Croatian bourse drops Dioki from CROBEX stock index

MOSCOW (MRC) -- The operator of the Croatian bourse said on Wednesday it has revised its CROBEX blue-chip stock index, dropping polymer and petrochemicals producer Dioki, said Seenews.

The extraordinary revision was due to the fact that Dioki announced on Wednesday bankruptcy proceedings are being launched against the company, the bourse operator said in a statement. The calculation of the revised CROBEX will be implemented after the close of trading on Wednesday.

Dioki creditors at a hearing in October 2013 did not endorse a financial restructuring plan for this petrochemical company. Creditors which claim 52.88% of Dioki's debt voted against the restructuring plan, while those claiming 41.22% were in favour. The hearing was attended by creditors whose claims from Dioki amount to HRK 905.4 million.

DIOKI d.d. was founded on 17 July 1995 as a merger of INA-OKI d.d. of Zagreb, DINA d.d. of Omisalj and INA-Naftaplin's Ethylene Production Unit of Zagreb. The company's basic activity is the production of polymers and petrochemicals: low density polyethylene, general purpose polystyrene, high impact polystyrene, expandable polystyrene, ethylene.
MRC

MOSCOW (MRC) - The third largest Russian producer of low density polyethylene (LDPE) Ufaorgsintez (Bashneft Group) announced a reduction in contract prices by Rb250-500/tonne, effective from 1 December, according to ICIS-MRC Price Report.

The contract prices of 108 and 158 LDPE were reduced by Rb250/tonne and Rb500/tonne, respectively. Price for polyethylene for shrinkable films - 153 PE was cut by Rb450/tonne.

Ufaorgsintez OAO manufactures organic synthesis products in Russia and Europe. Its products include ethylene, propylene, ethanol, cumol, ethyl benzol, phenol, acetone, copolymer rubber, polyolefines, poly vinyl chloride and polyethylene items, thinners, and dilutants. The company exports its products to Belorus, Kazakhstan, Finland, Germany, France, and Brazil. Ufaorgsintez OAO was founded in 1956 and is based in Ufa, Russia.

The PE production capacity of the plant is about 90,000 tonnes/year. Total PE production of the producer was 75,600 tonnes in the first ten months of this year.

MRC

MOSCOW (MRC) -- Imports of polyethylene terephthalate (PET) into Kazakhstan in January-October 2013 increased by 5% year on year, according to ICIS-MRC Price report.

The overall PET imports totalled 46,500 tonnes in the first ten months of the year.

Chinese material accounted for 75% of the total consumption of PET chips. The overall PET imports from China to Kazakhstan almost reached 35,000 tonnes in January-October, 2013.

Imports of Korean PET amounted to more than 11,000 tonnes in January-October.

The overall PET imports to Kazakhstan totalled 52,700 tonnes in 2012. Converters and bottlers' needs are fully met by imports, because Kazakhstan has no domestic production of PET chips.

MRC

MOSCOW (MRC) -- Production of expandable polystyrene (EPS) in Russia in January-October 2013 increased by 35% year on year and totalled 95,500 tonnes, according to MRC ScanPlast.

SIBUR-Khimprom and Angarsk Polymer Plant raised their capacity utilisation by 47% and 6%, respectively, this year, whereas Plastik (Uzlovaya) reduced its output by 10%.

SIBUR-Khimprom is the largest EPS producer in Russia. The plant has accounted for nearly 82% of the total EPS production in Russia since early 2013.

October EPS production in Russia grew by 2,200 tonnes from September and reached 10,400 tonnes. This figure was achieved by increased capacity utilisation at all three Russian plants.
The increased production of Russian EPS resulted in displacement of imported EPS from the domestic market. Thus, EPS imports into Russia dropped by 17% in January-October 2013 to about 60,000 tonnes.

MRC