10. Mar. 2010
In China, local PE markets are facing downward pressure as a result of poorer than expected demand and weakening ethylene markets. A major producer in the East reduced their offers for LLDPE film by CNY300/ton ($44/ton) while also cutting their offers for HDPE film by CNY200/ton ($29/ton), citing poor demand and rising stock levels as the reasons for their price decreases. The producer's new offers stand at CNY11400/ton ex-warehouse East China, cash inc VAT ($1427/ton without VAT) for LLDPE film and at CNY10300/ton with the same terms ($1289/ton without VAT) for HDPE film.
Meanwhile, another major producer in the East announced a price reduction of CNY350/ton ($51/ton) for LDPE film, while also cutting their HDPE and LLDPE film offers by CNY200/ton ($29/ton), bringing their new offers to CNY12800-12900/ton ($1602-1615/ton without VAT) for LDPE film, CNY11900-11950/ton ($1490-1496/ton without VAT) for LLDPE film and to CNY10400/ton ($1302/ton without VAT) for HDPE film, all on an ex-warehouse East China, cash inc VAT basis. The producer attributed their price reductions to their mounting inventory levels.
[Chemorbis]
Showing posts with label Petrochemicals. Show all posts
Showing posts with label Petrochemicals. Show all posts
European PP in Turkey, Italy stands below production costs
10. Mar. 2010
In Europe, propylene costs have been on a constant firming trend for some time due to the persistent production issues in the region. Although spot propylene values gained further ground last week rising to €950-960/ton FD NWE, finding an extra support also from higher crude hovering above $80/bbl and soaring naphtha prices, competitive PP offers continue to emerge both in Turkey and Italy.
Taking the recent spot propylene values into account, a theoretical cost of producing PP corresponds to €1100/ton after adding an estimated conversion cost of €150/ton disregarding inland freight rate. Even though PP sellers are asking for increases of €50-75/ton for March, the Italian market is still seeing offers below this €1100/ton threshold, which sellers are trying to surpass for homo PP. The general homo PP offer level reported from sellers stands at €1110-1200/ton FD North Italy, 90 days deferred payment. However, late last week a buyer reported having received an offer for a West European origin at €1080/ton with the same terms while a second buyer purchased some cargoes at €1050/ton from a West European producer on FD North Italy, cash payment basis.
In Turkey, the overall European offer range for raffia is quoted at an adjusted level of €1045-1090/ton CFR Turkey, cash. Although it represents a slight increase from the prior week as a result of the increase attempts of sellers, these offers are still standing below the neighboring Italian market as well as the theoretical production costs for European PP.
The existence of such offers affirms the weak state of demand in Europe, according to some sources. It can also be a sign of higher than anticipated stocks at sellers, they argue. Competitive offers are randomly emerging in the Italian market while more cargoes with cheaper prices are diverted to Turkey.
[Chemorbis]
In Europe, propylene costs have been on a constant firming trend for some time due to the persistent production issues in the region. Although spot propylene values gained further ground last week rising to €950-960/ton FD NWE, finding an extra support also from higher crude hovering above $80/bbl and soaring naphtha prices, competitive PP offers continue to emerge both in Turkey and Italy.
Taking the recent spot propylene values into account, a theoretical cost of producing PP corresponds to €1100/ton after adding an estimated conversion cost of €150/ton disregarding inland freight rate. Even though PP sellers are asking for increases of €50-75/ton for March, the Italian market is still seeing offers below this €1100/ton threshold, which sellers are trying to surpass for homo PP. The general homo PP offer level reported from sellers stands at €1110-1200/ton FD North Italy, 90 days deferred payment. However, late last week a buyer reported having received an offer for a West European origin at €1080/ton with the same terms while a second buyer purchased some cargoes at €1050/ton from a West European producer on FD North Italy, cash payment basis.
In Turkey, the overall European offer range for raffia is quoted at an adjusted level of €1045-1090/ton CFR Turkey, cash. Although it represents a slight increase from the prior week as a result of the increase attempts of sellers, these offers are still standing below the neighboring Italian market as well as the theoretical production costs for European PP.
The existence of such offers affirms the weak state of demand in Europe, according to some sources. It can also be a sign of higher than anticipated stocks at sellers, they argue. Competitive offers are randomly emerging in the Italian market while more cargoes with cheaper prices are diverted to Turkey.
[Chemorbis]
Spot VCM prices shoot up in the US, buy ideas slide in Asia
10. Mar. 2010
Recent developments in global ethylene markets, which have seen US ethylene prices soaring to new heights and tumbling prices in major Asian markets, have begun to have an impact on spot VCM markets, which are in turn likely to lead to changes in global PVC pricing.
In the US, the January and February monthly ethylene contracts were settled at the beginning of March with a cumulative increase of $210/ton over their December level, while spot prices have also exhibited strong upward movement in the early months of 2010. Spot ethylene prices posted a cumulative increase of $475/ton in the first two months of the year and have already posted further increases of $250/ton in the first full week of March. Reacting to the sudden spike in ethylene feedstock costs, VCM sellers in the US have raised their offers as well. Spot VCM offers for export were reported $150/ton higher on a week over week basis, with much of the impetus for higher VCM prices coming from stronger ethylene costs. Although delayed purchases of spot ethylene have helped mitigate the impact of the rise in ethylene costs on downstream markets, one EDC producer has already predicted that the massive upward shift in production costs will soon make itself felt on spot PVC prices in the US, which may affect their competiveness in global markets, where American PVC sellers had been enjoying cost advantages throughout much of 2009.
