European PVC prices increased in May by EUR20-30

Moscow (MRC) -- European producers increased prices of polyvinyl chloride (PVC) for deliveries to the CIS markets, despite a slight decline in feedstock prices, according to ICIS-MRC Price Report.

Negotiations on European PVC prices for May delivery to the CIS markets have begun this week. European ethylene prices for May delivery were agreed down by EUR5/tonne, compared with the April level.

However, European producers announced increase in export PVC prices of EUR20-30/tonne. Price offers for May European PVC were heard in the range of EUR760-800/tonne FCA.

Some European producers have significantly reduced their export quotas, compared with April. Some companies said they managed to contract no more than half of the required volumes.

European producers explained the price rise by the seasonally stronger demand, scheduled maintenance works at some plants (Anwil, Poland) and the need to improve their margines.
MRC

MOSCOW (MRC) -- LyondellBasell Industries NV has promised the government to keep petrochemical operations near Marseille operational in the "long term" while a refinery there will be permanently shut, as per Bloomberg.

The petrochem major has confirmed that the closure of its refinery will not affect the viability of its petrochemical activities at the Berre and Fos sites. The company also agreed to clean up the refinery site so it can be used for other industrial and logistics businesses.

The comments close another chapter in the decline of refining in France. The 105,000 barrel-a-day plant has been mothballed since January 2012 and talks with bidder Sotragem SAM ended without a deal last month.

Refiners are mothballing plants across Europe, where overcapacity is depressing profit margins. In recent years Petroplus Holdings AG and Total SA have stopped refining at their plants at Petit-Couronne, Reichstett and Dunkirk.

As MRC wrote before, LyondellBasell had pulled out of talks to sell its Berre refinery in southeastern France to Monaco-based Sotragem.

LyondellBasell Industries NV is a manufacturing company. The company produces chemicals, fuels, and polymers used for packaging, clean fuels, durable textiles, medical applications, construction materials, and automotive parts. LyondellBasell Industries operates globally and is headquartered in the Netherlands. LyondellBasell is also a leading licensor of polypropylene and polyethylene technologies. The more than 250 polyolefin process licenses granted by LyondellBasell are twice that of any other polyolefin technology licensor.
MRC

MOSCOW (MRC) -- BASF, the world's petrochemical major, has increased prices in Europe, Africa and Western Asia for HDI (Hexamethylene Di-Isocyanate) and derivatives range (Basonat) by 3% to 5% with immediate effect or as contracts allow, as per the company's press release.

The price increase is necessary due to the current market situation and the significant rise in the cost of raw materials.

The products affected by the price increase are used mainly as raw materials in the coatings, printing and packaging industries.

Earlier, in April 2014, BASF increased its selling prices for butanediol and derivatives in Europe. Prices for the following products will be increased with immediate effect, or as existing contracts permit: 1,4 butanediol (BDO) - by EUR60/tonne, tetrahydrofuran (THF) - by EUR80/tonne, polytetramethylene ether glycol (PolyTHF) - by EUR80/tonne. The price adjustment ensures that BASF can continue to offer quality products and services to its customers.

As MRC informed previously, in January, 2014, BASF and China Petroleum & Chemical Corporation (Sinopec) broke ground on the construction of its world-scale isononanol (INA) plant in Maoming Hi-tech Industrial Development Zone, Maoming, China. At start-up in 2015, the plant, which is the first of its kind in China, will serve the increasing market demand for next-generation plasticizers. A newly-formed 50-50 joint venture company has been created, BASF MPCC Company Limited.

BASF is the world’s leading chemical company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. BASF had sales of about EUR74 billion in 2013 and over 112,000 employees as of the end of the year.
MRC

MOSCOW (MRC) -- Jilin Petrochemical has shut a low density polyethylene (LDPE) plant for maintenance turnaround, reported Apic-online.

A Polymerupdate source in China informed that the plant was shut on May 5, 2014. It is likely to remain off-stream for around 15 days.

Located in Jilin province, China, the plant has a production capacity of 275,000 mt/year.

As MRC wrote before, Jilin Petrochemical shut a high density polyethylene (HDPE) plant for a on-month maintenance turnaround on April 10, 2014. Located in Jilin province, China, the plant has a production capacity of 300,000 mt/year.

Besides, earlier, Sinopec Shanghai Petrochemical shut down its HDPE plant on March 26, 2014 owing to feedstock issues. A restart date for the plant could not be ascertained. Located in Shanghai, China, the plant has a production capacity of 250,000 mt/year.
MRC

MOSCOW (MRC) -- The board of directors of Eastman Chemical Company, a global specialty chemical company, has declared a quarterly cash dividend of USD0.35 per share on the company's common stock, reported the company in its press release.

The dividend is payable on 1 July, 2014, to stockholders of record as of 13 June, 2014.

As MRC wrote previously, brand owners can now select Eastman Tritan copolyester and Eastar copolyester from Eastman Chemical Company for carbon filtration and reverse osmosis systems. Unlike polycarbonate (PC), both materials are made without bisphenol A (BPA), a big advantage for brand owners looking to answer consumers’ needs for BPA-free products. Tritan and Eastar provide a clear view of the filtration media, without the breakage and durability issues associated with some clear plastics, including styrene acrylonitrile copolymers (SAN). The glasslike clarity of Tritan and Eastar also allow for greater tinting flexibility, compared with the noticeable blue cast of SAN.

Eastman (headquartered in Kingsport, Tennessee, USA) is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction, and consumables.
MRC