BASF to increase prices for extrusion and fiber polyamides in Europe

(basf) -- BASF will increase prices of its Ultramid extrusion and fiber polyamides in Europe by EUR 150 per metric ton with immediate effect.

The price adjustment is necessary due to the strong increase in raw material costs. BASF continues its efforts to offset rising costs in a difficult environment. However, the extraordinary market conditions force BASF to implement this price increase.

BASF's Ultramid extrusion and fiber polyamides are used for producing films for food packaging and industrial use, for manufacturing monofilaments, for wire jacketing, for carpet and textile fibers.

MRC

(lanxess) -- Specialty chemicals company Lanxess is to increase its prices worldwide for its Baypren branded chloroprene rubbers by up to EUR 160 / USD 210 per metric ton effective March 1, 2012, in response to steeply rising raw material and energy costs, announced the company.

Chloroprene rubber (CR) is suitable as a solid rubber for producing cable sheathing, air spring bellows, hoses and belts and as a latex for the manufacture of adhesives.

The Technical Rubber Products business unit is part of Lanxess' Performance Polymers segment, which recorded sales of EUR 3,782 million in fiscal 2010.

MRC

MOSCOW (MRC) -- In January, the imports of PET to Ukraine increased by 3,600 tonnes and made about 6,000 tonnes which was by 1.5 times more than in December 2011, according to MRC Datascope.

December shipments were a record low for the year, which resulted from the accumulated stock balance in the market. In January, the situation about inventories did not change significantly, but the converters increased purchases to be ready for a coming season.


The structure of supply also changed significantly. JBF Industries (UAE) had suspended the supply of PET over the third month. In 2011, this producer was the second largest importer in Ukraine. The South Korean material was not supplied to the Ukrainian market.

In January, Ukrainian converters turned to the Chinese PET. The volumes of granulate shipments from China rose by 8 times and made about 2,600 tonnes. The price was the main reason for this choice. China was the last Asian country which increased the price of the material. At the end of December the Chinese bottle PET was offered with a discount compared to the South Korean material.


Over the second month, supplies of Gatranova, Pakistani producer, have been increasing. In January, there were supplied about 1,300 tonnes of granulate of Gatranova A-80 grade. As per converters, the main volume of the contracted material will arrive to the market in February-March. In this regard, the volume of the Pakistani products is expected to increase in this period.

In addition, for the first time over the last 5 months, the market was entered by the Russian PET grade Ekopet 80. However, the share of this producer in the total volume of deliveries is quite small. In January, the plant delivered about 60 tonnes of PET. According to traders, it is quite difficult to compete with Asian granulation. First of all, because the Asian price quotations are much more preferable.

mrcpast.com

(yarnsandfibers) -- Pakistani textile manufacturers and exporters should explore markets in Russia and Central Asian Republics with the aim to enhance exports and to raise foreign exchange.

Russia's imports alone are worth about USD70 billion textile products a year and Pakistan's textile exports to Russia are extremely low, at just USD100 million dollars, said Farooq Afzal, a textile exporter and Chairman, Pak-Russia Business Council. Pakistan is one of the few champions of textile exports, but country's share in Russian markets was insignificant.

Besides focusing on markets in Europe and America, the textile producers and exporters should penetrate in Russian market that was spending USD70 billion a year on textile imports, he said. He also pointed out that Kazakhstan, Turkmenistan and Ukraine were also major markets for the exports of textile products.

"I firmly believe that Turkmenistan and Kazakhstan are the future Dubai and Qatar and Pakistani exporters must explore markets in these countries," he said. Farooq Afzal said that the government should disengage the Pakistani economic ministers and commercial counselors from the foreign missions and appoint their local experts having strong connections in their business community.

MRC

mindustry

(firstenercastfinancial) -- Royal Dutch Shell's deal to sell most of its African fuels businesses to oil trading giant Vitol Holding BV and Africa-focused private equity firm Helios Investment Partners is edging closer to full completion, the companies said Wednesday.

The near-USD1 billion transaction, announced early last year, is part of the Anglo-Dutch oil giant's strategic plan to trim those parts of its global portfolio seen as less essential to its future growth prospects.

The second phase of a sales process in which Vitol and Helios each took control of 40% of Shell's fuel and lubricants assets in 14 African countries has now concluded, Vitol said in a statement. The former Shell businesses have since been folded into a new entity, Vivo Energy, which will still produce Shell branded products.

A separate company, Vivo Lubricants, owned 50% by Shell and 50% by Vitol and Helios, will operate Shell's existing lubricants-blending plants in seven countries and market these products across the continent.
MRC