Meanwhile, declining spot ethylene prices in Asia have begun to take their toll on the region's VCM market. At the end of February, a major Japanese producer announced their VCM offers for March with increases of $40-50/ton when compared with their February done deal levels. The producer justified their increase targets by pointing to higher March PVC import offers to the Chinese market, which posted similar month-over-month increases. Although March PVC business has been finalized at or close to producers' initial offer levels, buyers are showing stiff resistance to higher VCM prices. Although buyers generally attributed their resistance to softening PVC prices in China's domestic market and signs of softening regional demand, falling ethylene prices are also supportive of buyers' resistance to higher VCM offers. Spot ethylene offers to Northeast Asia declined around $50-70/ton over the past week, bringing the cumulative decline from early February to around $180-190/ton.
[Chemorbis]
Recent developments in global ethylene markets, which have seen US ethylene prices soaring to new heights and tumbling prices in major Asian markets, have begun to have an impact on spot VCM markets, which are in turn likely to lead to changes in global PVC pricing.
In the US, the January and February monthly ethylene contracts were settled at the beginning of March with a cumulative increase of $210/ton over their December level, while spot prices have also exhibited strong upward movement in the early months of 2010. Spot ethylene prices posted a cumulative increase of $475/ton in the first two months of the year and have already posted further increases of $250/ton in the first full week of March. Reacting to the sudden spike in ethylene feedstock costs, VCM sellers in the US have raised their offers as well. Spot VCM offers for export were reported $150/ton higher on a week over week basis, with much of the impetus for higher VCM prices coming from stronger ethylene costs. Although delayed purchases of spot ethylene have helped mitigate the impact of the rise in ethylene costs on downstream markets, one EDC producer has already predicted that the massive upward shift in production costs will soon make itself felt on spot PVC prices in the US, which may affect their competiveness in global markets, where American PVC sellers had been enjoying cost advantages throughout much of 2009.
Meanwhile, declining spot ethylene prices in Asia have begun to take their toll on the region's VCM market. At the end of February, a major Japanese producer announced their VCM offers for March with increases of $40-50/ton when compared with their February done deal levels. The producer justified their increase targets by pointing to higher March PVC import offers to the Chinese market, which posted similar month-over-month increases. Although March PVC business has been finalized at or close to producers' initial offer levels, buyers are showing stiff resistance to higher VCM prices. Although buyers generally attributed their resistance to softening PVC prices in China's domestic market and signs of softening regional demand, falling ethylene prices are also supportive of buyers' resistance to higher VCM offers. Spot ethylene offers to Northeast Asia declined around $50-70/ton over the past week, bringing the cumulative decline from early February to around $180-190/ton.
[Chemorbis]
Italian PP buyers reluctant to pay hikes of more than propylene
5. Mar. 2010
In Italy, there are price hikes of up to €75/ton sought in the PP market both for spot business and gentlemen's agreements. Sellers are justifying their large hike targets for another month by mainly pointing to the €35/ton higher settlement of the monthly propylene contract. They also need to improve margins amidst tight propylene availability, they argue.
However, buyers who already faced large price hikes of €70-100/ton in February appear reluctant to concede to any hike of more than that of the propylene contract. They are bidding for €30-35/ton increases at maximum. Demand for PP applications has failed to show a revival so far with converters continuing to complain about the sluggishness of their end product markets and their difficulty in passing their rising costs onto their downstream customers. As was the case for the past few months, they are planning to keep their purchases to their basic requirements amidst rising prices.
Accordingly, the rising trend in the PP market is expected to be kept in check with the slow demand in Italy during March. Although the theoretical cost of producing PP is nearing €1100/ton based on propylene both on spot and gross contract basis, the spot homo PP market has not able to pass this threshold at the low end since February due to low demand. Some PP buyers still hope to find offers slightly below this level for large quantities in the later days of the month while much lower offers at €1030-1070/ton that emerged in Turkey on CFR basis last week also indicate the dullness of the PP market in Europe.
[chemorbis]
In Italy, there are price hikes of up to €75/ton sought in the PP market both for spot business and gentlemen's agreements. Sellers are justifying their large hike targets for another month by mainly pointing to the €35/ton higher settlement of the monthly propylene contract. They also need to improve margins amidst tight propylene availability, they argue.
However, buyers who already faced large price hikes of €70-100/ton in February appear reluctant to concede to any hike of more than that of the propylene contract. They are bidding for €30-35/ton increases at maximum. Demand for PP applications has failed to show a revival so far with converters continuing to complain about the sluggishness of their end product markets and their difficulty in passing their rising costs onto their downstream customers. As was the case for the past few months, they are planning to keep their purchases to their basic requirements amidst rising prices.
Accordingly, the rising trend in the PP market is expected to be kept in check with the slow demand in Italy during March. Although the theoretical cost of producing PP is nearing €1100/ton based on propylene both on spot and gross contract basis, the spot homo PP market has not able to pass this threshold at the low end since February due to low demand. Some PP buyers still hope to find offers slightly below this level for large quantities in the later days of the month while much lower offers at €1030-1070/ton that emerged in Turkey on CFR basis last week also indicate the dullness of the PP market in Europe.
