Europe NOV PET price drops, more decreases possible

LONDON (ICIS) -- European November polyethylene terephthalate (PET) prices decreased by ┬70-100/tonne ($93-133/tonne) from October because of upstream pressure and poor demand, sources said on Friday.

⌠Prices have come down to commensurate with raw materials plus circa ┬10-15/tonne a producer said. Production costs came down by around ┬80/tonne, and depending on the starting point, PET prices have come down anywhere from ┬70-100/tonne from October to November. There is confirmation of November prices being agreed down at ┬1,235/tonne FD (free delivered) Europe, though buyers and sellers agree that not all sellers are in a position to go that low. The high end is confirmed at ┬1,290/tonne.
⌠Our freely negotiated deals are around ┬1,285/tonne for west European product in November, a buyer said. There are reports of spot deals being done below ┬1,230/tonne for domestic material, though only imports for December and January delivery are heard below ┬1,200/tonne. Further decreases are expected in December feedstocks paraxylene (PX) and monoethylene glycol (MEG) which may result in PET prices coming off again, at least from the high end of the November range.

Others estimate a PET decrease of ┬40-50/tonne. November has been a better month for sales than October, but the market is still acting with caution, particularly as the end of year approaches.

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

(MRC) -- Svetlana Grishina, senior manager of chemical products, Mitsubishi Corporation, and Viktor Bespalov, manager of chemical products, Mitsubishi Corporation, have joined the participants of The Polymers Summit-2011 to be held in Moscow on 30 November, 2011, in The Ritz-Carlton Moscow. The Summit is organized by MRC (Market Report Company) and supported by ICIS.

Among others, the Summit participants will discuss the issues of pricing, PET and PVC market conditions, PP surplus, resources saving. The Summit program is formed on the basis of questions to speakers. The reports will be short and the speakers' time will be mainly devoted to negotiations with colleagues.

The Summit site gives a possibility to ask questions to the speakers, invite for a cup of coffee and confirm or postpone a meeting. Registration on a site is free. For now there are 357 registered users of the Summit site - representatives of major Russian and foreign petrochemical companies.

MRC

(ICIS-MRC) -- Deputy director of Plastic Planet Oleg Drofa, Director of Plastic Planet Alexander Grishko, as well as Constantine Vashchenko, Director of Development, Plastic Planet, will take part in The Polymers Summit-2011 to be held in Moscow on 30 November, 2011, in The Ritz-Carlton Moscow. The Summit is organized by MRC (Market Report Company) and supported by ICIS.

Among others, the Summit participants will discuss the issues of pricing, PET and PVC market conditions, PP surplus, resources saving. The Summit program is formed on the basis of questions to speakers. The reports will be short and the speakers' time will be mainly devoted to negotiations with colleagues.

The Summit site gives a possibility to ask questions to the speakers, invite for a cup of coffee and confirm or postpone a meeting. Registration on a site is free. For now there are 357 registered users of the Summit site - representatives of major Russian and foreign petrochemical companies.

MRC

(Bloomberg) -- Braskem SA and Petroleos del Peru SA said they will seek to build a $3 billion petrochemical plant on the Peruvian coast.

The plant, which may start producing 1 million metric tons a year of polyethylene by 2017, would be the only petrochemical plant on Latin America's Pacific Coast, Braskem vice president Luis de Mendonca said today at the signing of a letter of intent in Lima.

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

(PlastEurope) -- In a move that significantly broadens its product portfolio, Rodenburg Biopolymers (Oosterhout / The Netherlands) in mid-November 2011 announced that it had acquired fellow Dutch bioplastics producer Optimum (Oosterhout). Financial details of the deal were not disclosed.

The purchase allows Rodenburg to serve both the converter and the compounder markets with biopolymers, including its own ⌠Solanyl compound based on reclaimed side stream starch from the potato processing industry. This is now complemented by Optimum's proprietary ⌠FlourPlast biopolymer, based on grain-derived products, which can be directly compounded with existing biopolyesters.

In addition, ⌠FlourPlast allows processors to fine-tune bioplastic or polyolefin formulations to achieve desired properties and reduce costs. Both bioplastics were developed in cooperation with Wacker Chemie (Munich / Germany).

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