By John Richardson Inventories of copper, aluminium, lead and nickel have risen as prices for all these commodities have also surged, says this article in The Economist. Source of graph: The Economists Copper stocks total half a million tonnes in metals-exchanges warehouses in what HSBC analyst Andrew Keen describes as a market […]
Asian Chemical Connections
China Polyolefns: Trying To See Through The Data
Source of picture: www.wrh.noaa.gov/hnx/newslet/sum…mber.htm By John Richardson Hope springs eternal when it comes to trying to fathom the direction of the polyolefin market in China. One particular hope rests on March import numbers from China Customs, due to be released later this month. The data might just give a pointer to the extent […]
Muddled Messages Over Yuan Revaluation
Source of picture: www.thewecc.com By John Richardson Confusing messages continue to emerge from Beijing over whether a revaluation of the Yuan is imminent, a debate that has major implications for the chemicals industry. The Financial Times reported this morning that senior government economist Ba Shusong had said that China could widen the currency’s […]
US Optimism Needs To Be Tempered
Flagging Recovery Source of picture: www.guardian.co.uk By John Richardson THE latest US Institute of Supply Management survey signalled a buoyant manufacturing sector, in line with likely Q1 GDP (gross domestic product) growth of 5%, says the latest Weekly Chemistry and Economic Trends report from the American Chemistry Council. “Consumer spending is expanding and this […]
Speed Of China’s Growth Triggers New Official Warning
By John Richardson The chairman of China Construction Bank has spoken about the dangers created by China’s GDP (gross domestic product) expanding by more than 9.5% in 2010, which, according to many analysts, seems highly likely: GDP is estimated to have risen by 11-12% in Q1. “It (too-rapid growth) will mean more duplication of construction, […]
Formosa awaits approval for big expansions in China
By Malini Hariharan In a research note released today, UBS has highlighted plans by Formosa Chemical and Fibres (FCFC) for major expansions at Ningbo, China. The Taiwanese petrochemicals major is in the process of getting Chinese government approval for a new 1.5m tonnes/year PTA plant, a 200,000 tonnes/year PS unit and a 150,000 tonnes/year ABS […]
A view from the West
By Malini Hariharan The Asian olefin and polyolefin markets have softened in recent weeks but the US market remains on a different track, as seen in these reports filed by my colleagues on ICIS news. Ethylene prices are still firm on tight supplies. Spot ethylene for March/April was at 61-63 cents/lb, up from 42.5-43.0 in […]
Dealing With The Middle East Logistics Challenge
Singapore’s container port Source of picture: www.gcaptain.com By Malini Hariharan and John Richardson A big challenge facing many companies that have built large polymer plants that are located far from key markets is how to move product most efficiently. These facilities have been built to take advantage of competitive feedstocks in regions such as […]
Bright Future Predicted for Saudi Private Cos
Riyadh Source of picture: help.berberber.com By John Richardson PRIVATE Saudi Arabian petrochemical companies need not fret about the ethane-gas shortage that two sources had last week told us would hold up their development, according a third industry source we spoke to today, who is based in the Middle East. “The private companies I’ve spoken […]
Polymer trading – a great investment opportunity?
By Malini Hariharan I recently met a businessman at a dinner party. After exchanging the usual greetings he eagerly disclosed his plans for a new business venture – trading in polymers. “There will be three of us in this business; we plan to import polymers in bulk from Taiwan and China; each consignment will not […]
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