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(Bloomberg) -- IRPC Pcl (IRPC) sold a cargo of heavy naphtha at a premium of USD55 to USD60 a metric ton over benchmark Japan prices, according to two traders with knowledge of the company's tender. The shipment, which was sold earlier this week, contains about 30,000 tons for loading from Rayong, Thailand, in February, the traders said.
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Thai IRPC to sell heavy naphtha at premium of USD55-60 a ton
The first ever Butadiene plant was inaugurated in Indonesian in Cilegon
(The Jakarta Post) -- Industry Minister M.S. Hidayat and Trade Minister Gita Wirjawan inaugurated the first ever Butadiene plant in Indonesian in Cilegon, Banten, on Wednesday. The plant's production capacity is 100,000 tons a year.
The plant is part of publicly listed petrochemicals producer PT Chandra Asri Petrochemical (CAP) and will be managed by the company's subsidiary PT Petrokimia Butadiene Indonesia.
Butadiene is a material for production of synthetic rubber that is usually used to make tires and other automotive components.
CAP has spent USD145 million (Rp 1.34 trillion) to build the plant, which is set to begin operations next year.
Kazanorgsyntez raised the contract price for injection-molding HDPE
MOSCOW (MRC) -- This Friday Kazanorgsyntez plans to resume production of injection-molding HDPE grade PE2НТ22-12.
Along with that the enterprise raised the contract price for polyethylene by Rb1,600/tonne up to Rb59,590/tonne, including VAT, FCA Каzan. The material produced by Gazprom neftekhim Salavat is offered in the spot market on average for Rb63,000/tonne, including VAT, FCA Salavat.
Along with that the enterprise raised the contract price for polyethylene by Rb1,600/tonne up to Rb59,590/tonne, including VAT, FCA Каzan. The material produced by Gazprom neftekhim Salavat is offered in the spot market on average for Rb63,000/tonne, including VAT, FCA Salavat.
In Russia demand for pipe HDPE went down
MOSCOW (MRC) -- The Russian converters still don't hurry to replenish their inventories. At the trades on 17 January, the price for uncolored PE100 produced by Nizhnekamskneftekhim didn't exceed Rb60,900/tonne, including VAT, FCA Nizhnekamsk.
Kazan PE80 was contracted for Rb60,357/tonne, including VAT, FCA Каzan that was only by Rb177/tonne higher than the contract price.
On Thursday trades in the electronic platform will go on, though a further price growth isn't expected because of a low demand for polyethylene pipes.
Mitsui Chemicals and Prime Polymer to boost capacity for PP compounds
(PlasticsToday) -- Mitsui Chemicals, Inc. and its affiliated Prime Polymer Co. (both Tokyo) are to boost capacity for polypropylene compounds in Thailand to meet growing demands of the automotive materials sector in the region. An 18,000 tonnes/year expansion will take capacity from 122,000 tonnes/year to 140,000 tonnes/year. The new capacity should be on stream by the third quarter of 2012. A fully automated high-rise storage facility will also be constructed to accelerate delivery and improve its accuracy.
Although flooding in Thailand in 2011 temporarily affected the auto industry, with total production likely to be down 10% compared with the 1,645,000 vehicles manufactured in 2010, the country is expected to regain momentum as the ASEAN production and export hub for automobiles.
The current compound production augmentation will also cater to surges in demand for polypropylene automotive grades in Indonesia and neighboring countries.
The Mitsui Chemicals Group is targeting further global expansion of polypropylene compounds for automotive applications as a fundamental strategy of the 2011 Mid-Term Business Plan. This will encompass expansion of polypropylene compound production in seven major world markets (Japan, the United States, Mexico, Europe, Thailand, China, and India)