In India spot PE and PP import prices to fall for January shipments

(ICIS) -- India's spot polyethylene (PE) and polypropylene (PP) import prices are likely to fall for January shipments as buyers hesitate to stock up on the material while the country's currency - the rupee - is being battered in the foreign exchange market, industry sources said on Monday.

In the week ended 16 December, average low density polyethylene (LDPE) film spot prices were assessed at USD1,380/tonne (EUR,063/tonne) CFR (cost and freight) Mumbai, down USD5/tonne from the previous week; linear low density polyethylene (LLDPE) at USD1,250/tonne CFR Mumbai, down USD25/tonne, according to ICIS.
High-density polyethylene (HDPE) film average prices were at USD1,315/tonne, down by USD5/tonne from the previous week, while PP raffia average spot prices were assessed at USD1,340/tonne CFR Mumbai, USD25/tonne lower week on week, ICIS data showed.

A much weaker Indian rupee against the US dollar translate to much higher prices of polymer imports compared to domestic material, they said. The rupee fell to a record low of Rs54.30 to the US dollar on 15 December, representing a more than 18% decline from the highs hit in July, on concerns about the country's slowing economic growth, according to Reuters.

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The innovation area plays a strategic role in helping the company reach its target of becoming the leader in sustainable chemicals by 2020.

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(Lanxess) -- A Rubber Excellence Partnership was announced by representatives of the synthetic rubber manufacturer LANXESS, the German Institute of Rubber Technology DIK (Deutsches Institut fur Kautschuktechnologie e.V.) of Hanover, Germany, and Qingdao University of Science and Technology, China, at the LANXESS Green Rubber Day in Beijing on December 2, 2011.

It aims to further improve the opportunities for high-performance rubber through international exchanges involving the best talents. Among other things, the initiative promotes academic exchange between China and Germany and research into important rubber-related topics. This agreement sees specialty chemicals company LANXESS continuing its commitment to first-class training to support the sustainable development of one of the most important materials of the future.

⌠For a number of years now, LANXESS and the growth market of China have enjoyed far more than merely a mutually beneficial business relationship, said Prof. Claus Wrana, head of Polymer Analytics at LANXESS' Technical Rubber Products business unit in Leverkusen. ⌠Since 2009, we've been collaborating very closely with Qingdao University of Science and Technology, QUST, which is one of the world leaders in rubber expertise and whose work is on a par with first-class European training facilities such as the DIK.

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(BASF) -- With immediate effect, BASF is increasing its European sales prices for ethanolamines (EOA) as follows: monoethanolamine (MEOA) + 50 EUR/mt, Diethanolamine (DEOA) + 50 EUR/mt. Triethanolamine (TEOA) + 50 EUR/mt or by the existing amount in local currency.
The price increase will also apply to current supply agreements as soon as and to the extent permitted by their terms and conditions.

Ethanolamines are high-class intermediates used in the manufacture of agrochemicals and wood protectants, surfactants for detergents and cleaning products, process chemicals for gas treatment, lubricants and cement additives as well as active pharmaceutical ingredients.

BASF produces EOA at its Verbund sites in Ludwigshafen, Germany; Antwerp, Belgium; and Nanjing, China.

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(Arabian oil and gas) -- Saudi International Petrochemical Company (Sipchem) said that its affiliate, SMSC has acquired Aectra SA, a Swiss petrochemical trading and marketing company. Ahmad Al-Ohali, chairman of Sipchem and SMSC stressed that the acquisition of Aectra was an important milestone for Sipchem: ⌠Aectra SA gives Sipchem immediate access to experienced and proven marketing, logistics and trading expertise in the key European market.

Rene Fresco, Aectra CEO, reiterated that ⌠Aectra SA and Sipchem are a winning combination and confirmed that all members of the Aectra SA team were excited about working with Sipchem to grow the customer base and to provide service excellence to all customers throughout Europe, both big and small.

Aectra SA was established in 1995 and is located in Lutry, Switzerland. Aectra SA has an established network of agents and customers throughout Europe. It enjoys good professional relationships with major producers and its employees have proven experience in European logistics.

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