Sinopec in US$1.02 bln shale gas deal with Chesapeake Energy Corp.

China Petrochemical Corp.(Sinopec) has closed a US$1.02 billion deal with Chesapeake Energy Corp. With this, the second- largest Chinese energy producer has acquired a stake in a shale


oilfield for lless than one-third of its estimated value.



For more details on Sinopec in US$1.02 bln shale gas deal with Chesapeake Energy Corp. click here

Hike attempts for import PP defy lower local market in China

Some regular producers from the Middle East have revealed their March PP offers to China with increases of up to US$70/ton in the import market, blaming their tight supplies, as per Chemorbis. Neverthheless, a stable to soft trend remains in place in the local market, causing the local market to trade at a discount.




For more details on Hike attempts for import PP defy lower local market in China click here

Al Waha Petrochemical restarts polypropylene plant

The polypropylene plant of Al Waha Petrochemicals Co, an affiliate of Saudi Arabia-based Sahara Petrochemicals Co, has restarted its polypropylene plant. An unexpected technical interruption of the coooling water system at the plant had resulted in the shutdown of all the production units on February 14, 2013.




For more details on Al Waha Petrochemical restarts polypropylene plant click here

NWE Mar butadiene contract fully settled at Eur1,415/mt

The Northwest European contract price for March-delivered butadiene was fully settled at Eur 1415/mt FD NWE (US$1880/mt FD), following confirmation from two producers and two consumers involved in thee negotiations, as per Platts.




For more details on NWE Mar butadiene contract fully settled at Eur1,415/mt click here

Oil prices dip as results of Italian national elections threaten instability and disruption of euro zone’s recovery

New York’s main contract, light sweet crude for delivery in April, dipped to US$92.4 a barrel while Brent North Sea crude for delivery in April dipped to US$113.9. Oil weakened after Sunday’s nationaal elections in Italy failed to produce a clear winner.




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Reliability and manufacturing with polymers in photovoltaics

The photovoltaic power industry is well established in many regions and despite the sometime negative perception the end user demand in 2011 was strong and the total market for new installations passeed the 26 GW mark according to IHS iSuppli.




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Reliance Sibur Elastomers Pvt Ltd begins construction of butyl rubber plant in Jamnagar

Reliance Sibur Elastomers Pvt Ltd, a joint venture between Reliance Industries Ltd (RIL) and Russian gas processing and petrochemicals company SIBUR began construction of its butyl rubber plant in Jammnagar.




For more details on Reliance Sibur Elastomers Pvt Ltd begins construction of butyl rubber plant in Jamnagar click here

PET markets in Asia close the week after holiday on a stable to soft note

In Asia, PET producers anticipated firmer expectations for the period after the Chinese New Year holiday, as per ChemOrbis. However, last week, prices followed a stable to US$10/ton softer trend on thhe back of the lower upstream costs.




For more details on PET markets in Asia close the week after holiday on a stable to soft note click here

Ethylene, propylene supply tightens in Europe on production issues

European ethylene and propylene supply has tightened amid a spate of production issues, though the impact of this on spot prices is being moderated by poor derivatives demand, as per sources reported by Platts.




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State Bank of India accorded a board position Haldia Petrochemicals

State Bank of India, one of the lenders to Haldia Petrochemicals Ltd, has been accorded a board position in the company.


The consortium of banks demanded margin money of 20% from both the promoters for availing of Rs 1,000 crore sought for HPL's revival.



For more details on State Bank of India accorded a board position Haldia Petrochemicals click here

Naphtha price and margin end previous week at three-week low

Naphtha price and its margin in Asia remained at a three-week low on Friday, at US$999/ton and US$140.8/ton respectively, as naphtha demand may slide further as buyers sought alternative feedstock, ass per Reuters.




For more details on Naphtha price and margin end previous week at three-week low click here

UAE's ADNOC to push forward by a month, April-March term naphtha cycle

The UAE's Abu Dhabi National Oil Co (ADNOC) plans to shift its April 2013-March 2014 naphtha term cycle forward by a month. With this, its cycle will change to May 2013-April 2014 term cycle instead, as per Platts.




