By Malini Hariharan Is this the right time to buy petrochemical stocks? Asian equity analysts are having a tough time answering this question being posed by portfolio managers across the region. They are seeing a ‘mini downcycle’ emerging with a weaker second half relative to H1 2010 and potentially a weak H1 2011, explained one […]
Asian Chemical Connections
Financial Sector Fear Looms Large
By John Richardson WE will explore the following issues in a lot more detail over the coming days, assuming that the crude and financial market turmoil continues. But for now here follows the interpretation of the crisis from a source with a major polyethylene (PE) producer. The themes are consistent with what we have been picking up […]
Price slide intensifies
By Malini Hariharan The weakness in Asian markets is spreading with steep drops also being reported in olefin prices. Ethylene prices dropped by $160-170/tonnes last week while propylene declined $90-110/tonne, writes my colleague Soo Hwee, ICIS pricing editor for olefins. The poor market conditions were attributed to softness in crude oil and naphtha prices as […]
Asia Resurgent On Refinery Integration
Source of picture: omniglobal.com By John Richardson A FASCINATING theme to emerge from last week’s Asia Petrochemical Industry Conference (APIC) in Mumbai was a growing belief in refinery integration in Asia as a means of being able to compete with the Middle East. Reliance Industries is planning a giant cracker complex based largely, […]
Total Petrochemicals Makes Big MTO Progress
A Chinese coalminer Source: www.guardian.co.uk Over the next week, as well as keeping track of more immediat events, we will be reviewing and analysing what was said in and around last week’s Asia Petrochemical Industry Conference (APIC) in Mumbai. One of the most-interesting stories to emerge was a clear message from close to Total […]
APIC Confidence A Dangerous Thing?
Mumbai at night Source of picture: travelygan.wordpress.com By John Richardson in Mumbai POLYOLEFINS will not see a margin collapse this year due to persistently strong demand growth and continued problems with new-capacity start-ups, said numerous industry sources on the sidelines of the Asia Petrochemical Industry Conference (APIC) in Mumbai. The belief seems […]
Qatar eyes cracker capacity hike and propane cracking
By Malini Hariharan Ras Laffan Olefins Co (RLOC) is studying an expansion of its new cracker by using propane as a feedstock. At a recent news conference, Mohammed Yousef Al Mulla, general manager of Qatofin, the Qatar Petroleum-Total joint venture downstream of the 1.3m tonnes/year cracker, said that while the cracker was currently running at […]
All mixed up in the West
By Malini Hariharan The blog has been writing about the softening in olefin and polyolefin prices in the US. But the European market presents an interesting contrast offering arbitrage opportunities for those willing to take the risk. Operating rate reductions have been reported at crackers in Priolo, Italy; Tarragona, Spain; Carling, France; Cologne, Germany; and […]
China: Yet More Record Imports
By John Richardson The extraordinary China import story continues, raising yet more questions about where all these volumes are going at a time when the government is trying to cool the economy down. Does this mean that speculation continues apace because of all the money still sloshing around the economy thanks to last year’s record […]
US Olefins Price Falls Could Be Turning Point
Flagging-up the dangers… Source of picture: http://www.illusionsofdander.com/2007/08/car-dealerships-and-flag-companies-may.html By John Richardson THE recent 22% and 18% falls in US spot ethylene and propylene prices might be a sign that this yeat’s price rallies have been more the result of stronger crude and petrochemicals re-stocking and supply constraints than sustainable demand increases. As my colleague Nigel Davis, editor of the Insight section […]
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