European polypropylene prices are under downward pressure

(ICIS) -- European polypropylene (PP) prices are under downward pressure following the settlement of the November propylene contract price, sources said on Thursday.

The European November propylene contract price was fully settled at ┬1,013/tonne FD (free delivered) NWE (northwest Europe) on Thursday, down by ┬55/tonne ($75/tonne) from October.
⌠I have just put the phone down from settling November with my first supplier, said a medium-sized PP buyer. ⌠They have given me a reduction of ┬55/tonne.

On a spot basis, net homopolymer injection PP prices are now trading below ┬1,100/tonne FD NWE in some cases. The last time this level was reached was in March 2010.

Monthly pricing on a gross basis is now reported at ┬1,245/tonne FD NWE at those accounts where the ┬55/tonne decrease has been applied. A similar level was also last reported in March 2010. This price is subject to discounts.

Demand in October was not as bad as many had expected, but domestic European volumes were boosted by exports and spot lots to large buyers at keen prices. November demand is expected to be slow, given the current economic climate.

MRC

(MRC) -- The resumption of DOP plasticizers production at Gazprom neftechem Salavat along with imports will allow to saturate the Russian market. This week the price correction has already started at the DOP market, according to ICIS-MRC price report.


In October, the limited supplies of DOP plasticizers to the Russian market, coupled with the rouble devaluation were the main reason for the price hike. The domestic prices were in the range of rouble (Rb) 74,000-78,000/tonne, VAT, FCA. By early November, the situation in the Russian market of DOP plasticizer had begun to stabilize.


By the beginning of the month, Gazprom neftechem Salavat had resumed the production of DOP after a scheduled turnaround. Sufficient volumes of imported material also have appeared in the market. As a result, prices began to decline. The Russian DOP in November was offered on average for Rb72,000-75,000/tonne, VAT, FCA. The offers for the supplies of the Ukrainian plasticizer are in the range of Rb78,000-79,000/tonne, VAT, CPT.

MRC

(IMCDGroup) -- Teknor Apex Company has appointed its long standing exclusive European distributor for PVC compounds, IMCD Group, as their partner for the distribution of a new generation of Apex PVC compounds for medical applications. The new compound series provides the market with the highly sought diethyhexyl phthalate (DEHP) replacement with alternative plasticisers, such as citrates and trioctyl trimellitate (TOTM).The DEHP replacement includes grades for both extrusion and injection moulding applications, such as tubings for intravenous (IV) sets, catheters, tracheal cannulas, syringe bodies, luer connectors and many others.

As these compounds are specially made for the medical industry, the Apex medical PVC compound series comprises besides standard grades also gamma sterilisation proof grades, frosty effect grades and other specialties. Teknor Apex also customises compounds in order to match specific customer requirements.

MRC

(Plastemart) -- Saudi Basic Industries Corp (SABIC) has set up a new venture capital arm to invest in innovative technology and companies as it seeks to expand beyond petrochemicals, which have made it one of the world's largest chemicals companies, as per Reuters. The new firm, SABIC Ventures, will be based in the Netherlands and will invest in technologies and new business. It will be funded through a so-called innovation fund that will be managed by the company.

"SABIC Ventures aims to build up a portfolio of technology options for the company's future businesses," the Saudi chemicals giant said in a statement. "It will do this by investing directly both in seed stage, early stage and late stage companies. The new organization will both lead investment, co-lead and invest alongside venture capitalists." The new venture firm will focus on investing in the U.S., Europe and Asia, SABIC added. It will target investments in advanced materials and composites, alternative feedstocks for chemicals and materials as well as alternative energy and clean technology.

MRC

(MRС) -- Over the nine months, the index of production of plastic products in Russia grew by 15.1% year on year. The highest growth in production was seen in the sector of polymer pipes, according to MRC ScanPlast.


In January-September, the increase in production of plastic goods made 15.1% compared to same period of 2010. In September, the production increased by 7% compared to August, but in comparison to September 2010, on the contrary, there was a decrease in production volumes.
This year the most dynamic growth has been shown in the production of polymer pipes and fittings.


According to the Russia's Rosstat, in September, the total volume of polymer pipes and fittings made 49,900 tonnes. In general, over the nine months, the total volume of output by the Russian producers made 361,600 tonnes, that was by 28,6% more year on year. The peak in production of plastic pipes and fittings took place in August - 53,800 tonnes.


In January - September, the total volume of production of panels, laminats and polymer films made 623,600 tonnes, that was by 4% more year on year. In September, the total production of unreinforced and non-combinate panels, laminats, polymer films made 64,300 tonnes, and production of panels, laminats and porous films reached 15,000 tonnes.


There was quite a large growth of production of PVC-made goods, such as window profiles and window sills. According to the official data from Rosstat, the nine months' total production of windows, window cases and polymer sills reached 14,135 mln square meters, that was by 14.6% more year on year. The production of polymer doors and door cases has grown by 16.1% to 732,600 square meters.

MRC