http://www.plastemart.com/plasticnews.asp Daily news on polymer and oil prices, business, exhibition, trade fairs, plant shutdowns, mergers and acquisition, capacity expansion and product launches from the plastics industry in India and the world en-us Wed, 1 Sep 2010 14:03:23 GMThttp://www.plastemart.com/images/homepage/logo.rss.gif http://www.plastemart.com/plasticnews.asp 8831Visit plastemart.com CRUDE OIL Crude oil prices have risen to hover around US$75 in the week of August 30, 2010 on a pledge by Federal Reserve Chairman to safeguard economic recovery. However, by the end of week, oil prices s...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18369 Wed, 1 Sep 2010 12:47:06 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18369 Several traders have roundly turned down new US spot export offers as they were deemed too high for most import markets, as per Platts. Formosa is rumoured to have offered HDPE blow molding at 55 cents/lb (US$1213/mt), LLDPE at 57 cents/lb, and HDP...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18368 Wed, 1 Sep 2010 11:55:25 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18368 Plants at Map Ta Phut have been idle for a year, and construction at some of the new plants halted, because companies failed to carry out environmental and health assessments. 76 projects, worth an estimated US$9 bln, were suspended by a court ruling...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18367 Wed, 1 Sep 2010 11:54:54 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18367 Westlake Chemical Corp is to commence construction of a new chlor-alkali plant at its vinyls manufacturing complex in Geismar, Louisiana, at an investment of US$250-300 mln. Capacity will include 250,000 electrochemical units (ECU's) annually, bring...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18366 Wed, 1 Sep 2010 11:52:02 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18366 Westlake Chemical Corp is to commence construction of a new chlor-alkali plant at its vinyls manufacturing complex in Geismar, Louisiana, at an investment of US$250-300 mln. Capacity will include 250,000 electrochemical units (ECU's) annually, bring...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18365 Wed, 1 Sep 2010 11:46:21 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18365 This week, spot propylene prices in Asia have firmed up by nearly US$30/ton on FOB Korea basis, with the total increase amount reaching almost US$100/ton since the beginning of the start, as per Chemorbis. Prices are moving up despite sliding crude o...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18364 Wed, 1 Sep 2010 11:44:50 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18364 LyondellBasell Industries NV is terminating all its operations in Iran, and also plans to cease all business with Syria and Sudan. Much of the company's business in the three countries involves licensing technology for polymer production. This decisi...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18363 Wed, 1 Sep 2010 10:21:44 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18363 Iran's Pars Petrochemical Company will continue to ship up to 30,000 tons of styrene monomer (SM) to China, despite the Assaluyeh plant being shut for over a week, as per Platts. Sufficient stockpile produced prior to the shutdown of its 600,000 tpa ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18362 Wed, 1 Sep 2010 10:19:59 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18362 Leading Japanese refiner- JX Nippon Oil and Energy Corp. has shut a 39,000 bpd naphtha hydro desulphuriser and 200,000 tpa No.2 paraxylene unit at its Chita plant after a boiler fire as per Reuters. Both the units are expected to restart this week. ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18361 Wed, 1 Sep 2010 10:19:11 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18361 DuPont has announced that production for Ethylene Vinyl Acetate (EVA) resins has begun at its joint venture, Beijing Hua Mei Polymer Company Ltd. in Beijing. The facility is DuPont?s first operation to make EVA in China. ?With local production, we h...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18360 Wed, 1 Sep 2010 10:18:29 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18360 In Southeast Asia, import PVC business for September is being settled with increases from August done deal level in accordance with developments in the Chinese and Indian markets, as per Chemorbis. Demand from both China and India has been strong ove...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18359 Tue, 31 Aug 2010 13:49:34 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18359 Praxair (Thailand) Co., Ltd., a subsidiary of Praxair, Inc., will build a new, energy-efficient 300 tons of liquid carbon dioxide per day capacity carbon dioxide plant in Map Ta Phut. The plant is scheduled to come on stream in Q4-2011. Praxair (Thai...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18358 Tue, 31 Aug 2010 13:29:59 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18358 Chinese consortium is in a deal with National Iranian Petrochemical Company (NIPC) to invest US$1 bln in petrochemical projects in Iran, as per Mehr news agency. It is the first time Chinese companies participate in the construction or development of...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18357 Tue, 31 Aug 2010 13:29:00 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18357 Naphtha cracking margins in Asia entered positive territory for the first time since May 31, driven by a sharp rebound in spot ethylene prices, as per Platts. Late Thursday, Northeast Asian naphtha cracking margins were pegged at +$0.5/mt, compared...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18356 Tue, 31 Aug 2010 13:25:09 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18356 Steam cracker operators in the US saw strong gains in margins from light feeds as ethylene prices surged early this week, as per Platts. Spot ethylene gained over a penny/lb on Monday and over 2.5 cents/lb on Tuesday on the back of stronger ethane an...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18355 Tue, 31 Aug 2010 12:22:58 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18355 Belgian petrochemicals producer Tessenderlo has posted net profit of ?27.5 mln for Q2-2010, reversing a net loss of ?101.5 mln in Q2-09 on improved revenues and restructuring gains, as per Platts. Revenue rose to ?646.5 mln from ?531.2 mln a year ago...