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 Sat, 13 Mar 2010 12:40:05 GMThttp://www.plastemart.com/images/homepage/logo.rss.gif http://www.plastemart.com/plasticnews.asp 8831Visit plastemart.com Trading activity in Asia has dipped considerably this week as buyers anticipate a drop in regional PE in line with falling prices in China?s domestic market. As per Chemorbis, high stock levels inside China provide further support to buyers? case for...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17348 Fri, 12 Mar 2010 13:47:35 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17348 Based on Russia's plentiful feedstock resources, petrochemical major Sibur is studying the construction of large-scale petrochemical and polymer production as per ICIS. Since domestic demand is limited, the projects would be export-oriented, targetin...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17347 Fri, 12 Mar 2010 13:11:50 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17347 Spain's Repsol is to shut down its petrochemical units producing styrene, propylene oxide and glycols at the refinery indefinitely. It has also halted the hydrocracker at its Puertollano refinery for 3 months due to low refining margins. Since the cr...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17346 Fri, 12 Mar 2010 13:11:16 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17346 Japan's Mitsui Chemicals Inc expects to restart its 553,000 tpa naphtha cracker in Chiba around late March after repairs. The cracker was originally shut on Feb. 28 due to a problem and has failed to restart earlier this month, resulting in a loss of...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17345 Fri, 12 Mar 2010 13:08:31 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17345 In a move that will help the company make value-added products from surplus naphtha, Indian Oil Corp has started a naphtha cracker at the Panipat refinery. Feed cutting that commenced will be followed by first on-spec product in four to five days. Ab...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17344 Fri, 12 Mar 2010 13:07:49 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17344 Recycling of non-bottle rigid plastics in USA increased by 11% to over 361 mln lbs, in 2008 from 2007, as per American Chemistry Council (ACC). Non-bottle rigid plastics includes high density polyethylene (HDPE) tubs, polypropylene (PP) cups and othe...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17343 Fri, 12 Mar 2010 13:07:10 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17343 New York's main contract, light sweet crude for April delivery, settled at $US82.2, while London's Brent North Sea crude for April rose to $US80.4. After spiking as high as US$83 a barrel, oil prices settled above US$82, oil prices have increased on...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17342 Fri, 12 Mar 2010 13:05:13 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17342 The Reserve Bank of India (RBI) has placed an order with Australia for the supply of one billion pieces of Rs 10 polymer notes to India this year. Polymer notes are non-cellulosic in nature and thus cannot lead to the growth of microbes. If they be...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17341 Fri, 12 Mar 2010 13:04:43 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17341 Minerals used in compounding polymers represent a high value growing market for the mining industry worldwide, with developing countries showing rapid growth in industries like packaging and automotive. The core basic materials like calcium carbonate...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17340 Fri, 12 Mar 2010 13:03:47 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17340 Faced with difficulties in locating sufficient quantities of import PVC, buyers in Malaysia are seeking alternative import suppliers. As per Chemorbis, a PVC compounder has been unable to locate Indonesian PVC this week after securing 70 tons of mate...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17339 Thu, 11 Mar 2010 13:44:14 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17339 Softer market sentiments and weak demand amid mounting inventory pressures in China have compelled domestic PP and PE sellers to start the week with lower prices a sper Chemorbis. Thus they have chosen to reduce their offer levels to prompt better bu...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17338 Thu, 11 Mar 2010 13:43:25 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17338 The Stop Global Warming Association and 35 villagers from Rayong have filed a petition against the construction of 9 industrial projects in Map Ta Phut, contending that these projects have not yet complied with the Constitution's Article 67 (2). The ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17337 Thu, 11 Mar 2010 13:04:06 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17337 BDP Kanoo Chemical Logistics, to be based in Dammam, Saudi Arabia, is a newly formed joint venture to serve the logistics and transportation needs of the Middle Eastern petrochemical industry. A joint venture will provide the services needed for the ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17336 Thu, 11 Mar 2010 13:01:40 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17336 Despite uncertainties in demand from Japan, following Mitsui Chemicals' cracker outage, naphtha prices as well as cracks have rebounded in Asia. Interestingly, ethylene supplies continue to grow with the start up of new crackers in Singapore and Thai...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17335 Thu, 11 Mar 2010 13:01:04 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17335 Indian Oil Corp has sold 30,000 tons of naphtha by tender for March 31-April 2 lifting to a Northeast Asian trading house at a premium in the low US$20/MT range, pegged to its? price formula on a free-on-board (FOB) basis. Naphtha premium realsied by...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17334 Thu, 11 Mar 2010 12:34:07 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17334 LLDPE is one of the most important plastics. This market is recovering well from the economic crisis: ?We expect to see significant growth in sales and distribution starting in 2010?, says Oliver Kutsch, president of Ceresana Research. Linear low...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17333 Thu, 11 Mar 2010 12:12:56 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17333 Crude oil prices witnessed a marginal dip as the US dollar strengthened and the dollar index rose 0.19%. However, crude oil prices continued to persist above US$81 a barrel- lingering at their highest point in eight weeks. April delivery light, sweet...