-board (FOB) basis. As per Reuters, buyers include Vitol and Itochu.

For more details on Qatar’s Tasweeq sells 200,000 tons of naphtha for November loading at premiums click here

US recycling rate for post-consumer polyethylene terephthalate is 28% in 2009

The US recycling rate for post-consumer polyethylene terephthalate (PET) is 28% in 2009, marking the sixth straight year that the nation’s recycling rate has increased, despite a four percent decreasee in the availability of PET containers, by weight, according to a new report.

For more details on US recycling rate for post-consumer polyethylene terephthalate is 28% in 2009 click here

Increasing demand will drive growth for plastic packaging in Southern Africa

Increasing demand from the emerging middle class and the growing food and beverage sectors will drive growth for plastic packaging in Southern Africa, according to a report from Frost & Sullivan. Growwing affluence among the region’s population has significantly spurred growth in the plastics packaging sector, said the research from the market analysts.

For more details on Increasing demand will drive growth for plastic packaging in Southern Africa click here

EPCL seeks permission for nil rates to import ethylene for EDC and VCM production

Pakistan’s Engro Polymer and Chemicals Limited (EPCL) is seeking permission to import ethylene at zero rate for production of Vinyl Chloride Monomer (VCM), Ethylene Dichloride (EDC). EPCL has recentlyy undergone expansion/back integration at an investment outlay of US$260 mln, as per Business Recorder.

For more details on EPCL seeks permission for nil rates to import ethylene for EDC and VCM production click here

Middle East diverts cargoes to Europe: naphtha premiums rise

Naphtha premiums in the Middle East have risen this week after cargoes were diverted to Europe. Currently, Europe is faced with a widespread refinery and port strike in France that has exhausted suppllies in the region.

For more details on Middle East diverts cargoes to Europe: naphtha premiums rise click here

Hubei Biocause Pharmaceutical to invest in propylene production

Hubei Biocause Pharmaceutical plans to to invest 301.96 mln yuan in propylene production, which uses the process of catalytic cracking of C4 olefin. About 200.02 mln yuan will be earmarked for construuction costs and 101.

For more details on Hubei Biocause Pharmaceutical to invest in propylene production click here

A technique to permanently bind antibacterial coatings to polymer layer eliminates biofilm in medical devices

Researchers at the University of South Australia are working on making medical devices safer by developing a technique that will permanently bind antibacterial coatings to a polymer layer, thus prevennting biofilms.

For more details on A technique to permanently bind antibacterial coatings to polymer layer eliminates biofilm in medical devices click here

A technique to permanently bind antibacterial coatings to polymer layer eliminates biofilm in medical devices

Researchers at the University of South Australia are working on making medical devices safer by developing a technique that will permanently bind antibacterial coatings to a polymer layer, thus prevennting biofilms.

For more details on A technique to permanently bind antibacterial coatings to polymer layer eliminates biofilm in medical devices click here

BASF plans new production facility for customer specific antioxidant blends in Bahrain

BASF has announced plans to build a production facility for customer specific antioxidant blends (CSB) in Bahrain. The new CSB plant will come in addition to the existing tolling agreement for CSB witth Astra Polymer in the Kingdom of Saudi-Arabia, which is mainly supplying local customers.

For more details on BASF plans new production facility for customer specific antioxidant blends in Bahrain click here

Canadian Association calls for 5 year extension of ACCA for new machinery and equipment

Members of Chemistry Industry Association of Canada are calling for a 5 year extension of the accelerated capital cost allowance (ACCA) for new machinery and equipment. The ACCA was first introduced iin the 2007 federal budget.

For more details on Canadian Association calls for 5 year extension of ACCA for new machinery and equipment click here

Air Products completes further expansion of Asia Technology Center in China

Air Products has recently completed further expansion of its state-of-the-art Asia Technology Center in the Zhangjiang Hi-Tech Park in Shanghai, China. The expansion will accelerate development of inddustrial gas applications and solutions for general industries, as well as the electronics industry, to support increasing demands in these high growth markets in China and across Asia.

For more details on Air Products completes further expansion of Asia Technology Center in China click here

Zhejiang Shaoxing Sanyuan to start up new PP line by year endZhejiang Shaoxing Sanyuan to start up new PP line by year end

China's Zhejiang Shaoxing Sanyuan Petrochemical plans to start up a new 300,000 tpa polypropylene line at its plant at Shaoxing, in Zhejiang province, by end 2010, as per Platts. This will boost totall PP capacity at Sanyuan to 540,000 tpa.

For more details on Zhejiang Shaoxing Sanyuan to start up new PP line by year end click here

Honam Petrochemical studying plans to build ethylene plant in Indonesia

South Korea's Honam Petrochemical Corp is studying plans to build a 450,000 tpa ethylene plant in Indonesia in 2010, at an estimated cost of US$500 mln. Honam is expected to visit Indonesia to conducct due diligence studies later this month.

For more details on Honam Petrochemical studying plans to build ethylene plant in Indonesia click here

November PVC concluded deals in China near initial offer levels

In line with sellers’ earlier hike targets, November PVC offers were announced with monthly increases to China this week, as per Chemorbis. A major Taiwanese producer is now seeking a ten dollar increease from October offer levels for November allocation, while new offers from other overseas producers are standing US$10-30/ton above their most recent done deals for October.

For more details on November PVC concluded deals in China near initial offer levels click here

Growing imports, low domestic demand lead to polymer price reductions in India

Indian polymer producers have announced price reductions in polypropylene (PP) and polyethylene (PE), as imports grow amid low domestic demand. Demand is low because during the festive season of Diwalli, converters run plants at reduced capacity.

For more details on Growing imports, low domestic demand lead to polymer price reductions in India click here

Higher prices in the short term to positively impact Brazil’s petrochem sector where export is more than import

The petrochemicals market is at a low growth stage right now, but in the medium to long term, the market will see increased growth. As per Frost and Sullivan, in 2010, its value was US$31.48 biln, refflecting higher prices for petrochemical products -considerably higher than the prices in 2008 and beginning of 2009.

