Formosa Plastics Corp reports net profit after last years loss

As the economic recovery increased demand and product prices, Taiwan’s Formosa Plastics Corp returned to a profit. Net income was NT$7.71 bln (US$243 mln) for the three months ended Dec. 31, compared with a loss of NT$14.

For more details on Formosa Plastics Corp reports net profit after last years loss click here

Showa Denko to start production of VGCFTM-X Carbon Nanotube at 400 tpa Oita plant

Showa Denko K.K. (SDK) has completed a 400 tpa plant for VGCFTM-X, a new grade of carbon nanotube with an optimized design for resin composite applications. After a trial run, a commercial production is to begin next month.

For more details on Showa Denko to start production of VGCFTM-X Carbon Nanotube at 400 tpa Oita plant click here

Talks on Taiwan-China proposed economic cooperation framework agreement to commence in Taiwan

A second group of Chinese officials arrived in Taiwan for groundwork for the second round of cross-Taiwan Strait talks on a proposed economic cooperation framework agreement (ECFA). They will join Tanng Wei, head of the Department of Taiwan, Hong Kong and Macao Affairs under China's Ministry of Commerce and Wang Zheng, deputy chief of the Department of Economy under the Taiwan Affairs Office, in Taiwan since last week.

For more details on Talks on Taiwan-China proposed economic cooperation framework agreement to commence in Taiwan click here

BPI is ranked as Europe’s largest polyethylene film extruder producer

Leading industry consultants, AMI, has just published the eighth edition of its report on the Corporate performance and ownership among polyethylene film extruders in Europe. In the last edition, afteer 15 years at the top, British Polythene Industries, was pushed into second place in volume terms by the German group, RKW.

For more details on BPI is ranked as Europe’s largest polyethylene film extruder producer click here

DuPont Performance Polymers announces price increases

DuPont Performance Polymers has announced price increases for certain polymer products in Europe, Middle East and Africa (EMEA) effective April 15 or as contracts allow. These increases are necessary to maintain value and to support sustainable growth.

For more details on DuPont Performance Polymers announces price increases click here

Recycled plastics with coffee-aroma

A new, unique coffee-aroma polymer has been developed by Axion Polymers by blending mixed WEEE and post-consumer retail waste plastics with spent coffee grounds. The plastic recycling specialist belieeves this is the first time that waste from coffee has been used in this way.

For more details on Recycled plastics with coffee-aroma click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 29, 2010

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Crude prices for May delivery fell to US$80 a barrel on Friday, amid volatile trading, as investors scout for clear signals that the global ecconomic recovery will continue.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 29, 2010 click here

Persistent hike in American propylene outpaces other global markets

Spot propylene prices continued their strong upward movement in USA last week, leading producers to nominate hefty price increases on April contracts, as per Chemorbis. These increases have put US proopylene at a premium when compared with prevailing propylene prices in other major global regions, but has so far failed to trigger propylene imports by American buyers.

For more details on Persistent hike in American propylene outpaces other global markets click here

Hike in propylene spot prices in Europe needed to fill gaps in supply

Propylene spot prices in Europe need to rise further if the gaps in supply are to be filled, as per ICIS. Traders said that the market would begin to get some relief and return to some balance when sppot prices rise to levels that would open the arbitrage and attract deep-sea volumes away from the US market.

For more details on Hike in propylene spot prices in Europe needed to fill gaps in supply click here

Dow makes energy-saving insulation and air sealing products environment friendly

Dow Chemical has concluded its two-year project to transform its line of energy-saving insulation and air sealing products to a more sustainable manufacturing technology in North America. The iconic BBlue™ STYROFOAM™ insulation helps conserve energy and reduce carbon dioxide emissions from homes and buildings.

For more details on Dow makes energy-saving insulation and air sealing products environment friendly click here

Qatar, Total to invest jointly in energy sector in Africa

Total and Qatar have reached an agreement for joint investment in energy projects in Africa. The Memorandum of Understanding is said to cover the whole spectrum of the energy sector. No financial detaails of the agreement have been disclosed and the JV is also unspecified about the projects to pursue in Africa.

For more details on Qatar, Total to invest jointly in energy sector in Africa click here

Coastal microbes may offer a smart solution to clean up plastic contamination in the oceans

Coastal microbes may offer a smart solution to clean up plastic contamination, according to a new research. The researchers from the University of Sheffield and the Centre for Environment, Fisheries aand Aquaculture Science have shown that the combination of marine microbes that can grow on plastic waste varies significantly from microbial groups that colonize surfaces in the wider environment.

