PP an PE prices in Asia are sluggish on weak demand

MOSCOW (MRC) - Low buying activity in the Asian market of polyolefins does not allow domestic producers to raise prices, according to MRC analysts.

Price quotations of polyethylene in Asia last week remained unchanged. Purchasing activity was low because of the high volatility of oil quotations and uncertain global outlook of economy. Many market participants do not expect any improvement in demand for polyethylene in the region in the near future. Even the growth of ethylene quotations is unlikely to make local converters increase their purchases of polyethylene.

The situation in the polypropylene market looks much the same as the market of PE. Buying activity is low on the back of volatility of oil quotations and decreasing prices of propylene. Some converters in China in the sector of household appliances and furniture are reporting an increase in demand for finished products, but at the same time, sales volumes are lower than last year. In South-East Asia, the number of deals was small because many companies have already closed contracts for August and are in no hurry to buy PP for September.

Prices of linear polyethylene last week were at USD1,240 – 1,280/tonne, CFR.

HDPE was offered on average at USD1,260 – 1,320/tonne, CFR. The deals on the supply of PP-homo were in the range of USD1,340 – 1,380/tonne, CFR.

MRC

Teknor Apex introduces new PVC elastomer compounds

(Plastech) -- Two Flexalloy PVC elastomer compounds from Teknor Apex Company provide manufacturers of charger cable for electric vehicles with more cost-effective alternatives to other elastomers in both insulation and jacketing, the company announced. The new compounds are Flexalloy 89504-90 and Flexalloy 9610-78 for jacketing.

Unlike standard flexible vinyl, Flexalloy compounds are based on ultra high molecular weight PVC resin. They exhibit improved toughness, abrasion resistance, and low temperature properties and provide elastomeric resilience and resistance to compression set. The compounds can be processed on standard PVC equipment.

Teknor Apex Company is a privately held company founded in 1924 and headquartered in Pawtucket, Rhode Island, USA. It manufactures for their eight divisions in 8 locations in the U.S., and one each in Singapore, China, Belgium and the United Kingdom. Among the main products of the company are vinyl, thermoplastic elastomer, nylon, bioplastics, chemicals.
MRC

Fire breaks out at Iran biggest petrochemical plant

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(panarmenian) -- A fire that broke out at Iran's biggest petrochemical plant killed at least one person and injured 15 others before it was put out, AFP reported, citing the Iranian media.

The blaze at the Bandar Imam petrochemical complex, in the southwestern city of Mahshahr, occurred on Friday and was caused by a gas leak in a feeding line, according to the Shana news agency belonging to Iran's oil ministry.

"Unfortunately in this accident, one person was killed," it quoted Qodratollah Nasiri, the security head of Iran's National Petrochemical Co, as saying.

The fire was now extinguished, Nasiri was quoted as saying. "The processing units at the plant were not damaged... but some of the units are offline."

The plant reportedly produced more than four million tonnes of products last year, including polymers, benzenes, propane gas, butane and fuel oil.

The company has a 60,000 tonne/year high density PE (HDPE) plant, two 50,000 tonne/year low density PE (LDPE) lines and a 100,000 tonne/year PP facility at the Bandar Imam Khomeini complex.
MRC

Reliance to strengthen partnership with BP

(Plastemart) -- Reliance Industries has signed an agreement with British Petroleum (BP) to source the latter’s proprietary paraxylene technology for its aromatics plant at the site.

With this, RIL is extending its USD7.2 bln exploration and production partnership with UK-based BP to downstream segments. Technology is said to be sourced through Chicago Bridge & Iron Company (CB&I) to set up the world’s biggest aromatics complex.
MRC

Indorama resumed operations of two plants

(Chemmonitor) – Indorama Ventures based in Thailand has recently resumed operations at its two idled production units located in Texas (USA).

The plants were shut down in the second half of July. They produce monoethylene glycol (MEG) as well as ethylene oxide (EO).

Indorama Ventures is a multi-faceted organisation. It is a leading manufacturer of petrochemicals and associated downstream products up to textile raw materials. Indorama is a multinational organisation with products being shipped to over 90 countries across the globe.
MRC