For more details on UAE's ADNOC to push forward by a month, April-March term naphtha cycle click here

Marginal recovery in oil prices

New York's main contract, WTI crude for April, inched up to US$93.1, while, in London, Brent North Sea crude for April delivery rose to US$114.10 a barrel, at the end of the previous week. A marginal recovery was seen in oil prices on Friday, after two days of losses triggered by concerns that prices had outrun weak growth in demand.




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C3 Petrochemicals plans to build PDH plant in Texas

C3 Petrochemicals plans to build a propane dehydrogenation (PDH) plant near Alvin, Texas, to produce polymer-grade propylene (PGP) and chemical-grade propylene (CGP), according to an air quality permiit application that the company filed this month with the US Environmental Protection Agency (EPA), as reported by ICIS.




For more details on C3 Petrochemicals plans to build PDH plant in Texas click here

Chevron buys 35,000 tons of naphtha from ONGC in a rare move

Chevron has bought 35,000 tons of naphtha from India's Oil and Natural Gas Corp (ONGC) for March 3-4 loading from Hazira in a rare move, as per Reuters. Chevron paid a premium of about US$50/ton to Miiddle East quotes on a free-on-board (FOB) basis.




For more details on Chevron buys 35,000 tons of naphtha from ONGC in a rare move click here

Oil plunge in New York raises speculation of massive sell-off by investment fund

Oil plunged by around three dollars in New York to less than US$95, while Brent futures dropped by about two dollars to US$115.60 in London.


The unexplained plunge raises speculation of massive selll-off by an investment fund.



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Rubberlike flexibility of new PVC elastomer jacket compounds eases handling of industrial cables

Two PVC elastomer compounds for jacketing of industrial and heavy-duty cables exhibit flexibility even at very low temperatures and provide a property profile comparable to more costly high-performancce materials widely used in such applications, it was announced today by Teknor Apex Company.




For more details on Rubberlike flexibility of new PVC elastomer jacket compounds eases handling of industrial cables click here

Reliance announces PE price revision

Reliance Inds Ltd has announced PE price revision with effect from February 21, 2013:


· Increase prices of LLDPE High Flow grades (M24300 & M26500) & Octene Film grades (O19010, O20010 & O210



For more details on Reliance announces PE price revision click here

Higher import PVC prices meet with resistance in India

Initial import PVC prices for March have been announced with increases to India this week in line with rising upstream costs and the firming global trend, according to ChemOrbis Price Index. In expecttation of more modest increases for the coming month, buyers are offering resistance to the new prices.




For more details on Higher import PVC prices meet with resistance in India click here

Itochu, Glencore buy March naphtha at premium

Itochu Corp. sold 30,000 tons of naphtha for loading in March to S-Oil Corp, at a premium of US$53/metric ton to Japan benchmark prices. SK Innovation Co. sold a naphtha cargo for March loading to Gleencore International Plc, at a premium of over US$40/metric ton to Japanese benchmark prices.




For more details on Itochu, Glencore buy March naphtha at premium click here

IOC to decide on acquiring stake in Haldia Petrochem after decision by West Bengal government

Indian Oil Corporation (IOC) could a call on taking a controlling stake in the cash-strapped Haldia Petrochemicals Ltd (HPL) following the West Bengal government's decision to appoint a consultancy fiirm - Deloitte to advise on the proposed sale of its shares, as per IANS.




For more details on IOC to decide on acquiring stake in Haldia Petrochem after decision by West Bengal government click here

Naphtha cargoes fetch record high premium

Reliance Industries has sold up to 20,000 tons of naphtha for H1-March loading to Unipec at around US$70/ton above Middle East quotes on a free-on-board (FOB) basis, setting a new high for naphtha preemiums in India, as per Economictimes.




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Successful coating of PEEK implants with bioactive film improve success rate in spinal surgeries

Researchers from North Carolina State University have for the first time successfully coated polymer implants with a bioactive film. The discovery should improve the success rate of such implants – whhich are often used in spinal surgeries.




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Oil prices mixed amid holiday in US financial markets

New York's main contract, light sweet crude for delivery in March inched up to US$95.6 a barrel, while Brent North Sea crude for delivery in April dipped to US$117.4. Oil prices were mixed in Asia on weaker oil production and exports from Saudi Arabia, and as financial markets remained closed in the United States on Monday for a public holiday.




