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May 26th, 2009
ISO Certification for GLS Thermoplastic Elastomers’ China Manufacturing Plant
GLS Thermoplastic Elastomers, a PolyOne business and global leader in high-performance, custom-formulated thermoplastic elastomers (TPEs), recently announced receiving an ISO 13485:2003 certification for its manufacturing plant located in the Suzhou Industrial Park in Suzhou, China. ISO 13485:2003 is the standard that represents the requirements for a comprehensive management system used in the design and manufacture...
May 25th, 2009
Borouge’s to Strategically Invest in China and the Middle East; Expects High…
In spite of the current global downturn, Borouge — a joint venture between the Abu Dhabi National Oil Company (ADNOC) and Borealis — is continuing with its major investment plans in China, and elsewhere in the Middle East and Asia. Borouge is currently tripling its polyolefins manufacturing capacity to 2 mln tpa by 2010 under...
May 22nd, 2009
Chemical Imports: India Initiates Probe Against China
Seeking to protect the domestic industry from dumping by Chinese companies, India has initiated investigations to consider imposition of countervailing duty on imports of key chemical, sodium nitrite, from the neighbouring country. The Directorate General of Anti-dumping and Allied Duties (DGAD) under the Commerce Ministry has initiated an investigation into a complaint by domestic firms...
May 21st, 2009
Leading Plastics Solutions Provider Plans Major Expansion into China
Borouge, a leading provider of innovative, value creating plastics solutions, is gearing up its operations to support its customers all over China with major investments here and in Singapore and the Middle East. Borouge is a joint venture between the Abu Dhabi National Oil Company (ADNOC) and Borealis, a leading provider of chemical and innovative...
May 20th, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
CRUDE OIL
Crude oil settled at US$59 at the end of the week of May 18, 2009, as Nigerian militants threatened to block waterways used for energy exports and an explosion and fire affected production at Sunoco Inc. refinery. Mid week, prices dipped as the US Labor Department reported that new jobless claims rose to a...
May 19th, 2009
JAPAN’S SEKISUI PLASTICS POSTPONES AUTO PLASTIC EXPANSION PLANS
JSekisui Plastics Co. (TSE:4228) is shelving plans for about a year to increase production of a plastic used in the floors and bumpers of automobiles due to production cuts by automakers.
The midsize chemical firm had intended to boost production capacity for a special material that it makes by blending polyethylene and polystyrene.
Its Shiga plant...
May 18th, 2009
Mitsubishi and Asahi Kasei to Merge Ethylene Production at Mizushima
Mitsubishi Chemical Corp and Asahi Kasei Corp have agreed to combine their ethylene production at Mizushima industrial complex in Okayama Prefecture. A joint venture has been planned to be set up to operate the two ethylene crackers at Mizushima in this year. The joint entity expects to stop operations at one of the crackers and...
May 15th, 2009
ACN Demand from ABS Sector to Grow - Tongsuh Petrochemicals
Tongsuh Petrochemicals, South Korea operates two production lines to manufacture Acrylonitrile (ACN), each having production capacities of 70,000 tons per year and 230,000 tons per year, respectively.
A maintenance schedule to turnaround both the plants have been scheduled in October and is expected to last for a month. To get confirmation of the news, Fibre2fashion spoke...
May 14th, 2009
Recovering India Tempts Lanxess to Invest
Lanxess’ Indian subsidiary of is on track to start up its new Jhagadia site, Gujarat state, in 2010. With an investment of some €50m, the site will have an ion exchange resins plant and a rubber chemicals plant, which is being relocated from Thane, Maharashtra state. The plants will employ 230 workers in total.
“The Jhagadia...
May 13th, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
NAPHTHA
Naphtha prices in Asia have risen in line with rising crude oil prices and a buoyant crude oil market outlook in the week of May 11, 2009. Open-spec naphtha values for H2-June shipment settled at US$475/MT CFR Japan, with a persistent bullish trend.
ETHYLENE
Bouyant feedstock movement has not had a major impact on ethylene prices in...
