By Malini Hariharan After seeing very strong pricing for the last few months US propylene and polypropylene (PP) buyers have started talking of imminent correction. PP buyers expect a 7-10cent/lb ($154-200/tonne) drop in May prices, reports ICIS news. The prediction is based on improved propylene availability. Earlier this week the US Energy Information Administration (EIA) […]
Asian Chemical Connections
Chinaplas: Optimism, consolidation, new plant start-ups and more
By Malini Hariharan Chinaplas has just concluded and my colleagues have filed some great reports from Shanghai. Worries about a margin squeeze in the second half of the year persist but polymer producers seem to be increasingly confident about long-term growth prospects. The chairman of the China Plastics Processing Industry Association (CPPIA) talked of the […]
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 […]
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 […]
Optimism as China returns
By Malini Hariharan The China market appears to have started the year of the tiger on a strong note. We are not yet hearing a roar but at least it is not a whimper. Pic source: Xinhua A polyolefin market participant says that traders have started making enquiries after the Lunar New Year holidays. End-users […]
India to investigate PP imports from Korea, Taiwan and the US
By Malini Hariharan India will soon initiate an anti-dumping investigation into polypropylene (PP) imports from South Korea, Taiwan and the US. This follows an application made by Indian PP producers last year. A couple of market sources have forwarded the letter that has been issued to the embassies of the three countries and a government […]
India growth story – Part 3
By Malini Hariharan Some numbers today on Indian polyolefin and polyvinyl chloride (PVC) demand growth during April-December 2009. The strong growth trend noticed in the early part of last year continued and belied earlier expectations of a slowdown because of a drought over parts of India. PVC and polypropylene (PP) recorded the fastest growth rates […]
The Indian growth story – part 2
By Malini Hariharan A few weeks back I had written about robust demand growth figures emerging from the Indian polymer market. I will be posting some numbers over the next few days but ahead of that I would like to highlight what industry players have been saying on the major growth drivers and also developments […]
Braskem makes its first US move; acquires Sunoco PP assets
By Malini Hariharan Less then a week after the blog had highlighted Braskem’s plans for global growth through acquisitions the company has announced that it will buy the polypropylene (PP) assets of US-based Sunoco. The $350m deal, still subject to regulatory approvals, gives Braskem 950,000 tonnes/year of US capacity and makes it the third largest […]
Map Ta Phut impasse continues
By Malini Hariharan There is no light yet for companies whose projects have been suspended at Map Ta Phut. Last Friday, Thailand’s Central Administrative Court rejected 30 petitions submitted by companies looking to resume work as their projects had received environmental clearance and would not create pollution. “The outlook is not promising,” says a Bangkok-based […]
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