For more details on Higher prices in the short term to positively impact Brazil’s petrochem sector where export is more than import click here

Sustainable resins for E/E applications provide advanced FR, excellent performance

Three new sustainable resins have been added to its Valox* ENH resin series that delivers advanced flame retardance (FR) together with outstanding mechanical and electrical performance to the electriccal and electronics (E/E) industry by SABIC Innovative Plastics.

For more details on Sustainable resins for E/E applications provide advanced FR, excellent performance click here

500,000 on protest strike in France: threat of higher oil prices looms in Europe

About a 500,000 people are on strike across France to protest draft legislation in parliament aimed at raising the retirement age from 60 to 62. This strike is in addition to the ongoing strike by oill refinery workers opposed to the pension reforms that is contributing to fuel shortages across the country.

For more details on 500,000 on protest strike in France: threat of higher oil prices looms in Europe click here

500,000 on protest strike in France: threat of higher oil prices looms in Europe

About a 500,000 people are on strike across France to protest draft legislation in parliament aimed at raising the retirement age from 60 to 62. This strike is in addition to the ongoing strike by oill refinery workers opposed to the pension reforms that is contributing to fuel shortages across the country.

For more details on 500,000 on protest strike in France: threat of higher oil prices looms in Europe click here

Clariant continues to strengthen presence in Greater China

Swiss specialty chemicals company Clariant continues to strengthen its presence in Greater China with the official opening of its new Greater China headquarters in Shanghai. The new facility also inclludes a new technical application center for pigments.

For more details on Clariant continues to strengthen presence in Greater China click here

A material for very lightweight and stiff car roofs with excellent thermal insulating properties

A material for very lightweight and stiff car roofs with excellent thermal insulating properties has been developed by polyurethanes experts at Bayer MaterialScience. This was made possible by the Bayypreg and Multitec polyurethane systems from BaySystems, the company's global polyurethane business.

For more details on A material for very lightweight and stiff car roofs with excellent thermal insulating properties click here

Dow to Set Up Supply Chain Center in Belfast

The Dow Chemical Co. has announced plans to establish a Dow Design & Modify Supply Chain (D&MSC) center in Belfast, Northern Ireland. The center will help to ensure that the Company's supply chain is optimally designed to respond to emerging social and economic trends and customer needs around the globe.

For more details on Dow to Set Up Supply Chain Center in Belfast click here

Reliance to shut CDU at 660,000 bpd refinery in November

Reliance Industries is to shut a crude distillation unit (CDU) for scheduled maintenance at its 660,000 bpd for around a month starting November, as per Reuters. The older 660,000 bpd plant houses twoo 330,000 bpd CDUs, processing products for the domestic market.

For more details on Reliance to shut CDU at 660,000 bpd refinery in November click here

Saudi Aramco sales premiums point to strong recovery in export prices

Saudi Aramco sold 50,000 tons of A180 naphtha for early November loading from Ras Tanura almost US$16-17/ton above Middle East quotes, free on board (FOB) basis, pointing to a strong recovery of exporrt prices to high premiums, as per Reuters.

For more details on Saudi Aramco sales premiums point to strong recovery in export prices click here

Asia naphtha cracks ease for H2 as demand slows for November

Asian naphtha prices recovered, while cracks eased as demand for H2-November cargoes tailed off, as per Reuters. Demand from South Korea for November cargoes is almost over – this is making the marketts weaker as sellers still have cargoes.

For more details on Asia naphtha cracks ease for H2 as demand slows for November click here

Environment friendly process to transform natural gas into chemicals for large-scale production

San Francisco start-up Siluria Technologies has secured funding to commercialize its process to transform natural gas into chemicals and materials for large-scale production – with far less an environnmental impact than oil.

For more details on Environment friendly process to transform natural gas into chemicals for large-scale production click here

Profits from ethylene may be capped in Asia in 2011 as production rises in China

As ethylene production in China jumped to the highest level in 8 months, profit from making ethylene may drop to US$100/MT in Asia in 2011, as per Bloomberg. Profits are expected to be capped by Januaary, as new plants in Asia ramp up utilization rates.

For more details on Profits from ethylene may be capped in Asia in 2011 as production rises in China click here

Foster Wheeler USA Corp awarded PMC contract for PE plant in Egypt

Foster Wheeler USA Corporation, part of its Global Engineering and Construction Group, has been awarded a project management consultancy (PMC) contract by Carbon Holdings for a petrochemical complex iin Ain Sokhna, Egypt with a nameplate capacity to produce 1.

For more details on Foster Wheeler USA Corp awarded PMC contract for PE plant in Egypt click here

Corrosion protection coatings for steel pipes in hostile environments

The global requirement for oil, gas and water is driving pipelines into more hostile situations. At the same time many pipes are reaching the end of their service life and need replacing, increasing gglobal demand for long-lifespan products.

For more details on Corrosion protection coatings for steel pipes in hostile environments click here

PP players in Mediterranean expect firmer Nov prices from Middle East

The import PP markets in Turkey and Egypt, where Middle Eastern producers are the main supply sources, have been witnessing firmer sentiments recently, as per Chemorbis. Following the recent upsurge iin Asian PP markets, players in Turkey and Egypt, are now predicting that import prices from that region will be revealed with increases next month.

For more details on PP players in Mediterranean expect firmer Nov prices from Middle East click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended October 18, 2010

CRUDE OIL
Crude oil ended the week of October 18, 2010, lower than the past week. Crude for November delivery fell by almost one and a half dollar to UUS$81.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended October 18, 2010 click here

PVC offers meeting with significantly better demand in Southeast Asia

PVC sellers in Southeast Asia report that their offers are meeting with significantly better demand this month when compared with the past month. As per Chemorbis, the buyers (converters) commented tthat they have become more active in the market this month as they have been seeing normal demand for end products and have needed to replenish their raw material stocks accordingly.