[chemorbis]
Saudi Aramco decreas the price of Propane & Butane
5. Mar. 2010
Saudi Aramco identified propane price in March with 730usd per tonne, down in 5usd compared to February.
The company also identified a butane price in March with 715usd per ton down 20 dollars compared to February.
Not that the prices of propane & butane are act as measurement prices in Middle East for the price of LPG.
Butane and propane gas uses in many applications, particularly in the area of cooking, heating and in the production of petrochemicals.
[Argaam]
The company also identified a butane price in March with 715usd per ton down 20 dollars compared to February.
Not that the prices of propane & butane are act as measurement prices in Middle East for the price of LPG.
Butane and propane gas uses in many applications, particularly in the area of cooking, heating and in the production of petrochemicals.
[Argaam]
SE Asian producer announces March offers for PP, PE
26. Feb. 2010
A Southeast Asian producer announced their initial March offers for both PP and PE to the region this week. For PP, the producer raised their offers by $10/ton for homo-PP and $20-30/ton for copolymer PP, bringing their new offers to $1430/ton for homo-PP injection and raffia, $1520-1530/ton for PP block copolymer injection and $1520-1540/ton for PP random copolymer injection, all on a CIF SEA, cash basis. The producer cited higher propylene feedstock costs as well as their unsatisfactory margins as support for their price increases.
In the PE market, the producer announced a $20/ton increase on their offers for LDPE coating while rolling over their offers for LDPE film and injection, with their March offers standing at $1650/ton for LDPE film, $1680/ton for LDPE injection and $1670/ton for LDPE coating, all on a CIF SEA, cash basis. The producer stated LDPE demand is not doing very well at the present, commenting that they nevertheless elected to lift their offers for LDPE coating as supply for this product is quite limited.
[Chemorbis]
A Southeast Asian producer announced their initial March offers for both PP and PE to the region this week. For PP, the producer raised their offers by $10/ton for homo-PP and $20-30/ton for copolymer PP, bringing their new offers to $1430/ton for homo-PP injection and raffia, $1520-1530/ton for PP block copolymer injection and $1520-1540/ton for PP random copolymer injection, all on a CIF SEA, cash basis. The producer cited higher propylene feedstock costs as well as their unsatisfactory margins as support for their price increases.
In the PE market, the producer announced a $20/ton increase on their offers for LDPE coating while rolling over their offers for LDPE film and injection, with their March offers standing at $1650/ton for LDPE film, $1680/ton for LDPE injection and $1670/ton for LDPE coating, all on a CIF SEA, cash basis. The producer stated LDPE demand is not doing very well at the present, commenting that they nevertheless elected to lift their offers for LDPE coating as supply for this product is quite limited.
[Chemorbis]
Mid-Eastern producer reveals March PP, PE offers in Egypt
26. Feb. 2010
In Egypt, a major Middle Eastern producer revealed their March PP offers with increases of $20-30/ton. Accordingly, the producer's new PP raffia and injection offers now stand at $1340-1350/ton and PP film and fibre offers are at $1370/ton on CIF Alexandria, 90 days deferred payment basis. This increase announcement is in line with the expectations highlighted in Egypt's PP Polymer Digest report despite the generally pronounced rollover expectations in the market.
A trader, who gives these offers, does not feel sure if the producer will be able to sell at these new levels or not since the overall local supplies are comfortable and prices are offered at good levels. Locally held offers are between EGP8000-8200/ton ($1323-1356/ton without VAT) while the local producer OPC's offers are at EGP7435/ton on ex-Suez, cash not including VAT, $1353/ton.
Meanwhile, a buyer reported receiving March PE offers from the same producer. The LDPE film offers are at $1550/ton and LLDPE film offers are at $1420/ton on CIF Alexandria, 90 days deferred payment basis, representing a rollover from their February levels. Meanwhile, their HDPE film offers are at $1420/ton with the same terms, indicating a rollover from their initial February offers but a $20/ton increase compared to their most recent offer levels in February.
[Chemorbis]
In Egypt, a major Middle Eastern producer revealed their March PP offers with increases of $20-30/ton. Accordingly, the producer's new PP raffia and injection offers now stand at $1340-1350/ton and PP film and fibre offers are at $1370/ton on CIF Alexandria, 90 days deferred payment basis. This increase announcement is in line with the expectations highlighted in Egypt's PP Polymer Digest report despite the generally pronounced rollover expectations in the market.
A trader, who gives these offers, does not feel sure if the producer will be able to sell at these new levels or not since the overall local supplies are comfortable and prices are offered at good levels. Locally held offers are between EGP8000-8200/ton ($1323-1356/ton without VAT) while the local producer OPC's offers are at EGP7435/ton on ex-Suez, cash not including VAT, $1353/ton.
Meanwhile, a buyer reported receiving March PE offers from the same producer. The LDPE film offers are at $1550/ton and LLDPE film offers are at $1420/ton on CIF Alexandria, 90 days deferred payment basis, representing a rollover from their February levels. Meanwhile, their HDPE film offers are at $1420/ton with the same terms, indicating a rollover from their initial February offers but a $20/ton increase compared to their most recent offer levels in February.
