By John Richardson THE majority of financial analysts seem to be clinging on to the hope that the recovery in petrochemicals demand from China is about to happen. This doesn’t just apply to our industry. Analysts across many sectors appear to have staked their reputations on a return to the Old Normal of booming […]
Asian Chemical Connections
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 […]
Petro Rabigh phase 2 and Aramco’s ambition
By Malini Hariharan Petro Rabigh, the Saudi Aramco and Sumitomo Chemical joint venture, has moved to the next round of its ambitious phase 2 expansion which includes a new aromatics facility and a number of value-added derivatives. Construction tenders for seven packages have been issued and bidding is due to close on 1 October. Tenders […]
Ethylene And PE Markets Decline Continues
By John Richardson THE decline in Asian and European ethylene and polyethylene (PE) markets continued last week with no sign of the recovery that producers still hope will take place by end-June at the latest. Asian ethylene prices slipped by a further $60-70/tonne to $1,130-1,170/tonne FOB Korea to reach a six-month low, according to our […]
Saudi Crackers Could Soon Be At 100%
By John Richardson SAUDI ARABIA’S crackers could soon be running at operating rates of 100% again following widespread reports quoting the al-Hayat newspaper that the country’s crude production is set to rise to 10m barrels a day in July. Al-Hayat, a Saudi newspaper, is seen as a reliable indicator of government intentions. We reported last week how […]
Saudi Petchem Output Increase
By John Richardson YESTERDAY’S fractious OPEC meeting – where members were unable to agree on a proposal by the four biggest members to raise output – may not necessarily be good news for petrochemicals. For a long time the industry has worried about Saudi Arabia’s potential to raise crude output from approximately 8.5m barrels a […]
China Polyolefin Demand Growth Flat In 2011
By John Richardson POLYOLEFINS demand growth in China is likely to be flat in 2011 over last year, a senior industry executive and a consultant have told us. “I am quite pessimistic and don’t see the Chinese government winning the battle to bring inflation below 4% during this year (its target) and so the credit restrictions […]
Shell Firms-up Interest in New US Capacity
By Malini Hariharan Shell Chemicals has become the latest entrant to a steadily growing list of companies looking at new cracker investments in the US. As we wrote about last week, Shell Chemicals told us in an interview at the Asia Petrochemical Industry Conference (APIC) in Fukuoka, Japan, that it was evaluating brown and greenfield […]
New Normal Course In Frankfurt On 16-17 June
The blog is excited about its first New Normal seminar in Frankfurt, Germany this month. It follows February’s successful launch in Singapore, and is being held in association with International eChem on 16-17 June. The Workshop aims to provide a comprehensive understanding of the factors that will impact the petrochemical market over the next few years: […]
Global Polyolefins At A Tipping Point
By John Richardson A GLOBAL slowdown in manufacturing is already being reflected in European and US polyolefin markets as anxiety in the industry grows over the prospects for the rest of this year. European June contract prices for ethylene and propylene have declined after seven consecutive months of increases. Ethylene contracts have slipped by Euros45/tonne […]
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