For more details on Coastal microbes may offer a smart solution to clean up plastic contamination in the oceans click here

BP to expand India operation with a 1 mln ton petrochemical plant for Rs 3,500 crore

British Petroleum (BP), one of the world's largest energy and petrochemical companies, plans to expand its India operation by setting up a 1 mln ton petrochemical plant. To be built at an investment oof Rs 3,500 crore, the plant may come up in Gujarat.

For more details on BP to expand India operation with a 1 mln ton petrochemical plant for Rs 3,500 crore click here

Rompetrol to expand HDPE capacity by 70% by March 2011

Rompetrol Petrochemicals, the petrochemical division of the Rompetrol Group, will increase the capacity of the high density polyethylene installation (HDPE) by more than 70% by March 2011, the total vvalue of the investment being estimated to approximately US$18 mln.

For more details on Rompetrol to expand HDPE capacity by 70% by March 2011 click here

IDB approves US$120 mln contribution to finance a refinery and petrochem project in Jubail

The Islamic Development Bank (IDB) has approved a US$120 mln contribution for financing a mega Jubail refinery and petrochemicals project, Kingdom of Saudi Arabia to be built at a total cost of US$12..

For more details on IDB approves US$120 mln contribution to finance a refinery and petrochem project in Jubail click here

Handshaking particles programmed to offer a type of architecture to enhance creation of synthetic materials

Physicists at New York University have created "handshaking" particles that link together based on their shape rather than randomly. Their work, reported in the latest issue of the journal Nature, marrks the first time scientists have succeeded in "programming" particles to join in this manner and offers a type of architecture that could enhance the creation of synthetic materials.

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Firm trend in propylene and BD, softening in ethylene beyond April in USA

Lifted mainly by tight supply resulting from a series of cracker outages in 2010, US olefins prices were on a sharp uptrend, as per ICIS. After demand collapsed during the worst economic crisis of 20008, olefins are moving at full speed in 2010, delivering the kind of return that seemed unimaginable after demand collapsed at the end of 2008.

For more details on Firm trend in propylene and BD, softening in ethylene beyond April in USA click here

Gasoil, fuel oil fall in Asia, naphtha rises in line with crude

Crude futures rose as they found support from a weaker US dollar, equity market gains, and upbeat economic data from Japan and South Korea. Gasoil and fuel oil swaps fell in Asia as naphtha rose in liine with a crude oil rise.

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Competitive PS source from Central Europe mulls €80 hike for April in Italy

PS offers from Central Europe are considered most competitive alternatives in the spot market through March, as sellers preferred to apply a smaller hike of €20/ton for regional offers in view of the persistently poor demand.

For more details on Competitive PS source from Central Europe mulls €80 hike for April in Italy click here

Lower feedstock PTA, MEG, PX contracts pull down benchmark PET prices in China

In China, domestic benchmark PET prices for April were announced with decreases while market players highlight that overall offer levels are in line with the theoretical costs based on the March feedsstock contracts despite spot prices for these feedstocks gaining some lost ground after the second half of last week, as per Chemorbis.

For more details on Lower feedstock PTA, MEG, PX contracts pull down benchmark PET prices in China click here

Polyolefin trade flows in 2008 show vulnerability of European producers over the next few years on rising pressure from Middle East imports

Volume of trade in Western Europe (intra-regional plus imports) for all grades of polyolefins and polyvinyl chloride (PVC) fell by between 3% and 18% in 2009 as per ICIS. Interestingly, at the same ttime, imports from the Middle East actually increased.

For more details on Polyolefin trade flows in 2008 show vulnerability of European producers over the next few years on rising pressure from Middle East imports click here

Oil prices rise after ending previous week at US$80

Crude prices for May delivery fell by over 50 cents to end the previous week at US$80 a barrel, amid volatile trading, as investors scout for clear signals that the global economic recovery will contiinue.

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JG Summit may revive plans to build Philippines’ first naphtha cracker on improving economy

JG Summit Holdings Inc. which will triple its cash from selling shares in its airline unit and reserve a record budget for expansion plans as a rebound in the economy is expected to increase consumer spending in Philippines.

For more details on JG Summit may revive plans to build Philippines’ first naphtha cracker on improving economy click here

38% of 6 mln tons of ethylene capacity coming onstream in China: China to reduce imports

Asia will add record naphtha cracking capacities in 2010 at a time when new Middle East plants are boosting output. 6 mln tons of capacity is expected to come onstream in this year, out of which 38% wwill come up in China alone.

For more details on 38% of 6 mln tons of ethylene capacity coming onstream in China: China to reduce imports click here

Resource-efficient PET foam core for the composite materials industry

Thanks to innovative technolo­gies, Armacell is now able to manufacture foam cores used in trans­port, wind turbine construction or shipbuilding, from the recyclate of PET bottles. So in future the coompany is going one step further and offering not just a fully re­cyclable foam core, but a product which is manufactured from a recycled raw material.