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18354 Tue, 31 Aug 2010 12:22:27 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18354 Crude oil gained in morning trade, expanding gains following reassurances by Federal Reserve chairman on the US economy. However, recent economic data from the United States points to a weak economic recovery. Investors insight that the US economic r...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18353 Tue, 31 Aug 2010 11:48:04 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18353 For the fourth consecutive month, most of China's petrochemical imports fell in the month of July. The dip has been triggered by a continued slowdown in the country's economy, weak downstream and new capacity additions from Sinopec, including its Tia...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18352 Mon, 30 Aug 2010 14:38:55 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18352 Ineos Nova and DuPont have announced price increases from next month. Ineos Nova will hike the price of its general purpose and expanded polystyrene by ?50/ton and high impact polystyrene by ? 65, with effect from September 1, due to expected feeds...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18351 Mon, 30 Aug 2010 14:38:27 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18351 Taiwan?s Minister of Economic Affairs has stated that though the planned Kuokuang petrochemical plant has met with opposition on environmental concerns, its construction seems imperative to ensure the competitiveness of Taiwan's petrochemical sector....... http://www.plastemart.com/plasticnews_desc.asp?news_id=18350 Mon, 30 Aug 2010 14:37:55 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18350 Oil prices have risen to hover around US$73 a barrel, moving up with regional stock markets. Benchmark crude for October delivery rose to US$72.9 on the Nymex. Reports released in USA last week, indicated weak numbers for new home sales and durable ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18349 Mon, 30 Aug 2010 13:53:21 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18349 Keyuan Petrochemicals, Inc., has entered into land use right transfer agreements with the local government of Ningbo, Keyuan has acquired four plots of land adjacent to the Company's current facilities totaling approximately 1.2 mln sq ft. The total...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18348 Mon, 30 Aug 2010 13:52:45 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18348 DuPont has commenced production of polyvinyl fluoride (PVF) polymer resin at Fayetteville, North Carolina. PVF is a critical raw material used to make DuPont Tedlar PVF film, that is an essential component of photovoltaic (PV) backsheets. Increasing ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18347 Mon, 30 Aug 2010 13:47:39 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18347 Huyndai Engineering and Construction Company (HEC) has handed over Vietnam?s first petrochemical plant to Vietnam Oil and Gas Group. The US$234 mln Polypropylene plant in the central province of Quang Ngai has a capacity to produce 150,000 tpa of PP...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18346 Mon, 30 Aug 2010 13:46:29 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18346 In a move towards strategic growth, LyondellBasell is moving ahead with strategic growth, adding another 320,000 tons of HDPE capacity in Europe, as per Plasticsnews. Output from the M?nchsm?nster, Germany plant is even better than current bi-modal m...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18345 Mon, 30 Aug 2010 13:45:48 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18345 Saudi Basic Industries Corporation (SABIC) has signed an agreement with Lurgi GmbH, for the technology licensing and engineering that will allow SABIC to produce oleo-chemicals at its affiliate, Saudi Kayan Petrochemical Company (Saudi Kayan), follow...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18344 Mon, 30 Aug 2010 13:45:03 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18344 The use of UNIPOL? Polypropylene (PP) Technology from Dow Basic Plastics Licensing and Catalysts continues to grow at a rapid pace in China. China Shenhua Coal to Liquid and Chemical Baotou Coal Chemical Company is the latest company to start up a pl...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18343 Fri, 27 Aug 2010 13:23:19 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18343 A series of seemingly temporary factors has kept global polyolefins markets very tight as per ICIS. Few long existing factors have also contributed to supply constraints, making it easier to absorb new capacities. * Reduced feedstock availability ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18342 Fri, 27 Aug 2010 12:40:19 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18342 Spot monomer prices in Asia have moved up this week despite the persistent declines in crude oil prices tanking crude oil to US$73/barrel this week, as per Chemorbis. This discrepancy in direction of upstream markets has generated confusion among pol...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18341 Fri, 27 Aug 2010 12:39:12 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18341 Bharat Petroleum Corp Ltd (BPCL) has cancelled a tender to sell 15,000-20,000 tons of naphtha for Aug. 26-27 loading, because specifications of the parcel did not meet industry standards. The state-owned refiner is considering blending back the volum...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18340 Fri, 27 Aug 2010 12:38:05 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18340 A fire compelled Sinopec Corp. to shut a furnace at an 800,000 tpa ethylene plant at Qilu, East China. Shutdown duration is unknown. The accident was caused by an oil leak from a pipeline shut in No.7 furnace at Qilu in eastern Shandong province. ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18339 Fri, 27 Aug 2010 11:38:18 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18339 Japan?s Mitsui Chemicals has suspended operations at a naphtha cracker with 553,000 tpa ethylene capacity. The Ichihara plant in Chiba prefecture faced a problem with equipment, leading to the shutdown. A weekend start is not expected. Restart is lik...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18338 Fri, 27 Aug 2010 11:37:28 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18338 Additional cracker outages this week leading to a scramble for spot material have propelled ethylene spot prices to three month highs of US$1000/ton in Southeast Asia. As per ICIS, a deal for a 3,000 ton cargo loading H1 September was reported at US$...