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Jan 29th, 2009
3% drop in Dec naphtha imports in Japan
As compared to last month’s figures, naphtha imports of Japan’s petrochemical sector fell by 3% in the month of December. Imports of naphtha for ethylene production totaled to 1,070,821 tons in December as compared to 1,098,172 tons recorded in November as per the Ministry of Economy, Trade and Industry.
Source: Plastemart
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Jan 28th, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
CRUDE OIL
Crude oil prices have risen to hover under US$46/barrel in the week of January 26, 2008. Friday witnessed a 3 dollar surge ahead of the Lunar New Year holidays, and also reflected expectations that crude stockpiles will ease as OPEC members strictly implement production cutbacks. However, oil ended the week with a dip...
Jan 27th, 2009
Chinese Plastic Food Packaging Industry Experienced Challenges in 2008
In China, the food and beverage plastic packaging market has experienced impressive growth over many years. It is mainly due to the replacement of traditional packaging materials, rapid growth in the food industry, and the improvements in polymer properties and processing technology. In 2007, the sales revenue of plastic food and beverage packaging was approximated...
Jan 26th, 2009
Butadiene Prices on the Way Down to 30¢/lb
Spot market prices for butadiene have dropped 68.5% since September to 45¢/lb this month, according to Purchasingdata.com. However, early buys for February deliveries are being reported as low as 30¢, according to sister website ICISPricing.com. That would bring the price of this important industrial chemical used as a monomer back to where it was in...
Jan 23rd, 2009
Sinopec Reports 4.5% Rise in 2008 Refining Throughput
China Petroleum and Chemical Corp.(Sinopec), the nation’s largest oil refiner, said Friday that it processed 168.8 million tons of crude oil in 2008, up 4.49 percent year-on-year.
The company, which is also a leading oil producer, said in a preliminary report that its crude oil output rose 1.76 percent to 296.8 million barrels.
Gasoline output...
Jan 22nd, 2009
Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia
CRUDE OIL
Crude oil prices ended the week of January 19, 2009 on a lower note than last week. Friday saw oil prices rebounding on concerns of OPEC production cuts on one hand, and release of data by the International Energy Agency’s showing an unexpected sharp decline in global demand forecasts, on the other....
Jan 20th, 2009
Formosa Petrochemical Increases Utilization at Ethylene Plants
Formosa Petrochemical Corp., Taiwan’s only publicly traded oil refiner, increased utilization at its No. 2 and No. 3 ethylene plants after demand improved.
The company is using 90 percent to 95 percent of the units, Lin Keh-yen, a spokesman, said by telephone from Taipei today. That compares with 80 percent to 85 percent early January.
Ethylene...
Jan 19th, 2009
PVC Pipe Makers Poised For Growth
Polyvinyl chloride (PVC) pipe manufacturers will be among the major beneficiaries of the agro-oriented annual budget and the new trade policies. The average growth in PVC consumption over the past five years has been around 10 per cent.
Finolex Industries executive director Saurabh Dhanorkar said: “The annual Budget has talked about an allocation of Rs...
Jan 16th, 2009
China oil demand seen rising 1.1 pct in ‘09 - IEA
China’s oil demand is likely to rise a mere 1.1 percent this year, compared with estimated growth of 4.2 percent in 2008, the International Energy Agency said on Friday. It cut its forecast for China’s demand by 270,000 barrels per day — roughly the amount of oil consumed by Switzerland. The IEA said in its...
Jan 15th, 2009
Samsung Petrochemical, PSE to jointly develop high-performance technologies…
Leading Korean producer of purified terephthalic acid (PTA) - Samsung Petrochemical Company (SPC) and Process Systems Enterprise (PSE), providers of gPROMS modeling technology and process optimization services, have signed an agreement for joint development of new high-performance technologies for PTA production. Under the agreement, PSE’s advanced model-based optimization techniques will be combined with SPC’s PTA...
Jan 14th, 2009
Japan Dec ethylene output falls 24.0 pct yr/yr
Japanese ethylene production fell 24.0 percent in December from the same month a year earlier, government data showed on Wednesday, reflecting heavy output cuts by many firms amid slow demand.
