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Asian Chemical Connections

Aromatics May Suffer From Strong Reformer Economics

By John Richardson ASIAN aromatics producers are struggling from an oversupply driven both by weak demand for their products and strong overall reformer economics, the blog has been told. As this chart below illustrates for benzene, toluene and xylenes (BTX), the price declines for these base chemicals mirror those we have reported on extensively in […]

Iran Petchems Hit By New Sanctions

  Source of picture: irantrip1wordpress.com     By John Richardson IRAN’S ability to further develop its oil, gas and petrochemicals sectors has received further major blows from new rounds of United Nations and US sanctions. One June 9, the UN approved a fourth round of sanctions on the country, including restrictions on financial transactions, a […]

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 […]

China Polyolefin Buyers Smell Blood……

…..but time to party for some thanks to re-exports to Brazil Source of picture: edgsgonesouth.com   By John Richardson It’s a funny old world – or so it seems in poylolefins at the moment as traders re-export resin from China to Latin America and elsewhere. “I phoned up a trader in China the other day […]

China Labour Shortage Threat To Chem Demand Grows

“Sorry, but there’s more to life – I really don’t want to do this anymore…” Source of picture: China Daily   By John Richardson The labour shortage crisis in southern China – which one trader had claimed would last exactly ten days beyond the end of a recent polyolefins conference – is proving to be […]

Benzene: What Lies Beneath

A Ring of Truth? Source of picture: http://web.pdx.edu/~nathanh/benzene/benzene2.gif   By John Richardson TUMBLING Asian benzene prices are being blamed on weaker crude, itself a reflection of macro-economic worries over higher-than-expected US jobless figures, government debt problems in the Euro zone and tighter credit in China. “It’s not a question of whether, but when the secon dip […]

Thai Start-up Delays On Court Ruling: The Details

The Thai Supreme Court’s decision to uphold a September injunction halting development of $12bn of petrochemical and power projects could affect the on-schedule start-up of capacities of a large amount of petrochemicals capacity. Note the word could because, despite the court ruling supporting claims by environmentalists about the impact of pollution at the site, PTT […]

China Real Estate: When Is A Bubble A Bubble?

      Source of picture: www.managingthedragon.com By John Richardson I love the phrase used by Andrew Peaple of the Wall Street Journal in this article on China’s property “bubble”: Getting a straight answer is like “nailing jelly to a wall”, in other words xxxxxx impossible. I will be in Shanghai next week on a business […]

“Middle East To Control Basic Chems In 3-5 Years”

Abu Dhabi ahead in the race? Source of picture: www.gulftrackservices.com By John Richardson The global basic chemicals industry is likely to end up under the dominant control of the Middle East, and possibly Asia, within the next 3-5 years, a senior chemicals industry source told this blog. “We have known for a long time that […]

Naphtha Highest Level For More Than A Year

 Shelf-space to be in short supply again? Source of picture: www.zrdata.com   ASIAN naphtha prices hit their highest level for more than a year yesterday – reaching $701/tonne CFR Japan for second-half December open-spec material on “improved market conditions”. Earlier this week we picked up more reports of bleak demand in styrenics and fibre intermediates that […]

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