Mogilevkhimvolokno left export PET prices steady

MOSCOW (MRC) - Mogilevkhimvolokno, the only Belarusian producer of polyethylene terephthalate (PET), has left export prices for delivery steady, according to ICIS-MRC Price Report.

The producer resumed production of bottle grade PET chips in January. The company has kept February export price for at the rollover from January because of the seasonally weak demand.

Price offer for Ukrainian market remained in the range EUR1,140-1,150/tonne FCA Mogilev, excluding VAT.
Open Joint Stock Company "Mogilevkhimvolokno" is the only Belarus producer of dimethyl terephthalate, polyether PET chips, including food grade, polyether fibres.

MRC

MOSCOW (MRC) -- Equipolymers is in plans to shut a polyethylene terephthalate (PET) line owing to technical issues, reported Apic-online.

A Polymerupdate source in Germany informed that the plant is likely to be shut in mid-February 2014. It is planned to remain off-stream for around 10 days.

Located in Schkopau, Germany, the line has a production capacity of 175,000 mt/year.

As MRC wrote previously, a Turkish petrochemicals group, Polisan Holding restarted the former PET polymer plant of Spanish group La Seda de Barcelona in Volos, Greece, in late December 2013.

The 80,000 tpa Artenius Hellas facility, which was mothballed by the insolvent Barcelona-based group last year, was bought in September by Polisan of Ankara for EUR8.6 mln. The Greek plant, which employed almost 100, has been renamed Polisan Hellas.
MRC

Moscow (MRC) - The sharp increase in the dollar rate led to a significant rise in prices of polyethylene (PE) in Ukraine on Wednesday, 5 February. Some trading companies amid volatility of exchange rate have suspended their sales, according to ICIS-MRC Price Report.

Ukrainian polymer market is dependant on import supplies, which makes it vulnerable to the exchange rate fluctuations. Exchange rate of hryvnya against dollar jumped to 9,05-9,40UAH =1USD on 5 February, that at least up 10% from the beginning of January. Such a sharp rise in rates led to a proportional increase in the price of polyethylene, some traders even had to suspend their sales.

Deals for Belarusian and Russian low density polyethylene (LDPE) in the local market were heard on 3 February in the range of UAH16,800-17,200/tonne CPR Kiev, including VAT. But on 5 February, price offers for LDPE grew to UAH17,500-18,000/tonne CPT Moscow, including VAT, triggered by dollar hike.

Some converters said they had to suspend PE purchases because they could not pass the increased cost of the feedstock over the finished products. Some traders in their turn said they had to temporarily suspend sales of polyethylene amid volatility of exchange rate, as they buy feedstock in the foreign markets by dollar contracts.

The similar situation was in the market of high density polyethylene (HDPE). Earlier this week, price offers for film and blow moulding HDPE were on average in the range of UAH16,800-17,400/tonne CPT Kiev, including VAT. Price offer for pipe black PE100 rose from UAH18,000-18,400/tonne CPT Kiev, including VAT to the level of UAH18,800-19,500/tonne CPT Kiev, including VAT.

Some PE suppliers said if dollar rate increases further, PE price will grow proportionally in the Ukrainian market.
MRC

MOSCOW (MRC) -- Kem One, Europe’s third-largest producer of polyvinyl chloride (PVC) has announced an increase in February prices of suspension PVC (SPVC) grades and mass PVC (MPVC) grades, given the weakness of the market for caustic soda and margin erosion, reported the company in its press release.

The increase for the products stated above was EUR25/tonne. In January 2014, Kem One already raised PVC prices by EUR50/tonne.

As MRC informed previously, in late December 2013, the Lyon commercial court designated the new owner of the company Kem One SAS, and put to an end the insolvency proceedings opened on 27 March, 2013.

The commitment of all stakeholders involved, under the aegis of the public authorities, has enabled the takeover of the company and the continuation of its business as part of a takeover bid validated by the commercial court and with the full support of the French government.

Kem One, a fully integrated vinyl production company, was established mid-2012 following the acquisition of Arkema's vinyl products division by the Klesch Group. The company employs 2,600 people at 22 manufacturing sites, primarily in Europe but also in Asia and North America. Europe’s third-largest producer of PVC with revenues in excess of one billion euros, KEM ONE continues to grow and build on its numerous strengths with a view to becoming market leader for integrated vinyl solutions.
MRC

MOSCOW (MRC) -- Ineos ChlorVinyls has announced a price increase for suspension polyvinyl chloride (SPVC) effective from 1 February 2014, reported the Switzerland-based producer on its site.

Prices of pipe grade suspension PVC delivered in bulk in Europe were raised to EUR1,195/tonne, while prices of pipe grade SPVC delivered in bulk in UK/Ireland rose to GBP1,065/tonne.

As MRC informed previously, Ineos already increased its SPVC prices in December, 2013, as follows: prices of pipe grade SPVC delivered in bulk in Europe was at EUR1,145/tonne; for pipe grade SPVC delivered in bulk in UK/Ireland - GBR1,025/tonne.

Last year, Ineos and Solvay agreed to merge their chlorvinyls activities into a EUR 4.3 billion (USD5.6 billion) 50-50 joint venture. The combination would form a polyvinyl chloride (PVC) producer that will rank among the top three worldwide. The combined business would have around 5650 employees across nine countries and would pool each company's assets across the entire chlorvinyls chain. This includes PVC, which is the third most-used plastic in the world, caustic soda and chlorine derivatives.

Ineos ChlorVinyls is one of the major chlor-alkali producers in Europe, a global leader in chlorine derivatives and Europe's largest PVC manufacturer.
MRC