Ethylene output totalled 508,200 tonnes in December, compared with 668,500 tonnes a year earlier and 537,600 tonnes in November 2008, the Ministry of Economy, Trade and...
Jan 13th, 2009
China XD Plastics Retains CCG Investor Relations
China XD Plastics Company Ltd. (”China XD Plastics” or the “Company”), formerly known as NB Telecom, Inc. , engaged in the development, manufacturing, and distribution of modified plastic, primarily for use in automobiles, today announced that it has retained CCG Investor Relations to manage and execute its investor relations program.
China XD Plastics, through its operating...
Jan 12th, 2009
China Polypropylene market report for 2007-2008
Global Polypropylene (PP) production capacity reached 46.982 mln tons in 2007, increased by 3 mln tons compared to the year of 2006, with the newly-added production capacity mainly from Middle East as per a new report by companiesandmarkets.com. The report states that in 2007, China’s PP production capacity reached 7.15 million tons, increased by 400,000...
Jan 9th, 2009
15 kinds of chemical substances, including 8 polymers in REACH blacklist
15 kinds of chemical substances including eight polymers have found their way into the European Commission’s REACH blacklist.
DEHP, DBP & BBP (PVC and other polymer resin production phthalate plasticizers);HBCDD (flame retardants used in polystyrene production); MDA (used in the production of MDI polyurethane manufacturing); SCCPs (rubber, paint, sealants and adhesives production of flame retardants);...
Jan 8th, 2009
Price trends of oil, polymer feedstock and commodity polymers in Asia for
CRUDE OIL
Crude oil ended the week of January 5, 2009 at a higher note. Light, sweet crude for February delivery rose to US$47 on the New York Mercantile Exchange as tensions mounted when Israel amplified a ground offensive against Hamas militants in Gaza. Thousands of Israeli troops backed by tanks and helicopter gunships surrounded...
Jan 7th, 2009
China plans tariff reduction on Polystyrene imports from Singapore
China plans to reduce tariff on Polystyrene import from Singapore from 6.5% to 5% in 2009, and to 0% in 2010. Singapore follows Hong Kong, and will become the second Asian economy that enjoys 0 export tax to mainland China.
Total Polystyrene imports from Singapore to Mainland China amounted to 82,500 tons in 2007, ranking...
Jan 6th, 2009
Reliance Petroleum to start up new polypropylene plant after Feb
India’s Reliance Petroleum Limited plans to start up a 900,000 mt/year polypropylene plant at its newly commissioned 580,000 b/d Jamnagar refinery in Gujarat after February, a source close to the company said late Monday.
“The plant has not started yet but it could be anytime after February,” the source said.
A spokesman for RPL last...
Jan 5th, 2009
Japan’s Toray to develop CFRP for auto sector in Europe
Japan’s Toray Industries, Inc. recently announced an establishment of development and production base for carbon fiber reinforced plastics (CFRP) in Europe in a move aimed at expanding its business in the automobile sector. Toray will make equity participation (investment ratio: 21%) in ACE Advanced Composite Engineering GmbH, a German advanced composites manufacturer in December. The...
Dec 30th, 2008
A new-generation copolyester that is tough and offers an alternative to bis…
Eastman Chemical Company, worldwide manufacturer and marketer of chemicals, fibers and plastics announced that its customer Gamila Products has unveiled a new collection of tea and herbal infusers named. The product line is made with Eastman Tritan™, a new-generation copolyester that balances the properties of easy processing, clarity, dishwasher durability, toughness, and heat and chemical...
Dec 29th, 2008
S Korea to invest $5.4 bil in gas storage, distribution assets
South Korea will spend Won 6.9 trillion ($5.4 billion) over the next 14 years to expand the country’s natural gas storage and distribution infrastructure, the energy ministry said Monday.
Under the plan, the country will transform its offshore gas field into a storage facility with a capacity of 1.7 million mt, or 3.7 million kiloliters, of...