Stronger demand for electronics on the holiday to boost US chemical industry

(ICIS) -- Stronger demand for electronics during the holiday shopping season should bode well for the US chemical industry, an analyst said on Tuesday. According to the National Retail Federation, 32% of consumers plan to buy electronics this year, the highest level since 2008, when the number was 30%. Last year, only 28% planned to buy electronics. Chemicals are a key component in electronics.


For example, chemicals make up about 33% of the value of inputs used to make semiconductors, which are widely used in cell phones, computers and MP3 players, the American Chemistry Council (ACC) said. Additionally, chemicals make up 38% of the value of inputs used to make CDs and DVDs.


Analysts say those items will once again be on shoppers' wish lists, especially on the day after the US Thanksgiving holiday, traditionally called Black Friday. Retailers usually hold sales, offering deep discounts on several items on that day. However, several buyers and sellers in the polymers and resins markets said that although demand is healthier year on year, it is well below the peak demand seen before the recession of 2008.


Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.


MRC

BASF is creating a new global business unit

(BASF) -- In recognition of the significant growth opportunity associated with the global battery marketplace, BASF is creating a new global business unit that will bring together its current and future battery-related electromobility activities. As part of this transition, a new global business unit ⌠Battery Materials will be formed, effective January 1, 2012. This business unit will integrate the existing battery activities of BASF's Catalysts division, which is focused on cathode materials development; its Intermediates division, which is focused on electrolyte formulations, and BASF Future Business GmbH, which is focused on next-generation lithium battery opportunities. This operating consolidation will take place throughout the first half of 2012, leveraging the collaborative efforts of each of these business teams to ensure a seamless migration for BASF and its market constituents.


Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.


MRC

Rexam is open to offers for its personal care plastic packaging business

(Plasteurope) -- Global consumer packaging company Rexam (London/UK) is open to offers for its personal care plastic packaging business. Divestment is one of the options under consideration, according to an interim management statement dated 17 November, following continuing weak performance. Earlier in the year the company said sales in the healthcare business were down 3.7%, with turnover in personal care static. Overall, the plastic packaging business is not performing to expectations, principally because of lower volumes and despite the cost actions that have been taken to protect profitability.


The weakness in plastic packaging has been offset by results in the beverage cans business, which are slightly ahead of plan. Outside Russia, where can sales have been soft, Rexam managed to grow volumes in Europe. In the US there was strong growth in specialty cans and the business is said to be on track to deliver profits ahead of 2010. Trading improved in South America, too, despite slower market growth.


Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.


MRC

Trade funding tightens for Iran polymers

(ICIS) -- Trade financing has tightened for polyethylene (PE) and polypropylene (PP) going in and out of Iran, after fresh waves of US-led international sanctions hit the Middle Eastern country, industry players said on Wednesday.


Middle Eastern and Asian players are facing difficulties settling trades with their Iranian counterparts amid growing pressures to isolate Iran over its suspected pursuit of a nuclear weapons programme. UK and Canada have also announced plans to impose further sanctions on Iran.


The US named Iran as an area of "primary money laundering concern this week, prompting financial institutions to take extra care in their dealings with the country.


South Korean banks, which used to act as a middle man for transactions involving the import and export of Iranian cargoes, are now being restricted from handling tri-party transactions, market sources said. Settlements should now only be directly between South Korea and Iran, thereby firmly shutting the South Korea route in trading of polymer cargoes for northeast Asian and Middle Eastern players, trader said. Some of these players have switched to selling through traders based in Dubai, UAE, but there are signs that this route, too, will close, they said.


Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.


MRC

Amerind Petroleum to establish a new refinery complex

(Plastemart) -- Amerind Petroleum Pvt. Ltd. has inked an MOU with the Andhra Pradesh government to establish an INR 12,000 crore refinery complex near Visakhapatnam in the PCPIR, BL reported. The company plans to relocate an existing US refinery.


Amerind has a technical collaboration with the American Industrial Corporation- a consortium of 14 US companies, to set up a petroleum refinery with initial capacity of 7.5 mln tpa of crude (150,000 bpd). To be set up on a turnkey basis by AIC, in phase I, it is proposed to relocate an existing running refinery acquired for INR 2,525 crore (about US$ 505 mln). In phase II, this would be expanded to 15 mln ton along with the setting up of INR 8.611 crore petrochemical complex.


Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.


MRC