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Polyethylene Terephthalate market is expected to reach 76.7 mln tons by 2016

Polyethylene Terephthalate (PET) volume market is expected to reach 76.7 million tons by 2016 primarily supported by the product types - films, fibers and sheet extrusion, as per ResearchandMarkets. GGlobally, bottles & container and food packaging segments together accounts for approximately 62.




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Russia's SIBUR establishes polypropylene trading groups in Turkey, Ukraine

Russia-based petrochemicals major SIBUR has registered two new subsidiary companies in Turkey and Ukraine to specialize in the trading of polymers, as per hydrocarbonprocessing.com. SIBUR Internationaal Trading Istanbul and SIBUR International Trading Kiev, with offices in the respective capitals, will trade in basic polymers.




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Pertamina seeks Government guarantee for plan to build petrochemical refineries

State oil company Pertamina has requested a guarantee from the government concerning the company’s plan to build petrochemical refineries capable of producing 1 million tpa. Pertamina is seeking that the government restrict similar industries from entering the sector, as per TEMPO Interactive.



For more details on Pertamina seeks Government guarantee for plan to build petrochemical refineries click here

Olefin prices follow different paths in global markets

Spot olefin prices followed different paths in major markets over the past week during Chinese holidays, as per ChemOrbis. Propylene and ethylene costs were either steady or posted slight gains in thee European and Asian markets with respect to the prior week on the strength of rising naphtha costs.



For more details on Olefin prices follow different paths in global markets click here

Economic concerns in USA and Europe keep oil prices below US$96

Benchmark crude for March delivery dipped to US$95.6 in electronic trading on the Nymex, while Brent crude dipped to US$117.6 on the ICE Futures exchange in London.


Market sentiments have been weigheed down by last week’s data which showed that US industrial production weakened and Europe remained mired in recession.



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Rapid demand growth of bio-based chemicals to cause strain on feedstocks by 2030

Driven by aggressive biofuel mandates, rapid growth will cause great strain on biomass by 2030, according to Lux Research. Using today’s technologies, an area the size of Russia would need to be cultiivated to replace all of petroleum use for chemicals and fuels—feedstock innovation will be needed to keep growing biomass’s market share.




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Strike on Ain Sokhna port hinders import shipments to Egypt

In Egypt, Ain Sokhna port workers have been on strike since end January, according to local Egyptian media. Around 1,200 workers at Platinum Maritime Services, which is a subcontractor at the port, sttarted their strike demanding permanent contracts with DP World, a private Dubai-based company that manages the port.




For more details on Strike on Ain Sokhna port hinders import shipments to Egypt click here

Oil prices yo-yo amid Europe growth concerns and Mid East tensions

Oil on the Nymex dipped to US$95.6, while Brent crude rose marginally to US$117.7 a barrel on Monday, supported by expectation of improving global growth despite some weak US data damping prices at thhe end of last week, and tensions in the Middle East.




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Polymer market in Asia shrugs off China's new preferential PE import duties

With effect from January 1, 2013, China will cut the polyethylene import duty for Least Developed Countries to 3%, from 6.5%, provided the landed prices of low density PE and high density PE from thesse countries exceed US$3,800/mt on a cost-insurance-freight (CIF) basis.




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Naphtha prices ease in Asia

Asian naphtha price eased to a three-session low of US$1052 on Friday after holding at a 10-month high, mirroring the fall in Brent crude. Naphtha margin in Asia, at US$169.1/ton has surged 26% since the start of this year as tight supplies persisted.




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New antibacterial polymer developed for sportswear, diapers, bandages

Researchers at KTH Royal Institute of Technology have discovered an antibacterial polymer that can be used in everyday products such as sportswear, diapers and bandages, without causing resistant bactteria.




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Saltic LLC launches construction on world-scale caustic soda and EDC plant at Salalah Free Zone

Oman-based Saltic LLC FZE has formally launched work on its world-scale caustic soda and ethylene dichloride plant at Salalah Free Zone. Site preparation works kicked off recently on a 35-hectare plott within the massive special economic zone adjoining the Port of Salalah, as per Oman Daily Observer.




For more details on Saltic LLC launches construction on world-scale caustic soda and EDC plant at Salalah Free Zone click here

Petrochemical demand for naphtha is expected to be back, either late Feb or early March.