For more details on Resource-efficient PET foam core for the composite materials industry click here

LyondellBasell not part of Kazakhstan petrochemicals complex

Kazakhstan will commence the integrated petrochemical complex project in the Atyrau region on its own. Inability to find partners for the development and indecision n part of LyondellBasell on projectt participation since January, has compelled to company to start the development on its own.

For more details on LyondellBasell not part of Kazakhstan petrochemicals complex click here

PE producers forced to agree to steep discounts to achieve April sales

Asian PE producers have been forced to agree to steep discounts from March done deal levels to achieve sales for April. As per Chemorbis, sell offers to the Chinese market failed to not attract much bbuying interest after agreeing to large discounts on initial April offers, forcing producers to concede to an additional round of decreases to conclude deals.

For more details on PE producers forced to agree to steep discounts to achieve April sales click here

A repeat of extraordinary polymer import volumes of 2008 into China by Western companies unlikely in 2010

The US and China are currently unable to reach a compromise on the dispute over the Yuan's strength against the US dollar. The US President could succumb to domestic political pressure and introduce mmeasures to protect jobs, resulting in increased tariffs on Chinese imports.

For more details on A repeat of extraordinary polymer import volumes of 2008 into China by Western companies unlikely in 2010 click here

An outstanding flame retardant grade included in line of PLA-based materials

The demand for plastics obtained from renewable assets is growing indeed, and the introduction of a material range featuring bioplastics is thus mandatory for a reference compounder Italian polymer suupplier LATI Industria Termoplastici SpA.

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Despite gains in spot ethylene and VCM, US PVC offers fail to move higher in global markets

In testimony to the poor demand for PVC due to weak economic conditions (PVC is highly correlated to GDP growth), US PVC prices have failed to find get boosted by higher input costs in the country, ass per Chemorbis.

For more details on Despite gains in spot ethylene and VCM, US PVC offers fail to move higher in global markets click here

Domestic PE prices down revised in Indonesia

In Indonesia, domestic PE prices have moved south for the third consecutive week, bringing local offers down to levels last seen at the beginning of 2010, as per Chemorbis. Domestic producers reportedd reducing their prices by $50/ton for both LLDPE film and HDPE film while also cutting their offers for other HDPE grades by US$40-50/ton, citing softening prices in the import market along with sluggish demand.

For more details on Domestic PE prices down revised in Indonesia click here

PVC buyers in Italy anticipate price rollover for April

In Italy, some sellers particularly from Central Europe opened the month of March on a firm note asking for increases of up to €50/ton, in a bid to improve margins, as per Chemorbis. However, some Wesst European sources sustained February prices, offering competitive alternatives to regional buyers at the low end of the ranges.

For more details on PVC buyers in Italy anticipate price rollover for April click here

Formosa not in talks with Sinopec regarding investment in China

Taiwan's Formosa Plastics Group is not in talks with China Petroleum Corp (Sinopec Group) on any joint investments in China.
Earlier in the week, Formosa was reported to be planning to collaborate wwith Sinopec Zhenhai Refining & Chemical Co.

For more details on Formosa not in talks with Sinopec regarding investment in China click here

Saudi Aramco, Total to raise US$8 bln in debt financing for refinery and petrochemical project

Saudi Aramco and Total SA expect to raise US$8 bln in debt financing for a joint refinery and petrochemical project for Satorp in the “coming months”. The US$8 bln debt package includes the sale of Isslamic bonds, or sukuk.

For more details on Saudi Aramco, Total to raise US$8 bln in debt financing for refinery and petrochemical project click here

Aramco, Dow mull petrochem complex relocation to Jubail

Saudi Aramco and Dow Chemical are considering relocation of their planned US$20 bln plus petrochemical complex to Jubail or Ras Azzour from Ras Tanura. The complex at Ras Tanura was planned to producee 8 mln tpa of petrochemicals.

For more details on Aramco, Dow mull petrochem complex relocation to Jubail click here

Shell announces start up of ethylene cracker at SEPC in Singapore

With the commencement of on-specification ethylene production, Shell has announced the start up of the ethylene cracker at Shell Eastern Petrochemicals Complex (SEPC) in Singapore. The cracker is locaated adjacent to the Shell Pulau Bukom Refinery, which has been modified to enable it to supply the cracker with feedstock.

For more details on Shell announces start up of ethylene cracker at SEPC in Singapore click here

Continued recovery for petrochemical companies in the Gulf in 2010

Economic indicators point to continued recovery for chemical companies in 2010, including a positive development for producers in the Middle East, global chemical industry output is forecast to increaase 4.