[Chemorbis]
China to Decrease Ethelyn Imports from KSA
26. Feb. 2010
A Chinese government report shows that China is currently in the process of studying the potential decrease in its Ethelyn imports by 35%-40% by the year 2013.
The country aims to do so through increasing its production of Ethelyn by 44%. China is to boost Ethelyn production to 19.8 million tons per year through 5 major projects, one of which is a major joint venture with Aramco alongside another project.
[Al Jazira]
A Chinese government report shows that China is currently in the process of studying the potential decrease in its Ethelyn imports by 35%-40% by the year 2013.
The country aims to do so through increasing its production of Ethelyn by 44%. China is to boost Ethelyn production to 19.8 million tons per year through 5 major projects, one of which is a major joint venture with Aramco alongside another project.
[Al Jazira]
West European PVC comes under $1100 in Turkey
23. Feb. 2010
During the month of February, Turkish players reported seeing more European origins offered into the market compared to January, including Central European offers which have been scarce for several months.
These European PVC k67 offers have been in the range of $1100-1140/ton CFR Turkey, cash basis in February. This price range has been very competitive compared to the alternatives with the exception of Egyptian origin which is also duty free and standing at $1060-1090/ton with the same terms.
US origin has been another major player in the market, but with prices at $1010-1050/ton, subject to both 6.5% customs duty and $45/ton anti-dumping duty, it is mainly workable for competitors with re-export documentation.
Nevertheless, despite the competitive advantage of European offers, imports have not been popular in Turkey this month due to lower local prices available in the distribution market as a result of slow demand.
This week, however, a trader received an offer from Northwest Europe under $1100/ton at $1090/ton CFR Turkey, cash. With the depreciating euro, European origin offers continue to gain a competitive advantage. At yesterday's official exchange rate, the offer comes to around €803/ton, while this figure may be higher considering the depreciation of the euro today following the US Federal Reserve's rate hike announcement last night. Compared to Italy's PVC market, this price would form the high end of the market level.
[Chemorbis]
During the month of February, Turkish players reported seeing more European origins offered into the market compared to January, including Central European offers which have been scarce for several months.
These European PVC k67 offers have been in the range of $1100-1140/ton CFR Turkey, cash basis in February. This price range has been very competitive compared to the alternatives with the exception of Egyptian origin which is also duty free and standing at $1060-1090/ton with the same terms.
US origin has been another major player in the market, but with prices at $1010-1050/ton, subject to both 6.5% customs duty and $45/ton anti-dumping duty, it is mainly workable for competitors with re-export documentation.
Nevertheless, despite the competitive advantage of European offers, imports have not been popular in Turkey this month due to lower local prices available in the distribution market as a result of slow demand.
This week, however, a trader received an offer from Northwest Europe under $1100/ton at $1090/ton CFR Turkey, cash. With the depreciating euro, European origin offers continue to gain a competitive advantage. At yesterday's official exchange rate, the offer comes to around €803/ton, while this figure may be higher considering the depreciation of the euro today following the US Federal Reserve's rate hike announcement last night. Compared to Italy's PVC market, this price would form the high end of the market level.
[Chemorbis]
European spot styrene prices show a volatile trend
23. Feb. 2010
In Europe, spot styrene prices recorded significant increases at the beginning of February with respect to early January levels. However, during February, they mostly followed a volatile trend albeit they still remain firm.
In the first week of February, spot prices gained $25/ton before losing ground by around $30/ton in the following week. After that, during last week, they gained larger increases of $114/ton on FOB NWE basis. The overall increase amount since the beginning of February is around $105-110/ton, while most of the hikes were recorded during last week.
The rebounding energy market is highlighted as the main reason behind last week’s bullishness in the styrene feedstock costs. NYMEX March crude futures settled on Thursday the 18th with a $1.73/barrel increase at $79.06/barrel while this level indicates a $4/barrel increase on the week. On the other hand, the US Federal Reserve elected to raise their interest rate on short-term loans to banks after US equities markets closed Thursday evening. This decision caused the US dollar to rise while crude prices reacted to the news by moving south during trade on Friday.
The outlook remains unclear for the European styrene contract as spot prices have been fluctuating in a wide range. This situation also affects the PS market as Italian players pronounce divergent ideas regarding March business. Buyers in the country hope to see a break in the ongoing price hikes although producers are already planning increases to improve margins.
Now, players wait to see the styrene contract for March in order to have a clearer idea. The February contract in the region had settled with €13-16/ton ($17-21/ton when calculated with the most recent parity of 1.3567) decreases at €1002-1005/ton ($1359-1363/ton) on FD NWE basis compared to January. PS demand in Italy remains sluggish as converters are not satisfied with their end business while this situation is also confirmed by sellers. However, sellers continue to draw attention to the tightness in the region, which helped them to achieve stable to firmer figures this month despite the lower styrene contract and amidst volatile spot styrene costs.
[Chemorbis]
In the first week of February, spot prices gained $25/ton before losing ground by around $30/ton in the following week. After that, during last week, they gained larger increases of $114/ton on FOB NWE basis. The overall increase amount since the beginning of February is around $105-110/ton, while most of the hikes were recorded during last week.
