Asian PET prices grew by USD25-40/tonne this week

MOSCOW (MRC) -- PET market players reported higher export prices of Chinese and Korean bottle granulate, an increase of USD25-40/tonne from last week, according to ICIS-MRC Price report.

The spread of Chinese PET spot prices was heard at USD1,410-1,420/tonne FOB China. Spot deals were being concluded by major buyers at USD1,395-1,400/tonne FOB China.

Prices of Korean bottle PET grades were announced at USD1,440-1,450/tonne FOB Korea.

Feedstock price increases were a cause of the present PET price rise, said a Korean trader. Paraxylene prices went up because of a surge in oil prices in July. MEG prices also showed a rapid upward trend. Buying activity is going to grow in early August due to the end of the long holidays - Ramadan, a source added.
Major consumers of imported granulate in Russia and Ukraine said the growth of export prices in late July was predictable. Also, some market players expect an increase in purchasing prices by late August and a possible start of an upward price trend. Meanwhile, converters and traders said that the cost of procurement will be affected not only by higher export prices. An increase in an additional fee to the starting freight rate (GRI) will also affect pricec of the material brought to the CIS markets.

MRC

MOSCOW (MRC) -- Sale of Russian PET granulate in the domestic market in the first half of 2013 rose on strong demand, an increase of 10% year on year, according to MRC ScanPlast.

Overall, 217,300 tonnes of domestic granulate were sold in Russia in just the first half of 2013, whereas the total output over the said period amounted to 230,700 tonnes. Meantime, about 13,000 tonnes of bottle grades were exported.

Strong buying activity in the domestic market, the current contractual obligations to major converters and weak demand for PET granules in Europe ensured an increase in domestic supplies.
The PET market capacity in Russia in January-June 2013 grew by 1.3%. Overall, PET consumption in Russia over the said period totalled 307,600 tonnes.

MRC

MOSCOW (MRC) -- Deceuninck North America, a leading designer and manufacturer of high-quality systems for windows, doors, and outdoor living, has formed a marketing partnership with RENSON Ventilation NV, a trendsetter in natural ventilation and sun protection, to add even greater value to Deceuninck’s high-quality, energy-efficient vinyl windows for commercial applications, reported the company on its site.

"At Deceuninck North America, we are always seeking partners that can bring innovative solutions to the table, solutions that make our windows even more distinctive and better than what is available in the marketplace," said Filip Geeraert, president and CEO of Deceuninck North America. "We are pleased to partner with RENSON, and we think people will be impressed by what they see at AIA."

Deceuninck’s Revolution Tilt-and-Turn Windows feature a seven-chamber thermal structure and multifunctional operability in a window that has the capability of achieving an R-value of 7+, and a C-100 rating. Revolution tilts in and locks for secure, indirect ventilation. It has minimal frame and sash sightlines and features maximum daylight area to take full advantage of today’s high-performance glass technologies. The product offers installation accessories for the North American market, and it has complete compatibility with the most popular North American doorsystems.

We remind that, as MRC wrote previously, in late 2012, Deceuninck and Gealan, two European window makers, have developed uPVC window profiles that do not rely on tubular galvanised steel inserts for strength. While steel acts as an effective reinforcement, its heat-conducting properties impede energy efficiency.

Deceuninck NV is a Belgian designer and producer of PVC systems for windows and doors, interior, roofline & cladding and terraces. The company extrudes PVC and the single base material Twinson.
MRC

MOSCOW (MRC) -- The Board of Directors of Total approved a second quarter 2013 interim dividend of EUR0,59 per share, unchanged versus the previous quarter and payable in euros according to the following timetable: ex-dividend date - December 16, 2013, record date - December 18, 2013, payment date - December 19, 2013, according to the company's press release.

American Depositary Receipts ("ADRs") will receive the second quarter 2013 interim dividend in dollars based on the then-prevailing exchange rate according to the following timetable: ex-dividend date - December 11, 2013, record date - December 13, 2013, payment date - January 7, 2014.

Registered ADR holders may also contact The Bank of New York Mellon for additional information. Non-registered ADR holders should contact their broker, financial intermediary, bank, or financial institution for additional information.

We remind that, as MRC reported previously, last autumn Total announced its plans to invest over EUR1 billion into its Belgian refining and petrochemical complex to boost its diesel-making capacity and create cost-cutting synergies. This investment could bring Europe's largest refiner extra cash of USD500 mln a year.

Total S.A. is a French multinational oil and gas company and one of the six "Supermajor" oil companies in the world with business in Europe, the United States, the Middle East and Asia. The company's petrochemical products cover two main groups: base chemicals and the consumer polymers (polyethylene, polypropylene and polystyrene) that are derived from them.
MRC

MOSCOW (MRC) -- Indorama Ventures USA plans to raise polyethylene terephthalate (PET) resin contract prices by 3 cents/lb in August, joining a pair of US producers also planning to implement feedstock-related increases, siad Plastemart.

The increase also applies to resin from its Alphapet, Starpet and Auriga Polymers subsidiaries, according to letters sent to customers late Monday.

DAK Americas and Nan Ya Plastics Corporation also announced 3-cent/lb increases, effective August 1.
"This announcement is necessary due to the increase in raw material costs," Indorama's letter states. "We will, however, continue to monitor the situation and advise you of any changes."

As MRC wrote before, Indorama Ventures (IVL) has completed the acquisition for the PET resin assets of PT. Polypet Karyapersada based in Cilegon, Indonesia, at a site with a capacity of 100,800 tonnes per annum.

Indorama Ventures is a leading producer in the polyester value chain in Thailand with strong global network and manufacturing across Asia, Europe and North America. Its products serve major players in diversified end use markets, including food, beverages, personal and home care, health care, automotives, textile, and industrial. The company’s main products are PTA, PET and polyester fibre, which are distributed across the world.

MRC