The arbitrage situation also points to ongoing tight conditions in Europe. The arbitrage to Asia has remained open for several weeks, with the east-west spread standing at US$15/ton for March on Thurssday.




For more details on Petrochemical demand for naphtha is expected to be back, either late Feb or early March. click here

Naphtha tightness expected to continue in Europe

Robust naphtha market in Europe and recent tight conditions are still expected to persist during the coming weeks, as per ICIS. The dry run in the market is expected to last for March at least.


The sstrength can be attributed to premiums holding at record highs, recovering propane and gasoline that is holding firm.



For more details on Naphtha tightness expected to continue in Europe click here

Benzene's premium to naphtha plunges to 4 month low in NW Europe

Benzene's premium to feedstock naphtha slid to its lowest in the Northwest European market since October 18, breaching the psychologically important US$400/mt mark for the first time since mid-Novembeer to be assessed at US$379.




For more details on Benzene's premium to naphtha plunges to 4 month low in NW Europe click here

Fire shuts a Formosa Plastics plant at Yunlin County

A fire broke out at a bisphenol A (BPA) plant in the Formosa Plastics Group’ petrochemical complex in Yunlin County. The blaze caused limited damage, but the factory’s operations have been partially ssuspended to conduct safety checks.




For more details on Fire shuts a Formosa Plastics plant at Yunlin County click here

OPEC raises demand forecast for 2013, oil prices move up

New York's main contract, light sweet crude for delivery in March inched up to US$97.1 and Brent North Sea crude for April to US$118. Oil prices moved up in Asia after OPEC raised its demand forecast for 2013, citing signs of a recovery in the global economy.




For more details on OPEC raises demand forecast for 2013, oil prices move up click here

Indian Oil to wait before taking a call on investing in Haldia

Indian Oil Corporation plans to wait till a clear picture emerged on Haldia Petrochemicals matter before it decides on its further interest in the joint venture company, as per PTI.


HPL is a joint vventure project having the government of West Bengal, The Chatterjee Group (TCG), and IOC as major stakeholders.



For more details on Indian Oil to wait before taking a call on investing in Haldia click here

Production issues in US keep global PVC markets firm

The PVC market in the US has been facing several production issues since late last year, which have been exacerbated recently by the force majeure declaration of Westlake, as per ChemOrbis. Tighteningg supplies in the US have been resulting in higher domestic prices as well as firming export prices out of the country.




For more details on Production issues in US keep global PVC markets firm click here

Milacron LLC to acquire 100% stake in Mold-Masters

Milacron LLC, a global plastics industry leader and provider of premium fluids to the metalworking industry, and Mold-Masters, a leading global hot-runner manufacturer with a strong presence in North America, Europe and Asia, today announced they are combining to form a leading global solutions provider positioned to serve the full range of customer needs.




For more details on Milacron LLC to acquire 100% stake in Mold-Masters click here

Antimicrobial compounds to enhance safety of healthcare applications

Powerful new tools have been introduced to help medical device manufacturers reduce HCAIs among patients and clinicians by SABIC’s Innovative Plastics business. SABIC’s nine new antimicrobial compoundds featuring silver technology have been tested for log reduction values – the level of microbes eliminated from a surface – according to the ISO 22196-2007 protocol.




For more details on Antimicrobial compounds to enhance safety of healthcare applications click here

Prices in global petrochemicals market climb 6% in January 2013

For more details on Prices in global petrochemicals market climb 6% in January 2013 click here

Dhunseri Petrochem’s 430,000 tpa PET in Egypt to come onstream by July 2013

Kolkata-headquartered Dhunseri Petrochem and Tea Ltd plans to take its downstream petrochemicals facility in Egypt on stream by July this year. The Egypt unit is being set up at an estimated investmeent of nearly Rs 900 crore, as per The Hindu.




For more details on Dhunseri Petrochem’s 430,000 tpa PET in Egypt to come onstream by July 2013 click here

TPC Group to expand production capacity of polyisobutylene (PIB)

TPC Group Inc. (TPC) has commenced engineering to expand production capacity of polyisobutylene (PIB) to meet its customers' needs. TPC uses proprietary technology to produce both highly reactive PIB (HR-PIB) products, which are used in lubricant and fuel additives, and PIB products for conventional applications such as adhesives, caulks, sealants, and coatings.



