Chemical News
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Basell launches metallocene-based PP Aug 21,2007
Basell has launched a new metallocene-based Metocene polypropylene (PP) copolymer, Clyrell EM248U, to target processors of clear, thin-wall, injection-molded (TWIM) food applications in the United States. According to the company, the grade is produced using an exceptionally clean technology with low levels of volatiles and oligomers. It is a reac...>>>
Chemical Process Solutions in German joint venture Aug 21,2007
20 August 2007--Chemical Process Solutions has entered into joint venture partnership with Schwaben Kunstoff of Germany to manufacture thermoplastic vessels of up to 80m3 and 3.5m in diameter. CPS, a maker of supply tanks, pumps and heat exchangers, is one of the UK’s largest makers of helically-wound thermoplastic vessels. CPS supplies mainly t...>>>
Polyethylene is one of the fastest-growing synthetic resins in China Oct 30,2007
By virtue of its excellent performance, polyethylene is regarded as one of the fastest-growing synthetic resins of China as per a report by Research and Markets. Currently, China has become the largest polyethylene import country and the second largest consumption country in the world. Influenced by global high oil price, RMB appreciation, stat...>>>
EU steel producers brewing anti-dumping complaint against China Oct 29,2007
BRUSSELS, Oct. 26 (Xinhua) -- Steel producers of the European Union (EU) are threatening to file anti-dumping complaints to the European Commission next week against rising imports from China, media reports said on Friday. "It will probably be next week, perhaps as soon as Monday," an industrial official, who declined to be named, was quoted as...>>>
NYMEX front-month crude settles at all-time high of $90.46/barrel Oct 26,2007
Front-month crude on NYMEX settled at an all-time high of $90.46/barrel for a gain of $3.36/b Thursday as the energy sector continued to soar in the wake of Wednesday's Energy Information weekly US oil data report. The EIA reported a 5.3 million barrel draw in crude stocks as imports plummeted to 9.1 million b/d. While US commercial crude stocks...>>>
EU debating proposed regulation to govern recycled plastics used in food packaging Oct 26,2007
Talks are underway on working documents from European Commission, that will form the basis of harmonised EU rules governing plastic materials and articles in contact with food, making it easier for processors to trade under the same requirements across the EU. The Commission's draft deals with mechanical processes for recycling plastic food packagi...>>>
NOVA Chemicals record strong performance by Olefins/Polyolefins sector Oct 26,2007
NOVA Chemicals Corporation (NOVA Chemicals) has reported net income of US$97 mln for Q3-07, on very robust Q3 market conditions for Olefins/Polyolefins business. This growth is expected to continue into the next quarter and beyond, mainly on strong domestic and export demand and improving margins due to price increases that exceed feedstock cost ch...>>>
Algeria, Venezuela discussing oil, other energy projects Oct 24,2007
Algeria and Venezuela are discussing oil, energy and other new cooperation projects, Venezuelan government officials said Tuesday. Venezuela's Energy and Oil Ministry said state oil company PDVSA President Rafael Ramirez and his Algerian counterpart, Chakib Khelil, will announce a host of new bi-national projects on Wednesday. The idea is tha...>>>
UK oil giant BP quarterly profits slide by 45% Oct 24,2007
LONDON, Oct. 23 (Xinhua) -- Britain's oil giant BP on Tuesday reported a 45 percent plunge in its third quarter profits, hit by a slowdown in production and problems in its refinery business. Underlying profits in the three months to Sept. 30 were 3.87 billion U.S. dollars, compared with 6.98 billion dollars in the same period a year earlier, t...>>>
Dow Declares Force Majeure for VAM at Texas City Aug 22,2007
Dow Chemical says it has declared force majeure for vinyl acetate monomer (VAM) at Texas City, TX due to “essential maintenance of critical plant equipment.” Customers will be placed on 50% allocation beginning September 3, and likely through the end of October, Dow says. The plant supplies North America, Latin America, and Europe. The plant mainte...>>>