For more details on PVC offers meeting with significantly better demand in Southeast Asia click here

PVC offers meeting with significantly better demand in Southeast Asia

PVC sellers in Southeast Asia report that their offers are meeting with significantly better demand this month when compared with the past month. As per Chemorbis, the buyers (converters) commented tthat they have become more active in the market this month as they have been seeing normal demand for end products and have needed to replenish their raw material stocks accordingly.

For more details on PVC offers meeting with significantly better demand in Southeast Asia click here

Importers of petrochemicals from Iran find ways around L/C problem

Importers of petrochemicals from Iran have resorted to using bank cheques, direct remittance to accounts, escrow accounts and "hawala" transactions used in the Indian subcontinent, to get past the prooblem of banks delaying or declining to honour letters of credit from Iran, as per Platts.

For more details on Importers of petrochemicals from Iran find ways around L/C problem click here

Indian Govt embarks on investigations into alleged PP dumping

The Indian government has initiated investigations on a petition to impose anti-dumping duty on polypropylene imports from Korea, Taiwan and the US. Investigations have been initiated on a complaint bby major domestic producers made in February who had complained in 2009 on polypropylene imports from Oman, Saudi Arabia and Singapore.

For more details on Indian Govt embarks on investigations into alleged PP dumping click here

Expansion underway at Total Petrochemicals’ PS capacity in China

Total Petrochemicals plans to expand capacity to over 200,000 tpa at its polystyrene plant in China’s Guangdong province, as per Plasticsnews. The new capacity at the Foshan factory will come on-streaam at the end of 2010, and will let the company almost double its sales from the facility since 2008.

For more details on Expansion underway at Total Petrochemicals’ PS capacity in China click here

Slovnaft AS mulls investment in petrochemical plant

Slovnaft AS, the Slovak unit of Hungarian refiner Mol Nyrt., plans to invest in a new petrochemical plant for products with higher added value, as per Bloomberg. Mol executives will take a decision inn the coming months.

For more details on Slovnaft AS mulls investment in petrochemical plant click here

US demand for caps and closures to reach $9.5 billion in 2014

US demand for caps and closures is forecast to increase 4% pa to US$9.5 bln in 2014, reaching 275 billion units. Advances will be aided by greater use of more expensive dispensing closures and child--resistant closures (CRCs).

For more details on US demand for caps and closures to reach $9.5 billion in 2014 click here

Toray Plastics debuts advanced compostable bio-based filnms

Toray Plastics (America) Inc., leading manufacturer of precision-performance polyester and polypropylene films, has introduced new Ecodear® advanced compostable bio-based films, made with polylactic aacid (PLA) resin.

For more details on Toray Plastics debuts advanced compostable bio-based filnms click here

Gujarat government puts Dahej PCPIR on fast track

The Gujarat government has decided to put the Petroleum, Chemical and Petrochemical Investment Region (PCPIR) at Dahej on the fast track, advancing date to achieve US$20 bln investments from 2020 to 22015.

For more details on Gujarat government puts Dahej PCPIR on fast track click here

Samsung Engineering and Linde awarded construction deal for Saudi-based acrylic acid complex

A consortium of South Korea's Samsung Engineering Company and Germany's Linde has been awarded an EPC contract for an acrylic acid complex in Saudi Arabia. The complex is to be built at an estimated ccost SR4 bln (US$1.

For more details on Samsung Engineering and Linde awarded construction deal for Saudi-based acrylic acid complex click here

Dollar strengthens, crude oil dips to lowest level in two weeks

Crude for November delivery fell by almost one and a half dollar to US$81.2 on the Nymex. Brent crude for December dipped to US$82.4 on the ICE Futures Europe exchange in London. Crude oil prices havee tanked to their lowest level in two weeks as the dollar strengthens.

For more details on Dollar strengthens, crude oil dips to lowest level in two weeks click here

Firming trend maintained in global polystyrene markets

Polystyrene prices continued with their firm trend in global markets including China, Southeast Asia, Turkey and Egypt, as per Chemorbis. Offers have been supported by strong upstream costs, as oil hoovers around US$80/bbl threshold and styrene costs recorded over US$50/ton increases since the start of the month to stand at US$1275/ton on FOB Korea basis.

For more details on Firming trend maintained in global polystyrene markets click here

Driven by starch based polymers, global biopolymer market to grow at 27.3% to 2015

The global biopolymers market is set to witness a robust growth due to the increasing concern about environment. The biopolymers market is on a growth track because of the awareness of people towards greener products and significant decline in the prices.

For more details on Driven by starch based polymers, global biopolymer market to grow at 27.3% to 2015 click here

Strike at Fos-Lavera oil port enters 19th day, Ineos declares FM on ethylene oxide delivery

As the strike at Fos-Lavera oil port enters its 19th day, British petrochemical company Ineos has declared force majeure on ethylene oxide from its Lavera refinery near the port. The Lavera refinery wwas not completely shut but it was still running at a reduced rate.

For more details on Strike at Fos-Lavera oil port enters 19th day, Ineos declares FM on ethylene oxide delivery click here

Idemitsu Kosan renews commitment in proposed refining and petrochemical JV with Kuwait and Vietnam

Contrary to recent reports, Japan’s leading refiner Idemitsu Kosan has renewed its commitment to actively engage in a proposed refining and petrochemical joint venture with Kuwait and Vietnam yesterdaay.

For more details on Idemitsu Kosan renews commitment in proposed refining and petrochemical JV with Kuwait and Vietnam click here

Force majeure refuted by Kuwait Paraxylene

The Kuwait Paraxylene Production Company has denied talk that it has declared force majeure on its benzene and paraxylene supplies to customers on production issues, as per Platts. Operations are saidd to be normal as KPPC's aromatics complex is running at 100% nameplate capacity of 830,000 tpa paraxylene and 390,000 tpa benzene.