For more details on TPC Group to expand production capacity of polyisobutylene (PIB) click here

Refinance loan facilities worth SR 1.04 bln riyals for three affiliates of Sipchem

Three affiliates of Saudi International Petrochemical Company (Sipchem) have refinanced loan facilities worth 1.04 billion riyals (US$276 mln) which were used to fund their key projects, as per Reuterrs.



For more details on Refinance loan facilities worth SR 1.04 bln riyals for three affiliates of Sipchem click here

Asian monomer prices climb ahead of Chinese holidays

Rising upstream costs have driven monomer prices higher in Asia just before Lunar New Year Holidays, as per tChemOrbis. Spot ethylene, propylene, styrene and VCM markets all posted weekly gains in thee region where supply for these feedstocks is expected to tighten in the coming term due to shutdowns at several plants.




For more details on Asian monomer prices climb ahead of Chinese holidays click here

US steam cracker margins likely to dip amid declining spot ethylene prices

According to industry sources, the spot market impact of January's plant outages appears to be weakening as turnaround completion deadlines are approaching -- Westlake Chemical is expecting to complette the expansion of its Geismar, Louisiana, Petro 2 steam cracker in late February/early March.




For more details on US steam cracker margins likely to dip amid declining spot ethylene prices click here

Oil dips, but close to 9 month high, on concerns over euro zone economy offset

Brent crude dipped to US$118.6, and U.S. crude slipped to US$95.6. At the start of the week, oil dipped to below US$119 a barrel, but stayed close to a 9 month high, on growing investor concern about the euro zone economy.




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Price revision by Haldia Petrochem

With effect from Feb 11, 2013, Haldia Petrochem has announced the following price revisions: For PE


There are no changes in basic prices of PE.

Locational adjustment (LA) and Stock Point Prices haas been revised on account of corresponding freight change.



For more details on Price revision by Haldia Petrochem click here

Asian PET market closes on a high note before Chinese New Year holiday

In Asia, PET prices closed the week before the Chinese New Year holiday on a higher note on the back of the firmer upstream costs, as per ChemOrbis. Chinese New Year holiday will start on February 9 aand last until February 15.




For more details on Asian PET market closes on a high note before Chinese New Year holiday click here

Wacker opens new dispersions plant in South Korea

Wacker Chemie AG officially launched its new production plant for vinyl acetate-ethylene copolymer (VAE) dispersions at its Ulsan site in South Korea. The additional 40,000 metric tons from the secondd reactor line increases the site's VAE-dispersion capacity to a total of 90,000 tpa.




For more details on Wacker opens new dispersions plant in South Korea click here

Novatek in commercial agreement with YNCC for supply of upto 300,000 tons of light naphtha

OAO NOVATEK (Novatek), announced conclusion of a commercial agreement with the Yeochun Naphtha Cracker Center (YNCC), a South Korean petrochemical company, for supplying up to three hundred thousand ttons of light naphtha produced at the Ust-Luga Gas Condensate Transshipment and Fractionation complex in 2013.




For more details on Novatek in commercial agreement with YNCC for supply of upto 300,000 tons of light naphtha click here

Indian Plast Pack Forum in talks with AKVN, Indore for developing a Plastic Park

Indian Plast Pack Forum is in talks with AKVN, Indore for developing a Plastic Park/Cluster of Plastic Processing Industries in and around Indore or Pithampur. AKVN, Indore has, in principle, agreed tto earmark a piece of land for Plastics, Packagings & Printing Park.




For more details on Indian Plast Pack Forum in talks with AKVN, Indore for developing a Plastic Park click here

Automation specialist KEBA puts a second plant into operation in Linz

The Linz-based KEBA Group continues to show positive development and for the current 2012/2013 financial year anticipates sales of around EUR 145 million. As a consequence, it will again show double-ddigit growth for the year.




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Royal Dutch Shell to increase polyols capacity at Singapore

Royal Dutch Shell PLC (RDSA) will increase polyols capacity at its Singapore petrochemical plant by over 100,000 tpa to 360,000 tpa. The upgrade is expected to be completed in 2014.


"The Asia Pacificc market for polyols has grown rapidly over the years and we see increasing demand for higher-comfort products," said Shell Chemicals Executive Vice President Graham van't Hoff.



