(chemmonitor) -- Polyethylene (PE) monthly output dropped again this year in Japan according to the production results recently unveiled by Japan Petrochemical Association.
Japan-based PE manufacturer produced around 164,000 tonnes through March, down by 70,000 tonnes or 15.4 percent month on month. Besides, the figure was 77,000 tonnes or 18 percent if compared to March 2010.
The domestic low density PE (LDPE) output fell to the greatest extent.
MRC
MOSCOW (MRC) -- On Wednesday, 25 April, on the back of results of export trades in Belarus and desire of Russian producers to increase May prices, Ukrainian traders temporarily suspended LDPE sales, according to MRC analysts.
Export prices for LDPE in May grew at export trades in Belarus by EUR200/tonne. At the beginning of the month export quotations at trades were fixed for the Ukrainian market within EUR1,150-1,180/tonne, FCA Novopolotsk.
Russian producers also said about necessity to increase export prices for the Ukrainian market following the internal deficit. This week the USD50-100/tonne increase of May prices was discussed in comparison to April level.
Following a serious export price hike in Belarus and announced growth of export prcies for the Russian LDPE, Ukrainian companies temporarily suspended sales. Yet at the beginning of the month Russian and Belarusian 158 LDPE was offered within hryvnya (UAH) 16,300-16,500/tonne, VAT included, СРТ Кiеv.
MOSCOW (MRC) -- This week talks started on contact prices for Russian PVC in May. Russian producers announced the necessity to increase contract prices by rouble (Rb) 1,000-3,000/tonne, as MRC analysts said.
This week the participants of the Russian market started active talks on contract prices for PVC deliveries in May. On the back of a growing seasonal demand for the resin and limited imports, Russian producers intend to get higher prices. At the beginning of the week some producers said about the necessity to increase contract prices by Rb1,000-3,000/tonne compared to April prices (Rb43,000-44,500/tonne, VAT included, СРТ Мoscow).
Demand for finished goods out of PVC in April significantly grew an some local converters lan to reach 100% capacities in May as well as increase PVC purchases by 20-30% compared to April. Despite the growth of demand for finished goods out of PVC, many converters still have problems with circulating funds and the absence of efficient credit resource. Limited circulating funds of converters will play a key role in the price for the Russian PVC in May.
(plastemart) -- Zhejiang Hengyi has signed a land lease agreement with the Brunei Economic Development Board (BEDB) for its Integrated Refinery and Aromatics Cracker Project in Brunei Darussalam.
The China Zhejiang Hengyi (Brunei) PMB Petrochemical Project at Pulau Muara Besar (PMB), Indonesia, is the largest investment project for a privately-owned Chinese company overseas, according to Mr Qui Jian Lin, the Chairman of Zhejiang Hengyi Group.
The project, the largest overseas investment by a privately-owned Chinese firm, is designed to process 15 million tons of crude oil a year and churn out products such as p-xylene and aromatic hydrocarbon.
Zhejiang Hengyi Group Co., Ltd. is a large private corporate group that has a highly integrated industry chain, with the production of purified terephthalic acid (PTA, a commodity chemical used to make polyester), polyester spinning and chemical fiber as its main businesses.
(refinerynews) -- An oil spill in the Russian Arctic affected an area of up to 8,000 square meters after workers tried to open an old well, causing oil to gush uncontrollably for 37 hours, officials said.
The spill at the Trebs field started Friday and continued through the weekend, spurting out up to 500 metric tons of oil a day, the Nenets autonomous district administration said.
The oil well was in the area operated by a joint venture between Russian companies Lukoil Holdings and Bashneft, which received the license to work on the northern Trebs field last year.
The accident was most likely caused by breakage of an old well's corroded plug when workers attempted to operate it, said Viktor Ivkin, head of the Nenetsky autonomous district emergency ministry branch.
Workers managed to stop the fountain of oil Sunday morning, and work was under way to construct a storage facility for the spilled oil, he said.
Icis
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