The rebounding energy market is highlighted as the main reason behind last week’s bullishness in the styrene feedstock costs. NYMEX March crude futures settled on Thursday the 18th with a $1.73/barrel increase at $79.06/barrel while this level indicates a $4/barrel increase on the week. On the other hand, the US Federal Reserve elected to raise their interest rate on short-term loans to banks after US equities markets closed Thursday evening. This decision caused the US dollar to rise while crude prices reacted to the news by moving south during trade on Friday.
The outlook remains unclear for the European styrene contract as spot prices have been fluctuating in a wide range. This situation also affects the PS market as Italian players pronounce divergent ideas regarding March business. Buyers in the country hope to see a break in the ongoing price hikes although producers are already planning increases to improve margins.
Now, players wait to see the styrene contract for March in order to have a clearer idea. The February contract in the region had settled with €13-16/ton ($17-21/ton when calculated with the most recent parity of 1.3567) decreases at €1002-1005/ton ($1359-1363/ton) on FD NWE basis compared to January. PS demand in Italy remains sluggish as converters are not satisfied with their end business while this situation is also confirmed by sellers. However, sellers continue to draw attention to the tightness in the region, which helped them to achieve stable to firmer figures this month despite the lower styrene contract and amidst volatile spot styrene costs.
[Chemorbis]
ICE Gasoil Futures Contract Sets Second Consecutive Daily Volume Record
12. February. 2010
IntercontinentalExchange, Inc., a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced a new daily volume record for the ICE Gasoil futures contract. On February 10, 343,672 Gasoil futures contracts traded on ICE Futures Europe -- the second consecutive daily volume record for Gasoil futures, and the first in excess of 300,000 contracts. A Gasoil open interest record of 670,822 contracts was established on February 8.
The ICE Gasoil futures contract is the world's largest refined petroleum product futures contract. Introduced in 1981, the ICE Gasoil futures contract has become the underlying pricing reference for refined products around the world. Today, the ICE Gasoil contract offers traders deep liquidity and the versatility of a global benchmark.
About IntercontinentalExchange
IntercontinentalExchange® is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe® hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S.® and ICE Futures Canada® list agricultural, currencies and Russell Index markets. ICE® is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 55 countries. www.theice.com .
[PR Newswire]
IntercontinentalExchange, Inc., a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced a new daily volume record for the ICE Gasoil futures contract. On February 10, 343,672 Gasoil futures contracts traded on ICE Futures Europe -- the second consecutive daily volume record for Gasoil futures, and the first in excess of 300,000 contracts. A Gasoil open interest record of 670,822 contracts was established on February 8.
The ICE Gasoil futures contract is the world's largest refined petroleum product futures contract. Introduced in 1981, the ICE Gasoil futures contract has become the underlying pricing reference for refined products around the world. Today, the ICE Gasoil contract offers traders deep liquidity and the versatility of a global benchmark.
About IntercontinentalExchange
IntercontinentalExchange® is a leading operator of regulated futures exchanges and over-the-counter markets for agricultural, credit, currency, emissions, energy and equity index contracts. ICE Futures Europe® hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S.® and ICE Futures Canada® list agricultural, currencies and Russell Index markets. ICE® is also a leading operator of central clearing services for the futures and over-the-counter markets, with five regulated clearing houses across North America and Europe. ICE serves customers in more than 55 countries. www.theice.com .
[PR Newswire]
SABIC increase contracts prices of MEG for March
11. February. 2010
Argaam
SABIC increase contracts prices for the sale of MEG in Asian markets for March to 1050 dollars, with an increase of 30$ comparison with contract prices for February.
Note that the price of MEG in the Asian markets identifies usually by 3 companies ( SABIC, Shell chemicals & MEGlobal).
Argaam
Note that the price of MEG in the Asian markets identifies usually by 3 companies ( SABIC, Shell chemicals & MEGlobal).
Cristal Global raise titanium dioxide price with 100$ in South American & Mexico
7. February. 2010
Argaam
The company said in a statement that this increase will begin on 1 March to be added to increases that were advertised earlier in the same markets.
This increase comes in the wake of several increases announced by the company for the rest of the market that operates (Asia, North America, Middle East, Africa, Europe and South America).
Note that cristal company is the second largest producer of titanium dioxide in the world, as they are running 8 manufacturing units in six countries spread over the five continents and employs about 4,000 employees.
Argaam
Cristal Global announced -66%-owned by National Industrialization Co. which listed on the Saudi stock market- it had decided to raise price of a titanium dioxide in South American markets and Mexico with100$ per tonne.
The company said in a statement that this increase will begin on 1 March to be added to increases that were advertised earlier in the same markets.
This increase comes in the wake of several increases announced by the company for the rest of the market that operates (Asia, North America, Middle East, Africa, Europe and South America).
Note that cristal company is the second largest producer of titanium dioxide in the world, as they are running 8 manufacturing units in six countries spread over the five continents and employs about 4,000 employees.
Styrene and derivative PS prices moving in opposite directions
5. February. 2010
Chemorbis
In Asia, the spot markets for styrene and derivative PS are moving in opposite directions this week, with spot PS prices moving lower across the region even as spot styrene has moved higher, with spot styrene prices regaining this week all of the ground they had lost during the previous week.