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Crude oil futures fall as dollar strengthens vs the euro

The euro has plunged to its lowest level in 10 months on worries that Greece's debt situation would require help from the International Monetary Fund. As the US dollar has strengthened, oil prices havve dipped as a stronger dollar discourages investors from buying commodities priced in US dollars.

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Poor demand causes lower PVC import offers in Egypt

In Egypt, competitive prices from the local PVC producer EPC and distributors are affecting the already poor demand for imports as buyers prefer to wait in the sidelines before making import purchasess as per Chemorbis.

For more details on Poor demand causes lower PVC import offers in Egypt click here

Firmer April outlook for LDPE in Italy

Over the past week, supported by the firm energy markets, spot ethylene prices in Europe, which had been tracking a mainly stable path since the beginning of February, recorded a weekly jump of €25/toon, as per Chemorbis.

For more details on Firmer April outlook for LDPE in Italy click here

Initial PP, PE offers for April by SE Asian producers significantly reduced

Several producers in Southeast Asia have announced their initial April offers for both PP and PE to the regional market, with significant decreases. As per Chemorbis, in the PP market, a Thai producerr announced initial April offers with decreases of US$50-60/ton from March to US$1340-1350/ton for homo-PP injection and raffia, US$1360/ton for PP film, all on a CIF SEA, cash basis.

For more details on Initial PP, PE offers for April by SE Asian producers significantly reduced click here

Oil prices dip to US$81 on demand concerns on reports of rise in crude inventories

This week’s latest reports have shown a rise in crude oil inventories in USA, intensifying concerns of a demand recovery in industrialized nations as Europe struggles to manage Greece's debt crisis. TThe dollar strengthened against a basket of currencies, reduingc the appeal of commodities for investors.

For more details on Oil prices dip to US$81 on demand concerns on reports of rise in crude inventories click here

Patent granted to electrically conductive polymer, ElectroPhen

A materials patent has been granted for an electrically conductive polymer, ElectroPhen to cleantech materials startup Bac2. In its raw state, ElectroPhen is one billion times more conductive than othher polymers and its characteristics can be tailored to each application through the addition of graphite, metal powders, plasticisers and reinforcers.

For more details on Patent granted to electrically conductive polymer, ElectroPhen click here

A bio-based polymer roof coating that reduces load on heating and cooling systems

A new material made from cooking oil and polymer is used to produce a roof coating that morphs its optical properties – reflecting the sun’s rays on hot days and absorbing the rays when it’s cold. Thiis results in reducing the load on heating and cooling systems.

For more details on A bio-based polymer roof coating that reduces load on heating and cooling systems click here

UAE upgrading more naphtha into petrochemicals

Naphtha prices command a respectable premium over crude oil prices. However, these premiums shrunk during the recession and could narrow again as naphtha supplies are forecast to increase globally. Loow profit margins for naphtha producers have triggered major chemicals projects in the UAE.

For more details on UAE upgrading more naphtha into petrochemicals click here

Sinopec Maoming ethylene plant sees an improvement in output

Production at Sinopec Maoming Petrochemical Corp's ethylene facility was at a standstill for a period of two months. The ethylene facility was shut for regular maintenance and equipment repairs in Jannuary and February, resulting in large revenue loss.

For more details on Sinopec Maoming ethylene plant sees an improvement in output click here

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

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Crude oil prices ended the week of March 22, 2010 at a weaker note. Towards the end of the week, oil prices fell by over US$1.50- its largest one-day dip in three weeks, as the US dollar firmed against foreign currencies, negatively impacting investment flows into oil and other commodities.

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

Asian PVC producers announced offers for April to China

Two Asian PVC producers have announced their new PVC k67-68 offers to China for April, indicating rollovers.
A major Taiwanese producer announced new offers at US$1040/ton CFR China main port, subjeect to 6.

For more details on Asian PVC producers announced offers for April to China click here

Improving sentiment in China’s domestic polymer market as April approaches

Inside China, domestic offers for many polymer products deteriorated throughout March as slower-than-expected post-holiday demand burdened many sellers with excess stock levels which they have been stteadily working off throughout the month, as per Chemorbis.

For more details on Improving sentiment in China’s domestic polymer market as April approaches click here

Braskem mulls second green polyethylene plant after first plant start up by end 2010

Latin America's largest petrochemicals company - Braskem, is mulling the option of a second plant to produce polyethylene from sugar cane-based ethanol, upon completion of the first plant start up aroound October at the Triunfo plant.

