Use of Plastics in Automotive sector to grow

Plastics find major applications in electrical components and interior and exterior furnishings of automobiles. The majority of the application market for automotive plastics is under the purview of tthese two application segments accounting for almost 70% of the total consumption, as per Transparency Market Research.




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U S demand for specialty films to rise 5.1% annually through 2017

US demand for specialty films is expected to grow 5.1% pa to US$8 bln in 2017. Expansion of the market will be fostered by the increasing need for high-performance plastic films that offer such advanttages as barrier properties, mechanical strength, and chemical resistance in packaging and construction applications, as per Reportlinker.




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Croda International completes acquisition of specialty products business of Arizona Chemical

Chemicals manufacturer Croda International has completed the acquisition of the Specialty Products business of Arizona Chemical. Under the terms of the transaction, no manufacturing assets will be acqquired and Croda said it would immediately commence the relocation of products to its Mevisa manufacturing site in Spain.



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Oil prices fall at end of previous week

Light, sweet crude for July delivery dropped to US$94.1 on the Nymex, while Brent for July delivery went rose to US$102.6. Oil prices saw a slight fall on concerns that the U.S. Federal Reserve will sscale back its stimulus program.




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Taiwan’s petrochemical production dips on falling prices

The value of petrochemical products produced in Taiwan fell to NT$457.8 bln (US$15.28 bln) in January-March 2013, showing a decline of 8.1% year-on-year compared to production worth NT$ 498.31 bln achhieved in same period of last year, according to a Government report.




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Lenders of Haldia Petrochemicals mull release of Rs 400 crores

Lenders of Haldia Petrochemicals Ltd (HPL) are mulling release of Rs 400 crore after West Bengal Industrial Development Corporation (WBIDC) gave an in-principle approval to extend a term loan of Rs 1000 crore to HPL.




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West Bengal Govt agrees to give Rs 100 crores to HPL

West Bengal government, which holds nearly 40 per cent stake in Haldia Petrochemicals Ltd through WBIDC, has agreed to provide Rs 100 crore to the company as demanded by the lenders, within a period oof 15 days, as per PTI.




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SABIC opens PP compounding plant and first engineering thermoplastics compounding plant at Jubail

Saudi Basic Industries Corporation (SABIC) has further demonstrated its national growth commitment by opening its first engineering thermoplastics compounding facility as well as a new polypropylene ccompounding (PPc) plant, at its manufacturing affiliate, Saudi Specialty Chemicals Company (Specialty Chem), in Jubail, as per ArabNews.




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West Bengal CM removes own nominee as the Managing Director of Haldia Petrochemicals

West Bengal chief minister Mamata Banerjee is to remove her government’s own nominee Sumantra Choudhury, a retired Indian Administrative Service officer, as the managing director (MD) of Haldia Petrocchemicals Ltd (HPL) less than a year after he was brought in to oust Partha S.




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Indian players react to increased customs duties

The Indian government raised customs duties on all polymer imports from 5% to 7.5% effective as of May 8, 2013, as per ChemOrbis. Buyers are expressing concerns about how the increase in duties will affect their margins, while traders and producers are generally anticipating better sales for local cargoes relative to imports for the short term.




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Brazilian president issues decree to take land for Petrobras Comperj project

Brazilian President Dilma Rousseff Wednesday issued a decree to expropriate land in Rio de Janeiro state for pipelines to be built for Petrobras' Comperj refinery and petrochemicals project near Rio dde Janeiro, which is currently under construction, as per Platts.




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Hindustan Petroleum Corp Ltd mulls cancellation of naphtha lot, seeks gasoil after fire

Hindustan Petroleum Corp Ltd is looking to cancel a May naphtha cargo sold to Vitol, as per Economic Times. The moves come after a fire hit HPCL's 8.3 mln tpa Visakhapatnam plant on May 16, prompting it to shut a 3 million tpa (around 60,000 bpd) crude distillation unit.