May 12th, 2009
Celanese to Augment Acetic Acid Production Using New Technology at China Facility
Global chemical company Celanese Corporation (USA) recently announced to increase its cost savings estimates to approximately US$250 mln by 2010, compared with its previously announced estimates of between US$100 - 120 mln. The company said it will achieve this by streamlining production with demand among other measures. Steven Sterin, senior vice president and chief financial...
May 11th, 2009
Unenthusiastic Market Outlook for Polypropylene in Asia
Under the dual pressures of subdued demand from China and estimated increased volumes of supplies from India and Middle East, has dampened market outlook for polypropylene in Asia. Supplies are expected to increase from India and Middle East in June, as Reliance plans to commence commercial production at its 900,000 tpa plant, along with scheduled...
May 7th, 2009
Asian Phenol-acetone Supplies to Tighten May-June on Turnarounds
Phenol-acetone supplies in Asia will tighten over May and June as Japanese, South Korean and Chinese producers take their plants offline for scheduled maintenance this month.
South Korea’s Kumho P&B Chemicals will shut its three phenol-acetone lines in Yeosu from May 8 to May 22. The company was operating its lines at 85% of production capacity...
May 6th, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
NAPHTHA
Naphtha prices in Asia rose to US$465/MT in the week of May 4, 2009 in line with rising crude values. However, rising supplies from India and Europe are keeping market outlook muted in the region. This week, H2-June delivery open spec naphtha rose to US$465/MT CFR Japan.
ETHYLENE
Ethylene prices dipped to US$675/MT in Asia in the...
May 5th, 2009
BASF Reconsiders Timing of Major China Chemical Plant
Chemical giant German BASF on Tuesday said it was reconsidering the timing of a new major chemical plant in southwestern China, as the ongoing global economic crisis limited demand.
In 2006, the world’s largest chemical company said it planned to erect a 400,000-tonne-per-year MDI plant in the municipality of Chongqoing, with startup slated for 2010.
MDI is...
May 4th, 2009
Leading Chinese Oil Refiners Could Add 12.9 Million Barrels of Capacity in 10 Years
Chinese industry insiders estimate that in the next 10 years, the country will see 12.9 million barrels per day (BBL/d) of additional oil-refining capacity. By contrast, China’s consumption of refined oil in the same time span is only expected to increase by 3% annually. As a result, experts say China could be setting itself up...
Apr 30th, 2009
China North East Petroleum Announces Preliminary 2009 First Quarter Production Results
China North East Petroleum Holdings, Limited (OTC Bulletin Board: CNEH; ‘CNEH’), a leading oil producing company in Northern China, today announced preliminary oil production results for the first quarter of 2009.
The Company’s crude oil production in the first quarter of 2009 totaled 221,688 barrels, a 93% increase compared to 114,862 barrels in the first quarter...
Apr 29th, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
NAPHTHA
Weakening demand from derivative markets has caused naphtha prices to dip marginally below US$450/MT in Asia in the week of April 27, 2009. Open-spec naphtha prices for H1-June delivery settled at US$446/MT CNF Japan.
ETHYLENE
Despite robust demand from downstream polyethylene markets, FOB Korea ethylene prices stabilized at US$690/MT as the supply scenario improved in Asia in...
Apr 29th, 2009
Celanese to Hike Prices for Ethyl Acetate, n-Butyl Acetate, Acetic Anhydride in Asia
Celanese Corporation (USA), a leading global chemical company, has announced to increase list and off-list selling prices for all grades of ethyl acetate, n-butyl acetate and acetic anhydride, effective May 1, 2009, or as contracts allow. In Asia (except China), the company will increase prices for ethyl acetate and n-butyl acetate by US$150/mt each and...
Apr 24th, 2009
Japan to Invest US$8 bln in Petrochemical Projects in Venezuela
Japan and Venezuela have inked agreements to cooperate in 12 projects. Japan will invest US$33.5 bln over the next five years in Venezuela’s petrochemical and oil and gas sectors. This will be allocated as follows: US$8 bln in petrochemical projects, US$1.5 bln in crude oil refining, US$10 bln in liquefied natural gas projects.
Source: Plastemart
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