Chemical News
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Oil prices rise to US$73 Sep 03,2007
Oil prices, that steadied at lower levels in the previous session on slower than expected economic growth figures and profit-taking, have moved up marginally to US$73. Light, sweet crude for October delivery inched up to US$73.47 a barrel in Asian electronic trading on the New York Mercantile Exchange, early morning in Singapore. Concerns of the...>>>
Price trends of oil and polymer feedstock in Asia for the week of Sep 3, 2007 Sep 04,2007
SUMMARYCrude oil futures spiked to a four week high, rising to US$74.04 a barrel for October delivery in the week of Sep 3, 2007 on the New York Mercantile Exchange, on account of a sudden drop in inventories.Naphtha rose in line with robust crude prices. Ethylene prices dropped sharply as the market continued to maintain a downbeat mood. P...>>>
Russia boosts rubber and plastics production Aug 22,2007
21 August, 2007 – Russia’s rubber and plastic products sector has increased its output by 21.5% in the past year, according to government figures. Polypropylene shot up 67% in the period from January to July 2006 to the same period this year, according to a news report by the Russian news agency Interfax. During the same period, polyethylene ...>>>
The Up and Down China TDI Market Expecting Stability Aug 23,2007
22 Aug 2007 - The first half of 2007 has witnessed the fluctuation and accidents taking place in domestic TDI market, which has been significantly influenced by the suppliers' shutdown in Mistui, BASF and Gansu Yinguang, as well as the price leap caused by TDI blast in Cangzhou Chemical. Such a circumstance caused a grim challenge for suppliers, tr...>>>
Mexico's main oil, petrochemicals ports remain closed: ministry Aug 23,2007
All Mexico's oil and petrochemicals ports remained closed to shipping late Wednesday as Hurricane Dean made landfall in the state of Veracruz, the Ministry of Communications and Transportation reported. Earlier, state Pemex had said that, with stocks of 10.5 million barrels on-hand, it was ready to resume crude shipments as soon as the port...>>>
Oman Petrochemical Industries Company faces delay in completion Aug 24,2007
The mega petrochemicals and plastics project at Sohar, Oman seems to be delayed. The project, to comprise a 1 mln tpa ethylene cracker, three world-scale PE and two PP plants was estimated to start up in 2008-2009, as per original plans. The project, planned by Oman Petrochemical Industries Company (OPIC), is a partnership between Dow (50%), Oman's...>>>
US propylene stocks plummet 100,000 bbls in two weeks Aug 24,2007
US propylene stocks for non-fuel use dropped 75,000 barrels in the week ending August 17, an analysis of the weekly Energy Information Administration showed Thursday. Stocks levels were at 2.865 million barrels, down from 2.940 million barrels last week. Moreover, the week ending August 17 brought a decrease of 100,000 barrels ove...>>>
Dow in Talks on Russian Petchem JV? Aug 27,2007
Nikochem (Moscow) is in talks with Dow Chemical on a possible joint venture to build a $3-billion petrochemical complex at Volgograd, Russia, local press reports say. The complex would be built on the site of Kaustik (Volgograd), Nikochem’s chlor-alkali subsidiary. It would have capacity for 500,000 m.t./year of polyvinyl chloride (PVC); 450,000 m....>>>
Chinese magnesium ingot prices gain on bullish domestic market Aug 29,2007
Chinese pure magnesium ingot spot prices firmed further this week to $2,650-2,680/mt FOB China, up compared with $2,600-2,650/mt FOB China quoted in early August, local industry sources told Platts on Tuesday, adding that some spot material was settled at a high of $2,700/mt FOB Tianjin, China. Traders said the domestic market was bullish, led by s...>>>
Price trends of oil, polymer feedstock & commodity polymers in Asia for the week of August 27, 2007 Aug 29,2007
SUMMARY Crude oil futures dipped marginally to US$71.09 per barrel for September delivery in the week of August 27, 2007 on the New York Mercantile Exchange, on account of a sudden unexpected rise in inventories. Naphtha dipped in line with falling crude prices. Weaker buying sentiment has caused a sharp drop in ethylene and propylene price...>>>
