China increased PVC import by 27% in July

MOSCOW (MRC) -- In July, Chinese traders increased PVC import to 81,400 tonnes, up 27% from June. The year-to-date PVC import to China exceeded 554,000 tonnes, report MRC analysts.

Last month Chinese traders significantly raised PVC imports amid rising seasonal demand and a major price cut. In July, 81,400 tonnes of PVC were supplied to the Chinese market, up 27% from June. Meantime, PVC export from China dropped in July by 19% from June and made about 15,800 tonnes.

North-American makers still occupy the leading position in PVC imports to China. In July, imports from the USA made over 26,400 tonnes, up 56% from June (the year-to-date index makes 182,700 tonnes). PVC import from Taiwan did not rise that significantly (about 6% from June) and made about 28,600 tonnes. PVC imports from South Korea grew more than two and a half times up to 7,500 tonnes.

In general, over the past seven months 554,000 tonnes of PVC were imported to China, down 6% year-on-year. This year only makers from the USA, Taiwan and Malaysia managed to increase PVC supply volumes.

MRC

Cardia Bioplastics to supply compostable bags

(Cardia) -- Cardia Bioplastics has secured a USD500,000 per annum supply contract with a global consumer products company, to provide Cardia Compostable bags as part of its consumer product offering.

The contract win is an important achievement for Cardia and adds another leading global brand to the Company’s customer portfolio. The new consumer product is expected to go to market in November this year. The Cardia Compostable bags will be used in conjunction with one specific product line, to encourage environmentally-friendly waste disposal practices.

The contract opens up significant future growth opportunities for Cardia because the relationship has the potential to expand into other product channels.

Cardia Bioplastics is a global developer, manufacturer and marketer of sustainable resins derived from renewable resources for packaging or plastic product solution. Company's materials are suitable for injection moulding, blow moulding, extrusion, film and coating applications.
MRC

CNCEC to participate in projects of development oil-gas industry of Tatarstan

(tatarstan) -- RT Leadership appreciates the quality and the organization of the work of China National Chemical Engineering Company (CNCEC) at the plant of "Ammonium" and hopes CNCEC will participate in other projects of oil and gas industry of the country. It was stated today by RT President Rustam Minnikhanov in a meeting with the chairman of CNCEC Jin Kening. The meeting was held at the RT House of the Government, and was also attended by the heads of major oil and gas industry enterprises of Tatarstan.

Welcoming the members of the Chinese delegation, Minnikhanov said that he visited the construction site of the plant "Ammonium" in Mendeleevsk district recently.

General Director of "Tatneftekhiminvest holding" Raffinate Yarullin told representatives of China about oil and gas industry projects in Tatarstan. In particular, "TAIF-NK", "TANECO" plan to create a complex of deep processing of heavy oil residues, the new plant of ethylene production with the capacity of 1 million tons per year in "Nizhnekamskneftekhim" is in prosess of construction.

RT President Rustam Minnikhanov assign Tatarstan companies to hold meeting with the delegation of CNCEC for a more detailed discussion of the possible participation of Chinese companies in projects in Tatarstan.

MRC

Romania may scrap Oltchim capital boost before sale

(bloomberg) -- Romania’s Economy Ministry may abandon a planned capital increase in Oltchim SA (OLT), a chemical company, before selling its majority stake.

The ministry, which had planned to boost Oltchim’s capital by as much as 2 billion lei (USD558 million) by converting a debt owed to the state into shares, may scrap the plan after failing to reach agreement with minority shareholders, ZF said.

The authorities will try to sell Oltchim’s debt together with the state’s majority stake, Vulpescu told the newspaper.

Based at Ramnicu Valcea in southern Romania, Oltchim produces caustic soda, petrochemicals, agrochemicals, inorganic products and building materials, including insulating PVC for panels, doors and window frames.

As per MRC, Oltchim at the present does not supply PVC to the Russian market. Insignificant amounts of PVC-S had been delivered from 2005 to 2009 and on average made 1,900 tonnes per year.
MRC

Reichhold to increase prices on unsaturated polyester resins and vinyl ester resins

(plasticker) -- Reichhold recently announced a price increase effective for all orders shipped on or after September 1, 2012 in Europe of 80 EUR/MT on all unsaturated polyester resins and vinyl ester resins.

Alberto Piccinotti, Vice-President Commercial Europe, stated: "The persistent escalation of raw material prices continues to increase our costs, leaving us no choice but to raise our prices. Raw material costs are expected to remain volatile during the balance of 2012 and into 2013 given uncertainties in the global economies. We appreciate the understanding of our customers as we continue doing everything possible to limit the impact of rising costs and limited raw material availability upon product pricing and supply."
MRC