Anti-dumping duties on China’s BOPET films to South Korea extended

(plastemart) -- Fuwei Films (Holdings) Co., Ltd., a manufacturer and distributor of high-quality BOPET plastic films in China, announced that the anti-dumping duties imposed on the company's exported biaxially oriented polyethylene-terephthalate (BOPET) films to South Korea will be extended for three more years beginning on May 25, 2012.

According to the Ministry of Strategy and Finance, the rate for Fuwei Films Shandong Co., Ltd ("Shandong Fuwei"), the subsidiary of Fuwei Films was set at 11.72%, higher than one of its counterparts at 5.87%. Punitive duties of 25.32% will be imposed on the PET films manufactured by six Chinese firms. The rate for the remaining Chinese manufacturers was set at 23.61%.

Anti-dumping duties of 14.63% and 25.32% were slapped on products produced in India.

MRC

(plastemart) -- NextLife, the global leader of sustainable plastic resins, announced that the company's recycled polypropylene (PP) and recycled polystyrene (PS) resins have received clearance from Health Canada for use in manufacture of thermoformed or injection molded articles for contact with food.

This marks the first time that any post-consumer recycled resins have received approval in Canada for use in food products. NextLife resins, which are approved for up to 100 percent recycled content, have comparable performance qualities to virgin PP and PS and have wide consumer applications.

"We are extremely pleased to be the first company to receive clearance for post-consumer recycled resins to be used in the manufacture of food contact products in Canada," said Ronald Whaley, CEO of NextLife. "This expands the target market for our resins and demonstrates the success of our growth strategy which is partly based on securing approvals for our resins in different markets around the globe as we have in the U.S. and now Canada."

NextLife recycled PP and recycled PS resins also meet U.S. Food and Drug Administration (FDA) clearance for up to 100 percent recycled content in thermoformed or injection molded articles for contact with non-alcoholic food.

MRC

(dow) -- The Dow Chemical Company announced the introduction of its technology platform for RHOPLEX ECONEXT Acrylic Binders for the North American hygiene and medical market. This series of low and ultra-low formaldehyde binders allows companies an opportunity to manufacture end-use nonwoven products with minimal levels of formaldehyde and comply with the industry’s most stringent standards.

The first line of products to be commercialized in North America can be used in disposable and re-usable nonwoven applications and are particularly useful in environments that might be formaldehyde sensitive, including hospitals, schools, LEED certified buildings and manufacturing facilities.

Dow introduced this innovative technology platform to address growing demand for the best performance characteristics of the conventional self-crosslinking nonwoven binder technology, but with ultra low levels of formaldehyde. This family of acrylic binders enables customers to meet increasingly stringent industry standards, such as the OEKO-TEX 100 standard for textile raw materials, intermediates and end products.

MRC

(chemmonitor) -- BASF reported that market situation in Asia Pacific in Q1 2012 is worse than it was planned.

The company saw its first quarter of 2012 revenue in the region down by 8% in local currency and by 3% in EUR in comparison to first three months of 2011.

Asia Pacific contributed 16% in company’s overall EUR 20.59 bln sales in Q1FY2012, a year earlier this share was 17.5%.

Lower prices especially in chemicals segment and lower volumes in Plastics segment were responsible for the sales decline.

However the company is not going to stop investing in Asia Pacific. BASF’s sales in India exceeded EUR 1 bln, the company is able to import missing volumes no more, and that’s why it will soon need a new plant there.

The company plans translation motion to EUR 29 bln Asia Pacific sales in next 8 years, compared to EUR 13.2 bln in 2011, which means annual growth rate of more than 9%.

MRC

(yarnsandfibers) -- June ethylene contract prices in Brazil were stable over May at USD1,760/mt FOB plant, a source at the countrys only monomer producer, Braskem, said Tuesday.

Even though last month in Europe ethylene contract prices were settled down by Eur 20/mt, because of the dollar-real exchange rates, the contract prices for the Brazilian domestic market were unmoved, said a source at the the company.

Brazils ethylene price formula is attached to the European contract price movements, with a one-month month lag.

In May, with the drop of Eur20/mt, ethylene contract prices in Europe were heard at Eur1,325/mt, free delivered.

Downstream, the polyethylene import market in Brazil was showing some signs of improvement this week, a trader said.

Braskem announced polyethylene price increases for the domestic market of Real 150-200/mt, and Asian offers to Brazil went down USD20-30/mt over last week.
MRC