For more details on Braskem mulls second green polyethylene plant after first plant start up by end 2010 click here

Suspension of PTT's gas-separation plant in Map Ta Phut to impact revenue targets

PTT Group's polymer marketing arm- PTT Polymer Marketing, has made a downward revision of its revenue target for 2010 from Bt71 bln to Bt50 bln due to the suspension of PTT's sixth gas-separation plannt in Map Ta Phut.

For more details on Suspension of PTT's gas-separation plant in Map Ta Phut to impact revenue targets click here

A single, multifunctional polymer material that can decontaminate biological and chemical toxins

In an ongoing effort to mirror the ability of biological tissues to respond rapidly and appropriately to changing environments, scientists from the McGowan Institute for Regenerative Medicine have synnthesized a single, multifunctional polymer material that can decontaminate both biological and chemical toxins.

For more details on A single, multifunctional polymer material that can decontaminate biological and chemical toxins click here

Nanoparticles that can seek out its target after being injected into the bloodstream

Nanoparticles that successfully deliver RNA interference in cancer patients have been developed by US scientists. The team has created a nanoparticle drug that smuggles its RNA-interfering payload passt the body's defence systems and drop it on to cancer cells - the first example of a nanoparticle that can seek out its target after being injected into the bloodstream.

For more details on Nanoparticles that can seek out its target after being injected into the bloodstream click here

GAIL seeks assured gas supply from Qatar for US$1.3 bln Qatari petrochem plant with RIL

India’s state owned oil major GAIL India Ltd has sought assured natural gas supply from Qatar to set up a US$1.3 bln petrochemical plant with Reliance Industries in the gas-rich nation. Last year’s prreliminary discussions with Qatar Petrochemical Company (QAPCO) are being followed by detailed discussions about the project.

For more details on GAIL seeks assured gas supply from Qatar for US$1.3 bln Qatari petrochem plant with RIL click here

Spot styrene prices gain momentum in Asia, Europe with higher crude, benzene

In Asia, spot styrene prices rose by US$30/ton FOB Korea over the past week in line with higher oil and benzene prices. As per Chemorbis, crude oil prices gained US$2.40/bbl in the last week, pushing Asian benzene prices higher by US$38/ton over the past week despite the slight softening on Friday.

For more details on Spot styrene prices gain momentum in Asia, Europe with higher crude, benzene click here

February petrochem naphtha imports in Japan rise by over 80% y-o-y

Japan's naphtha imports for petrochemicals in February 2010 increased by 84% vs February 2009. Imports of naphtha for ethylene production amounted to
2,012,598 kilolitres (1,396,060 tons) last month,, according to the Ministry of Economy, Trade and Industry.

For more details on February petrochem naphtha imports in Japan rise by over 80% y-o-y click here

Kuwait Petroleum sells 80,000 tons of spot naphtha at premiums similar to last month

Kuwait Petroleum Corp (KPC) has sold nearly 75,000-80,000 tons of spot naphtha for April lifting at premiums in the low US$20/ton above Middle East quotes on a free-on-board (FOB) basis. These levels of premiums are similar to previous levels despite talk of a softer market ahead.

For more details on Kuwait Petroleum sells 80,000 tons of spot naphtha at premiums similar to last month click here

Increased vigilance needed from ethylene producers in US and Europe as new supplies commence from Middle East, China

2008 was a tough year for ethylene producers. Demand from key customers such as the construction and automotive sectors was poor as Western economies limped to recovery, as per ICIS. Margins were weakk and the lowest seen for several years in the US, Europe and Asia.

For more details on Increased vigilance needed from ethylene producers in US and Europe as new supplies commence from Middle East, China click here

Oil prices have largest one day fall in three weeks

Oil prices fell by over US$1.50- its largest one-day dip in three weeks, as the US dollar firmed against foreign currencies, negatively impacting investment flows into oil and other commodities. Oil pprices dipped to US$80.

For more details on Oil prices have largest one day fall in three weeks click here

Hyundai to hand over polypropylene plant to PetroVietnam by the end of May

Plant contractor Hyundai plans to hand over a 150,000 tpa polypropylene plant in Dung Quat oil refinery complex to the investor PetroVietnam. About 99.4% of construction has been completed and a triall production is scheduled for end of April.

For more details on Hyundai to hand over polypropylene plant to PetroVietnam by the end of May click here

HMC Polymers to increase annual capacity of polypropylene at plant in Map Ta Phut by 300,000 tons

HMC Polymers will inaugurate its PP plant in Map Ta Phut after capacity expansion in Q2-10. Annual polypropylene production capacity has been increased by 300,000 tons in addition to the existing capaacity of 450,000 tons in a bid to serve growing demand for polypropylene both domestically and internationally.

