China's annual imports of plastics fell in March because of higher prices

(ICIS) -- China's annual imports of plastics fell in March because of higher prices, which in turn, provided strong opportunities for exports, industry sources said on Tuesday. The country imports hundreds of thousand tonnes of polymers each month, but volumes of plastics taken in notably declined in March, while exports showed sharp year-on-year increases, according to data from China Customs. Export volumes, however, are significantly lower than imports.

It took in 3% less high density polyethylene (HDPE) in March at 357.077 tonnes, while its exports of the same product more than tripled to 21.663 tonnes, according to the data.

For linear low density polyethylene (LLDPE), China's imports fell 14% year on year to 234.881 tonnes, but its exports of the polymer nearly quadrupled to 4.677 tonnes.

Its low density PE (LDPE) imports slumped 45% year on year to 124.136 tonnes in March, while it shipped out 151% more LDPE at 7 KT.

PP import volume also slipped, down 9% at 339.240 tonnes in March, with a corresponding sharp increase in exports at 15.478 tonnes, nearly double the March 2010 levels, according to China Customs.

China's polyvinyl chloride (PVC) also fell 12% last month to 130.548 tonnes, while exports surged by half to 35.978 tonnes.

MRC

(ICIS) -- US-based Dow Chemical is building its on-purpose propylene plant as a strategy to ensure reliable feedstock supply for its downstream products, a consultant said on Monday. Dow announced plans to build a propane dehydrogenation (PDH) plant for start-up in 2015. Dow is also considering a second propylene plant with a possible start-up in 2018.

An on-purpose propylene plant would use propane as a feedstock to produce solely propylene. Most of the propylene in the US is produce as a byproduct - either by naphtha crackers or by fluid catalytic crackers at refineries.

At the same time, refiners are becoming less willing to supply propylene to the chemical industry. Refineries use propylene as a feedstock to produce alkylate, an octane-boosting blendstock for gasoline.

MRC

(BP) -- BP Exploration & Production, Inc. signed a ground breaking agreement with federal and state agencies that will accelerate work starting this year to restore areas of the Gulf of Mexico that were affected by the Deepwater Horizon accident.

The agreement commits up to USD 1 bln to projects that will restore injured natural resources in the Gulf at the earliest opportunity. It allows projects important to the Gulf's recovery to begin now, as early restoration projects, rather than waiting for the Trustees to complete all of the Natural Resource Damage Assessment (NRDA) studies that are underway. The projects will undergo public review before they are funded, and priority will be assigned to projects aimed at improving areas that offer the greatest benefits to wildlife, habitat, and recreational use.

Shortly after the incident, BP began working with federal and state agencies to collect data needed to assess damages to natural resources, through the NRDA process. Over 100 cooperative studies are underway to evaluate the potential for injury to all types of wildlife and habitat in the Gulf of Mexico.
Under the expedited restoration framework made possible by this agreement, and to allow restoration to begin as quickly as possible, the Trustees will use the study data they have collected to date to identify injuries that are evident now and propose plans to restore those resources at the earliest opportunity, focusing on projects that can start in 2011 and 2012.

MRC

(Recycling International) -- A joint-venture PET recycling plant that Coca-Cola Co. opened with great pride two years ago in Spartanburg, South Carolina, USA, has been closed down, according to a report in the specialist publication PlasticsNews.

United Resource Recovery Corp. reportedly shut in the first week of March and all 50 of the factory's workers were laid off, with virtually the entire office staff laid off shortly afterwards. In addition, John Burgess, President of Coca-Cola Recycling, has allegedly been placed on indefinite leave.

According to the PlasticsNews report, sources are claiming only around 1 million pounds of recycled PET from the Spartanburg plant - equivalent to only a fraction of the plant's nameplate capacity of 56 million pounds - actually wound up back in PET bottles.

MRC

(Plast Europe) -- Belgium's Fremach - a producer of plastic components for the automotive and E&E industries - plans to invest EUR 8-10 mln into building its own production and storage facilities in Trnava / Slovakia. Local subsidiary Fremach Trnava is to quit its current rented offices and move into the new facilities by the end of this year, a company spokesperson told Plasteurope.com.

The new 24,000 m2 site will house a storage facility as well as 38 injection moulding machines. Fremach plans to add a varnishing line and up to seven new injection moulding machines. Following the move, Fremach Trnava's workforce of 350 could be raised by another 50-100 employees.

The Belgian group's Slovak subsidiary manufactures sockets, fasteners and control panels, among others. Each year, Fremach Trnava processes about 6.3 KT of plastics, mostly ABS, PC and PA 6.6. The company emerged as part of the former Punch Trnava, which Fremach had acquired in 2007.

MRC