Demand for polypropylene decreased in Belarus by 4% in 2013

MOSCOW (MRC) - Demand for polypropylene (PP) in Belarus declined by 4% in 2013. The main decrease in demand occurred for homopolymer PP, according to MRC analysts.

Total imports of polypropylene to Belarus decreased to 83,100 tonnes in 2013 against 86,800 tonnes in 2012. Demand for homopolymer PP weakened, while the demand for propylene copolymers, on the contrary, became stronger.

Imports of homopolymer PP were reduced to 60,000 tonnes in 2013 against 64,600 tonnes in 2012. One of the reasons for the decline in demand for homopolymer PP was the reduction of BOPP films output.

Key suppliers of homopolymer PP to Belarus were producers from Russia and Poland, with 33,900 tonnes and 6,800 tonnes delivered in 2013 respectively. Belarusian market of propylene copolymers in 2013 showed an increase of 4.1% from 22,200 tonnes to 23,100 tonnes.

The main increase in demand occurred for the local producers of injection moulding PP products. Key suppliers of propylene copolymers to Belarus are producers from Germany and the Czech Republic with volumes 15,600 tonnes and 3,000 tonnes respectively in 2013.
MRC

MOSCOW (MRC) - Chinese producers sharply cut spot price for polyethylene terephthalate (PET) for export markets.
This week prices for Chinese PET for customers in the CIS were reduced by USD30/tonne, according to ICIS-MRC Price Report.

Following the fall in prices of paraxylene and other feedstock, Chinese producers of PET chips cut export prices for the CIS markets.

At the present offer price for Chinese bottle grade PET in the port of Odessa was heard at USD1,310-1,335/tonne CIF Odessa, excluding VAT.

Offer price in the Russian ports in the east of the country was heard at USD1,280-1,300/tonne CFR Vostochny, excluding VAT.
MRC

MOSCOW (MRC) - SIBUR, the largest producer of expandable polystyrene (EPS) in Russia, reduced export prices for March shipments by USD30/tonne, from the February's level, according to ICIS-MRC Price Report.

New export price of Russian EPS from the warehouse in Voronezh was heard at USD2,000/tonne FCA , excluding VAT.

Offer price for EPS from the warehouse in Perm was heard at USD1,970/tonne FCA , excluding VAT.

Ukrainian converters said they had to buy Russian EPS, because European EPS price was significantly higher, besides there was no sufficient volumes of Ukrainian material from Stirol.
MRC

MOSCOW (MRC) -- Andrey Frolov has been appointed Executive Director of SIBUR International GmbH, succeeding Ilya Gushchin, who left the company for another job, said the producer in its press release.

At the same time, Andrey Frolov will continue serving as Director for Methodology, Monitoring, Sales Development and Marketing at SIBUR.

SIBUR International's Moscow office will be headed by Marat Avetisov.

SIBUR International GmbH is SIBUR's export division, providing trading and logistic services to SIBUR and other companies in the industry, specialising in export and distribution of Russian petrochemicals in Europe and Asia. The company operates warehouse facilities at the ports of the Black and Baltic Seas, which accept, store and ship freight. Currently, SIBUR International ships goods to 60 countries.

In 2010, SIBUR established SIBUR International Trading (Shanghai) Co., selling petrochemicals to Chinese companies. SIBUR's trading companies also operate in Turkey and Ukraine.
MRC

MOSCOW (MRC) -- The Supervisory Board of BASF SE decided in its meeting to propose the following candidates as shareholder representatives for election to the company’s Supervisory Board by the Annual Shareholders’ Meeting on May 2, 2014:

Dame Alison Carnwath DBE (61), London; Professor Dr. Francois Diederich (61), Zurich; Michael Diekmann (59); Munich; Franz Fehrenbach (64), Stuttgart; Dr. Jurgen Hambrecht (67), Neustadt/Weinstrasse; Anke Schaferkordt (51), Cologne.

Dr. Jurgen Hambrecht is proposed as candidate for Chairman of the Supervisory Board. Dr. h.c. Eggert Voscherau (70), who has chaired the Supervisory Board since 2009, and Max Dietrich Kley (73), who has been a member of the Supervisory Board since 2003, are no longer available for re-election.

The Supervisory Board also approved the financial statements of BASF SE and the consolidated financial statements of BASF Group as well as the dividend proposal made by the Board of Executive Directors. The Board of Executive Directors and the Supervisory Board of BASF SE will therefore propose to the Annual Shareholders’ Meeting on May 2, 2014 the payment of a dividend of EUR2.70 per share for 2013 (previous year: EUR2.60 per share). If the proposal is approved by the Annual Meeting, the dividend will be paid out on May 5, 2014.

As MRC reported earlier, BASF has recently signed a contract to divest its liquid masterbatch business in Clermont de l’Oise, France, to Audia International, a large global supplier of polyolefins and color masterbatches. The transaction is expected to close in mid 2014. The parties have agreed not to disclose financial details of the agreement. Earlier, in December 2013, BASF signed a contract to sell its Vinuran PVC modifier business to Kaneka Belgium N.V., a subsidiary of Kaneka Corporation, Japan.

BASF is the leading chemical company. It 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