Price trends of oil, polymer feedstocks & commodity polymers in Asia for the week of August 20, 2007 Aug 22,2007
SUMMARY Crude oil futures rose marginally to US$72 for September delivery in the week of August 20, 2007 on the New York Mercantile Exchange. The past few weeks have witnessed a dip in prices prompted by news of a US economy slowdown.Naphtha rose despite dipping crude oil prices, as a result of rising demand. Persistent stringent suppli...>>>
Polypropylene Market Update, August 20, 2007 Aug 22,2007
Volume: Higher Price: Consolidating Spot Polypropylene prices have pushed about $.01/lb higher so far this month, now reaching into the low $.60s/lb. Downstream inventories are comfortable to low and US processor demand is still struggling, so this is clearly still a cost-driven scenario. The recent market has been supported by higher monomer co...>>>
Polymer Market Update, August 20, 2007 Aug 22,2007
It was a very nervous week of trading for both the energy and resin markets. The threat of a double punch from Erin and Dean brought on frightening reminiscence of the devastating twin hurricanes of 2005. After a pleasantly non-eventful hurricane season last year, this current weather market has encouraged some resin buyers to consider building som...>>>
Polymer Future trading yet to take off in India Aug 21,2007
Four months after it launch of futures trading in polymers in India, NCDEX seems to have met with little success. The daily average volumes in PVC has been ruling at just around Rs 50-60 lakh as against the target of close to Rs 100 crore. Till date there has been no trading in Linear Low Density Polyethylene (LLDPE) and Polypropylene (PP). The ...>>>
One dies in petrochemical plant blast in Romania Aug 20,2007
A powerful explosion at Romania's biggest petrochemical complex Oltchim, located at the town of Ramnicu Valcea, left one dead and seven wounded. The accident is believed to have been caused by a failure of the circulation pump that increased the pressure at one of the plastic reactors and triggered the blast. No toxic leakage has been reported....>>>
Domestic demand to be driver of growth in Saudi Arabia from 2007-2010 Aug 21,2007
Domestic demand is said to be the main driver of growth in Saudi Arabia for the period 2007-2010, as per a report by Jadwa Investment. As per the report, mega project implementation and broad liberalisation will drive real non-oil private sector growth up to an average of nearly 8% with growth being fastest in manufacturing, communication, finance ...>>>
Terra Nostra expects strong copper prices to continue this year Aug 20,2007
Terra Nostra Resources Corporation, majority owner of two China joint venture companies in the copper and stainless steel industries, today said that the recent price levels for copper, seen substantially as a result of demand for the metal out of China, help position the Company to show strong growth within its copper production business this year...>>>
Price trends of oil, polymer feedstocks & commodity polymers for the week of 13th August 2007 Aug 17,2007
SUMMARY Crude oil futures slumped to US$71.5 for September delivery in the week of 13th August 2007 on the New York Mercantile Exchange. This dip is in continuity to the decline prompted by news of a US economy slowdown.Naphtha declined in line with falling crude oil prices.Persistent stringent supplies continue to prompt higher ethylen...>>>
Kemira has completed its strategic review of the Pigments business unit Aug 16,2007
15 Aug 2007 - Kemira Oyj has concluded the evaluation of strategic alternatives for its business unit Pigments. Based on the review, Kemira will remain the owner of Pigments and continue to run it as part of the Kemira Specialty business area along with the ChemSolutions and Chemidet businesses. Evaluation process continues for Chemidet business un...>>>
BASF adds third leg to Ultrason family Aug 16,2007
15 August 2007 – BASF has added a polyphenylsulphone to its Ultrason family of high performance amorphous engineering polymers. The latest addition is Ultrason P, which forms a third component of the range and is being made on the company’s Ludwigshafen plant, which is currently being doubled in size to 12 000tpa. Ultrason P combines the high me...>>>
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