Reliance's VCM plant in unplanned shutdown

It is reported that Reliance Industries' 200,000 tpa VCM plant at Gandhar has been shutdown earlier this week due to a fire. This will result in partial slowdown in downstream PVC production. The VCM plant is estimsted to restart over the weekend.

Ineos Nova to shutter polystyrene plant

In a move that is intended to remove high-cost capacity, Ineos Nova has decided to shutdown its polystyrene facility located at Belpre, Ohio by early next year; and take a US$65-million charge. The shutdown, set for before January 31, 2008, will reduce the company's North American polystyrene production capacity by 12%. Ineos Nova is controlled by Canada's Nova Chemicals Corp and Britain's Ineos.

Mitsubishi Chemical to invest 1.6 bln yen in Thailand, India

Japan Polychem Corp., a subsidiary of Mitsubishi Chemical Corp., plans to invest a total of 1.6 billion yen, on one plant each in Thailand and India to make polypropylene-based resin.The Thai plant, to be constructed in Chonburi Province, will have the capacity to produce 10,000 tpa and will commence in October 2008.

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Oil prices retreat after spiking by over four dollars as Canada-U.S. pipeli...

Oil prices jumped over four dollars on Thursday after pipeline carrying crude oil from Canada to the U.S. Midwest caught fire. Two workers who were fixing the underground pipeline were killed when fumes apparently escaped and ignited the blaze in Clearbrook, Minnesota. The pipeline has the capacity to supply 17% of domestic crude imports.

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IOC trying to squeeze in expansion of Haldia refinery despite land crunch

Indian Oil Corp. Ltd. has managed to secure only 82 acres of the extra 210 acres that it had sought to acquire. IOC had been eyeing the adjacent land leased to Hindustan Fertiliser Corp. But a government decision to revive the closed plants of HFC and Fertiliser Corp of India, has forced IOC to be content with just 82 acres that HFC has surrendered to the Kolkata Port Trust.

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Siam Cement, Dow to build petrochemical plant

Siam Cement-Thailand's largest industrial conglomerate and Dow Chemical have agreed to build a petrochemical plant in Thailand at an investment outlay of US$315 mln. The plant, a 50:50 venture between the two partners, will have a capacity to produce 350,000 tpa of linear low density polyethylene (LLDPE). Commercial production is estimated in H1-2010.
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Mismanagement charges made by Haldia's own board members

Haldia Petrochemicals Ltd's (HPL) reputation is being ripped apart on charges of mismanagement made by its own board members.HPL's vice chairman Purnendu Chatterjee, in a 'privileged and confidential' letter, has revealed mismanagement that may result in a Rs 1,273 crore loss to the company.

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Basell acquires PP compound maker Solvay Engineered Polymers

Solvay has signed a stock purchase agreement with Basell to sell its subsidiary Solvay Engineered Polymers (SEP), a leading supplier of polypropylene compounds. This transaction will be subject to relevant regulatory approval, and is estimated to be completed early in 2008.

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BASF to raise plasticizer capacity at Ludwigshafen

Strong customer demand from all over Europe has prompted BASF to plan an increase in production capacity of oxo alcohols and plasticizers at Ludwigshafen. Plasticizer capacity will be hiked by 40,000 to 300,000 tpa, by Q2-08. Capacity of oxo alcohols will be increased by 80,000 tons to rise to 390,000 tpa to be built up stepwise through to the end of Q1-09.

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US REACH Conference to reflect response to EU Chemicals Legislation

Smithers Rapra Technology (SRT) Ltd., a subsidiary of U.S.-based independent testing, research and consulting organization, The Smithers Group, will host its second international conference on REACH April 15-17, 2008, in Boston in association with sister company, Springborn Smithers Laboratories.

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Surging naphtha prices affect bottom line of ethylene makers

Surging naphtha prices have affected the bottom line of ethylene makers. Producer margins, that have entered negative territory, have affected cracking rates at plants across Asia. Very high prices of liquefied petroleum gas (LPG) - the alternative feedstock in ethylene cracking, have rendered substitution difficult.

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High Performance Polymers Industry grows from US$1 bln to over US$7 bln

Over the past 20 years the high performance polymer (HPP) industry has grown from $1 billion to over $7 billion. As overall global demand is increasing, the HPP space is filling out with new products and participants, leading to increasing competition. Shifting markets, new applications, globalization, changing alignment of key players in the space and new technologies all combine to make the HPP industry highly dynamic.

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World Cumene/Phenol and Polycarbonate Analysis

Chemical Market Associates, Inc. (CMAI) has completed a study on world Cumene/Phenol & Polycarbonate Analysis. The analysis comprises eleven years of study: five years of history, the current year, and five years of forecast. Some key issues examined in this analysis include

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Global Styrene market in the midst of change

The imminent start up of the first of a series of new cost advantaged Middle Eastern styrene units is expected to change the status quo in the styrene market, as per a report by Chemical Market Associates, Inc. (CMAI).

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Columbia to set up integrated petrochemical and plastic cluster by 2010

Ten Colombian and overseas companies will be part of an integrated petrochemical and plastic cluster at an investment outlay of $150000 mln. The initial investment of US$150 mln will be spent on construction of infrastructure. By 2010, an additional US$50 mln investment will be needed for the plants of locators, which includes Sanford, Aditivos y Servicios Industriales, Surtiminas, Plasticos Rimax, Truher, Ciplas, Glormed Colombia and Polibarq.

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Gazprom's petrochem arm signs JV with Dow to set up JV

Gazprom's petrochemical division, Sibur Holding, has signed a memorandum of understanding (MOU) to set up a joint venture with Dow Chemicals. The deal will allow the Russian company access to new petrochemical facilities set up by Dow in Germany.

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ABS

Market for ABS remained lackluster and stagnated at US$1770/MT in Asia in the week of November 26, 2007 as buyers preferred to wait and watch. This stagnancy in the market was despite low levels of buying from China, and unrelenting supplier offers on the back of rising costs of feedstock butadiene and ACN. Buyers want to benefit from a cut in import tariffs from 1 January, 2008, hence they are deferring purchases until the New Year.

PS

Restrained demand from buyers pressured downward market movement in Asia, as prices dipped to US$1470/MT in Asia in the week of November 26, 2007. Buyers preferred to wait and watch in anticipation of downward adjustment of market prices despite rising upstream naphtha and SM values. Very few deals were concluded as the gap between suppliers' prices and buying intentions widened.

POLYMERS - PVC

PVC markets were lackluster and stagnated at US$955/MT in Asia in the week of November 26, 2007, on lack of movement in the market. Interestingly, buying interest from China this week was perceived better than the previous few weeks as buyers began restocking. Japanese suppliers continue to offer material at higher values than Taiwanese major despite low bids from China. Chinese buyers continue seeking a further down-adjustment in prices in line with Formosa's offers despite a downward revision of prices. PVC prices are anticipated to bottom out in November, after which they will head north, on expected revival of demand from China, as buyers build up their inventories from December prior to starting long Lunar new year holiday. Demand from non Asian countries also improved this month.

POLYMERS - Polypropylene

Polypropylene prices spiked to US$1420/MT in Asia in the week of November 26, 2007 on the back of limited availabilities in the region. Offers from Indian producers as well as South East Asian suppliers were heard upto US$1430/MT CFR China for yarn and injection grade and at US$1450/MT CFR China for IPP grade. Prices are anticipated to rise in the weeks of December 2007 as most sellers have held onto firm offers in anticipation of further hike in prices.