The spot styrene market has been subject to some significant price volatility over the past two weeks. Spot styrene prices, which began the last week of January priced at around $1320/ton on FOB Korea basis, shed $70/ton over the course of the week to be reported at around $1250/ton with the same terms by the end of last week after they sunk to as low as $1240/ton during the week.
Sources accounted for the decline in prices by pointing to such factors as weakening demand in China ahead of the Chinese New Year holidays, the Chinese government's ongoing efforts to tighten monetary policy and lower crude oil costs. Despite the continued weakness in China's demand as the holidays draw ever closer, spot styrene prices have bounced back up this week, regaining the $70/ton lost last week to be reported as of this morning at around $1320/ton FOB Korea.
This rise in spot styrene prices has been accompanied by a recovery in the crude oil market, with crude oil futures on the NYMEX gaining approximately $4/barrel on the week. In addition to the effect of stronger crude prices, the styrene market has also received support from the fact that traders are actively bidding for March cargoes, with most players in Asia having shifted their focus to March as little market activity is expected to transpire in the region now that the Chinese New Year is only one week away.
Although styrene feedstock costs have returned to the levels seen at the beginning of last week, spot PS prices have moved lower in the region as sellers have reduced their prices in the face of lackluster demand. The largest price decreases have been recorded inside China, where distributors have cut their prices for both GPPS and HIPS by around CNY200-600/ton ($29-88/ton) this week, pointing to sluggish demand as well as their mounting sales pressure as the reasons for their price reductions.
Overseas producers offering to the Chinese market have also voiced complaints of poor demand and rising sales pressure this week, although these producers are generally taking a firm stance on their offers for the present owing to high production costs and limited availability.
In Southeast Asia, a global producer announced a price reduction of $20/ton on their offers for Singaporean PS this week, pointing to poor demand as the reason for their price cuts, while distributors in Indonesia also announced reductions of $20/ton on their offers this week in hopes of speeding up their sales.
Other sellers in the region are said to be more willing to discuss discounts with their customers, although converters say that they are in no rush to replenish their stocks right before the Chinese New Year holidays, with many claiming that their existing inventory levels can last them for the rest of the month.
Chemorbis
In Asia, the spot markets for styrene and derivative PS are moving in opposite directions this week, with spot PS prices moving lower across the region even as spot styrene has moved higher, with spot styrene prices regaining this week all of the ground they had lost during the previous week.
The spot styrene market has been subject to some significant price volatility over the past two weeks. Spot styrene prices, which began the last week of January priced at around $1320/ton on FOB Korea basis, shed $70/ton over the course of the week to be reported at around $1250/ton with the same terms by the end of last week after they sunk to as low as $1240/ton during the week.
Sources accounted for the decline in prices by pointing to such factors as weakening demand in China ahead of the Chinese New Year holidays, the Chinese government's ongoing efforts to tighten monetary policy and lower crude oil costs. Despite the continued weakness in China's demand as the holidays draw ever closer, spot styrene prices have bounced back up this week, regaining the $70/ton lost last week to be reported as of this morning at around $1320/ton FOB Korea.
This rise in spot styrene prices has been accompanied by a recovery in the crude oil market, with crude oil futures on the NYMEX gaining approximately $4/barrel on the week. In addition to the effect of stronger crude prices, the styrene market has also received support from the fact that traders are actively bidding for March cargoes, with most players in Asia having shifted their focus to March as little market activity is expected to transpire in the region now that the Chinese New Year is only one week away.
Although styrene feedstock costs have returned to the levels seen at the beginning of last week, spot PS prices have moved lower in the region as sellers have reduced their prices in the face of lackluster demand. The largest price decreases have been recorded inside China, where distributors have cut their prices for both GPPS and HIPS by around CNY200-600/ton ($29-88/ton) this week, pointing to sluggish demand as well as their mounting sales pressure as the reasons for their price reductions.
Overseas producers offering to the Chinese market have also voiced complaints of poor demand and rising sales pressure this week, although these producers are generally taking a firm stance on their offers for the present owing to high production costs and limited availability.
In Southeast Asia, a global producer announced a price reduction of $20/ton on their offers for Singaporean PS this week, pointing to poor demand as the reason for their price cuts, while distributors in Indonesia also announced reductions of $20/ton on their offers this week in hopes of speeding up their sales.
Other sellers in the region are said to be more willing to discuss discounts with their customers, although converters say that they are in no rush to replenish their stocks right before the Chinese New Year holidays, with many claiming that their existing inventory levels can last them for the rest of the month.
Wide Spread between naphtha and ethylene in Asia reaches 2007 levels
3. January. 2010
WrldScrap
Ethylene prices have spiked to a 17-month-high, creating the widest spread between naphtha and ethylene since 2007, as per ICIS. End of last week, ethylene was pegged at US$1310/MT FOB Korea, while naphtha stood at US$690/MT CFR Japan. This brings the spread to US$620/ton as compared with a spread of US$627/ton on 17 August, 2007 and US$667/ton on 5 January, 2007.
