Chemical stock prices plunged as unrest continued in Libya

(ICIS) -- Chemical stock prices plunged on Tuesday, closing much lower for several North American companies as unrest continued in Libya.


Dow Chemical closed at $37.16/share, down 3.6%, and DuPont closed at $54.38/share, down 2.9%. LyondellBasell closed at $35.84/share, down 5.6% from Friday. US markets were closed on Monday for a holiday.


Spot ethylene offers were heard at 51.00 cents/lb, up from offers at 49.50 cents/lb. Refinery-grade propylene (RGP) was bid at 59.00 cents/lb with no offers. Last week, RGP traded at 62.00-65.00 cents/lb.


In Libya, leader Muammar Qaddafi vowed to continue fighting instead of stepping down, according to the Financial Times.


MRC

Styrene butadiene rubber prices may rise above $4,000/tonne in March

(ICIS) -- Styrene butadiene rubber (SBR) prices may rise above $4,000/tonne (┬2,920/tonne) in March - a record high - in southeast Asia and India if demand continues to exceed supply, SBR producers said on Wednesday.


March spot offers for non-oil grade 1502 SBR have increased to $4,000-4,050/tonne CFR (cost & freight) in southeast Asia and India following trade done at $3,900/tonne CFR in these countries. (please see graph below)


The highest record for non-oil grade 1502 was in July 2008 when prices hit $3,300/tonne CIF (cost, insurance & freight) in China, ICIS data showed.


Natural rubber (NR) and synthetic rubber are used in the production of tyres for the automotive industry and their prices tend to impact and move in tandem with each other, SBR producers said.


MRC

Clariant's Masterbatches Business increases prices

(Clariant) -- The Masterbatches Business Unit of Clariant, a leading masterbatches player globally, announces global price increases for most of its products.


The price adjustments are necessary to compensate for rising oil prices and significant cost increases for all masterbatch- relevant raw materials.


"We have absorbed significant cost increases through production optimization and other efficiency-increasing measures, but we have now reached the limit of what we can do with these tools. In order to finance future investments and improvements to our supply chain we have no alternative but to increase prices," comments Hans Bohnen, Head of Clariant`s Masterbatch Business Unit.


The price increases will become effective immediately or as contracts allow. Clariant customers will be contacted individually regarding the specifics of the price increase as they apply to their products and regions.


MRC

SABIC extending its polymer portfolio for healthcare applications

(SABIC) -- SABIC, a global plastics industry leader, is extending its polymer portfolio for healthcare applications with the launch of two high-purity polypropylene (PP) random copolymers. Both new PP grades were developed specifically for healthcare applications, underscoring SABIC's strong commitment to the industry. SABIC will showcase the two new grades, one for a wide range of blow moulding applications, the other for injection moulded parts, at Pharmapack 2011 in Paris on February 23 and 24 (stand 176/178).


Extrusion-blow moulding grade SABIC PP PCGR02 exhibits good contact transparency, outstanding impact strength and excellent processability. Key target applications include bottles and ampoules. The second new resin, SABIC PP PCGR25, features the high clarity and good antistatic properties necessary for injection moulded housings of disposable syringes. It may also be used for other parts that benefit from its excellent optical properties as well as its broad processing window.


MRC

Iran started building of a new petchem complex

(Tehran Times ) -- The Marjan Petrochemical Complex is being constructed in Pars Special Economic Energy Zone (Assalouyeh), the Mehr News Agency reported. The unit has the capacity to produce 1,650,000 tons of methanol and is estimated to come on stream by 2015 (the end of the Fifth Five-Year Development Plan) at the cost of 342 million euros and 2.12 trillion rials (some $212 million).


Iran exported $8.7 billion worth of petrochemical products in the first ten months of the Iranian calendar year (ended January 20, 2011), which shows a 61 percent increase in value compared to the same period the year before.


Iran currently produces 25.8 percent of petrochemical products of the Middle East and 2.4 percent of the global output. The country plans to produce 44 million tons of petrochemicals by the end of the current year.


MRC