For more details on Force majeure refuted by Kuwait Paraxylene click here

Strong demand for LDPE from buyers in Southeast Asia

In Southeast Asia, traders and converters are actively searching the market for LDPE film cargoes this week, with buyers attributing rising LDPE demand to tight supplies within the region as well as tthe ongoing price increases being witnessed in Asian markets, as per Chemorbis.

For more details on Strong demand for LDPE from buyers in Southeast Asia click here

On time restart for Idemitsu Kosan Co’s naphtha cracker at Tokuyama

Idemitsu Kosan Co has restarted, on time, a naphtha cracker at its Tokuyama plant in as per schedule on Oct. 6, after planned maintenance. As per Reuters, the 256,000 tpa naphtha cracker was shut on Sept.

For more details on On time restart for Idemitsu Kosan Co’s naphtha cracker at Tokuyama click here

Nippon Oil to restart 150,000 bpd No.4 crude distillation unit at Negishi refinery

Nippon Oil & Energy Corp plans to restart the 150,000 bpd No.4 crude distillation unit at its Negishi refinery. As per Reuters, the unit has been shut for planned maintenance from Sept. 19, with restaart planned for Oct.

For more details on Nippon Oil to restart 150,000 bpd No.4 crude distillation unit at Negishi refinery click here

55,000 tons of Saudi naphtha West-bound

About 55,000 tons of naphtha is sailing to the West this week from Saudi Arabia. Last week saw 350,000 tons shipped to Europe in July to ease a glut caused by negligible demand from Asia, as per Reuteers.

For more details on 55,000 tons of Saudi naphtha West-bound click here

Yunlin County asks for debate on on the environmental hazards at Mailiao complex

The 40th supervisory committee meeting on the No. 6 naphtha cracker ended in deadlock as the County Commissioner called for an open debate with Formosa Plastics Group (FPG) on the environmental hazardds reportedly caused by the plant since its establishment in 1991.

For more details on Yunlin County asks for debate on on the environmental hazards at Mailiao complex click here

Solvay to expand compounding capacity for specialty polymers in China

Solvay plans to build a specialty polymers compounding plant at its site in Changshu, China. Start-up of the plant, requiring investment of €21 miln is expected in Q4-2012. The plant will satisfy the growing demand for specialty polymers in China and serve the fast growing markets in China for electronics, automotive, consumer and industrial applications and will initially start producing compounds of Amodel® polyphthalamide (PPA), xef® polyarylamide (PARA) and Kalix® (modified PARA).

For more details on Solvay to expand compounding capacity for specialty polymers in China click here

Discussions underway between GAIL and Sibur to set up joint polyolefins venture in Russia

GAIL is said to be in discussions with Russian petrochemicals giant Sibur to set up a joint polyolefins production venture in Russia, as per European Plastics News. No other details have been disclossed.

For more details on Discussions underway between GAIL and Sibur to set up joint polyolefins venture in Russia click here

Crude lingers above US$83

Light, sweet crude for November delivery recently traded at US$83.08 a barrel on the Nymex, after rising as high as $84.12 earlier in the session. Brent crude on the ICE futures exchange traded at US$$84.

For more details on Crude lingers above US$83 click here

Global biopolymers market to grow at a CAGR of 27.3% by volume from 2009 to 2015

The total global biopolymers market by volumes is set to grow at a CAGR of 27.3% from 2009 to 2015 to reach 2,680,590 tons. The global biopolymers market is set to witness robust growth due to the inccreasing concern about environment, as per a report by GBI Research.

For more details on Global biopolymers market to grow at a CAGR of 27.3% by volume from 2009 to 2015 click here

Domestic PVC market in Italy maintains upward run in October

After increases of €10-30/ton passed on September spot PVC deals, Italy's market started the month of October on a firm note, with sellers revealing their initial offers with rollovers to further incrreases of €15/ton, as per Chemorbis.

For more details on Domestic PVC market in Italy maintains upward run in October click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended October 11, 2010-10-13

CRUDE OIL
Crude oil prices ended the week of October 11, 2010 at US$82/barrel levels. Midweek, oil prices rose to near US$83 as investors anticipated actiion from the US Fed bank to bolster a weak economic recovery.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended October 11, 2010-10-13 click here

Strike in France hampers NWE polyethylene deliveries

Majority of French refineries and two major oil ports have decided to carry on with a strike against government plans to overhaul pensions. These strikes have hampered the export of polyethylene, as pper Platts.

For more details on Strike in France hampers NWE polyethylene deliveries click here

Materials for highly transparent two-component PU casting compounds for manufacture of LEDs developed

Raw materials for highly transparent two-component polyurethane casting compounds that can be used to manufacture lighting strips and other lighting elements with light-emitting diodes (LEDs) have beeen developed by Bayer MaterialScience.

For more details on Materials for highly transparent two-component PU casting compounds for manufacture of LEDs developed click here

Polymeric foams in USA to grow from 5.6 bln lbs in 2010 to 8.6 bln lbs in 2015

The US market for polymeric foams will amount to an estimated 5.6 bln lbs in 2010, expected to increase to nearly 8.6 bln lbs in 2015, for a 5-year compound annual growth rate (CAGR) of 2.5%, as per aa new technical market research report from BCC Research.

For more details on Polymeric foams in USA to grow from 5.6 bln lbs in 2010 to 8.6 bln lbs in 2015 click here

Metal, glass replaced with plastics in automobile applications in South Africa

Metal and glass are being replaced with plastics that offer increased benefits in automobile applications in the South African market, as per a report by Frost & Sullivan. Plastics are lightweight, innexpensive and can be blended and moulded for most automobile applications, making them far superior to metal and glass.

For more details on Metal, glass replaced with plastics in automobile applications in South Africa click here

Bio-PET for automotive interiors

Toyota Motor Corporation (TMC) plans to make vehicle liner material and other interior surfaces from a new bio-PET-based “Ecological Plastic”. Bio-PET consists of 70% terephthalic acid and 30% monoethhylene glycol, by weight.