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17332 Thu, 11 Mar 2010 12:10:20 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17332 In the first week of March, a couple of West European sources offered rollovers, although the rest of the market started to seek price hikes of ?20-50/ton in a bid to improve margins, as per Chemorbis. Spot prices at ?760-780/ton for k67 and ?770-800...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17331 Wed, 10 Mar 2010 14:43:54 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17331 With an increase in styrene contract prices in March vs February contract level, PS hikes between ?50-55/ton have emerged in the Italian market March. As per Chemorbis, the monthly monomer contracts were settled with a ?42/ton (US$57/ton) increase fo...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17330 Wed, 10 Mar 2010 14:43:25 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17330 The American Chemistry Council recently released the 2008 report on the collection and recycling of post-consumer non-bottle rigid plastics across the United States. The report, found that in 2008, over 361 million lbs of post-consumer rigid plastics...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17329 Wed, 10 Mar 2010 12:52:22 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17329 Though most discarded plastic water and beverage bottles can be recycled, the resulting second-generation plastic is generally unusable for making new plastic bottles. Second-generation PET is often used to make carpets or fiberfill for coats and sle...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17328 Wed, 10 Mar 2010 12:51:29 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17328 In a bid to meet rising domestic demand, a fresh round of expansion is currently underway at Sinopec-BASF partnered BASF-YPC Co Ltd complex at a total outlay of US$1.4 bln. The move conforms with China's stimulus plan for the petrochemical industry...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17327 Wed, 10 Mar 2010 12:50:15 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17327 Naphtha prices in Asia have fallen as demand has weakened in the region with the delay in start up of Japan?s Mitsui Chemicals 553,000 tpa cracker in Chiba. A leak in the unit has shut the cracker since last Sunday, scheduled to be restarted by the w...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17326 Wed, 10 Mar 2010 12:20:43 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17326 China's number one oil refiner Sinopec is mulling a partnership with ExxonMobil and Saudi Aramco to expand it's existing integrated oil refinery and petrochemical complex in Fujian with a refinery to process 12 mln tons of crude and 1 mln tpa ethylen...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17325 Wed, 10 Mar 2010 12:20:03 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17325 CRUDE OIL In the week of March 8, 2010, benchmark crude for April delivery rose to US$81.50 on the Nymex while Brent crude rose to US$79.89 on the ICE futures exchange. Data from the Government?s unemploy...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17324 Wed, 10 Mar 2010 10:25:39 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17324 At a time when ethylene prices have dropped in major Asian markets, prices have soared in USA. Soaring ethylene prices in USA have begun to have an impact on spot VCM markets, which are in turn likely to lead to changes in global PVC pricing, as per ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17323 Tue, 9 Mar 2010 13:33:45 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17323 Domestic polyethylene prices are facing downward pressure in China as a result of poorer than expected demand and weakening ethylene markets. As per Chemorbis, a major producer in the East reduced offers for LLDPE film by CNY300/ton (US$44/ton) and b...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17322 Tue, 9 Mar 2010 13:33:01 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17322 The Lorraine Regional Council, Arkema and two university laboratories have signed a research agreement to support a research program into "biobased acrylics", the challenge of the project being to offer new "green" acrylic acid derivatives and develo...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17321 Tue, 9 Mar 2010 12:23:04 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17321 Bankrupt petrochemicals maker LyondellBasell has charted a restructuring plan as an option after it rejected a US$14.5 bln bid from Indian energy major Reliance Industries Ltd. The offer from Reliance Industries was not sufficiently valuable to Lyond...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17320 Tue, 9 Mar 2010 12:21:33 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17320 In a bid to diversify into the downstream petrochemical business and add additional revenue streams, Philippine?s biggest oil refiner Petron Corp. plans to indirectly acquire a stake in a polypropylene plant in Limay, Bataan. Petron has inked a deal ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17319 Tue, 9 Mar 2010 12:20:45 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17319 Restricted avails due to a dearth of arbitrage cargoes has pushed up the premiums realized by India's Oil and Natural Gas Corp (ONGC) and Reliance Industries. ONGC has realized a premium of US$27/ton on a 35000 ton parcel by tender for April 1-2 loadi...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17318 Tue, 9 Mar 2010 12:19:47 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17318 Japanese ethylene production has spiked by 27.6% to 593,200 tons in February 2010 vs 465,000 tons in February 2009. Propped up by robust demand from China, ethylene production has increased for the seventh consecutive month, as per the Ministry of Ec...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17317 Tue, 9 Mar 2010 12:15:55 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17317 In a bid to reassert itself as a trading force in the next few years, Mitsui plans to restart oil trading in Singapore by as early as next year. After a 3 year interruption at Singapore, Mitsui is looking to expand the outfit to around 60 staff by 20...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17316 Tue, 9 Mar 2010 12:15:15 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17316 A way to transform polyethylene into a material that conducts heat just as well as most metals, yet remains an electrical insulator has been discovered by an MIT team. The new process causes the polymer to conduct heat very efficiently in just one di...