Formosa to start a scheduled maintenance at its No. 2 cracker

(Bloomberg) -- Formosa Petrochemical Corp. plans to shut its No. 2 ethylene plant for scheduled maintenance on Oct. 5 for 40 to 45 days. Repairs have seen some delay at its smaller No. 1 ethylene plant that was shut in first week July, on account of rains. The No. 2 plant has a capacity to produce 1.035 mln tpa of ethylene, while the No. 1 unit produces 700,000 tons. Repairs at the No. 1 plant are expected to be complete in early October, subject to government approval for starting it after the accident.

MRC

The increase of PVC import duty to weaken Russian converters

MOSCOW (MRC) -- The increase of PVC import duty to 15% is a problem for the domestic processing. The duty for finished goods should be equalized with raw material duty to support this business - accroding to MRC analysts.

Of course, Russian PVC production should be saved. But that shouldn't be done at the expence of the converters. If the duty for a compound or profile is 10%, and for raw PVC - 15%, than it is much more profitable to import the finished goods than produce them inside the country. In this case, the duty for finished goods should be equalized, or Chinese companies will enter the Russian market with finished profiles. The similar situation was in 2006 and 2007, when profile imports were close to 200 kt.

PVC-S imports from China amounted to 80 kt in eight months of 2010 (one third of Russian imports), and the suspension market is around 570 kt big. In the long term, return to old duty of 15% will most likeky decrease supply from the spot market players, who are mostly from the USA due to cheaper USD. Russia is a spot market for them today.

Russian PVC market prospects will be discussed at Russian Polymers Summit on October 14, 2010 organized by ICIS and MRC. For more information please refer to http://www.icisconference.com/russianpolymers/ Summit official web page.

MRC

More information about the Russian PVC market is available in MRC "PVC in Russia -2010" Annual report.

PVC-S imports exceeded 50 kt in Russia

MOSCOW (MRC) -- By August results, total PVC-S imports have reached the record 50,7 kt, where American PVC amounted to over 51% - according to MRC DataScope report.

PVC-S imports have been constantly increasing in the Russian market since the beginning of the year, the figure amounted to 50,7 kt in August. These imports are mostly caused by the expectations of many market players of high demand for PVC finished goods (window profile, windowsills, sidings etc.) and a period of planned suspensions of the main Russian PVC producers in September and October. At the same time, big import volumes helped preventing the shortage in the Russian PVC market after unplanned long-term shutdown of Sterlitamak plant.

For the first time after May 2008 suspension imports exceeded 50 kt. For the first time in a couple of years PVC supply from North America into Russia exceeded 50% of total volumes. China had been a traditional PVC-S leading importer before, but its share went down to 23% in August.

Russian PVC market prospects will be discussed at Russian Polymers Summit on October 14, 2010 organized by ICIS and MRC. For more information please refer to http://www.icisconference.com/russianpolymers/ Summit official web page.

MRC

More information about Russian PVC market is available in MRC DataScope reports.

La Seda sells 10% stake of Portuguese terephthalic acid plant

(prw) -- Leading European PET producer La Seda de Barcelona has reduced its shareholding in a major upstream plant construction project in Portugal to a stake of just 41%.


Previously, La Seda based in Barcelona, Spain, owned 51% of the ┬400m scheme to construct a 700,000 tpa purified terephthalic acid (PTA) plant at Sines, Portugal which is due to be completed at the end of this year.

Now, the Spanish group says it has agreed to relinquish its controlling interest in the Artenius Sines project, selling shares to three Portuguese investment funds. The buyers are ECS Capital, through its Fundo Recuperacao, Caixa Capital and InovCapital with stakes amounting to 29%, 19% and 11% respectively.

MRC

Croda to increase additives production in UK

(prw) -- Croda is set to expand production capacity for amide slip additives at its facility in Hull, UK. The Hull site is Croda's global centre for excellence in the manufacture of amide slip additives.

In its announcement, Croda described the expansion as ⌠a multi-million dollar investment, but did not state the value or the facility's capacity after the expansion.

MRC