India to remove excise duty on recycled polyester fiber

(polyestertime) -- The government of India is planning to remove excise duty on recycled polyester fiber soon to provide some relief to the manufacturer of Recycled polyester staple fiber (PSF).

The exemption would be granted only if PSF was recycled from plastic waste, and not plastic. In the Union Budget 2012-13, it is declared that the excise duty rate on recycled PSF be pegged at 10 percent, in line with other textile fibers such as polyester fiber and yarns and its raw material, purified terephthelic acid and mono ethylene glycol. In fact, the Budget preferred to make the said modification with retrospective effect from June 29, 2010.

According to the proposal, duty in respect of clearances already made to be recovered from the manufacturers of these goods within a month of the date of enactment of the Finance Bill, 2012, or else it would draw an interest penalty of 24 percent. At the same time, the manufacturers are being permitted to take into account credit of duty
paid on inputs, input services and capital goods.
MRC

ЛОНДОН (ICIS) -- В Европе контрактные цены окиси этилена в мае снизились на EUR16/т (USD21/т) на фоне снижения контрактной цены этилена в мае на EUR20/т. В мае контрактные цены окиси этилена составили EUR1,402-1,569/т, FD NWE и EUR1,442-1,599/т, FD MED. Этилен является основным сырьем для окиси этилена, и формульная цена окиси этилена обычно составляет 80-85% от цены этилена. Свободно заключаемые контракты на окись этилена составляют лишь небольшой процент от европейского рынка.

Предложение окиси этилена на рынке достаточное, несмотря на недавние остановки производств на профилактиктический ремонт. Во втором квартале, как правило, спрос на окись этилена ниже, чем в первом. В этом году объемы производства были сокращены по сравнению с объемами прошлых лет.
Пик сезона для производства агрохимикатов закончился, а производственные показатели в строительном секторе оставляют желать лучшего.

Относительно высокий спрос на окись этилена в секторе поверхностно-активных веществ в последние месяцы позволил компенсировать снижение продаж. Хотя один из покупателей отметил, что низкие показатели в автомобильной промышленности также вносят свой вклад в понижательный тренд на рынке.


Перевод и редакция новости: Маркет Репорт.

MRC

(sibur) -- SIBUR is beginning temporary imports of basic grades of polypropylene to reduce the existing deficit in the Russian market. The pilot shipment will amount to 500 tonnes, with subsequent increases in imports up to 2 thousand tonnes per month.

The deficit in the Russian polypropylene market arose due to a forced shutdown of several plants unaffiliated with SIBUR (Stavrolen in Stavropol Krai and the Lisichanskiy refinery in Ukraine), which coincided with the seasonal increase in demand from polypropylene refiners.

The imported volumes will be sold at market prices with a minimal commission from SIBUR. The polypropylene will be purchased from China, India, and the Middle East.

In 2011, Tomskneftekhim produced 128.8 thousand tonnes of polypropylene, while SPE Neftekhimiya, the joint venture between SIBUR and Gazprom neft, produced 114.4 thousand tonnes. The combined capacity of the two facilities grew in 2011 to 243.2 thousand tonnes, an increase of more than 11% from 2010.
Tobolsk-Polymer will be Europe's largest complex for the production of polypropylene, with a capacity of 500 thousand tonnes per year. Construction on the site is expected to finish in the third quarter of 2012, with production due to start in early 2013.

MRC

(Reuters) -- As the cost of crude oil and its derivatives hurts profits, Braskem is looking to switch feedstock at its U.S. polypropylene plants from shale gas.

Chief Executive Carlos Fadigas said that the Brazilian petrochemicals company is currently weighing a decision on whether to build its own plant processing propane from natural gas or form a joint venture with a guarantee to buy the project's output.

The decision should be made this year.

MRC

(plasticsinfomart) -- Plastics exports to Cambodia earned USD20 million in the first quarter of this year, reported the Viet Nam Plastic Association.

In March alone, export turnover reached USD 8 million, with plastic bags accounting for about 40 per cent of the value, the association said, noting that Vietnamese companies faced few challenges when exporting this product to Cambodia due to a lack of strict regulations in the neighbouring nation.

Packaging materials accounted for another 17.6 per cent of the total export value during the period.
Exports of plastic construction materials to Cambodia were also expected to recover this year as the building industry recovered.

The association warned, however, that Vietnamese plastics weren't competitive with those from other countries, and it suggested the industry aim to improve technology and cut costs.

Cambodia is now one of the biggest markets for Vietnamese plastics, following Japan, the US, Germany and Thailand.

MRC