DuPont to pay US$3.3 mln penalty to resolve Toxic Substances Control Act violations

(Plastemart) -- The US Environmental Protection Agency (EPA) has announced that DuPont has agreed to pay a penalty of $3.3 mln to resolve 57 Toxic Substances Control Act (TSCA) violations. DuPont failed to immediately notify EPA of research indicating substantial risk found during testing chemicals for possible use as surface protection, masonry protection, water repellants, sealants and paints.

The Toxic Substances Control Act requires companies to inform EPA when they have research demonstrating that a chemical could pose a substantial risk to human health and the environment.

Full compliance with TSCA reporting requirements allows EPA to understand and limit, when necessary, potential hazards associated with manufacturing, use, and disposal of chemical substances.


MRC

(Plastemart) -- Thailand's largest integrated aromatics refinery - PTT Aromatics and Refining Pcl expects higher oil prices and rising paraxylene spreads to push up earnings in 2011, as per Reuters. Paraxylene spreads should be more than US$400/ton in 2011 on increased demand. Q4-10 net profits are expected to be good on likely gains from the company's oil inventory as oil prices continue to rise.

Thanks to higher margins and foreign exchange gains, PTTAR returned to a net profit of 695 million baht in Q3 after a net loss in the quarter ended June- its first loss in five quarters on account of lower petrochemical product margins and crude inventory losses.

The company, 48.6% owned by top Thai energy firm PTT Pcl has refining capacity of 280,000 bpd and annual capacity to produce 2.26 mln tons of aromatics products.

MRC

(ICIS) -- Allegations that US producers of vinyl acetate monomer (VAM) are dumping below-cost material in Europe drew denials on Wednesday from market sourcess.

Celanese, one of the world's largest VAM producers, issued a statement denying any knowledge of dumping in Europe. Other US VAM producers - LyondellBasell, Dow Chemical and DuPont - did not return calls immediately for comment.

US VAM exports declined 8% through October this year, according to trade data compiled by the US International Trade Commission (ITC). But shipments to Belgium - the single largest destination for US VAM exports - increased almost 31% in the same period.

The European Commission did not name any US producers in inquiry notes filed earlier this month stating that it would investigate whether US producers were selling material in the 27-nation bloc below cost.

The complaint was filed by INEOS Oxide, a large European VAM producer, in late October. INEOS is one of the largest VAM producers in Europe, with more than 25% of the market, according to the EU.

MRC

(ICIS) -- South Korea exported strong volumes of naphtha and ethylene (C2) in November, with the bulk shipped to the Chinese market, based on industry data released on Thursday.

Naphtha exports totalled 429,699 tonnes last month, up 39.4% year on year growth, while ethylene shipments grew 12.7% to 52,474 tonnes, according to Korea International Trade Association (KITA) statistics.

China took in 42% of South Korea's naphtha exports and 75% of the ethylene shipments. For aromatics, exports of benzene surged 31.8% year on year to 101,454 tonnes, based on the data.

Volumes of styrene and paraxylene shipments in November were also stronger compared with year-ago levels at 122,749 tonnes and 108,418 tonnes, respectively, according to KITA.

Exports of linear low density polyethylene (LLDPE) defied the declines in shipments of most polymer products during the month, registering a 24.4% growth to 47,217 tonnes, according to KITA.

MRC

(ICIS) -- Firm feedstock costs and a strong US dollar has pushed the European propylene (C3) January monthly contract price (MCP) up 11.5% to a record high, while the ethylene (C2) contract price is the highest seen since the fourth quarter of 2008, market sources said on Friday.

Propylene settled at ┬1,070/tonne ($1,408/tonne), up by ┬110/tonne from December. The previous high was when the contract settled for the third quarter 2008 at ┬1,015/tonne, although in May and June of this year contract prices hit ┬1,000/tonne.

Ethylene was up by ┬105/tonne to ┬1,110/tonne for January, still some way below the record high of ┬1,228/tonne confirmed for the third quarter 2008.

The contracts, which settle on a free delivered (FD) northwest (NWE) basis, were first agreed late on 22 December by a major producer and a major integrated consumer. Remaining contract buyers and sellers were quick to follow.

Olefins producers were able to secure three-digit increases on both C2 and C3 because of negative pressure on cracker margins and a tighter-than-expected supply and demand balance.

MRC