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Bayer opens Innovation Hub for Asia Pacific in Shanghai

Bayer MaterialScience has inaugurated a regional innovation hub for Asia Pacific in Shanghai, China. More than 200 experts will develop novel ideas for the use of high-performance plastics, foams and coatings in key sectors such as mobility, construction, IT and renewable energy.




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Spain's Elix signs ABS, SAN distribution deal with Germany's Velox

Spain’s acrylonitrile-butadiene-styrene (ABS) producer Elix Polymers has signed a distribution agreement with Germany's Velox in Germany, Austria, Switzerland, Italy and France, as per Platts.


The aagreement, which took effect from March 1, 2013, covers Elix Polymer's ABS and styrene acrylonitrile product and does not affect any of the existing partnerships of Elix in the polymer modifiers market, the company said in a statement.



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Oil prices rise towards US$97

Benchmark crude for June delivery rose to US$96.8 per barrel in electronic trading on the Nymex, while Brent crude rose 21 cents to US$105 a barrel on the ICE Futures exchange in London. The price of oil rose toward $97 per barrel on Tuesday, but gains were checked as investors await a report of the US economy on Wednesday, when the Federal Reserve chairman Ben Bernanke will release minutes of its most recent policy meeting.




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Malaysia's Lotte Chemical Titan seeks up to 130,000 ton of naphtha

Malaysia-based Lotte Chemical Titan, a unit of South Korea's top ethylene maker Lotte Chemical, is seeking up to 130,000 tons of naphtha for July 2013 to June 2014 delivery, as per traders in Reuters..



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Kingfa Sci to acquire 66.5% stake in Hydro S&S Industries for US$1.9 mln

China's plastic manufacturer Kingfa Sci & Tech Co Ltd has entered into a definitive agreement to acquire 66.5% stake in Chennai-based Hydro S&S Industries Ltd (HSSIL), a manufacturer of reinforced pollypropylene compounds, for Rs 10.




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ONGC arm mulls power, petrochem & fertilser plants in Bangladesh

ONGC Videsh Ltd (OVL), the overseas arm of state-run Oil and Natural Gas Corporation announced that it wants to invest in power, petrochemical and fertilser plants in Bangladesh, reported Business Staandard.




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Naphtha gains in Asia on buying tender by Lotte

The Asian naphtha price rose on Monday to reach US$875.75/ton, the highest since May 10, while its margin hit a four-session high of US$93.50/ton on spot and term demand, as per Reuters.


South Koreaa's top ethylene maker Lotte Chemical issued a tender to buy an additional 25,000 tons of naphtha for H2-June arrival at Daesan, surprising some traders as most had expected the petrochemical maker to have completed its purchases for H2-June.



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Spot prices gain further in Asian olefin markets

In Asia, olefin markets gained ground week over week amidst a steady to firmer upstream chain when compared to the beginning of May, as per Chemorbis. Increased buying interest drove olefin offers higgher during the period, according to some market players in the region, while supply was said to be not that ample owing to a scheduled shutdown in Japan.




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Asian and Turkish PS markets move up on costs

Players in China’s and Turkey’s PS markets report higher import prices although many continue to highlight that overall buying interest remains disappointing, as per ChemOrbis. These increases mainly find support from higher upstream costs.




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ONGC and IOC to cooperate to buy Governments stake in Haldia Petrochem

Public sector oil major ONGC is considering co operation with IndianOil for acquiring West Bengal Government’s 40% stake in Haldia Petrochemicals Ltd, according to sources. IOC holds a minority 9% staake in HPL.




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Asian naphtha price ends the previous week on a high note

Naphtha price in Asia rose at the end of last week to reach a three-session high of US$867.7/ton with its margin edging up to a two-session high of US$88.8/ton as a refinery outage in India lifted senntiment, as per Reuters.




