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07.01.2009 / Petrochem firms downsize in crisis
Korea’s petrochemical makers are pushing to downsize their business operations to contend with a sharp fall in demand amid a global economic downturn, industry sources said yesterday.
Local petrochemical companies, including LG Chem Ltd....
07.01.2009 / China Engineering Plastics Industry Association honours Rohm and Haas addit
On its 20th anniversary year (2008) entering China market, Rohm and Haas was recently named "Best Business Partner" in the China Plastics Industry by the China Engineering Plastics Industry Association (CEPIA). The company was recognized for its...
07.01.2009 / China plans tariff reduction on Polystyrene imports from Singapore
China plans to reduce tariff on Polystyrene import from Singapore from 6.5% to 5% in 2009, and to 0% in 2010. Singapore follows Hong Kong, and will become the second Asian economy that enjoys 0 export tax to mainland China.
Total...
07.01.2009 / Downcast downstream demand weakens ABS prices in Asia
Downcast downstream demand has weakened ABS market in Asia amid another plunge in feedstock butadiene prices.
After the fall in butadiene values, key South Korean and Taiwanese producers have reduced CFR China offers to US$1070/MT, with...
06.01.2009 / Ethylene and propylene prices strengthen in Asia
Ethylene markets of Asia gained strength on restricted supplies and limited buying as most players retreated from the markets on account of Christmas and New Year week. Interestingly, propylene prices firmed up with strengthening downstream...
06.01.2009 / Reliance Petroleum to start up new polypropylene plant after Feb
India's Reliance Petroleum Limited plans to start up a 900,000 mt/year polypropylene plant at its newly commissioned 580,000 b/d Jamnagar refinery in Gujarat after February, a source close to the company said late Monday.
"The plant has not...
06.01.2009 / Asian PVC sellers seek further increases in 2009
In China, traders have reported receiving initial February offers for Korean and Thai PVC at prices $40-70/ton above the January done deal levels for Asian PVC in China. Initial February offers for Korean PVC were reported at $680/ton CFR CMP,...
06.01.2009 / Indian Oil to implement major projects in 2009 competition in petro-retail to increase
Indian Oil Corporation has announced plans to commission major refinery projects during 2009.
Reports quoted B N Bankapur, IOC's director for refineries, as saying that projects scheduled for commissioning during this year include the...
05.01.2009 / IOC plans expansion of Panipat refinery in 2009
In 2009, Indian Oil Corp (IOC) plans expansion of the Panipat refinery and commission a naphtha cracker complex adjacent to it. The refinery will be expanded by three 3 mln tons to 15 mln tons.
Source: Plastemart
05.01.2009 / Lotte Daesan shelves 2009 contract with Saudi Aramco for alternate supplies
South Korea's Lotte Daesan Petrochemical has shelved its 2009 contract with Saudi Aramco for 150,000 tons of naphtha, in favour of better offers from other sellers. Lotte Daesan, set to merge with Honam Petrochemical Corp on Jan. 1, did not renew...
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