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18337 Fri, 27 Aug 2010 11:36:51 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18337 A new blood-clotting material has been developed by a team from University of Maryland in College Park. This is a hydrogel, a Jell-O?like mixture of water and the fibrous polymer acrylamide, with positively charged nitrogen-containing groups. Experim...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18336 Fri, 27 Aug 2010 11:35:12 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18336 Canada?s largest petrochemical producer Nova Chemicals, plans maintenance at its Joffre chemical plant (Alberta), where it houses three ethylene plants. Flaring associated with the maintenance is expected to continue until ?late afternoon?. ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18335 Thu, 26 Aug 2010 17:02:22 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18335 US polypropylene maker ConocoPhillips has declared force majeure (FM) on its copylene impact copolymers deliveries in August and September, as per Platts. An equipment breakdown coupled with feedstock shortages has caused the supply constraints. The ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18334 Thu, 26 Aug 2010 17:01:40 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18334 Naphtha prices in Asia continued to dip, falling for the fourth straight session to settle at nearly a month-low, and physical cracks have eased from an 11-week high on muted spot demand in South Korea, as per Reuters. A brief lull was seen after aro...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18333 Thu, 26 Aug 2010 17:01:03 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18333 Jacobs Engineering Group Inc. has received a contract from IOT Infrastructure and Energy Services Limited (IOT) to provide engineering services for Indian Oil Corporation Ltd.'s (IOCL) Delayed Coker Unit (DCU) project. The DCU will be built at IOCL's G...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18332 Thu, 26 Aug 2010 14:06:16 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18332 The US Environmental Protection Agency (EPA), the U.S. Justice Department, and the United States Attorney for the Southern District of New York have announced that Chemtura Corporation has agreed to resolve its liabilities at contaminated sites acros...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18331 Thu, 26 Aug 2010 14:05:36 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18331 Crude oil for October delivery mounted to US$72.9 on the Nymex from yesterday?s 72.5. Oil prices are on the rise for the second day in line with a recovery in equities amid investors? theory that crude prices declined in excess of the outlook for the...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18330 Thu, 26 Aug 2010 14:04:17 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18330 The much awaited PP and PE offers from Middle Eastern suppliers, that are taken as a reference for future direction of the market trend, are slowly surfacing for September in China and Turkey at higher levels despite the shadow of falling crude oil p...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18329 Thu, 26 Aug 2010 14:03:44 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18329 Persistently weakening crude oil prices over the past week could hamper Asian and Middle Eastern producers? efforts to raise polyethylene (PE) prices for September shipments, as per ICIS. Weakening oil prices could fuel strong buyer resistance to the...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18328 Thu, 26 Aug 2010 12:43:40 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18328 Thailand?s PTT and Siam Cement are optimistic of mobilizing all but one of its petrochemical projects in Map Ta Phut that have been halted as a result of the courts suspension orders on environmental concerns. Suspension is expected to be revoked on ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18327 Thu, 26 Aug 2010 12:42:04 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18327 CRUDE OIL Oil prices continue to move south in the week of August 23, 2010. The dip has been persistent amid sell-off in stocks and a strengthening dollar. On the economic front, the US Economic Cycle R...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18326 Thu, 26 Aug 2010 11:39:54 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18326 South Korea?s Honam Petrochemical will pay about US$1.25 bln in cash to acquire Titan Chemicals Corporation, as per Plasteurope. Following an initial takeover of 72.6% of the shares held by Titan head and the state-run Permoladan Nasional, Honam plan...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18325 Wed, 25 Aug 2010 14:16:12 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18325 Qatar's production of polyethylene for September shipments is expected to be down, as per Platts. This reduction in low density polyethylene allocation from Qatar Petrochemical Company (Qapco) in September, is expected to increase tightness in Asia. ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18324 Wed, 25 Aug 2010 14:15:37 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18324 Shell Chemicals announced the successful first turnaround at the CSPCL - "Nanhai" petrochemicals joint venture complex in Guangdong, China. Nanhai is a joint venture with China National Offshore Oil Company (CNOOC). The turnaround was completed while...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18323 Wed, 25 Aug 2010 14:15:00 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18323 South Korean companies have revealed their financial results for Q2-2010 over the week. Some petrochemical companies saw considerably better figures for the April-June period, as per Chemorbis. A statement from the Central Bank that South Korea?s eco...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18322 Wed, 25 Aug 2010 13:58:42 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18322 Asia?s regional markets have had a fall amid recent concerns about the pace of the global economic recovery. These concerns have tanked oil prices to US$72 a barrel that have fallen more than US$9 since the beginning of August. Crude for October deli...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18321 Wed, 25 Aug 2010 13:58:09 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18321 Saudi Arabia's Petro Rabigh expects to achieve on-spec production at its fluid catalytic cracker at Rabigh by mid week, as per Platts. Though in the process of restarting, the 900,000 tpa propylene capacity FCC, has yet to attain on-spec production. ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=18320 Wed, 25 Aug 2010 13:57:35 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=18320