For more details on Bio-PET for automotive interiors click here

Brazil's PP, PE domestic offers hiked by Reals 200/mt in October

Braskem hiked October polyethylene and polypropylene offer for the Brazilian domestic market at an increase of by Reals 200/mt, over September, as per Platts. Resin demand in the Brazilian domestic maarket is robust as historically September and October are strong demand months, when buying is at its peak for the end of the year festivities.

For more details on Brazil's PP, PE domestic offers hiked by Reals 200/mt in October click here

Economic recovery phase triggered polyolefin demand growth in H2-09

Polyolefin demand growth resumed during H2-2009 with the onset of the economic recovery phase. Emerging market economies and China, in particular, provided the main support for the renewed expansion iin the global polyolefins market as reflected in the dramatic increase of Chinese polyethylene and polypropylene imports that is now abating as per a report by CMAI.

For more details on Economic recovery phase triggered polyolefin demand growth in H2-09 click here

Crude oil falls for second day, hovers around US$82

Crude oil prices have fallen for the second consecutive day and is trading at levels around US$82. Oil prices have fallen for a second day in New York on speculation that US inventories increased to aa three-month high last week.

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PP price hikes in China post-holidays

At the start of this week, Chinese players who have started to return to their desks are faced with price hikes on homo-PP prices, which caused the sentiment in other global PP markets including Southheast Asia and Turkey to shift this week, as per Chemorbis.

For more details on PP price hikes in China post-holidays click here

Jaihind Projects awarded contracts for mechanical and pipe work by Brahmaputra Gas Cracker and Polymer

Jaihind Projects has secured Rs 94.38 crore orders from Brahmaputra Gas Cracker and Polymer for mechanical and pipe works for a petrochemical complex in Assam.
A Rs 56.10 crore order is for carryingg out mechanical and piping works for Ethylene cracker unit for Brahmaputra Petrochemical Complex of Brahmaputra Cracker and Polymer Ltd at Lepetkata, Assam, while another order worth Rs 38.

For more details on Jaihind Projects awarded contracts for mechanical and pipe work by Brahmaputra Gas Cracker and Polymer click here

Japanese ethylene production falls 12.1% in September 2010 vs September 2009

Japanese ethylene production has fallen by 12.1% to 557,100 tons in September 2010 vs 633,500 tons September 2009. This is partly due to the scheduled plant maintenance shutdown at a naphtha cracker. Output in September 2010 was down 7.

For more details on Japanese ethylene production falls 12.1% in September 2010 vs September 2009 click here

SABIC IP to add specialty PP compounding to its Bay St. Louis site

SABIC Innovative Plastics is to add state-of-the-art specialty polypropylene (PP) compounding to its Bay St. Louis, site in Q1-2011. The site will use its existing infrastructure and adopt new processses to produce SABIC PP compounds and SABIC STAMAX long glass fiber-reinforced PP composites.

For more details on SABIC IP to add specialty PP compounding to its Bay St. Louis site click here

Ineos licences Innovene S process to Russia's Rosneft

INEOS Technologies has licensed its Innovene S process for the manufacture of high-density polyethelene (HDPE) and linear low-density polyethylene (LLDPE) to Rosneft's 345,000 tpa Angarsk polymer plannt in Russia's East Siberian town, as per Platts.

For more details on Ineos licences Innovene S process to Russia's Rosneft click here

High-performance PVDF films for photovoltaic front-sheet applications

A new line of high-performance PVDF (polyvinylidene fluoride) films specifically designed for photovoltaic front-sheet applications, is now commercially available. Rowlar™ has been developed by applyiing Rowland Technologies' advanced film design and manufacturing capabilities to bring the outstanding performance characteristics of Kynar ® PVDF to the photovoltaic front-sheet market.

For more details on High-performance PVDF films for photovoltaic front-sheet applications click here

Linde on verge of signing US$800 mln deal on Saudi acrylic-acid project

World number two maker of industrial gases-Linde AG, is on the verge of securing a US$800 mln contract to help build a acrylic-acid project in Jubail, as per Bloomberg. The plant is a US$1.7 bln jointt venture between National Industrialization Co.

For more details on Linde on verge of signing US$800 mln deal on Saudi acrylic-acid project click here

More aggression by PTT to expand businesses in ASEAN countries

In a bid to capitalise on the single-market Asean Economic Community in 2015, Thailand’s PTT plans to move more aggressively in expanding its existing businesses in ASEAN countries. The AEC, with a poopulation of 580 million, promises huge investment and trade potential.

For more details on More aggression by PTT to expand businesses in ASEAN countries click here

Innovative development can process extra-large polycarbonate film formats

Extra-large polycarbonate film formats can now also be produced by the high-pressure forming (HPF) process thanks to an innovative development from Bayer MaterialScience and Niebling-Junior Kunststofffverarbeitung - Werkzeugbau e.

For more details on Innovative development can process extra-large polycarbonate film formats click here

PC/ASA resin blends for broad use in healthcare, consumer electronics, electrical applications

An expanded portfolio of Geloy* polycarbonate/acrylonitrile-styrene-acrylate (PC/ASA) resin blends that open new opportunities for key market sectors, has been introduced by SABIC IP. Originally deveeloped for the automotive industry to deliver improved mechanical performance and extreme weatherability, the high-performance Geloy blends now comprise a robust new offering with specialized grades for broad use in healthcare, consumer electronics and electrical applications.

For more details on PC/ASA resin blends for broad use in healthcare, consumer electronics, electrical applications click here

After rising to near US$83, marginal dip in oil prices as markets await OPEC meet

After rising to levels near US$83, oil prices have had a marginal dip as markets start focusing on this week’s OPEC meet in Vienna to discuss its latest output, production quotas and output compliancee issues.

For more details on After rising to near US$83, marginal dip in oil prices as markets await OPEC meet click here

China makes a firm return following the holiday

A day after the Chinese National Day holiday, most sellers in China elected to lift their offer levels for PP, PVC, PE and PS, pointing to the higher energy and futures market prices, as per Chemorbiss.

