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(polyestertime) -- Octal Petrochemicals has installed the world's largest reactors of melt-to resin technology (MTR) for the production of highperformance PET as the fourth and fifth manufacturing facilities remain firmly on track for completion in May 2012. To date, one million manhours have been completed without a single lost-time-injury (LTI) that reflects Octal's strong commitment to safety standards.
The expansion will add an additional 527,000 tonne a year of PET bottle grade resin to Octal's current production capacity of 400,000 tonne per annum, making it the largest producer in the world on one site. The highly energy-efficient reactors have proven successful for the production of high viscous melts, enabling Octal to set the global benchmark for superior product quality and sustainability through the application of the most advanced technology available.
The PET resin and sheets produced are acclaimed by international experts to have the lowest carbon footprint, paving the way for others in the industry to follow the company's pioneering footsteps.
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Octal sets up the world's largest reactor for PET production
Chinese textile industry to face crisis
(chinadaily) -- The Chinese textile industry is facing crisis as current typical profit margin in the sector is lower than the cost of finance. During 2011, more than 30 percent of textile and clothing firms in Jiangsu and Zhejiang are reported to have gone out of business.
Rising labour costs are cited most frequently as a cause of the industry's difficulties. Low technology, labour-intensive processes have increasingly been transferred to cheaper production sources in South East Asia, such as Cambodia and Vietnam, or to eastern European countries, such as Bulgaria and Poland.
Industry sources also comment that the corporate tax burden is excessive. The difference between sales tax on processed goods (17 percent) and the purchase tax payable on cotton (13 percent) cannot be recouped, for instance.
However, industry participants appear rather gloomy about prospects for the next several months, owing,
in particular, to a poor outlook for demand from the euro-zone countries. The call for tax concessions
appears thus to be increasing.
MRC
Rising labour costs are cited most frequently as a cause of the industry's difficulties. Low technology, labour-intensive processes have increasingly been transferred to cheaper production sources in South East Asia, such as Cambodia and Vietnam, or to eastern European countries, such as Bulgaria and Poland.
Industry sources also comment that the corporate tax burden is excessive. The difference between sales tax on processed goods (17 percent) and the purchase tax payable on cotton (13 percent) cannot be recouped, for instance.
However, industry participants appear rather gloomy about prospects for the next several months, owing,
in particular, to a poor outlook for demand from the euro-zone countries. The call for tax concessions
appears thus to be increasing.
MRC
Uralkali unveiled Q1 production performance results
(chemmonitor) -- Uralkali, a Russia-headquartered company, has recently disclosed results of its production performance from January 2012 through March 2012. The announcement concerned the making of potassium chloride.
The company itself produced around 2 million tones tonnes, while the output of Silvinit's assets reached 0.7 million tonnes.
The firm generated 1.2 million tonnes of the product in Q1 of the previous year.
Poland's plastics industry eyes growth
(polyestertime) -- Despite 2011 being a year of steep increases in raw material prices in Poland, plastics industry representatives say the local market will continue to grow in 2012, as several plastics manufacturers plan on expanding the capacities of their production facilities in the country.
Walter T. Kuskowski, chief executive of plastic packaging and car accessories manufacturer Suwary, said material costs in 2011 were the highest in five years. Moreover, the weakening zloty meant a sharp decrease in profit margins last year, he said. However, the market still managed to grow, despite price pressures
The plastics industry is helped by an optimistic economic future in Poland, as hopes for further growth in 2012 are high. Credit Suisse expects gross domestic product (GDP) to grow by 3% in 2012 and a further 3.5% in 2013. In the fourth quarter of 2011, Poland posted GDP growth of 4.3% over the same period a year earlier, as shown by figures from the country's Central Statistical Office.
MRC
Walter T. Kuskowski, chief executive of plastic packaging and car accessories manufacturer Suwary, said material costs in 2011 were the highest in five years. Moreover, the weakening zloty meant a sharp decrease in profit margins last year, he said. However, the market still managed to grow, despite price pressures
The plastics industry is helped by an optimistic economic future in Poland, as hopes for further growth in 2012 are high. Credit Suisse expects gross domestic product (GDP) to grow by 3% in 2012 and a further 3.5% in 2013. In the fourth quarter of 2011, Poland posted GDP growth of 4.3% over the same period a year earlier, as shown by figures from the country's Central Statistical Office.
MRC
Polymers in Asia fall in price
MOSCOW (ICIS - MRC) - Despite the ongoing growth of feedstock, the prices of large volume polymers in Asia last week did not change. The prices in the market of polyethylene, polystyrene and PET even slightly declined, according to MRC analysts.
Due to the weak demand price quotations of polyethylene in Asia did not change, despite a further rise in the price of ethylene. Buying interest in imported materials is very low due to the sufficient supply and lower prices from domestic producers. There were offers for re-export of LDPE and LLDPE from China. The prices of these grades of polyethylene last week declined on average by USD20-30/tonne. LDPE and LLDPE were offered on average for USD1,430/tonne, CFR, and USD1,390/tonne, CFR, respectively.
Prices of polypropylene last week in Asia did not change. The demand for imported material from Chinese companies is still low because of the sufficient supply and lower prices in the domestic market. Amid the weak demand in China there were the offers of polypropylene re-export. The prices stayed at USD 1,500/tonne, CFR.
The prices of PVC in the Asian market last week did not change due to low buying activity and national holidays. Price quotations were still in the range of USD1,040-1,070/tonne, CFR. Most market participants suspended their purchases in anticipation of prices for May shipment, which should be announced this week.
The price of the Asian polystyrene decreased resulting from a weak demand for the material. The activity in the market over the last week reduced due to the celebration of the traditional Qingming festival in Northeast Asia. The low demand for polystyrene from European and U.S. consumers make producers lower price quotation. On the back of the decrease in price quotations of polystyrene Asian companies do not hurry to increase the purchases of the material. The prices of general purpose polystyrene decreased to USD1,580-1,620/tonne CFR China, and high-impact polystyrene was at USD1,800-1,830/tonne CFR China.
He prices of bottle PET in Asia continue to decline. Chinese and Korean producers reduced the prices by USD5-10/tonne. Deals were settled at USD1,505-1,530/tonne FOB. Market players reported that the buying activity was weak. Many producers said that shipments were limited and did not exceed 100-300 tonnes. Many producers held back from contracting large volumes waiting for PET prices to slide down further.