Sabic infromed customers of price hike for engineering thermoplastics

February 23 (plasteurope) -- Sabic Innovative Plastics has sent out letters to its European customers informing them that it will raise the prices of several engineering thermoplastics. Specifically, the hike of EUR 220/t, which comes into effect on 15 March 2010, involves all polycarbonate resins, the ⌠Lexan copolymer grade, the ⌠Cycoloy blend (PC/ABS) and the ⌠Cycolac (ABS) styrene range. The group also is planning to raise the price of its ⌠Ultem range.

As part of the same announcement, Sabic also communicated price increases of EUR 150/t for its ⌠Noryl (PPE/PS), ⌠Valox (PBT) and ⌠LNP resins and compounds.

MRCMRC Reference

Sabic. The share in the Russian market in 2008:
PE - 0.2%;
PP - 0.4%;
PS - 0.2%.

Annual sales growth in Russia over the last 5 years:
PE - 33%;
PP - 62%.

Overall imports of resin produced by America's Georgia Gulf and Oxyvinyls moved at 2.2 kt. The share of 225P/Oxyvinyls and PVC-1091/Georgia Gulf grades exceeded 90% of overall imports of material produced by those companies.

Russian companies were not importing PVC-S from Taiwan in January. Formosa's resin was imported only from the USA (726 mt). Imports of Chinese PVC-S amounted only to 1.1 kt (whereas average monthly imports of Chinese feedstock during the second half of 2009 exceeded 10 kt).

MRC

For more detailed information, see DataScope.

February 22 (plasteurope) -- Citing the need to recover its margins, Dow Europe has announced a EUR 80/t price increase for polyethylene resins in Europe, the Middle East, Africa and India.

The hike applies to all the group's LDPE, LLDPE and HDPE grades and will go into effect on 1 March 2010.

MRCMRC Reference:

Share in the Russian market, 2008:

polyethylene - 2.5% (including LLDPE - 33.1%);

polypropylene - 0.8% (including PP-impact - 1.1%);

polystyrene - 2.6%.

Annual sales growth in Russia, recent 5 years:

polyethylene - 55%;

polypropylene - 28%;

polystyrene - 2%.

Imports by processing technologies:

pipe extrusion;

film extrusion;

sheet extrusion;

foaming.

February 22 (plastemart) -- A subsidiary of South Korean Lotte Group - KP Chemical, has completed acquisition of UK based PTA and PET plant. Lotte Chemical UK Ltd., the unit of KP Chemical, inked an agreement to buy the Artenius plant in Wilton for 26 bln won (US$22.4 mln). The Artenius plant has capacity to produce 500,000 tpa of purified terephthalic acid and 150,000 tpa of polyethylene terephthalate.

The deal is part of the Korean firm's move to expand its presence in Europe.

MRC

February 22 (plastemart) -- Petrochemical Industries Co. (PIC) plans to build a third olefins plant at an outlay of US$5 bln. The facility is being planned with an estimated production capacity of over 1 mln tpa of ethylene and should be operational in 2015. PIC, a unit of state-owned Kuwait Petroleum Corp., expects to complete plans for the plant this year. PIC's current capacity at olefins I and II is about 1.65 mln tpa of ethylene and its derivatives.

MRC