For more details on HMC Polymers to increase annual capacity of polypropylene at plant in Map Ta Phut by 300,000 tons click here

LyondellBasell reorganization delays finance of Kazakh petrochemical plant

The Development Bank of Kazakhstan, which was to finance a US$6 billion natural-gas chemical plant has decided to delay the funding as the project’s strategic partner, LyondellBasell Industries seeks to reorganize.

For more details on LyondellBasell reorganization delays finance of Kazakh petrochemical plant click here

Maintenance turnaround planned at Tuntex Petrochemicals’ PTA plant in Tainan

Taiwan’s Tuntex Petrochemicals plans to undertake a maintenance turnaround at its 450,000 tpa PTA plant located in Tainan in May or June, 2010.


For more details on Maintenance turnaround planned at Tuntex Petrochemicals’ PTA plant in Tainan click here

April naphtha exports from India reduce as IOC halves exports on start of new cracker

April naphtha exports from India are expected to fall by 50,000-100,000 tons from levels of 900,000 tons seen in March as IOC halves its naphtha exports for the month. Export volumes from India for Maarch have been at the highest level seen in 2010.

For more details on April naphtha exports from India reduce as IOC halves exports on start of new cracker click here

Guangzhou Petrochemical shuts 160,000 bpd CDU unit after fire

Guangzhou Petrochemical (a unit of Sinopec) has shut its 160,000 bpd crude distillation unit (CDU) after a fire when four pumps leaking oil were ignited. The cause of the leakage is still under investtigation.

For more details on Guangzhou Petrochemical shuts 160,000 bpd CDU unit after fire click here

Indian producers reduce domestic PP, PE offers

According to distributors in India, domestic producers in the country announced price significant reductions on their PP and PE offers to the local market as per Chemorbis. Domestic producers loweredd their offers for all PE grades by INR5000/ton (US$110/ton) while offers for all PP grades were reduced by INR3000/ton (US$66/ton).

For more details on Indian producers reduce domestic PP, PE offers click here

Excess stocks in China depressing sentiments in global PE markets

In China, traders and distributors are slowly working off excess stock levels that were built up based on overly optimistic demand growth forecasts amid high crude oil prices seen at the start of the year, as per Chemorbis.

For more details on Excess stocks in China depressing sentiments in global PE markets click here

Another force majeure tightens PP prices in Europe

Technical issues have pushed INEOS to declare force majeure from its Grangemouth PP plant in the UK on 16 March. This has compounded an existing tight supply caused by shortage of propylene at LyondelllBasell’s Carrington, UK, that prompted a force majeure on PP supply earlier in the week, as per ICIS.

For more details on Another force majeure tightens PP prices in Europe click here

Indonesia’s Tri Polyta plans 30% capacity hike at PP plant

In anticipation of growing domestic demand, Indonesia’s largest polypropylene producer - PT Tri Polyta Indonesia, is to increase PP capacity to 480,000 tpa at Cilegon, West Java. The expansion projectt was embarked upon in Q3-09at an investment outlay of US$30 mln, and is scheduled to be complete by March 2011.

For more details on Indonesia’s Tri Polyta plans 30% capacity hike at PP plant click here

Sudden shutdown at Haldia Petrochemicals’ revamped 676,000 tpa naphtha cracker

An unspecified problem has compelled a sudden shutdown at Haldia Petrochemicals’ newly revamped 676,000 tpa naphtha cracker. The duration of the shutdown is not certain.
HPL resumed operations arounnd late January 2010, after a 75 day shutdown that started in late October for 30% capacity expansion.

For more details on Sudden shutdown at Haldia Petrochemicals’ revamped 676,000 tpa naphtha cracker click here

Resin’s high-end performance for food handling equipment saves time and money

SABIC Innovative Plastics’ Ultem* polyetherimide (PEI) resin offers the highest performance across a balance of properties of virtually any thermoplastic in the global plastics industry. Time and timee again the material proves to be the ideal recipe for top-end food service and food processing applications.

For more details on Resin’s high-end performance for food handling equipment saves time and money click here

Dow Chemical to pursue investment in Thailand, no plan to shift to other AEAN countries

Dow Chemical plans to continue with its commitment to pursue its investment in Thailand for long-term and sustainable growth. Dow is undeterred by the Map Ta Phut crisis, and has no plan to shift to oother ASEAN destinations, thanks to the company having a strong local partner in Siam City Cement (SCG).

For more details on Dow Chemical to pursue investment in Thailand, no plan to shift to other AEAN countries click here

Royal Dutch Shell to officially inaugurate Pulau Bukom petrochemical complex

Royal Dutch Shell will officially inaugurate its Pulau Bukom petrochemical complex - Shell Eastern Petrochemicals Complex (SEPC), on May 4. Estimated to cost US$3 bln, the project has been almost fivee years in the making.

