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Asian Chemical Connections

Asia refining: tough times ahead

By Malini Hariharan The going has been good for the refining industry this year but analysts are predicting a weaker 2012 and 2013. UBS for instance, expects complex refining margin in Asia to fall 20% in 2012 from the average $8/bbl forecast for 2011. And it expects 2013 to be even weaker with average margin […]

India petchem projects update

By Malini Hariharan India’s major petrochemical projects are inching forward very slowly and the blog will not be surprised if there are more delays along the way. Reliance has yet to kick start its 1.4-1.6m tonnes/year cracker project adjacent to two refineries at Jamnagar, on the west coast of India. The cracker will be based […]

India Polymers Shine But Questions Persist

By Malini Hariharan Optimism has returned to the Indian polymer market fuelled by a sharp recovery in prices and buying sentiment over the last few weeks across Asia. The talk these days is mainly about tightness in availability of polyethylene (PE) and polypropylene (PP) and when producers will announce the next price hike. Supply is […]

Cotton corrects; will polyester follow?

By Malini Hariharan After last year’s stunning rise, cotton prices have plunged 53% in the last four months from a 140-year peak of $2.15/lb on 4 March. Prices have fallen 38% in July with cotton for December delivery quoted at 98.63 cents/lb on the Intercontinental Exchange. The swift correction in prices is based on expected […]

Sleepless in Riyadh

By Malini Hariharan CEOs of Asian petrochemical companies worried about rising feedstock costs, a weak economic outlook and profitability should have been reassured to read over the weekend that even Mohammed Al-Mady, vice-chairman and CEO of Sabic is having sleepless nights. His chief concern is keeping Sabic’s record profits at record levels. Sabic churned out […]

India PP dumping: The story continues

By Malini Hariharan The fight against anti-dumping duties (ADD) imposed by India on polypropylene (PP) exported by Saudi Arabia, Singapore and Oman is not yet over. Some of the major companies that face ADD have taken the matter to the Indian Customs, Excise and Service Tax Appellate Tribunal and the issue is due to come […]

India polymers slide once again

By Malini Hariharan The messenger’s prediction has turned out to be correct. Indian polymer producers have been forced to reduce domestic prices to match levels seen in the wider Asian market. The week started with a downward revision to polypropylene (PP) prices followed by cuts in prices of low density polyethylene (LDPE), linear low density […]

Don’t shoot the messenger

By Malini Hariharan There is a lot of free price information and advice available to Indian polymer buyers via emails and SMSs. The gist of the messages these days is that the Chinese market is weak, international and domestic prices will fall and buying should be in limited volumes. An email that landed in the […]

Pressure builds up as manufacturing growth slows

By Malini Hariharan Government measures across Asia to ease inflationary pressure are finally yielding results. The latest economic indicators from China and India confirm a loss in manufacturing growth momentum which is likely to put further pressure on troubled polyolefin markets. In China, the official Purchasing Managers Index (PMI), from the China Federation of Logistics, […]

Tough times start for India polyolefins

By Malini Hariharan Tension is building up in the Indian polyolefin market with buying activity slowing down in recent weeks. “The market is really dull; trading activity is very flat and end-users are taking minimum quantities. We are worried that the situation will worsen if we offer more discounts,” says a concerned producer. The slow […]

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