Asia PVC producers hike prices

(ICIS) -- Japanese and South Korean polyvinyl chloride (PVC) producers will likely follow the lead of their Thai and Taiwanese counterparts in hiking December prices amid strong demand and restricted supply of the material, industry sources said on Friday.

The northeast Asian producers were expected to announce their prices next week, sources said. PVC spot prices in Asia were nearing eight-month high at $1,010/tonne CFR (cost and freight) China on 12 November, according to ICIS data.

Formosa Plastics, a major PVC producer in Taiwan, took the initiative to implement a $30/tonne (┬22/tonne) price hike last week, raising December prices to $1,040/tonne CFR (cost and freight), said a company source.

Thai Plastics and Chemicals (TPC) seconded the move this week, nudging up its December offers into China by $20/tonne from November to $1,040/tonne CFR, said a company source.

Demand from the construction sector has been steadily improving in China in recent weeks, especially for ethylene-based PVC, causing prices to jump $20-30/tonne in the week ending 12 November, according to ICIS. PVC is a key product used in construction materials like pipes.

MRC

(abc.az.) -- The State Oil Company of Azerbaijan (SOCAR) is preparing to raise production of the most liquid chemical products at its chemical sub-company Azerikimya. Azerikimya's chief engineer Firudin Mustafayev informs that they plan to build a new plant to produce 200,000 tons of polypropylene a year.

"The program is realized by two stages. First, manufacture of polyethylene will be increased up to 350,000 per year, including 120,000 tons of polypropylene. Then, due to the new plant, production of polyethylene will grow by 150,000 tons and polypropylene by 200,000 tons, Mustafayev said.

At that, 95% of output is designed for export, and 90% of raw materials is produced in the country itself.

MRC

(Plastics News) -- Tredegar Corp. announced Nov. 17 that it has opened a film manufacturing plant near Pune, India. The plant, part of the Richmond-based company's Tredegar Film Products subsidiary, will start off by specializing in films for the hygiene market.

Nancy Taylor, Tredegar's president and CEO, said in a news release that the plant opening in India is ⌠integral to the company's plans to expand in emerging markets.

Tredegar ranked 17th in Plastics News' most recent survey of North American film and sheet manufacturers, with $455 million in relevant sales.

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(PRW) -- Bulgaria is the latest country to take a stand against the proliferation of retail packaging waste with a plan to impose an eco-tax on plastic bags. The country's environment ministry is drawing up legislation to make the carrier bags more expensive in order to restrict their use and gradually eliminate them from the market, reported Bulgaria's Novinite online news agency.

Environment Minister Nona Karadzhova has finally reached agreement to the move with the Bulgarian Polymers Association (BAP) and several large retail chain stores. Initially, the BAP and suppliers opposed the measure, claiming it would encourage the ⌠shady import of plastic bags.

However, a ministry online poll revealed that a big majority of Bulgarians favour the replacement of the plastic bags in stores with another, more environmentally friendly alternative, said Novinite.

In 2006, Bulgaria recycled just 30% of all its packaging waste although it has a target of between 55 - 80% by the year 2014.

MRC

(Plastics News) -- Florida Production Engineering Inc. will invest $2.8 million to expand into North Carolina, buying some of the assets of the former Moll Industries Inc. injection molding plant in Asheboro.

The new FPE Asheboro plant will focus on injection molding, design and development of the company's industrial products and will take advantage of the facility's existing clean room production capabilities.

The plant was among the last operations for Dallas-based Moll, which was forced into bankruptcy in April.

MRC