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17315 Tue, 9 Mar 2010 12:14:03 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17315 Oil prices have fallen as forecasts for growing crude inventories toned down bullish sentiments about global economic recovery. Light sweet crude for April delivery traded at US$81.4 while Brent crude was at US$80 in Asia. This week, as the markets ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17314 Tue, 9 Mar 2010 12:13:03 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17314 In view of the still fragile PS demand in Italy, an official distributor of a Central European producer decided to ask for a smaller increase for March as larger increases will not find acceptance in the market, as per Chemorbis. In Italy?s PS market...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17313 Mon, 8 Mar 2010 13:59:37 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17313 Middle Eastern producers have offered March PE to Turkey and Egypt at different pricing policies, particularly for the tightly available LLDPE in Turkey. As per Chemorbis, a regional producer has issued US$10-20/ton increases on CIF Turkey LLDPE offe...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17312 Mon, 8 Mar 2010 13:58:47 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17312 The preliminary work on a petrochemical project in Jubail with Saudi Arabian Mining Co (Maaden) and South Korea's Daelim Industrial Co will cost about US$41 mln. Both the partners have inked a deal to launch the Jubail project, a petrochemical joint ...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17311 Mon, 8 Mar 2010 13:02:04 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17311 INEOS Olefins and Polymers Europe has restarted its 320,000 tpa linear low density polyethylene (LLDPE) plant at Grangemouth, UK, but maintained the force majeure for some time, as per ICIS. An "agglomeration", or build-up of product in the reactor, br...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17310 Mon, 8 Mar 2010 13:01:36 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17310 Azerbaijan's national chemical operator state-run company Azerikimya, seems close to realization of project of construction of a petrochemical complex and a fertilizer factory in Azerbaijan. France's Societe Generale has launched organization of fina...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17309 Mon, 8 Mar 2010 12:51:16 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17309 Rising US ethylene prices have given a significant bump to LyondellBasell?s olefins earnings, but continue to squeeze polyethylene (PE) margins as per ICIS. For most of 2010, ethylene prices have surged, peaking with trades at 70 cents/lb or more ove...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17308 Mon, 8 Mar 2010 12:18:46 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17308 Eurocontrol Technics Inc., a Canadian public company, through its wholly owned subsidiary Global Fluids International S.A. (GFI), has inked its first petrochemical marking contract in Brazil with Braskem. Braskem is the largest Latin American petroch...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17307 Mon, 8 Mar 2010 12:18:02 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17307 The Chinese government?s lack of enthusiasm to achieve an aggressive GDP growth has brought down optimism for petrochemicals demand in 2010. For 2010, the government had set a very conservative GDP growth target of 8% for China, down from an actual 8...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17306 Mon, 8 Mar 2010 12:17:08 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17306 Naphtha prices and naphtha cracks dipped in Asia on expectations of weaker demand for May cargoes as compared with April. Buying interest for April parcels is expected to remain strong as Taiwan, South Korea and Japan?s till date spot naphtha purch...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17305 Mon, 8 Mar 2010 11:47:24 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17305 Karnataka state government, through the Karnataka State Industrial Investment and Development Corporation (KSIIDC) Ltd., has confirmed its decision not to pursue claims for the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) project...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17304 Mon, 8 Mar 2010 11:46:47 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17304 Benchmark crude for April delivery rose by over a dollar to US$81.50 on the Nymex and in London, Brent crude rose to US$79.89 on the ICE futures exchange. Data from the Government?s unemployment report, showed jobless claims and unemployment number...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17303 Mon, 8 Mar 2010 11:41:41 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17303 A plastic bag manufacturer in Malaysia reported to have received offers for HDPE film for re-export purposes from a Chinese trader this week at US$1350/ton CIF Malaysia, cash, for Iranian and Middle Eastern origins as per Chemorbis. Though the seller...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17302 Fri, 5 Mar 2010 18:11:59 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17302 When sellers concluded pre-holiday business in China, the market was rife with expectations of stronger demand and firmer prices pos-holiday in the last week of February. As per Chemorbis, after two weeks of reopening, the post-holiday market outlook...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17301 Fri, 5 Mar 2010 18:11:09 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17301 Aqueous suspensions of carbon nanotubes (CNTs) containing individual tubes offer interesting perspectives for a number of new applications which depend on a high electrical or thermal conductivity, respectively. In particular, this applies to multifi...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17300 Fri, 5 Mar 2010 12:51:27 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17300 After news of another build in US crude inventories, oil prices have dipped to slide down to US$80 in line with a strengthening dollar. Oil has fallen from seven-week highs as the dollar gained around 0.25% against a basket of currencies, and the eur...... http://www.plastemart.com/plasticnews_desc.asp?news_id=17299 Fri, 5 Mar 2010 12:50:51 GMT http://www.plastemart.com/plasticnews_desc.asp?news_id=17299