For more details on China makes a firm return following the holiday click here

Global revenues for polymeric nanocomposites in 2009 were US$223.15 mln

Global revenues for polymeric nanocomposites were approximately US$223.15 mln in 2009, impacting a diverse range of markets such as aerospace and aviation, automotive, food, pharmaceutical and electroonics packaging, electrical and electronic goods, sporting goods and medicine.

For more details on Global revenues for polymeric nanocomposites in 2009 were US$223.15 mln click here

Solvay to expand compounding capacity for specialty polymers in China

Solvay has announced an investment of €21 mln in a new capacity to satisfy surging demand in China, in a specialty polymers compounding plant at its site in Changshu in the province of Jiangsu, China..

For more details on Solvay to expand compounding capacity for specialty polymers in China click here

Naphtha crack turns positive in Europe for first time since March

European naphtha's crack (spread between naphtha and crude oil) turned positive for the first time since March, as per Reuters. Prices found some support from the 12 day strike at France's oil port Foos-Lavera, which could result in halting of operations in the region, shortly.

For more details on Naphtha crack turns positive in Europe for first time since March click here

Petrologistics to start propylene plant in Texas

Petrologistics - US propylene producer, is to begin feeding its new 500,000 tpa propane dehydrogenation unit in Houston, Texas as per Platts. Start up was originally planned for late August/early Septtember, but was deferred due to mechanical setbacks on at least two occasions.

For more details on Petrologistics to start propylene plant in Texas click here

Iran’s petrochem exports totaled 7.4 mln tons in H1 of Iranian Calendar year

Iran’s exports of petrochemical products has peaked to 7.4 mln tons to US$4 bln in H1 of the Iranian calendar year starting March 21. Petrochem exports included methanol, propane and butane, urea, ethhylene and sulfur to international market, to major trading partners China, Japan, Turkey and UAE.

For more details on Iran’s petrochem exports totaled 7.4 mln tons in H1 of Iranian Calendar year click here

LyondellBasell’s refining, petrochem units near Fos-Lavera oil terminal operating as planned

LyondellBasell Industries' 105,000 bpd Berre l'Etang refining and petrochemicals units, located in southern France near Fos-Lavera oil terminal, are operating as planned. Regarding demurrage costs forr LyondellBasell Industries’ tankers, a company spokesperson said shipment details cannot be discussed for safety and security reasons.

For more details on LyondellBasell’s refining, petrochem units near Fos-Lavera oil terminal operating as planned click here

Formosa Petrochem idles No. 2 naphtha cracker for planned maintenance

Formosa Petrochemical Corp has idled No. 2 naphtha cracker for planned maintenance. One of the Taiwanese majors’ other three crude distillation units, shut in late July following an outage, will restaart around mid-October.

For more details on Formosa Petrochem idles No. 2 naphtha cracker for planned maintenance click here

Honam Petrochemical and Mitsubishi Chemical to jointly build PP catalyst plant

South Korea’s Honam Petrochemical Corp. and Japan's Mitsubishi Chemical Corp. plan to build a polypropylene (PP) catalyst plant by the end of 2012. The plant to be built in Yeosu, will annually produuce 100 tons of catalysts for the production of polypropylene (PP).

For more details on Honam Petrochemical and Mitsubishi Chemical to jointly build PP catalyst plant click here

KPC concludes term deal for naphtha supplies lifting December ’10 to November ‘11

Kuwait Petroleum Corp (KPC) has concluded a term deal for naphtha supplies lifting December 2010 to November 2011, to customers including Japanese Mitsubishi Chemicals, Mitsui Chemicals, South Korea'ss YNCC, Hanwha, India's Haldia Petrochemicals and Taiwan's CPC.

For more details on KPC concludes term deal for naphtha supplies lifting December ’10 to November ‘11 click here

Lighter-weight, higher-performance, lower-cost, more environmentally-sustainable solution for slush molded interior soft skins

Demands of the automotive industry for lighter-weight, higher-performance, lower-cost, and more environmentally-sustainable solutions, have been met with the development of a new SBC-based alternativee for slush molded interior soft skins.

For more details on Lighter-weight, higher-performance, lower-cost, more environmentally-sustainable solution for slush molded interior soft skins click here

Oil prices slip in Asia as investors await US payrolls report as dollar strengthens

New York's main contract, light sweet crude for November delivery fell to US$81.1, while Brent North Sea crude settled lower at US$83.1. Oil prices have slipped in Asia, as investors await a widely waatched US payrolls report.

For more details on Oil prices slip in Asia as investors await US payrolls report as dollar strengthens click here

France's CGT union calls an open-ended strike in petrochemical industry from Oct. 12

A large union in France- CGT, has called an open-ended strike in the petrochemical industry from Oct. 12 in protest over a planned pension reform, as Reuters. The CGT, the dominant union in a sector tthat includes the oil refining industry, announced the call in a statement a day after unions in other sectors, notably public transport, called rolling strikes in an escalation of protests over the reform.

For more details on France's CGT union calls an open-ended strike in petrochemical industry from Oct. 12 click here

Air Liquide inks long term agreement with RusVinyl

Air Liquide has signed a long term agreement with RusVinyl, whereby it will supply oxygen, nitrogen and compressed dry air to RusVinyl's new world-scale PVC plant being built in Kstovo, in the region of Nizhny Novgorod.

For more details on Air Liquide inks long term agreement with RusVinyl click here

Random copolymer PP grades for excellent aesthetics, enhanced performance in cast film

Two new random copolymer PP grades for cast film and biaxially oriented polypropylene (BOPP) film applications have been added to its portfolio by SABIC. The new grades – SABIC® PP 622L and SABIC® PP 621P, are engineered to meet growing customer demand for advanced film technologies such as multi-layer constructions, and for improved aesthetics and versatility.

