US EcoLogic to make strides in marketing its biodegradation-enhancing additive

(PlastEurope) -- Less than two years after it was first founded, US organic additive producer EcoLogic (Oakbrook Terrace, Illinois) is continuing to make strides in marketing its ⌠Eco-One biodegradation-enhancing additive. After just having its use approved for food-contact applications in Brazil, the US group now has reached an agreement with Argentine flexible packaging manufacturer La Primera de Cuyo (Mendoza), whereby the latter will start using ⌠Eco-One for a new line of polyethylene bags.

Thanks to the addition of Eco-One, the plastic bags will biodegrade in biologically active landfills, breaking the plastic down into soil and natural gases. EcoLogic points out that the additive does not impact the bag's normal product performance or its physical properties.

Welcoming the agreement, which comes on the heels of a distribution deal in Mexico, EcoLogic's sales and marketing director Sachin Shah said it ⌠marks another strategic advancement for EcoLogic in growing our presence throughout the world to help promote responsible solutions to plastic waste.

MRC

(MRC) -- From the beginning of the autumn, PET price from the Russian producers grew by roubles (Rb) 3,500/tonne, and made Rb64,000 - 67,000/tonne, including VAT, CPT Moscow, according to ICIS-MRC price report.

Over the first week of September, Russian PET quotation made Rb61,000 -63,000/tonne, including VAT, CPT Moscow. Because of an unsuccessful season, producers and converters had a large inventory stocks that didn't presage an advance in price in the near future. However, the situation had changed significantly by mid-autumn.


There were several factors for the price increase. Instability in the global economy resulted in foreign capital flight, which led to the rouble devaluation. In the Asian markets the prices hike of paraxylene and MEG caused rising of cost of domestic pellets production, that does not have its own feedstock chain. Asian market increase in PET prices made domestic pellets more profitable for local PET preforms producers. Converters preferred the Russian material, that stimulated producers to rise the shipment prices in the domestic market.

However, despite the more favourable price offer of the domestic producers, the demand for domestic PET didn't change significantly. Big feedstock inventories, as well as seasonality in consumption affected this.

Following last week results, Asian PET rices continue to decline. According to market players, export shipments of Korean PET in the CIS region were at USD1,620/mt, FOB. Russian rouble strengthening and the ongoing for the third week downward trend in Asia, diminish the competitive advantages of domestic pellets. However, the quotation of Russian producers is still more attractive for the polymer converters.

MRC

(Plastemart) -- Petrochemical operators in Thailand are unlikely to feel much effect from the policy to collect Bt1 per kilogram of LPG (liquefied petroleum gas) sales for the Oil Fund, as per The Nation. It is unclear whether users of LPG as feedstock, not as fuel, will be required to pay this contribution to the Oil Fund. It is expected that the Energy Ministry will meet Thai petrochemical producers to discuss the policy in detail before its implementation in January. The levy decision was resolved by the National Energy Policy Council last week to reduce the burden of importing LPG.

Even PTT Chemical, with annual demand of 400,000 tons of LPG, will face minimal impact from the levy. This is because of its planned merger with PTT Aromatics and Refining (PTTAR), one of the suppliers of LPG to PTTCH, which will allow the company to use LPG as feedstock internally without purchasing it.

MRC

(Plastemart) -- Purnendu Chatterjee promoted The Chatterjee Group plans to acquire West Bengal government's 45% stake in Haldia Petrochemicals (HPL), to become its largest shareholder with management and control. It is already the second largest shareholder with about 41% stake in HPL. As per Times of India, this move follows the path paved by the Supreme Court for divestment of state government's stake in the petrochemical firm with annual sales of Rs 10,000 crore. The government has appointed SBI Caps to do a valuation of the firm.

"We have got our right of first refusal and will exercise it to retain management and control of the firm. We are in talks with the government and are optimistic that the government will take a right decision in this case protecting interests of both the parties ," as per Anirudha Lahiri, President & CEO, TCG.

MRC

(ICIS) -- US expandable polystyrene (EPS) prices lost ground this week, slipping with the price of feedstock benzene, sources said on Tuesday. US EPS prices were assessed by ICIS at 87-94 cents/lb ($1,918-2,072/tonne, ┬1,400-1,513/tonne) DEL (delivered) for block and package material, down by an average of 4 cents/lb from prices at the end of September. The prices slid along with feedstock values in October, including benzene prices, which fell by 68 cents/gal, sources said.

"We are seeing raw material costs come off, and it makes sense that when it does that that we need to be a little responsive," said one producer, who added prices had fallen by 3-5 cents/lb since September.

Although suppliers will not realise most of the savings in feedstock costs until November, sources said competitive situations among producers helped push prices lower for October.

Buyers, who agreed that prices were down 3-5 cents/lb, said the price dip was not enough to encourage inventory building, particularly with the prospect of prices falling further.


MRC