Braskem-Idesa to take important steps for the development of Ethylene XXI project

(Plastemart) -- Braskem-Idesa, the joint venture between the Brazilian Braskem and Mexican Group Idesa has taken another important step for the development of its Ethylene XXI project in Mexico. The JV has chosen Technip as technology provider for the development of its 1.05 KTa ethylene cracker based on ethane. This is part of the petrochemical complex to be built in Coatzacoalcos/Nanchital region, in the Mexican state of Veracruz, which is planned to be ready for start-up by the end of 2014. The complex will also include one low density polyethylene and two high density polyethylene plants.

Braskem-Idesa has also selected Technip as contractor for the front-end engineering design (FEED) of the cracker and high density polyethylene plants. Technip is the largest contractor with remarkable experience on implementing mega-crackers for ethylene production with EPC approach.

MRC

(Plastemart) -- Hanwha Chemical Corp. is considering building a polysilicon plant in South Korea as it pursues a goal of more than doubling sales. Constructing the plant in South Korea may make it easier to operate and staff and open new customer bases, hence it is unlikely that the plant will be located (as reported) in USA or Canada to gain from lower power costs.

Orders for solar-power equipment are estimated to rise as governments take steps to cut carbon emissions blamed for global warming. Hanwha acquired almost half of Solarfun Power Holdings Co., a Chinese maker of solar components, in 2010.

MRC

MOSCOW (MRC) -- Russian producers expectedly raised the prices for PVC in April by RUB 1.000 - 2.000/t, spot market hasn't completely reacted to considerable growth of prices for resin in USA, according to ICIS-MRC Price report.

Because of scheduled shutdowns of two enterprises in Volgograd and Sajansk, PVC contract deliveries for April have considerably decreased. For many contract clients reduction in deliveries volumes from Russian producers aren't critical. Weak demand for finished goods made of PVC allowed to make efficient material stocks. Also some companies contracted PVC from North America which will allow them to compensate the lack of the Russian resin in April-May.

In spot market the transient process is observed. Export prices for North American resin for April have grown more than by USD 100/mt compared to March level of prices. In the Russian market not all companies have transferred growth of export prices to domestic quotations. Price offer for North American PVC was within RUB 47.000 - 49.000/t, including VAT, СРТ Moscow. Soon prices correction will go on and it will approach contract prices of Russian producers.

Spot market has split into two parts. Converters who realize inevitability of serious growth of resin prices tried to purchase PVC for future. Other companies don't hurry to make additional purchases because of available stocks of resin, despite forecasted growth of prices.

MRC

MOSCOW (MRC) -- Prices for PET beat new records that is caused by feedstock deficit in the Russian market and growing prices in Asia, according to MRC analysts. Now the prices for PET granulate from main Russian producers are within the range RUB 75.5 - 77 thous. At the end of last week Asian PET was traded within the range USD 1.880 - 1.920/mt, FOB. From the year start PET prices n the domestic market have grown by RUB 12 thous.

Dollar rate against rouble has a lowering tendency in Russia that may neutralize growing prices in Asia. The tendency in the currency market may change in April since now dollar against rouble is at its minimum since last year.

Many market players now refuse from Asian PET, despite a higher level of prices from Russian producers. The main reason for that is high risks of long-term logistics.

MRC

(ICIS) -- Asian phenol prices are likely to trend higher in the coming weeks, bolstered by rare spot purchases by quake-ravaged Japan and regional plant maintenance, as well as firm downstream demand, market players said on Friday. Stubbornly high feedstock prices, both propylene and benzene alike, also led to rising prices, they added.

In the week ended 25 March, phenol prices were assessed as USD1.920-1.950/tonne (EUR 1.344-1.365/tonne) cost and freight (CFR) China Main Port versus USD 1.810-1.840/tonne CFR CMP a month ago, according to ICIS data.

Compounding the situation, the trade flow has reversed with Japan switching to a spot phenol buyer from a net exporter. No spot shipments were seen from Japan after the devastating earthquake last month, traders said.

Japan has made an unusual spot purchase of 10 KT of phenol from China, Taiwan and South Korea for delivery in April, amid production turmoil in the aftermath of the 11 March disaster.

Japan is expected to continue buying phenol on the spot market from April to June, a move that would fuel prices further.

MRC