For more details on Random copolymer PP grades for excellent aesthetics, enhanced performance in cast film click here

Clarifying agent saves energy, reduces temperatures, cuts cycle times for high-clarity PP moulding

Plastics processors intending to produce high-clarity polypropylene mouldings now have two compelling reasons for using grades containing Milliken’s next-generation clarifying agent, Millad® NX8000. NNot only does it yield unparalleled transparency in injection- and blow-mouldings, but it has also now been proven to allow significant savings in energy consumption through reduced processing temperatures and lower cycle times.

For more details on Clarifying agent saves energy, reduces temperatures, cuts cycle times for high-clarity PP moulding click here

Forecasts of huge increase in US crude stockpiles moderate market sentiment

New York's main contract, light sweet crude for delivery in November dipped to US$82.6, while Brent North Sea crude for November delivery dipped to US$84.7. Market sentiments have toned down amid foreecasts of a huge increase in US crude stockpiles.

For more details on Forecasts of huge increase in US crude stockpiles moderate market sentiment click here

HDPE maintains its strength in Turkey

Since the first half of September, polyethylene players in Turkey have been complaining about tight HDPE supplies, particularly for promptly available cargoes. This has kept sentiments in the HDPE marrket relatively firm compared to other PE products, as per Chemorbis.

For more details on HDPE maintains its strength in Turkey click here

Demand from German petrochem makers rises: European naphtha to Asia shrink

Demand from German petrochemicals producers have been driving naphtha demand in Europe, pushing prices to five month highs, as per Bloomberg. European refiners will export little or no naphtha to Asiaa this month.

For more details on Demand from German petrochem makers rises: European naphtha to Asia shrink click here

LG Chem acquires Dow Chemicals’ stake in PC venture

South Korea’s largest chemicals maker, LG Chem Ltd., has bought out LG Dow Polycarbonate Ltd., a joint venture with Dow Chemical Co, as per Bloomberg. The joint venture is LG Chem’s wholly owned unit as of Oct.

For more details on LG Chem acquires Dow Chemicals’ stake in PC venture click here

Ineos Group Holdings to switch focus to establishing ventures in Asia and Middle East

Ineos Group Holdings Plc, the world’s sixth-largest chemical company, is switching its focus to establishing ventures in Asia and Middle East from disposals after reducing debt, Group Director Tom Crootty said.

For more details on Ineos Group Holdings to switch focus to establishing ventures in Asia and Middle East click here

Turkey's plastics imports in August 2010, highest in 10 years

Turkey’s plastics imports in August 2010 rose when compared to August 2009, according to data released by the Turkish Statistical Institute (TUIK), as per Chemorbis. August 2010 figures shows a trend line above the past ten years of imports, thereby setting a record high for the month.

For more details on Turkey's plastics imports in August 2010, highest in 10 years click here

Naphtha prices in Asia near five month highs despite ample supply

Naphtha price in Asia extended gains for the fifth-straight session, nearing a five-month high on Tuesday, while cracks were largely steady supported by a strong European market, as per Reuters. Asia continues to struggle with high stocks, apparent in a spot deal in South Korea where YNCC has bought 50,000 tons of open-spec grade for H1-November arrival at a discount of about US$4/ton to Japan spot quotes on a cost-and-freight basis.

For more details on Naphtha prices in Asia near five month highs despite ample supply click here

European naphtha rises: disruption due to strike at French hub blocks crude tankers, vessels

Naphtha prices continue to move north in Europe as the strike in the French hub of
Fos-Lavera entered its ninth day, presently blocking 14 crude tankers and 13 refined product vessels. This has slashhed production at some refineries and pushed up gasoline prices.

For more details on European naphtha rises: disruption due to strike at French hub blocks crude tankers, vessels click here

Weaker Asian markets could suppress recovery of petrochemical industry

Through the economic downturn of 2008-09, the growth in Asian petrochemical markets supported the global petrochemical industry, serving as robust export markets to compensate for slow domestic consummption in many Western markets.

For more details on Weaker Asian markets could suppress recovery of petrochemical industry click here

Meager impact of recently imposed duties by EU on Lotte Pakistan’s PTA sales

The recently imposed duties on PET (Polyethylene Terephthalate) by the European Union, is not likely to have any sizeable impact on Lotte Pakistan’s PTA sales, according The Express Tribune. Over 30% of Purified Terephtalic Acid (PTA) production is sold to the PET sector, while the rest goes to PSF and others.

For more details on Meager impact of recently imposed duties by EU on Lotte Pakistan’s PTA sales click here

Oil prices stabilize above US$81

New York's main contract, light sweet crude for delivery in November, inched up to US$81.6, while Brent North Sea crude for November dipped to US$83.2. Oil prices were mixed in Asian trade as a strenggthening dollar and a slump on Wall Street weighed on sentiment.

For more details on Oil prices stabilize above US$81 click here

Saudi Aramco invited to build oil refinery integrated with a petrochemical plant

Saudi Aramco has been invited to join Indonesian state-owned oil and gas company PT Pertamina and PT Chandra Asri to build a US$7 bln oil refinery integrated with a petrochemical plant in Indonesia iin Banten.

For more details on Saudi Aramco invited to build oil refinery integrated with a petrochemical plant click here

Unscheduled emergency shutdown at Haldia Petrochemicals (update)

A week long unplanned emergency shutdown has been announced by Haldia Petrochemicals Ltd (HPL) to fix a problem in the naphtha cracker complex. This is HPL’s second closure after the company increasedd its capacity under “Project Supermax” in August.

For more details on Unscheduled emergency shutdown at Haldia Petrochemicals (update) click here

Unscheduled emergency shutdown at Haldia Petrochemicals

A week long unplanned emergency shutdown has been announced by Haldia Petrochemicals Ltd (HPL) to fix a problem in the naphtha cracker complex. This is HPL’s second closure after the company increasedd its capacity under “Project Supermax” in August.

