Dow polyethylene resin for rotational molding

(Plastemart) -- Dow has introduced an experimental polyethylene resin for rotational molding that offers significant performance advantages over incumbent materials when used in the production of large storage tanks.

Laboratory and large scale production evaluations of the resin have demonstrated that, compared to reference materials, the new resin offers improved sintering (densification), hereby allowing shorter oven times, a homogeneous and fine molding microstructure.

For rotational molders needing to produce storage tanks the performance attributes of this Experimental Polyethylene Resin translate to reduced energy costs, reduced cycle times and finished products with higher impact strength due to a broader processing window.

This developmental resin has the potential to open up new marketing opportunities and reduce operational cost savings for rotational molders focused on large storage tanks, said Karin Katzer,
Dow's market manager.

MRC

(ICIS) -- INEOS's 200,000 tonne/year low density PE (LDPE) plant at Cologne in Germany is offline unexpectedly for an anticipated two weeks, a company source said on Friday. It was not clear when the plant failed.

This latest outage, coming after strikes in France which affected LDPE output, was exacerbating the tight supply position of LDPE in Europe.

Producers were targeting higher prices, but margins were already strong for LDPE manufacturers and buyers resisted paying increases, in spite of the ┬28/tonne ($40/tonne) hike on the November ethylene monomer contract price.

Monthly pricing discussions were not expected to settle until later in November.

The delta between LDPE and linear low density PE (LLDPE) prices was widening from the ┬50/tonne that had been traditional for many months, to ┬150/tonne in some cases, according to several market sources.

The new delta was caused as much by a weakening of LLDPE prices, affected by imported volumes, as the strength of the LDPE market.

MRC

(ICIS) -- US polyethylene (PE) contract initiatives for a 4 cent/lb hike in November and a 5 cent/lb increase in December have gained momentum after a supply-driven surge in the feedstock ethylene spot market, buyers said on Thursday.

Producers sought a 4 cent/lb ($88/tonne, ┬62/tonne) increase in October and have announced another 5 cent/lb increase for 1 December. Other buyers echoed the sentiment that the 4 cent/lb increase was a ⌠done deal for November contract pricing.

With spot ethylene prices rising fast, buyers expressed growing concern that the 5 cent/lb December initiative could also hold.

US domestic prices for linear-low-density PE (LLDPE) butene film were 64-67 cents/lb DEL (delivered) as assessed by ICIS.

Major North American PE producers include Chevron Phillips Chemical, LyondellBasell, Dow Chemical, ExxonMobil, Westlake, INEOS, Total, NOVA Chemicals and Formosa.

MRC

(ICIS) -- US polyethylene (PE) contract initiatives for a 4 cent/lb hike in November and a 5 cent/lb increase in December have gained momentum after a supply-driven surge in the feedstock ethylene spot market, buyers said on Thursday.

Producers sought a 4 cent/lb ($88/tonne, ┬62/tonne) increase in October and have announced another 5 cent/lb increase for 1 December. Other buyers echoed the sentiment that the 4 cent/lb increase was a ⌠done deal for November contract pricing.

With spot ethylene prices rising fast, buyers expressed growing concern that the 5 cent/lb December initiative could also hold.

US domestic prices for linear-low-density PE (LLDPE) butene film were 64-67 cents/lb DEL (delivered) as assessed by ICIS.

Major North American PE producers include Chevron Phillips Chemical, LyondellBasell, Dow Chemical, ExxonMobil, Westlake, INEOS, Total, NOVA Chemicals and Formosa.

MRC

(ICIS)--The Canadian government rejected BHP Billiton's $39bn (┬28bn) hostile foreign takeover bid for PotashCorp, Industry Minister Tony Clement said on Wednesday. Clement said the offer did not present a likely net benefit to Canada, adding that he had notified BHP of the decision.

The proposal was terminated under the Investment Canada Act, marking only the second time in the 25-year history of the law that a bid was blocked.
Following the announcement, PotashCorp's stock dropped $7.98, or 5.5%, to $137.52/share in after-hours electronic trading on the New York Stock Exchange.

The deal had been opposed by Saskatchewan Premier Brad Wall, who said approval of the deal would be ⌠a profound betrayal of our province and its people and did not rule out a constitutional challenge based on provincial ownership of resources. The legislature in Saskatchewan, where PotashCorp is based, had unanimously called on the government in Ottawa to reject BHP's bid.

Saskatchewan's lawmakers were of the opinion that a BHP takeover posed a potential risk to jobs, provincial revenue and Canada's strategic interest, according to news media reports.

If approved, BHP was said to preparing to sweeten its $130/share offer to win shareholder approval, with some analysts estimating a successful offer would have to top $155/share.

MRC