For more details on Royal Dutch Shell to increase polyols capacity at Singapore click here

Honeywell awarded four major contracts worth US$40 mln for the Borouge petrochemicals complex

Honeywell has been awarded four major contracts worth a combined US$40 mln over an 18-month duration for the Borouge petrochemicals complex in Ruwais, Abu Dhabi. Honeywell will be the main automation contractor (MAC) for the project, providing Linde and other engineering, procurement and construction (EPCs) contractors involved in the project with integrated control and safety systems.




For more details on Honeywell awarded four major contracts worth US$40 mln for the Borouge petrochemicals complex click here

Naphtha price in Asia hits a near 10-month high

Asian naphtha price hit a near 10-month high of US$1049.75/ton on Friday, while margin rose for the fifth straight session towards an 11-month high of US$165.58/ton as tight supplies persisted, as perr Reuters.




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Blizzard strikes US Northeast- oil prices retreat

Benchmark crude for March delivery dipped to US$95.7 on the Nymex, reversing course after rising earlier in the day. In London, Brent crude rose by over a dollar to end at US$118.9 a barrel on the ICEE Futures exchange.




For more details on Blizzard strikes US Northeast- oil prices retreat click here

PVC buyers prefer local markets in India, Turkey

Import PVC prices to India and Turkey have been steadily firming up since mid November last year in line with the global upward trend, as per ChemOrbis. Nevertheless, buying interest towards these rissing import offers has been limited, particularly in recent weeks because buyers have shifted their attention to the local market, where they are able to find more competitive offers.




For more details on PVC buyers prefer local markets in India, Turkey click here

Occidental Petroleum plans ethylene plant in Texas

The Los Angeles, California-based Occidental Petroleum Corp. has proposed setting up of a new ethylene plant in Texas. In its application to the US Environmental Protection Agency (EPA), Occidental saaid the construction for the plant in Ingleside near Corpus Christi would commence in December 2014 and the production would start in February 2017.




For more details on Occidental Petroleum plans ethylene plant in Texas click here

Novatek signs marketing agreement With Yeochun Naphtha Cracker Center

Novatek announced the conclusion of a commercial agreement with the Yeochun Naphtha Cracker Center (YNCC), a South Korean petrochemical company, for supplying up to 3,00,000 tons of light naphtha prodduced at the Ust-Luga Gas Condensate Transshipment and Fractionation complex (Complex) in 2013.




For more details on Novatek signs marketing agreement With Yeochun Naphtha Cracker Center click here

Dupont to end PET production by mid 2013 at Cedar Creek site

DuPont Teijin Films US LP plans to consolidate production of internal PET polymer for its U.S. business at its Hopewell manufacturing site in Chester, Va.


The business conditions, the economic climatte and other pressures that have happened over the years in the polyester world that have been responsible for this step.



For more details on Dupont to end PET production by mid 2013 at Cedar Creek site click here

Oil prices push higher in Asia

Oil prices rose in Asian trade on Wednesday, supported by healthy economic indicators in the world's major economies, as per economictimes.com. New York's main contract, light sweet crude for deliveryy in March inched up to US$96.




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Installations at aromatics complex by Jurong Aromatic Corporation

Xylene splitter, a xylene separation tower used to produce aromatics, has been installed by the Jurong Aromatic Corporation (JAC) in Jurong Island, the petrochemical hub of Singapore, as per fibretofaashion.




For more details on Installations at aromatics complex by Jurong Aromatic Corporation click here

Naphtha price in Asia likely to stay robust after Lunar New Year amid tight supply, strong petrochem demand

Asia’s naphtha prices are likely to stay robust even after the Lunar New Year having soared to an almost 10-month peak, on the back of tightening supply in the region and strong petrochemical demand, as per ICIS.




For more details on Naphtha price in Asia likely to stay robust after Lunar New Year amid tight supply, strong petrochem demand click here

Recent rally in naphtha prompts European olefin-polyolefin producers to shift focus to margin retention

A recent rally in the naphtha market has prompted European olefin-polyolefin producers to shift their focus to margin retention, setting a mood of caution across the sector, as per sources in Platts. The naphtha market is very tight in the Mediterranean and Northwest Europe at the moment on the back of soaring gasoline prices and an open arbitrage window to Asia, where refinery maintenance is taking place into the spring.




