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 […]
Asian Chemical Connections
IOC moves ahead with Panipat cracker
By Malini Hariharan Commissioning activity at Indian Oil Corp’s (IOC) new cracker and derivatives complex at Panipat, India, is progressing well, according to a company source. Operations at the new 857,000 tonnes/year cracker have started. “Onspec propylene is in the storage tank and ethylene is expected in a day or two,” he said. Among the […]
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 […]
China Chemicals Review And Outlook
Source of picture: www.destination360.com Dear Reader Please click here – ChinaChems2009AndOutlook.doc for my review of what happened in China last year and Q1 2010 and for some pointers for the rest of this year. All the best John Richardson
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, […]
China Polyolefins – A Bad Case Of Indigestion
By John Richardson IT IS always dangerous to assume that the future will be exactly the same as the past – a big lesson from the recent financial crisis. But so seems to have been the assumption amongst China’s polyolefin traders late last year as a close look at import statistics for December and January, […]
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 […]
Aramco Confirms Ras Tanura Location Review
Here’s a post from a guest blogger, my good colleague Prema Viswanathan – Deputy Managing Editor of ICIS pricing in Asia. Ras Tanura and Al-Jubail Source of picture: www.absoluteastastronomy.com By Prema Viswanathan A Saudi Aramco official has confirmed a Reuters report earlier this week that a change of location for the giant Ras Tanura […]
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 […]
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