PET imports to Russia slumped by 25% in May

MOSCOW (MRC) -- After an April surge of imports, foreign supply of bottled PET to Russia dropped by 25% and totaled to 14,000 tonnes, report the analysts of MRC.

A weak demand from the bottlers due to a cool spring, and an outlook regarding future fall in PET prices in Asia have led to the reduction of purchases by the domestic traders. Anticipating the future price cut, converters preferred purchasing goods in small lots.

In May the bulk of PET supply were shipped from Korea. The total amount of PET granulate imported from South Korea made 7,160 tonnes, 1,200 tonnes down from April.

The purchases of Chinese granulate have reduced dramatically.

In May Russian traders shipped about 5,600 tonnes of the Chinese polymer, 36% down from April. It’s worth mentioning that the sales of PET of foreign producers have decreased almost twice (by 17,000 tonnes) in Russia year on year.

In 2012 imports of PET has been declining in the domestic consumption. The total imports of the material made 162,000 tonnes over the first five months last year, however, Russian traders purchased only 70,000 tonnes of PET year-on-year. This indicates strengthening of the positions of the local PET producers and an increase of competition among import suppliers.

MRC

Tongsuh plans to undertake maintenance of its plant in Q4

(Fibre2fashion) -- South Korean based - Tongsuh which operates an acrylonitrile (ACN) plant in Ulsan plans to undertake maintenance of its plant in the last quarter of 2012.
Tongsuh operates two ACN lines in Ulsan with a capacity of 70,000 tons per year and 245,000 tons per year, respectively.

A company official told fibre2fashion, that both these lines will undergo turnaround somewhere in the last three months of 2012 and will remain shutdown for a month.

He further added that currently both the lines are operating at 100 percent capacity rates.

When quizzed on the current trends in ACN market, he said, "The market is not so good currently, which is why prices are stable".
MRC

Advanced Petrochemical and Satorp sign propylene supply deal

(Fibre2fashion) -- Advanced Petrochemical Company (Advanced) and Aramco Total Refining and Petrochemical Company (Satorp) signed on a sales agreeent for the supply of 50 thousand metric tons per year of propylene (polymer) from Satorp Refinery (to be built) in Jubail Industrial City (2) to Advanced.

Under this agreement, Satorp will provide Advanced with 50 thousand metric tons of propylene annually for an initial period of three years and it will be renewed on an annual basis. And it is expected to commence supply starting from January 1, 2014 and Satorp will supply propylene by a pipeline from Jubail (2) to Jubail (1).

This agreement will provide additional supplies of propylene to Advanced which will contribute to the increase of production of polypropylene and thereby increase the revenues from the sale of Polypropylene.

Under this Convention, both parties can consider the possibility of supplying additional quantities of propylene for longer periods in the future.
MRC

Brazilian petrochemical company sealed new deal with Tecnaro GmbH

(chemmonitor) -- The Burgweg-headquartered German company Tecnaro GmbH sealed a deal with a Brazilian petrochemical producer headquartered in Sao Paulo, Braskem S.A.

Braskem manufactures biopolymers for green polyethylene (PE) applications production.

Due to the agreement, Brazilian producer will supply Tecnaro with green PE made from sugarcane ethanol for compounds production. Tecnaro's compound can be made by thermoforming, injection molding and extrusion.

The cooperation between the companies is mutually beneficial for both parties.

The companies intend to develop the range of products made from renewable polyethylene or green PE.
MRC

ABS unit to go on stream in S Arabia in Q4, 2014

(chemmonitor) -- Spanish construction and engineering company headquartered in Madrid, Tecnicas Reunidas, SA and the Saudi Arabia-based Arabian Petrochemical Co (Petrokemya) signed a contract.

Due to the contract, which is assessed at SAR 2.1 billion (USD 555 million), the parties are predicted to put up a new facility in S Arabia.It will be an acrylonitrile butadiene styrene (ABS) unit at Jubail site.


ABS's light weight and ability to be injection molded and extruded make it useful in manufacturing products such as drain-waste-vent (DWV) pipe systems, musical instruments (recorders, plastic clarinets, and piano movements), golf club heads (due to its good shock absorbance), automotive trim components, automotive bumper bars, medical devices for blood access, enclosures for electrical and electronic assemblies, protective headgear, whitewater canoes, buffer edging for furniture and joinery panels, luggage and protective carrying cases, small kitchen appliances, and toys, including Lego bricks.
MRC