The shoe might now be on the other foot (ouch…apologies) Source of picture: http://5magazine.files.wordpress.com/2010/09/reebok_zigtech_5-570×5371.jpg?w=606&h=570 By John Richardson NOT so long ago several major producers were evaluating new investments in low-density polyethylene (LDPE), as the almost-serious comment circulated among business development managers that it had become a speciality polymer. The reasons were: […]
Asian Chemical Connections
US PE Exports To Flood China
By John Richardson SPENDING time with your customers is always a good idea, but doing so seems to have become even more important during a very difficult year for China’s polyolefins business. The reason is a split between the fortunes of the top end of the business – the more differentiated grades of polyethylene (PE) […]
The Rest Of 2011 A Write-Off
By John Richardson SORRY to be yet again a bearer of bad news, but the awful China market continues to reflect a reality on the ground that remains in contrast to the views of chemicals analysts and top industry executives. And as we discussed yesterday when we looked at just one aspect of the problems […]
Structural Threats To 2012 China Rebound
By John Richardson SERIOUS structural problems with China’s economy threaten another disappointing year for polymer demand following flat, or even negative, growth for many of the major synthetic resins during 2011. Last week the blog visited Singapore and held discussions with several industry players and chemicals analysts. They agreed that polyethylene (PE), polypropylene (PP), polyvinyl […]
Middle East-China PE Exports Up 60%
By John Richardson NORTHEAST Asian polyethylene (PE) exports to China fell by 34% in January-August this year compared with the same period in 2010 as Middle East shipments surged by 60%, according to Global Trade Information Services – click here for a graph: ChinaPEImportsJan-Aug2011.ppt Exports from the North America Free Trade Agreement (NAFTA) region, which […]
HDPE-LLDPE spread expands
By Malini Hariharan and John Richardson The spread between high-density polyethylene (HDPE) film grade and linear-low density PE (LLDPE) prices in Asia has steadily widened over the last five months to hit a high of $110/tonne, raising questions on how long this can continue. LLDPE has been consistently cheaper than HDPE since May, a reversal […]
European Petchems: A Great Year For Some
By John Richardsn A brilliant seven months or a collapse in average profitability to its lowest level since end-2009 are two radically different takes on the fortunes of European petrochemicals so far this year. The description of a brilliant January-to-August was given to my colleague Nel Weddle, European olefins editor for ICIS pricing, by a […]
China’s Widespread Inventory Problem
By John Richardson THE extent of the inventory overhang in China has become more apparent thanks to a research note from Kunal Agrawal – Singapore-based refining and chemicals analyst with BNP Paribas. Kunal’s note – based on a survey of polyethylene (PE), acrylonitrile butadiene styrene (ABS), polyvinyl chloride (PVC) and butadiene producers and traders – […]
Propylene To Stay Expensive
By John Richardson A DEBATE is taking place over whether the price of propylene will decline to its traditional discount versus ethylene. In Europe, propylene prices went above ethylene for the first time ever during the second quarter of 2010. Since 2001, the price differential of ethylene over propylene had steadily eroded until it reversed […]
China Downside Continues To Surprise
By John Richardson THE statistics speak for themselves. For example: *The full HSBC August manufacturing index for China, which was released last Friday, showed that manufacturing input costs were rising at their fastest rate for four months, suggesting that the battle against inflation is a long way from being won. Although the final HSBC […]
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