For more details on Recent rally in naphtha prompts European olefin-polyolefin producers to shift focus to margin retention click here

China’s PP, PE markets set to enter holidays on firm footing

The activity in China’s PP and PE markets has started to slow down as the country is preparing to celebrate the Chinese New Year this weekend, as per ChemOrbis. Players are expected to be away from thhe market until February 18, even as several players have receded to the sidelines.




For more details on China’s PP, PE markets set to enter holidays on firm footing click here

Naphtha price in Asia near five month high

Naphtha price in Asia neared a five-month high on Monday at US1012/ton, while margin reached a two-session high of US$137.80/ton as strong demand reversed losses in the previous session. Demand was seeen from South Korean buyers seeking heavy full-range naphtha for H2-March delivery through private negotiations.




For more details on Naphtha price in Asia near five month high click here

SPE ANTEC® 2013 to focus on polymer advances and benefits to plastics from shale gas boom

Plenary speeches by four industry leaders at the Society of Plastics Engineers (SPE) ANTEC® 2013 will address new technical and business developments with great potential for benefiting plastics. ANTEEC 2013 will take place April 22-24, 2013 at the Duke Energy Convention Center in Cincinnati, Ohio, U.




For more details on SPE ANTEC® 2013 to focus on polymer advances and benefits to plastics from shale gas boom click here

Local HIPS prices carry smaller premium over GPPS in China

In China, given the fact that limited supply levels have been pushing local GPPS prices higher for some time, the premium between local GPPS and HIPS prices has narrowed very significantly, as per ChemOrbis.




For more details on Local HIPS prices carry smaller premium over GPPS in China click here

Propylene traders in NE Asia take long position

Olefins traders are going long on propylene and buying March cargoes at higher prices in anticipation of a market rally after the Lunar New Year holiday, as per market sources in ICIS. The recent spikke in feedstock naphtha prices to above US$1000/ton (€740/ton) FOB (free on board) Japan and arbitrage deals to the US and Europe earlier this month also stoked the bullish sentiment, as per ICIS.




For more details on Propylene traders in NE Asia take long position click here

Ferromatik Milacron India’s new milestone - dispatch of 7001st injection moulding machine

Leading Injection Moulding Machine Manufacturer Ferromatik Milacron India has set up a new Milestone for Injection Moulding Machinery Industry by handing over its 7001st Injection Moulding Machine on January 28, 2013 at Ahmedabad.




For more details on Ferromatik Milacron India’s new milestone - dispatch of 7001st injection moulding machine click here

Haldia Petrochem board rejects conversion of loan into equity

The management of Haldia Petrochemicals Ltd (HPL), led by the West Bengal government, has rejected lenders’ demand for conversion of a part of their Rs.4,000 crore loans to the company into equity. Thhe state expects to conclude the sale of its 40% stake in the firm by 30 June.




For more details on Haldia Petrochem board rejects conversion of loan into equity click here

Imports continue to be driven by propylene shortage in Europe

An unexpected outage was seen at Naptachimie’s cracker in Lavera, France. This has led to an unexpected shortage of propylene in Europe. As per ICIS, A 3,000 ton polymer grade propylene cargo has beenn fixed to Europe from the US.




For more details on Imports continue to be driven by propylene shortage in Europe click here

Sumitomo Chemical to close ethylene plant in Chiba

In a bid to reinforce the competitiveness of its petrochemical operation at Chiba Works, Sumitomo Chemical plans to close an ethylene plant. The shutdown is scheduled on or before September 2015- coinnciding with its next periodic shutdown maintenance.




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Mitsui Chemicals to withdraw from Keiyo Ethylene Co., Ltd.

Mitsui Chemicals, Inc. plans to withdraw from business operations of Keiyo Ethylene Co., Ltd. (KEC), a joint venture with Maruzen Petrochemical Co., Ltd. and Sumitomo Chemical Co., Ltd. Mitsui Chemicaals commenced equity participation (22.




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Reliance announces price revision with effect from February 1, 2013

Reliance has announced price revision in PE grades with effect from February1, 2013, as follows:


Increase prices of all HDPE grades by Rs 1000/MT, except Raffia(E52009, EE20, 53EA010,53TA010) and Mo



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