Russia sees oil prices drop to $60 Oct 23,2007
BEIJING, Oct. 22 -- Russia, the world's second-biggest oil exporter after Saudi Arabia, forecast crude oil prices may drop to 60 U.S. dollars a barrel in a decade. "Oil is significantly overpriced," Finance Minister Alexei Kudrin said in Russian at a press briefing on Saturday in Washington. "The price is at a speculative level and has heated u...>>>
Thermoset Nanocomposites for Engineering Applications Oct 22,2007
Thermoset nanocomposites are complex hybrid materials, which integrate nanoparticles with polymers to produce a novel nanostructure, with extraordinary properties. Organic/inorganic hybrids are some of the most challenging nanostructures investigated to date. What differentiates nanocomposite materials from classical composites is the degree of con...>>>
Polyethylene Market Update, August 20, 2007 Aug 22,2007
Volume: Good Price: Slightly higher Spot Polyethylene markets were fairly active this past week. The market found some relief as most all producers have pushed their $.04/lb price increase until September, but have added a $.05/lb Sep 15th increase as support in case there are (weather related) supply disruptions. The possibility of such disrupt...>>>
Price trends of oil, polymer feedstock & commodity polymers in Asia for the week of October 15, 2007 Oct 18,2007
SUMMARY Crude oil futures spiked past US$83 per barrel in New York on release of data by the Department of Energy reporting a drop in inventories for the week. Naphtha prices have risen in line with robust crude prices. EDC prices have dipped due to slack demand from downstream buyers, and VCM prices stagnated despite a dip in upstream VCM ...>>>
Oil prices drop on U.S. oil inventory increase Oct 18,2007
NEW YORK, Oct. 17 (Xinhua) -- Oil prices dropped Wednesday after a stronger-than-expected U.S. energy stockpiles report offset geopolitical tensions centered on the oil-rich Middle East. New York's main futures contract, light sweet crude for delivery in November, lost 21 cents to settle at 87.40 U.S. dollars a barrel, the first close lower aft...>>>
Oil jumps above $88 despite big supply rise Oct 18,2007
NEW YORK, Oct. 17 (Xinhua) -- Oil marched to a new all-time high near 89 dollars a barrel on Wednesday as investors fretted over possible military action in northern Iraq and a potential supply crunch this winter. Turkey's parliament granted its troops permission on Wednesday to launch an attack inside Iraqi territory, despite international pre...>>>
Polystyrene Market Update, August 20, 2007 Aug 22,2007
Volume: Fair Price: Steady The spot Polystyrene market is still humming along; prices have been steady as there has been little impetus to drive it in either direction. There has been a light, but steady flow of spot railcars, priced along the full gamut of the $.70s/lb, based upon the quality of the resin. Producer inventory levels have been ke...>>>
Sinopec signs contract to build petrochem base in Hebei Aug 22,2007
Sinopec and Hebei Development and Reform Commission has signed a contract to build a petrochemical refinery base in Hebei Province. The complex will encompass an oil refinery with an annual processing capacity of 10 million tons and a 1 million ton ethylene unit. Will this agreement jeopardize similar plans by the China National Petroleum Corp....>>>
Sumitomo to buy Asahi Chemicals Aug 22,2007
United Kingdom (British Plastics & Rubber) -- As part of a bid to expand sales of polypropylene compounds in the Western automotive industry Sumitomo Chemical of Japan is to acquire the Asahi Kasei Chemicals PP compounding plant at Havant near Portsmouth, currently trading as AK & N (UK). The 40,000 tonnes plant is owned 65 per cent by Asahi Kasei ...>>>
Energy outlook in US grows dire Oct 18,2007
HOUSTON (ICIS news)--Energy demand will outpace new capacity in the US during the next ten years, industry forecasters said this week, raising concerns in the chemicals industry over feedstock supplies and energy costs. The latest 10-year forecast by the North American Electric Reliability Council (NERC) released on Tuesday said demand is growin...>>>
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