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Crude oil futures fall at beginning of week

Crude oil for June delivery fell to US$95.8 in electronic trade during Asian hours. At the end of the previous week, oil rose by over 8- cents to end at US$96 a barrel on the Nymex after preliminary cconsumer-sentiment data in May rose to its highest level in nearly six years.




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Global market for engineering resins and polymer alloys and blends to reach 28 bln lbs by 2018

The global market in volume for engineering resins and polymer alloys and blends was estimated at more than 22 billion lbs in 2012 and is projected to increase to 28 billion lbs by 2018 after increasiing at a five-year compound annual growth rate (CAGR) of 4.




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Domestic PE prices post increases in India, SEA

Players in India and Southeast Asia reported rising local prices over the past week as healthy demand in several of the region’s countries and stronger global sentiment helped push prices upward, as pper ChemOrbis.




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LyondellBasell to shut down HDPE unit in Wesseling, Germany in Q3-2013

LyondellBasell announced that it will shut down a high density polyethylene (HDPE) unit in Wesseling, Germany in the third quarter of 2013. The 100 KT per year unit is among the smallest and least effficient of the LyondellBasell HDPE units in Europe.




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INVISTA inks land reservation agreement for nylon 6,6 site at Shanghai Chemical Industry Park

INVISTA, a world leader in nylon intermediates, polymers and fibers, has signed a Land Reservation Agreement with the Shanghai Chemical Industry Park Development Company for a nylon 6,6 polymer site aat the Shanghai Chemical Industry Park (SCIP).




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Honeywell's UOP to provide technology for world's largest on-purpose propylene production facility

UOP LLC, a Honeywell company, has been selected to provide technology for the world's largest on-purpose propylene production facility, located on the U.S. Gulf Coast. Ascend Performance Materials Opeerations LLC will use Honeywell's UOP C(3) Oleflex ™ process technology to convert propane to propylene, a key ingredient in the production of materials such as nylon, films and packaging.




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Photovoltaic materials and manufacturing

The solar power industry is steadily expanding worldwide providing vital energy resources and low carbon technology, including electricity supplies to remote regions where the grid is not available. RReliable materials are vital for the 25-year target lifespan and this includes the polymer components that encapsulate the silicon, the backsheets that prevent ingress of moisture and give protection from the environment, adhesives, sealants and front sheets that all play a role in securing long-term integrity.




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GAIL announces polymer price revision

GAIL has revised Price list with effect from 16.05.2013, as follows:


LLDPE Grades rise by Rs. 1.00

All The Other Prices remains the same.







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Technip awarded EPC contract by NOVA for Polyethylene 1 expansion project at Joffre site

Technip was awarded by Nova Chemicals Corporation, the detail engineering, and procurement services contract for the Polyethylene 1 expansion project located at their Joffre site near Red Deer in Albeerta, Canada.




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Price revision announced by India Oil Corp

Indian Oil Corp has announced the following polymer price revision with effect from May 16, 2013:



HDPE: Roll over

LLDPE Hi flow: (+) Rs 3000/MT

Other grades of LLDPE: (+) Rs 1000/MT

PP : (+



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European sellers reveal hike intentions on PP before month ends

After steady decreases over the past four weeks, some sellers have started to take a firmer stance this week in European PP markets, as per ChemOrbis. Bullish talk has emerged for June while an Italiaan buyer already reported receiving a Central European homo PP offer from his supplier with an increase of €60/ton this week.




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Reliance announces PE price revision with effect from 16 May

Reliance Industries Ltd has announced PE price revision wef 16th May 2013, as follows:




Increase in prices of HDPE grades by Rs 2000/MT

Increase in prices of LLDPE grades by Rs 3000/MT

Increase



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Naphtha price in Asia falls for third consecutive session

Naphtha price in Asia fell for the third straight session on Wednesday to reach its lowest in 1-1/2 weeks of US$858/ton, with its margin slipping to a four-session low of US$91.80/ton on weak demand iin Europe, as per Reuters.