For more details on Unscheduled emergency shutdown at Haldia Petrochemicals click here

Indian players predict improved PVC demand by end of month

Import PVC prices have been softening gradually over the past few weeks in India, in the face of lackluster demand, as per Chemorbis. Although demand is expected to remain sluggish for the short term,, a revival in demand towards the end of the month is being predicted by a several players based on the need to begin preparations for the upcoming Diwali holidays in the country.

For more details on Indian players predict improved PVC demand by end of month click here

Noticeable increases in Asian spot styrene prices

In Asia, spot styrene prices recorded noticeable increases over the past week, moving up by over US$50/ton in a week’s time, gaining support from the higher energy prices as well as the planned mainteenance shutdowns in the region, as per Chemorbis.

For more details on Noticeable increases in Asian spot styrene prices click here

A fire at Formosa Petrochemicals Corp’s synthetic paper plant

A fire engulfed a synthetic paper plant owned by a group company of Taiwan's Formosa Petrochemicals Corp, as per Reuter. The fire broke out at the plant in southern Taiwan run by Nan Ya Plastics earlyy on Sunday and was not extinguished as of 0900 GMT.

For more details on A fire at Formosa Petrochemicals Corp’s synthetic paper plant click here

IOC considers revision of product-mix at Paradip petrochemicals project

Indian Oil Corporation (IOC) is considering revision of it’s product mix at Paradip petrochemical project at the upcoming 15 mln tons refinery being built at an investment of Rs 29,400 crore.
As peer the initial plan, IOC had planned to set up a 2.

For more details on IOC considers revision of product-mix at Paradip petrochemicals project click here

UAE to fight back EU decision to impose new customs duties on it's plastics exports

The UAE’s main economic partner- European Union, has imposed new duties on plastics from the UAE, Iran and Pakistan, saying the three were illegally subsidizing exports to Europe. The decision means PPolyethylene Terephthalate from the UAE, Iran and Pakistan will face EU import duties of €44.

For more details on UAE to fight back EU decision to impose new customs duties on it's plastics exports click here

Asian naphtha at 18 week high as ample supplies weigh on sentiments

Asian naphtha price hovered at a 4-1/2 month high for the third-straight session on Friday, and cracks extended losses to reach a four-session low as ample supplies continued to weigh on sentiment, as per Reuters.

For more details on Asian naphtha at 18 week high as ample supplies weigh on sentiments click here

Trends and technical developments in international roofing and geomembrane industry

AMI conference on Waterproof Membranes looks at the trends and technical developments in the international roofing and geomembrane industry. It takes place from 30 November-2 December 2010 at Cologne,, Germany.

For more details on Trends and technical developments in international roofing and geomembrane industry click here

Indian Institute of Packaging launches International Summit for Packaging Industry 2010

The Guest of Honour Shri Ashok Sinha, IAS, Secretary, Ministry of Food Processing Industries and the Chief Guest Shri Subodh Kant Sahay, Hon’ble Minister for Food Processing Industries, Government of India, inaugurated The International Summit for Packaging Industry (ISPI) organized by the Indian Institute of Packaging (IIP) and supported by the World Packaging Organisation (WPO) and the Asian Packaging Federation (APF).

For more details on Indian Institute of Packaging launches International Summit for Packaging Industry 2010 click here

Asian PE demand enters the holidays on a strong note

Buying interest in Asia’s PE markets picked up this week despite the fact that Chinese market is about to shut down for the week long National Day holidays, as per Chemorbis. Most buying interest is ffrom traders and distributors.

For more details on Asian PE demand enters the holidays on a strong note click here

Keyuan Petrochemicals completes private placement financing with institutional investors

Keyuan Petrochemicals has completed a private placement financing with institutional investors with gross proceeds of US$20.3 mln to fund the purchase of raw materials for its petrochemical productionn facility.

For more details on Keyuan Petrochemicals completes private placement financing with institutional investors click here

Strong rebound in Asian naphtha market

The Asian naphtha market rebounded strongly this week, flipping into a backwardated structure. Naphtha crack vs Brent crude and the benchmark CFR Japan price surged to four-month highs as per Platts. The rally was jumpstarted by continuing uncertainty in the first half of this week over supply.

For more details on Strong rebound in Asian naphtha market click here

Oil prices cross US$80 in Asia on expectations of robust demand amid improving US economy

Oil prices have risen past US$80 a barrel in Asia, as demand for crude oil is expected to grow amid improving signs from the U.S. economy. A decline was reported in first-time claims for jobless beneffits amid improvement in Chicago region manufacturing activity.

For more details on Oil prices cross US$80 in Asia on expectations of robust demand amid improving US economy click here

Shin-Etsu Chemical operating expanded PVC plant in Louisiana at 100% capacity

Shin-Etsu Chemical is operating its expanded PVC plant in Plaquemine, Louisiana, at 100% capacity, as per Platts. Shintech's Plaquemine PVC plant's capacity was doubled to 600,000 tpa during the expannsion after which the plant was restarted in September.

For more details on Shin-Etsu Chemical operating expanded PVC plant in Louisiana at 100% capacity click here

100% stake in Novatek-Polymer sold to SIBUR Holding

NOVATEK has completed a deal to sell 100% of NOVATEK-Polymer to SIBUR Holding, the company reported in a news release. 32% of its stake in NOVATEK-Polymer was handed over on September 2, when the deall was made, while the balance 68% was transferred after the Federal Antimonopoly Service (FAS) approval for the transaction.

For more details on 100% stake in Novatek-Polymer sold to SIBUR Holding click here

EU imposes new duties on plastics from Iran, Pakistan, UAE

The European Union imposed new duties on plastics from Iran, Pakistan and the United Arab Emirates on Wednesday, saying the three were illegally subsidising exports to Europe's growing soft-drinks marrket, as per Reuters.

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Rising euro-dollar parity attracts imports to Italy

The euro has been steadily climbing up vs the US dollar since late August with the parity at an almost five month high as it rose above 1.36 during daily trading as of yesterday, as per Chemorbis. Thee appreciation of the euro gained speed particularly in the past 10 days as disappointing economic results reinforced worries about the weakening recovery in the US.

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