For more details on Royal Dutch Shell to officially inaugurate Pulau Bukom petrochemical complex click here

Saudi Aramco mulls change of location of petrochemicals complex planned at Ras Tanura

Saudi Aramco is mulling a change in the location of its US$17 bln petrochemicals complex planned at the Gulf port of Ras Tanura, as per Meed. The company is faced with major difficulties with the currrent site and is working on a feasibility study for other potential locations.

For more details on Saudi Aramco mulls change of location of petrochemicals complex planned at Ras Tanura click here

April PE offers indicate rollovers to decreases in China’s import market

In China, April PE offers from overseas producers indicate rollovers to decreases for the next month. As per Chemorbis, a major Taiwanese producer elected to keep LLDPE c4 film and HDPE film prices att March levels at US$1430/ton and US$1370/ton, respectively, on CFR China main port, subject to 6.

For more details on April PE offers indicate rollovers to decreases in China’s import market click here

LDPE prices could see further hike for April in Italy

In Italy, March business is being conducted with increases of €20-60/ton for LDPE on the back of tight supplies though the monthly ethylene contract settled at a rollover, as per Chemorbis. Many buyerrs have no option but to accept the hike requests as they are unable to satisfy their LDPE needs easily.

For more details on LDPE prices could see further hike for April in Italy click here

Sluggishness in PVC demand across the globe

Global PVC markets are witnessing lackluster demand. Sluggishness in PVC demand since the beginning of 2010 has been seen in the Mediterranean, while markets of Turkey and Egypt have been so slow thatt they have remained indifferent to March increases in Asia, as per Chemorbis.

For more details on Sluggishness in PVC demand across the globe click here

An eco-friendly range of soundproofing materials

A new eco-friendly range of soundproofing materials that can reduce the impact of noise in a variety of flooring applications is the latest innovation to emerge from a long-term collaboration between Huntsman Polyurethanes and manufacturer WPT GmbH.

For more details on An eco-friendly range of soundproofing materials click here

Change in Saudi Arabian pricing for ethane, LPG, naphtha could affect competitiveness of investments

Saudi Arabian feedstock pricing arrangements for ethane, liquefied natural gas (LPG) and naphtha could change in 2011, affecting the competitiveness of existing and future investments as per ICIS.
Etthane is currently still priced at around 75 cents/mBTU and there is a formula for LPG, based on a discount from prevailing CFR Japan naphtha prices.

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Protective packaging demand expected to rise 6.2% pa

US demand for protective packaging is forecast to rise 6.2% pa to US$5.2 bln in 2014, reflecting an upswing in manufacturing output as the US economy recovers from The Great Recession, says a new studdy by Freedonia Group.

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OPEC measures will prevent global oil markets getting too tight

OPEC will take measures to prevent global oil markets getting too tight, as stated by Saudi Arabia, indicating that it will not withdraw from placing more barrels into the market to suppress runaway ooil prices.

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NatureWorks plans to sell a range of polymer-grade lactides

NatureWorks LLC will now offer for sale a range of polymer-grade lactides. Produced from lactic acid, these value added intermediates are used to produce Ingeo™ biopolymer, the first commercial-scale biopolymer that comes 100% from annually renewable resources instead of oil.

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Water droplet formation on a polymer can be controlled by exposing the surface to short pulses of light

Water droplet formation on a polymer can be controlled by exposing the surface to short pulses of light as researched by scientists at the Singapore Institute of Manufacturing Technology of A*STAR andd Nanyang Technological University, Singapore.

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Mold-Masters® opens state-of-the-art production facility in South India

Mold-Masters® announced today that it has opened a state-of-the-art production facility in Coimbatore, India to complement the Global Design Centre opened in December 2006. This new facility, now commmencing operations, symbolizes a significant step in Mold-Masters’ investment and capabilities in the growing Indian market.

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Report finds recycling of biopolymers most effective form of waste disposal

A report for UK government refutes persistent claims that recycling is a waste of time, calls for better facilities and an increase in incineration. Recycling is almost always the best way to get rid of waste, even when it is exported abroad.

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Indian Oil Corp, BPCL offer naphtha for April

Indian Oil Corp (IOC) has sold about 60,000 tons of April-loading naphtha at premiums of US$23-24/ton to IOC's price formula on a free-on-board (FOB) basis. These premium levels are similar to its preevious deal.

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PVC sellers less optimistic about likely direction of Southeast Asia markets

PVC demand has been relatively stronger than demand for other polymer products in Southeast Asia, keeping prices on a steady to firm trend even as prices for other polymers have begun to slip in line with weaker demand from China.