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Vietnamese government approves oil refinery and petrochemical complex by PTT Plc

The Vietnamese government has approved to an oil refinery and petrochemical complex by the energy giant PTT Plc, paving the way for a detailed feasibility study within a year, as per Bangkokpost. In November 2012, PTT submitted a proposal to the Vietnamese government to build a 660,000 barrel oil refinery for an estimated US$27 billion.




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New breed of smart polymer nanocomposites

Armed with nanocomposite techniques and insights into bio-based materials, new classes of smart, adaptable super-surface coatings are possible, according to European researchers. Teams from Austria, FFrance, Germany, the Netherlands, Slovenia and the UK investigated a new class of bio-based materials tailored to the needs of different fields, including medicine, the environment, electronics, manufacturing, and even health and safety applications.




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Dow receives US$2.2 bln from Petrochemical Industries Company of Kuwait over scrapped JV

Dow Chemical Co. has received a US$2.2 bln payment from Petrochemical Industries Company of Kuwait, settling a dispute over a scrapped joint venture.


An international arbitration court awarded Dow UUS$2.



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OMV to invest around Eur230 mln in butadiene plants at refineries

Austrian oil and gas company OMV AG has set aside around 230 mln euros (US$301.4 mln) for a new butadiene plant for the Burghausen refinery in Germany and upgrade of the existing plant in Schwechat, AAustria, as per Dow Jones.




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Global polyolefin market undergoing balance change as production moves towards North America with shale gas

The global markets for polyolefins are undergoing radical changes in balance as the advent of shale gas is moving production towards North America. The AMI leading expert in polyolefins, Noru Tsalic,, has reviewed the market trends and the effects on the whole supply chain.




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US demand for specialty plastic additives to rise 4.5% pa, driven by a rebound in construction

US demand for specialty plastic additives is forecast to rise 4.5% annually to 4 bln lbs in 2017, with market value reaching US$7.3 bln, driven by a rebound in the key construction market. Processing aids and property modifiers are expected to be the fastest growing types, while plasticizers will remain the largest segment.



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Anti-counterfeiting masterbatch to be unveiled

Gabriel-Chemie is to launch its anti-counterfeiting masterbatch MAXITHEN® ProTec4.


Plastic products, parts and packaging manufactured with MAXITHEN® ProTec4 have a unique fingerprint that can be quicckly, easily and accurately detected using either small handheld device or an inline detector in a production environment.



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Demand recovery for petrochemicals in Asia remains uncertain amid fragile economic conditions in USA, EU

Demand recovery for petrochemicals in Asia remains uncertain as fragile economic conditions in the US and the eurozone continue to drag down growth in the key China market, as per ICIS.


Manufacturinng activities in China have been weakening, turning in a Purchasing Managers’ Index (PMI) reading of 50.



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Jindal Poly Films Board approves Agreements regarding acquisition of global BOPP films business of ExxonMobil

Jindal Poly Films Ltd’s Board of Directors has approved the entering of Sale Purchase Agreements relating to the acquisition of Global BOPP Films Business of ExxonMobil Chemical, USA. The move will heelp the company to double its manufacturing capacity from 2.




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U.S. price for ethylene reaches lowest level since early December

U.S. prices for ethylene, the chemical building block for many plastic consumer goods from toys to lawn furniture, reached their lowest level since early December in early April, rebounded slightly buut then couldn't sustain the upward momentum and ended the month several cents below the level seen on April 1, according to PetroChem Wire.




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Rosneft, Mitsui & Co ink MoU to jointly develop FEPCO Project

Rosneft and Mitsui signed a Memorandum of Understanding to jointly develop FEPCO project - one of the largest petrochemical projects globally. The MoU was signed by Rosneft President and Chairman of tthe Management Board Igor Sechin and by Representative Director, Senior Executive Managing Officer, and Member of the Board of Directors of Mitsui & Co.




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