Prices of European PP are mixed for CIS coutnries in March

MOSCOW (MRC) -- The March contract price of propylene was agreed in Europe down by EUR20/tonne from February. However, European producers reduced their export prices only for propylene copolymers to be shipped to the CIS markets in March, according to ICIS-MRC Price report.

Negotiations over March prices of European PP began on Monday. All market participants stated the ambiguity of decisions on export prices for polymer in March, given lower propylene prices in Europe. In fact, prices of propylene homopolymers (homopolymer PP) virtually either rolled over or went up from February, whereas prices dropped by EUR20-25/tonne in the propylene copolymers segment.

Deals for March shipments of homopolymer PP were done in the range of EUR1,060-1,145/tonne FCA, whereas February deals were negotiated in the range of EUR1,030-1,140/tonne FCA. Some producers had limited export quotas for injection moulding homopolymer PP.

Deals for block copolymers of propylene (PP block copolymers) were discussed in the range of EUR1,195-1,250/tonne FCA, down by an average of EUR20-25/tonne from February.
MRC

MOSCOW (MRC) - March contract price of ethylene in Europe was agreed down EUR20/tonne from the February.
Taking this into account European producers have announced a proportional reduction in export prices for low density polyethylene (LDPE) and linear low density polyethylene (LLDPE) for supplies to CIS countries, according to the ICIS-MRC Price Report.

Negotiations on the March supply of polyethylene from Europe to the markets of the CIS countries started last Monday. The decrease in the cost of ethylene in the region led to a decrease in export prices for LDPE and LLDPE for buyers from the CIS, while prices of high density polyethylene (HDPE) were practically rolled over from the level of February. There was no information about restrictions of PE delivery from Europe this month.

Some European producers, on the contrary, have increased March HDPE prices from the February level. Most deals were done in the range of EUR1000-1070/tonne FCA.

Prices for black PE 100 were mostly rolled over from the February level of EUR1270-1330/tonne FCA.

Deals on March shipments of European LDPE last week were agreed in the range of EUR1100-1150/tonne FCA.

European producers decreased the price for hexene linear polyethylene (LLDPE C6) by EUR 20/tonne. Deals were discussed in the range of EUR 1360 - 1420/tonne FCA.

MRC

MOSCOW (MRC) -- Clariant, a world leader in masterbatches and specialty compounds, has announced a price increase globally for its entire range of masterbatch and compound products containing titanium dioxide, polymers, carbon black, pigments, dyes and several additives by 4-7% (depending on the grade, concentration and quality of the titanium dioxide, polymer, carbon black, pigments, dyes and additives), as per the company's press release.

The increase includes white, black, color, additive masterbatches and compounds and relates to the following product brands: REMAFIN, RENOL, CESA, HiFormer & MEVOPUR.

This will be effective for all deliveries from April 1, 2018 or as soon as contracts allow. This price increase is due to the continued rise in prices of titanium dioxide, polymers, carbon black, pigments, dyes and additives driven by several factors including supply-demand dynamics, ongoing capacity reductions in the pigment and dye industry and related increases in feedstock costs of several materials.

As MRC informed before, in H2 2017, Clariant completed a significant expansion at its plant in Lewiston, ME, adding equipment that increases its capacity to compound high-temperature fluoropolymers, which include FEP, ETFE, and PVDF. These materials are important for the production of medical catheters because of their flexibility, lubricity and chemical resistance. Demand for these polymers and for specialized masterbatches, which Clariant markets for medical applications under its MEVOPUR brand, continue to grow worldwide.

Clariant AG is a Swiss chemical company and a world leader in the production of specialty chemicals for the textile, printing, mining and metallurgical industries. It is engaged in processing crude oil products in pigments, plastics and paints. Clariant India has local masterbatch production activities at Rania, Kalol and Nandesari (Gujarat) and Vashere (Maharashtra) sites in India.
MRC

MOSCOW (MRC) -- Sinopec Yangzi Petrochemical Company has restarted a high density polyethylene/linear low density polyethylene (HDPE/LLDPE) swing plant, as per Apic-online.

A Polymerupdate source in China informed that the company has resumed operations at the plant earlier this week. The plant was taken off-line for maintenance on February 24, 2018.

Located at Jiangsu in China, the plant has a production capacity of 200,000 mt/year.

As MRC informed before, in mid-May 2017, Sinopec Yangzi Petrochemical took off-stream its polypropylene (PP) plant for a maintenance turnaround. The duration of the planned shutdown could not be ascertained. Located in Jiangsu province, China, the plant comprising three units have a production capacity of 200,000 mt/year, 100,000 mt/year and 100,000 mt/year.

Sinopec Corp. is one of the largest scale integrated energy and chemical companies with upstream, midstream and downstream operations. Its refining and ethylene capacity ranks No.2 and No.4 globally. The Company has 30,000 sales and distribution networks of oil products and chemical products, its service stations are now ranked third largest in the world.
MRC

MOSCOW (MRC) -- Bayer AG said Wednesday that it is in exclusive talks with BASF SE about the sale of its entire vegetable-seeds business, a move it expects to help it win approval for its acquisition of Monsanto Co., reported MarketWatch.

"Through this and related moves, Bayer is confident of fully addressing all concerns of the European Commission," the company said.

The European antitrust regulator, which has raised concerns that the Monsanto acquisition could pressure farmers, is expected to make its decision on the Monsanto deal by April 5, though it could issue a ruling earlier.

Bayer had already agreed to sell selected crop-science businesses to BASF for 5.9 billion euros (USD7.30 billion) last October. This first deal covers Bayer's global glufosinate-ammonium business and the related LibertyLink technology for herbicide tolerance, essentially all of the company's field-crop seed businesses, and the respective research and development capabilities, it said.

Bayer didn't provide financial details on the potential deal with BASF. It said any sales and licenses would be subject to a successful closing of the proposed Monsanto acquisition, which remains subject to customary closing conditions, including receipt of required regulatory approvals.

Bayer is working with the authorities worldwide to close the transaction in the second quarter.

As MRC wrote before, in September 2017, German drugs and pesticides group Bayer further reduced its holding in Covestro to 31.5% from 40.9% by selling 19 million shares in the plastics business for a total of EUR1.2 billion (USD1.4 billion).

Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech polymer materials. As an innovation company, it sets trends in research-intensive areas. Bayer's products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen.

BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries.
MRC