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Offers for local, import PS move lower in China

In China, domestic and regional producers have reduced their offer levels this week in response to softening demand and bearish market sentiment, as per Chemorbis. In the local market, two B-grade prooducers reported concluding some deals with discounts of CNY700-800/ton (US$103-117/ton) from their initial offer levels, with deals done ex-warehouse China, cash inc VAT at US$1352-1377/ton without VAT for GPPS and with the same terms at US$1440-1452/ton without VAT for HIPS.

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Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 15, 2010

CRUDE OIL
Oil prices have dipped below US$81 a barrel in the week of March 15, 2010 on release of data showing a drop in US consumer confidence that hass renewed concerns about energy demand in USA.

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Egyptian Petrochemicals Holding Co receives bids for US$2 bln petrochemicals complex

Egyptian Petrochemicals Holding Co has said it has received bids for a contract to build a US$2 bln petrochemicals complex at Alexandria, on Egypt's northern Mediterranean coast as per Meed. The list of bidders include Saipem, Tecnimont, Toyo Engineering & Construction, and Samsung Engineering & Construction.

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Stronger Chinese yuan could benefit domestic petrochem industry

China can import more volumes of petrochemical raw materials at less cost if it were to abandon pegging the yuan to the US dollar and allow the Chinese currency to appreciate, as per ICIS. This will hhowever, affect the export-driven industries.

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Braskem and Grupo Idesa ink US$2.5 bln deal with Pemex for petrochemical complex in Mexico

Brazilian petrochemicals giant Braskem SA and Mexico’s Grupo Idesa SA de CV have formalized an agreement with Pemex Gas y Petroquímica Básica to build a US$2.5 bln petrochemical complex in Coatzacoalccos, Mexico, to include an ethylene cracker and three polymerization plants, as per Plastics News.

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Egyptian PVC producer maintains offer levels

A source from the local PVC producer EPC reported that the producer elected to maintain their offer levels for PVC k67-68 for the rest of the month at EGP5600/ton (US$1022) on ex-Alexandria, cash not including VAT basis, as per Chemorbis.

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Faced with high propylene costs, PP producers struggle in Asia

PP producers in Asia continue to struggle to conclude deals at prices sufficient to cover their theoretical production costs based on spot propylene prices as per Chemorbis. Slower than expected post--holiday demand in China has pushed PP buyers throughout the region to the sidelines in anticipation of retreating prices on slackening demand from China.

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Faced with high propylene costs, PP producers struggle in Asia

PP producers in Asia continue to struggle to conclude deals at prices sufficient to cover their theoretical production costs based on spot propylene prices as per Chemorbis. Slower than expected post--holiday demand in China has pushed PP buyers throughout the region to the sidelines in anticipation of retreating prices on slackening demand from China.

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Russia’s biggest PET plant under construction at Kaliningrad

Russian oil and chemicals group JSC Alco-Naphtha is constructing a 240,000 tpa PET facility-Russia’s biggest PET plant to date in the western city of Kaliningrad, as reported by PRW. Technology and thhe automated equipment are being supplied by German company Uhde Inventa-Fischer of Berlin.

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Large Volumes of PE re-exported to Latin America from China

Afflicted by high inventory levels and buyer’s anticipation of the long-awaited flood of new supplies, amid labour shortages affecting processors and manufacturers and anxiety over whether the governmment will take more economic cool-down measures; China’s polyethylene (PE) traders have started re exporting PE to Latin America as per ICIS.

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Development of new types of biodegradable, biocompatible plastics

Scientists from IBM and Stanford University have detailed discoveries that could lead to the development of new types of biodegradable, biocompatible plastics. The result of a multi-year research effoort, the breakthrough also could lead to a new recycling process that has the potential to significantly increase the ability to recycle and reuse common PET and plant-based plastics in the future.

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Taiwan’s plastics machine sector sees surge in orders in first three months of 2010

Production of plastics and rubber machinery in Taiwan was down by over 30% in 2009 but the past three months has seen a surge in orders, with machine builders having to hire extra personnel to keep paace according to David Wu of the Taiwan Association of Machinery Industry (TAMI; Taipei), as reported by Plastics Today.

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Thai petrochem majors remain unperturbed despite protests, FDI flows in jeopardy

About 60 projects in the Rayong province, where Mab Ta Phut is located, are under court injunction on environmental grounds since September 2009. With respect to the environmental issues at Mab Ta Phuut, members of the United Front for Democracy against Dictatorship (UDD) took to the streets, giving the government an ultimatum to dissolve the parliament at noon on Sunday or face massive demonstrations.

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