By Malini Hariharan It is the results season and numbers posted so far confirm that the last quarter has been rough with depressed demand, weak product prices and firm feedstock costs affecting earnings. Siam Cement Group’s EBITDA for the chemicals division dropped 25% in Q4 from the previous quarter, while sales revenue declined by 5%. […]
Asian Chemical Connections
India petchem projects update
By Malini Hariharan India’s major petrochemical projects are inching forward very slowly and the blog will not be surprised if there are more delays along the way. Reliance has yet to kick start its 1.4-1.6m tonnes/year cracker project adjacent to two refineries at Jamnagar, on the west coast of India. The cracker will be based […]
India Polymers Shine But Questions Persist
By Malini Hariharan Optimism has returned to the Indian polymer market fuelled by a sharp recovery in prices and buying sentiment over the last few weeks across Asia. The talk these days is mainly about tightness in availability of polyethylene (PE) and polypropylene (PP) and when producers will announce the next price hike. Supply is […]
India PP dumping: The story continues
By Malini Hariharan The fight against anti-dumping duties (ADD) imposed by India on polypropylene (PP) exported by Saudi Arabia, Singapore and Oman is not yet over. Some of the major companies that face ADD have taken the matter to the Indian Customs, Excise and Service Tax Appellate Tribunal and the issue is due to come […]
Reliance Reveals Major Investment Plans
By Malini Hariharan India’s Reliance Industries is evaluating investments in a number of chemicals including olefins and derivatives, acetyls, elastomers and fibre intermediates to increase its petrochemicals production from crude, a senior company executive has told the blog. “We would like to maximise petrochemical production from our refineries, swing product slate from fuel […]
Reliance’s polyester play
By Malini Hariharan With Indian polyester demand growing steadily at 10%/year Reliance Industries has renewed its focus on expansions along the chain. Projects that were put on hold after the 2008 economic crisis have been revived and deadlines set. The company’s plans include two new worldscale purified terephthalic acid (PTA) plants and investments in paraxylene […]
China Economic Hype And Crude Oil
Let’s catch the bus from now on…. Source of picture: hybridcars.com By John Richardson THE blog has long been worried about the difficulty, probably the impossibility, of accurately measuring real Chinese growth. And it gets harder as the country now has some 130,000 polyolefin traders and distributors, according to an estimate we heard last […]