Dow to increase PE prices across Europe, Middle East and Africa

(plastermart) -- Dow Europe GmbH has announced a price increase for polyethylene (PE) resins across the European, Middle Eastern and African regions.

With effect from September 1, 2012, or as contract terms allow, Dow Europe GmbH will increase prices for all grades of its low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE) and high-density polyethylene (HDPE) resins by 250 Euros per metric tonne.

Dow is an American multinational chemical corporation. Dow is a large producer of plastics, including polystyrene, polyurethane, polyethylene, polypropylene, and synthetic rubber. It is also a major producer of ethylene oxide, various acrylates, surfactants, and cellulose resins.
MRC

MOSCOW (MRC) – MRC analysts have undergone training at ICIS London office, the world's largest petrochemical market information provider. A week’s training was arranged under the joint ICIS-MRC pricing business in Russia, Ukraine, Belarus, Kazakhstan and Uzbekistan.

During the meeting the analysts discussed the methodology of price-formation for polymer industry in Western Europe, Asia and the USA.

"We paid great attention to a daily working schedule of ICIS price-analysts," said Sergey Karaichentsev, editor of PE, PP and PVC price reports, "We also studied the experience of the British colleagues regarding work with contradictory information coming from different counterparties of the market. It turned out that ICIS analysts face the same situation as we do when price information on one producer may differ radically from different sources, i.e. when some market players claim that a producer is raising prices by EUR100/tonne while others say that he is reducing prices by EUR100/tonne, and the maker, in his turn, might announce in his press release that prices remain intact. In such a case, price editors can state quotations in their price reports rather intuitively than relying on players’ contradictory statements."

According to the Director of MRC Sergey Yaremenko, regular training of analysts is necessary to get ready for the expansion of the line of ICIS-MRC price reports: "We will have launched new price reports on polycarbonate, titanium dioxide, caustic, polyamide and polyurethane by the end of the current year. In 2013, ICIS-MRC plans to reach fundamentally new chemical CIS market with their products."

ICIS is the world's leading provider of the operative news and price information in the petrochemical, oil and energy markets. The company has offices in London, Houston, Singapore, New York, Washington, San Francisco, Shanghai and Mumbai.

MRC company, operating in the CIS countries under the brand of Market Report, provides market analytics on polymer market (polyethylene, polypropylene, polystyrene, PVC and PET). MRC has been studying the markets of Russia, Ukraine, Belarus, Kazakhstan, and Uzbekistan, and has been providing information to the industry's largest players.
MRC

(plastemart) -- The largest petrochemical plant in Libya Ras Lanuf, a significant exporter of naphtha from Libya, has restarted its operations.

The plant, that accounts for more than 50% of Libya’s oil processing capacity, was shutdown last year after political revolution in the country.

The Ras Lanuf refinery is a topping and reforming oil refinery in Ras Lanuf, Libya. It is part of a larger petrochemical complex also consisting of an ethylene plant, a polyethylene plant, plant utilities, and Ras Lanuf Harbor.
MRC

MOSCOW (MRC) – September contract prices of ethylene grew by EUR125/tonne, but European makers are going to get a more significant price rise of PE, report MRC analysts.

On Friday, September contract prices of ethylene were agreed in Europe. Monomer for September shipments rose in value by EUR125/tonne from August. However, European makers intend to get a more serious increase in PE prices this month on the back of low margin and tightened supply.

Negotiations on September level of export PE prices for CIS countries have just begun, but European makers are already voicing their bold statements regarding price rise by EUR180-240/tonne. Price-offers for September HDPE shipments are voiced in the range of EUR1,350-1,400/tonne, FCA and those for butene LLDPE are voiced in the range of EUR1,380-1,440/tonne, FCA.

Many companies importing European PE are in a state of shock. Over the past two months PE prices have risen by more than EUR300/tonne, and for some grades the price rise reaches EUR450/tonne. Meantime, buyers of European PE are already in no position to have a major impact on pricing. Series of force majeure at the facilities in Europe, namely, at the production of pipe HDPE, aggravate the situation in the market.
MRC

MOSCOW (ICIS-MRC) -- Tosoh Corp. has not still retun to production of vinyl chloride monomer (VCM) at its No 2 facility with a capacity of 550,000 tpa in Japan since a fire broke out in November last year. Due to shortage of VCM supply by the parent company Tosoh, Tayio Vinyl's PVC units in Yokkaichi with a capacity of 310,000 tpa and in Osaka with a capacity of 150,000 tpa are operating at reduced capacity of 50-60% and 30-40%, respectively, at the moment.

Tosoh is also planning to shut down its 400,000 tpa No 3 VCM unit on September 1 for 40-days' turnaround.

Tosoh is a diversified global chemical company active in inorganic chemicals, petrochemicals and specialty products. It is organised in three groups; Petrochemical, Basic, and Specialty.
MRC