PVC export prices to decline in the extrenal markets

(MRC) -- Chinese producers cut export prices for shipment in November under the pressure of weak demand for PVC in the external markets. The suppliers of the North American PVC left prices at rollover from October, according to ICIS-MRC Price report.

Slumping demand in the foreign markets, as well as a notable drop in export quotations of the resin from the U.S. forced Chinese producers to cut back prices further. Chinese producers of the acetylene PVC, traditional for the Russian market, cut export prices for November, on average, by $50/t.


In August, many Russian companies refused to buy PVC in China. As a consequence, August imports of acetylene resin to Russia exceeded 17,000 tonnes, whereas in September it dropped to 3,300 tonnes. A bigger share of this volume was delivered by July contracts.


Suppliers of the North American PVC left export prices for shipment in November at rollover from October. In October, some producers decreased export quotations of the resin by $120/t compared to September. Under the pressure of a weakening demand in key markets, particularly in Asia, some market players are expecting decline in export prices of PVC from the U.S. in November.

MRC

(Trend) -- A ceremony laying the foundations of a petrochemical complex Petkim, in which the Azerbaijan State Oil Company of the Azerbaijan Republic (SOCAR), has a share, took place today in the Turkish city of Izmir, Petkim told Trend over phone on Tuesday.

JV "SOCAR-Turcas", in which SOCAR has a 75 per cent stake, owns 51 per cent of the shares in this, the largest Turkish petrochemical complex Petkim. The new refinery will be primarily focused on providing raw material.

The amount of investment needed to build the oil refinery will hit $5.5 billion, and the total capacity, 10 million tons. Oil products produced at the plant will be used to meet Petkim and the Turkish domestic market's needs, as well as countries of the Mediterranean region.


MRC

(Sabic) -- At Plastimagen Mexico 2011, SABIC's Innovative Plastics business unit announced an industry first: new one-piece, reusable concrete forms made from the company's high-performance LNP Verton long glass fiber-reinforced composite. The new corrosion-resistant composite forms were developed by SABIC and Meccano de Mexico, a top Mexican construction supply company, to replace heavy traditional multi-piece steel forms, reducing weight by up to 40 percent, cutting cycle times from three hours to only a few minutes and helping to reduce overall construction costs for more-affordable housing. Today's announcement is a building & construction industry milestone for both Meccano and SABIC that showcases SABIC's commitment to working side-by-side with customers to help them achieve business success.

MRC

(Pallmann) -- Bernd Huber has been appointed CFO of Pallmann Group, effective October 1. Pallmann is the world's largest specialist manufacturer of machines for materials size reduction and processing technology.

Mr Huber is ideally qualified for this position because of his long business management experience in the machine construction sector, as well as working for associated automotive suppliers and also in the consumer goods industry.

His professional career has included 10 years as CFO and later as CEO of a medium-sized automotive supplier company which developed and manufactured automotive powertrain parts and modules for European car manufacturers. His work also embraced the company's other area of expertise, mainly the development, manufacture and international distribution of hydraulic parts for machine construction.

Most recently, Mr Huber has been Head Group Controller for a global automotive supplier company. Here, the focus was on the manufacture at all 13 plants, with responsibility for the distribution/development and joint ventures for market development.

MRC

(ICIS) -- US Celanese's top executive hinted on Tuesday that the company was considering building a new acetic acid plant, although he offered no specifics about where or when it might be built.
In a conference call that focused frequently on acetic acid, Celanese chief executive David Weidman said there had been no new plants built since 2008 or early 2009. ⌠At some point you shouldn't be surprised if we announced a new acetic acid plant that was economically attractive relative to debottlenecking or any other option that we had," Weidman said at the end of the call. He added that acetic acid is the foundation of the company, and Celanese plans to maintain that position.

MRC