In 2007, the global economies were in the midst of the highest economic growth in a generation. Interestingly, despite the inevitable complaints of squeezed margins by PE producers amid market-driven rate cuts and plant-idling, ICIS pricing margin reports tell a more nuanced story - Naphtha-based ethylene margins in Northeast Asia rose by US$37/ton due to weaker naphtha prices. Naphtha costs had fallen by 4.8%, offsetting a 4.6% dip in co-product values.
Integrated linear-low density PE (LLDPE) and high-density PE (HDPE) margins also rose by US$30/ton and US$39/ton respectively. Thus, the incentive for integrated producers to increase ethylene sales at the expense of PE didn't seem to be that strong as of last week, despite reports to the contrary.
On a non-integrated basis, standalone LDPE margins fell to their lowest level since July 2008 and average January HDPE margins were the worst since September 2004. Ethylene-PE margins have been strong because of temporary supply issues.
Some ethylene traders believe that prices will decline from March because of increased supply with the start up of the 800,000 tpa Shell cracker in Singapore that is estimated to export 180,000-200,000 tpa of ethylene to export.
Also, in the past few months, Shell has been buying ethylene to run its MEG plant. When the new plant comes onstream, a buyer who contributed to a tight market situation will become a significant seller of ethylene.
Also the tight supply from Iran is expected to ease in the next few months, as ahost of production glitches will be resolved over the next few months, with a great deal of new capacity yet to come on-stream. On the demand side, potential for weaker economic growth in China, resulting in the sharp correction in oil and other commodity prices over the last few weeks could result in bearish trend in prices. The big factor to assess post-Chinese New Year will be the influence of China's reductions in bank lending.
WrldScrap
In 2007, the global economies were in the midst of the highest economic growth in a generation. Interestingly, despite the inevitable complaints of squeezed margins by PE producers amid market-driven rate cuts and plant-idling, ICIS pricing margin reports tell a more nuanced story - Naphtha-based ethylene margins in Northeast Asia rose by US$37/ton due to weaker naphtha prices. Naphtha costs had fallen by 4.8%, offsetting a 4.6% dip in co-product values.
Integrated linear-low density PE (LLDPE) and high-density PE (HDPE) margins also rose by US$30/ton and US$39/ton respectively. Thus, the incentive for integrated producers to increase ethylene sales at the expense of PE didn't seem to be that strong as of last week, despite reports to the contrary.
On a non-integrated basis, standalone LDPE margins fell to their lowest level since July 2008 and average January HDPE margins were the worst since September 2004. Ethylene-PE margins have been strong because of temporary supply issues.
Some ethylene traders believe that prices will decline from March because of increased supply with the start up of the 800,000 tpa Shell cracker in Singapore that is estimated to export 180,000-200,000 tpa of ethylene to export.
Also, in the past few months, Shell has been buying ethylene to run its MEG plant. When the new plant comes onstream, a buyer who contributed to a tight market situation will become a significant seller of ethylene.
Also the tight supply from Iran is expected to ease in the next few months, as ahost of production glitches will be resolved over the next few months, with a great deal of new capacity yet to come on-stream. On the demand side, potential for weaker economic growth in China, resulting in the sharp correction in oil and other commodity prices over the last few weeks could result in bearish trend in prices. The big factor to assess post-Chinese New Year will be the influence of China's reductions in bank lending.
Saudi Aramco lower the prices of "propane", & set "butane" prices unchanged for february
2. February. 2010
Argaam
Saudi Aramco company specify a propane price for February contracts at 735$ per tonne, down 5 dollars from January.
The company also set a butane price for February contracts at 735$ per tonne, which is at the same level of January.
Propane & butane prices represent measurement prices on Middle East sales pricing of liquefied petroleum gas.
Propane & butane gas uses in many applications, particularly in the area of cooking, heating and the production of petrochemichals.
Argaam
Saudi Aramco company specify a propane price for February contracts at 735$ per tonne, down 5 dollars from January.
The company also set a butane price for February contracts at 735$ per tonne, which is at the same level of January.
Propane & butane prices represent measurement prices on Middle East sales pricing of liquefied petroleum gas.
Propane & butane gas uses in many applications, particularly in the area of cooking, heating and the production of petrochemichals.
(Gulf petrochemicals)GPIC increase production of methanol and urea
29. January. 2010
Alayam Newspaper
According to the Gulf petrochemicals Industries Co. (GPIC) that inaugurate project of carbon dioxide gas extraction by Prime Minister Counsellor h.h. the Issa Al-Khalifa on 24 December, will enable the company to restore 450 tons of carbon dioxide gas instead of discharged into the air, it is the first of its kind in the Middle East.In addition, the unit will assist in increasing the production of methanol plant about 120 tonnes per day, & urea plant production about 80 tons per day.
In addition to important industrial productivity, this project represents environmentally significant event as adopt voluntarily modern technology to maintain working environment while exploits the better exploitation of raw materials in an effective balance & contributes strongly to show a civilized of industrial enterprises which enjoy the effectively of national economy in Bahrain.
Alayam Newspaper
According to the Gulf petrochemicals Industries Co. (GPIC) that inaugurate project of carbon dioxide gas extraction by Prime Minister Counsellor h.h. the Issa Al-Khalifa on 24 December, will enable the company to restore 450 tons of carbon dioxide gas instead of discharged into the air, it is the first of its kind in the Middle East.In addition, the unit will assist in increasing the production of methanol plant about 120 tonnes per day, & urea plant production about 80 tons per day.
