European producers decreased LLDPE prices

MOSCOW (MRC) -- In June, European producers decreased export prices for linear polyethylene (LLDPE) on average by EUR 50-70/mt under the pressure of declined contract prices for ethylene, according to ICIS-MRC Price Report.

In May, some European producers decreased prices for linear polyethylene for the domestic market. Export prices remained without changes, except for butene grades of LLDPE. In June, after cheapening of ethylene from European producers, export prices for polyethylene significantly decreased.

The level of export prices for hexane linear polyethylene in June fell on average by EUR 50-70/mt. Export prices for butene LLDPE were corrected yet in the second half of May. In June, the price kept on decreasing. In comparison to May, the level of prices for butene linear polyethylene fell by EUR 70 - 120/mt.


Kazakhstan to extend the ban on petrochemicals export

(Xinhua) -- Kazakhstan wants to extend the ban on petrochemicals export beyond July 1, Minister of Oil and Gas Sauat Mynbaev said on Tuesday in Astana, the Kazakh capital. "We hope to extend the ban. We have to agree it with our partners in the Customs Union," Sauat Mynbaev told journalists. Answering a question about possible time limits for the ban, the minister said that all would depend on the market situation.

Meanwhile, an informed source told Interfax-Kazakhstan that the ban would be extended to the end of this year. As previously reported, in April Kazakhstan extended the ban on petrochemicals exports until July 1. In November 2010, the Kazakh government extended for six months the ban on the exports of light distillates, kerosene and gas oils, except special gasolines and domestic heating oil.


Constar International completed financial restructuring

(BUSINESS WIRE) -- Constar International LLC, a leading global producer of PET (polyethylene terephthalate) plastic containers for food and beverages, announced that the Company and its affiliated entities completed their financial restructuring and successfully emerged from Chapter 11 on May 31, 2011. The Company is now named Constar International LLC. The reorganization was completed less than five months from the filing of their Chapter 11 petitions on January 11, 2011. In conjunction with its emergence from Chapter 11, Constar also announced that it had entered into a new financing facility with Wells Fargo to provide the Company with ongoing liquidity.


China's health ministry banned the use of Bisphenol A

(China Daily) -- Six ministries announced on Monday that they have banned the use of Bisphenol A (BPA) in the production of babies' bottles in an attempt to protect the health of infants.

The China's Ministry of Health and five other ministries issued a joint notice on their websites calling for an end to the production of such bottles starting on June 1. The ministries have also forbidden the import and sale of such bottles starting Sept 1.

BPA is widely used in the production of plastics, including tableware and beverage containers. However, BPA is now understood to be an endocrine disruptor and experts say it could lead to the early sexual development of children and may cause cancer. Its use was banned in Canada in September 2010 and in the European Union in March.

On April 20, China's health ministry solicited opinions from related government agencies on a draft proposal to prohibit the manufacture and import of infant food containers incorporating the chemical.

When the final regulation was released, the ministry changed the phrase "infant food containers" into "infant nursing bottles" for clarification.


LG Chem buys July naphtha at minus USD 3/t

(Reuters) -- LG Chem bought around 50 KT of open-spec naphtha for first-half July arrival at Yeosu at a discount of USD 3 a tonne to Japan quote on a cost-and-freight (C&F) basis, lowest level seen in South Korea in nearly eight months, traders said on Wednesday. Sentiment was on a downward spiral since May 13 after Asia's top naphtha buyer Formosa shut one of its three crackers following a fire at a pipeline. "Some traders are under pressure to sell their cargoes," said a source. The last time South Korea saw spot naphtha prices in discount was on Oct. 8, 2010.