ABS prices keep on growing in the Russian market

MOSCOW (MRC) -- In early April trading companies increased price offer for ABS, on average, by RUB 2.000 - 3.000/t under the pressure of prices growth in the external markets and stable demand in the Russian market, according to ICIS-MRC Price report.

Natural ABS price in the Asian markets in mid-February reached record USD 2.340 - 2.360/mt, CFR China, while in July 2010 it was within USD 1.800 - 1.820/mt, CFR China. Such a considerable growth of material cost is connected with increased expenses for its production as well as growth of world volumes of ABS consumption.

Asian ABS, contracted during the price peak, came to the Russian market in late March - early April. Increased expenses during materials contracting affected the price of materials. Increase of price offer became possible due to continually high demand for ABS in March from converters. Some market players say about concluded orders till the end of April.

Russian producers of ABS Plastic (Uzlovaya) refrained from raising prices for April deliveries. In March Russian companies couldn't get necessary volumes of materials, as a result there is an insignificant deficit of some positions. According to market players, current market conditions afford to expect raised cost for the Russian ABS in the second half of April minimum by RUB 2.000/t.

mrcplast.сom

(Rhodia) -- Specialty chemical producer Rhodia has completed the acquisition of the engineering plastics business of Indian company PI Industries Ltd (PIIL), after receiving approval of country's authorities.

Rhodia Polymers & Specialties India Private Ltd is the name of the legal entity created to host Rhodia's newly integrated assets, including one industrial facility based in Panoli (Gujarat state), R&D capabilities as well as logistics network in India.

This acquisition is a major step in Rhodia Engineering Plastics growth ambition in India, aiming at doubling its local production capacities to represent 15% of Indian polyamide compound market by 2015.

MRC

(ICIS) -- Polyethylene (PE) producers in northeast Asia may cut their operating rates in the coming weeks if regional PE prices fail to catch up with rising spot ethylene feedstock prices in Asia, industry sources said on Wednesday. The benchmark linear low-density PE (LLDPE) film grade prices were assessed at USD1.380-1.410/tonne (EUR 952-973/tonne) CFR (cost & freight) China and spot ethylene was trading at USD 1.330-1.380/tonne CFR northeast Asia for the week ended 8 April, ICIS data showed.

Resins producers said they were concerned that their margins would be squeezed if the gap between spot PE and ethylene feedstock prices narrowed further, a northeast Asian producer said.

The weekly average spot ethylene price in northeast Asia has risen by USD 40/tonne or 3% since 11 March, while LLDPE film grade prices have dropped by USD 75/tonne or 5% over the same period, according to ICIS data.

Naphtha-based producers in northeast Asia typically have to price PE at a USD150/tonne premium over ethylene, but current regional spot PE and ethylene prices were trading at around the same level, the producer said.

MRC

(ICIS) -- Philippine energy major Petron is investing USD 1.8bn (EUR 1.24bn) at its refinery complex in Limay, Bataan, to beef up its capacity to produce high-margin products, including propylene (C3), a company official said on Wednesday. Petron will upgrade the conversion capabilities of its refinery to yield more liquefied petroleum gas (LPG), gasoline, diesel, and petrochemicals, the official said.

Its current propylene production will be tripled, based on the company's plan unveiled on 6 April. The company runs a 140 KTa propylene recovery unit at its Bataan production site.

The refinery expansion called RMP-2 is expected to be completed by the end of 2014, the Petron official said.

South Korea's Daelim Industrial was tapped to help out in the construction, having received an order for an oil-refining plant projects worth USD 318m from Petron.

The Bataan complex, located 150 kilometres southwest of Manila, houses a 180.000 bbl/day refinery, a Petro Fluidized Catalytic Cracking (PetroFCC) unit that has a conversion capacity of 19.000 bbl/day, as well as an aromatics facility that can produce 150 KTa of benzene, 22.8 KTa of toluene and 220 KTa of mixed xylene.

MRC

(SABIC) -- SABIC Innovative Plastics continues to lead in the plastics industry with the announcement of its latest polycarbonate (PC) sheet technology for stadium roofing. New ultra-stiff Lexan Thermoclear sheet builds on the company's impressive three decades of success in delivering state-of-the-art materials to help stadium architects and designers improve safety, durability and enable design freedom.

Lexan Thermoclear sheet helps contribute to Leadership in Energy and Environmental Design (LEED) certification by providing natural light and possible recycled content. Solar Control infrared (IR) grades reduce build-up of interior heat in arenas while increasing natural light transmission. Another important benefit of Lexan Thermoclear sheet is its light weight, which makes it cost effective to transport and easier to handle and install compared to heavy glass panes. Also, the material can be used with a lighter supporting steel framework than glass requires, which can reduce material and shipping costs.

MRC