In addition to important industrial productivity, this project represents environmentally significant event as adopt voluntarily modern technology to maintain working environment while exploits the better exploitation of raw materials in an effective balance & contributes strongly to show a civilized of industrial enterprises which enjoy the effectively of national economy in Bahrain.
Methanex fix methanol prices for yhe month of Fenruary at 350$ per tonne
29. January. 2010
Argaam
Methanex company, the world's largest producer of methanol, fix sale price per tonne for contracts for the month of February in the Asian market at 350$ per ton without changing the specified price for the month of January.
The company has raised the price during the past two months, with contract prices for December to 320 dollars compared to 300$ for the month of November and raise the price for the month of January to 350$ per tonne.
This quotations by the company represent the standard prices before making discounts for customers.
Argaam
The company has raised the price during the past two months, with contract prices for December to 320 dollars compared to 300$ for the month of November and raise the price for the month of January to 350$ per tonne.
This quotations by the company represent the standard prices before making discounts for customers.
Hexion To Raise Emulsion Polymer Prices for North American Adhesive, Textiles, Nonwovens, and Construction Markets
28. January. 2010
Hexion News
Effective February 15, 2010, or as contracts allow, Hexion Specialty Chemical, Inc.'s North American Dispersions business will increase prices by $US 0.05 (five cents) per wet pound in the United States and Canada for all acrylic, styrene acrylic, vinyl acrylic and other polymers used in the adhesives, textiles, nonwovens and construction markets. This action is necessary due to recent increases in the cost of raw materials used to manufacture these products.
About Hexion Specialty Chemicals, Inc..
Based in Columbus, Ohio, Hexion Specialty Chemicals is the global leader in thermoset resins. Hexion serves the global wood and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries.
Hexion News
Effective February 15, 2010, or as contracts allow, Hexion Specialty Chemical, Inc.'s North American Dispersions business will increase prices by $US 0.05 (five cents) per wet pound in the United States and Canada for all acrylic, styrene acrylic, vinyl acrylic and other polymers used in the adhesives, textiles, nonwovens and construction markets. This action is necessary due to recent increases in the cost of raw materials used to manufacture these products.
About Hexion Specialty Chemicals, Inc..
Based in Columbus, Ohio, Hexion Specialty Chemicals is the global leader in thermoset resins. Hexion serves the global wood and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries.
19 million tons of petrochemical production in Qatar by 2012
28. january. 2010
Argaam
Revealed by Abdullah bin Hamad Al-Attiyah, Deputy Premier, & Minister of energy and industry about putting some investment projects during the year after delayed due to the global crisis, and after low cost compared with before the crisis, and expected to revert the global economy its highlighted results which were before global crisis.
He said the investment projects did not stop with Qatar during last year despite difficult financial circumstances that has been in the global economy, including "QAPCO" 6 & QAPCO in addition to other projects in the energy sector, noting that Qatar preparing to launch "Brazen" project during the year in addition to signing an agreement with ExxonMobil to create largest ethylene "Cracker" in world with production capacity million and 600 thousand tons a year.
Deputy Prime Minister consider "draft shell & ORYX-GTL" the most important step towards increasing global demands of clean energy, as well as to make Doha, capital of the world in GTL.
He noted that Qatar 2010 projects Conference is a unique opportunity to discuss the business of investment opportunities to benefit from significant economic boom in Qatar.
he adding: "the hydrocarbon sector remained strong & focus on the achievement of strategic projects that addressed the importance of maintaining cash flows to the State". He said the investment market in Qatar, like other areas has the special nature of opportunities and challenges in order to succeed we need to understand it fully until it becomes possible to take advantage of opportunities and overcome challenges.
He said that in the Qatar made great efforts to export capacity-building of gas we also work to develop global projects in manufacturing, continued the implementation of ambitious plans to increase production of Qatar petrochemical to 19 million tons per year by 2012.
Argaam
He said the investment projects did not stop with Qatar during last year despite difficult financial circumstances that has been in the global economy, including "QAPCO" 6 & QAPCO in addition to other projects in the energy sector, noting that Qatar preparing to launch "Brazen" project during the year in addition to signing an agreement with ExxonMobil to create largest ethylene "Cracker" in world with production capacity million and 600 thousand tons a year.
Deputy Prime Minister consider "draft shell & ORYX-GTL" the most important step towards increasing global demands of clean energy, as well as to make Doha, capital of the world in GTL.
He noted that Qatar 2010 projects Conference is a unique opportunity to discuss the business of investment opportunities to benefit from significant economic boom in Qatar.
he adding: "the hydrocarbon sector remained strong & focus on the achievement of strategic projects that addressed the importance of maintaining cash flows to the State". He said the investment market in Qatar, like other areas has the special nature of opportunities and challenges in order to succeed we need to understand it fully until it becomes possible to take advantage of opportunities and overcome challenges.
He said that in the Qatar made great efforts to export capacity-building of gas we also work to develop global projects in manufacturing, continued the implementation of ambitious plans to increase production of Qatar petrochemical to 19 million tons per year by 2012.
Subscribe to:
Posts (Atom)
+of+Copy+of+Scan+Head+Letter3.JPG)
