Rising crude oil prices have given a boost to polyethylene spot prices

(ICIS) -- Rising crude oil prices have given a boost to polyethylene (PE) spot prices globally, but ample inventories in Latin America and subdued demand in China could make March export price hikes more difficult for US producers, sources said on Friday. Some traders with unsold cargo already on the water are having to make aggressive offers in the region, the source added.


Another trader said China buyers remained very quiet, and as a result, Asian manufacturers were trying to sell more material outside Asia. The second trader said buyers were reacting to the crude oil market and paying slightly higher prices for material than 7-10 days ago.


A US producer was considering price increases of 3-4 cents/lb ($66-88/tonne, ┬48-63/tonne) for March cargoes, a source said. US high-density PE (HDPE) blow-moulding grade for export was at 58-61 cents/lb FOB (free on board) US Gulf in bags, as assessed by ICIS. Linear low-density PE (LLDPE) butene film was at 65-66 cents/lb FOB US Gulf in bags.


MRC

Technical textile maker SRF Ltd plans to invest Rs 665 crore on expansion projects

(The Economic Times) -- Technical textile maker SRF Ltd plans to invest Rs 665 crore on expansion projects, which includes a new plant in South Africa and another in Gujarat.


The new plant in South Africa, which will be its second overseas units, will have an annual capacity of 25,000 tonnes. It is being set at a total investment of around Rs 250 crore and is expected to start commercial production in July 2013. The new South African plant will also mark SRF's maiden entry into the Biaxially Oriented Polypropylene (BOPP) space.


Earlier in October 2010, the board had approved a joint venture to set up a Bi-axially Oriented Poly Ethylene Terephthalate (BOPET) film plant of 28,500 MT per annum in Bangladesh.


The company has also obtained board approval to set up its second HFC-134a (an ozone friendly refrigerant) plant with an annual capacity of 15,000 tonnes in its chemical complex in Dahej in Gujarat. The project is expected to be commissioned at an estimated cost of Rs 365 crore. The capacity of the second HFC-134a plant is much higher than the company's existing 5,000 tonne capacity plant in Bhiwadi.


MRC

INVISTA new nylon 6,6 intermediates and polymer plant in China

(INVISTA) -- INVISTA, a world leader in nylon intermediates and fibers, announced that it is moving forward on its plans to construct a manufacturing facility at the Shanghai Chemical Industry Park in China to meet the region's demand for nylon 6,6 intermediates and polymer.


The company is currently engaged in project engineering, which will include an environmental impact assessment to be completed by the end of 2011. INVISTA expects to begin construction of the plant in 2012 and commence production in phases beginning in 2014. When the new plant is complete, it will be the most energy efficient and technologically advanced nylon intermediates plant in the world, underscoring INVISTA's continuing focus on improving energy efficiency and developing innovative technologies.


INVISTA is one of the world's largest integrated producers of polymers and fibers, primarily for nylon, spandex and polyester applications, a business presence in over 20 countries.


MRC

Rochling Group's automotive business will build its seventh U.S. manufacturing site

(Plastics Today) -- Rochling Group's (Mannheim, Germany) automotive business will build its seventh U.S. manufacturing site in Akron, OH to support customers Ford Motor Co. and General Motors. Investing "double-digit millions" in the plant, Rochling says the finished campus will include production and storage facilities covering a total of 75,000 ft2. The city of Akron assisted Rochling in site selection, with the new business to be constructed near the Akron Fulton International Airport in the Massillon Road Industrial Park.


Rochling Automotive USA, which has headquarters in Duncan, SC, says it plans to operate the new Ohio facility as a strictly manufacturing location with a lean organizational structure.


Rochling currently supplies systems used by the Chevrolet Cruze Eco and the Ford Focus to reduce fuel consumption and carbon dioxide emissions. Once local vehicle production is boosted in 2013, Rochling anticipates that its new facility will employ over 100.


Rochling is planning a new production line for engine and body undershields, including injection molding machines. The presses will also be molding grill shutter systems, a new technology used to improve the aerodynamic properties and heat management and control of vehicles. The company has 55 locations worldwide, with sales exceeding $1.3 billion.


MRC

The Russian producers increased HDPE output in January

MOSCOW (MRC) -- In January Russian producers increased high-density polyethylene (HDPE) production to 78 KT, according to MRC ScanPlast.


In December 2010 this index made 64.4 KT. The previous record was reached in August 2010, when Russian producers managed to produce 84 KT of HDPE.


During January 2011 almost all Russian producers had been working with permanent utilization of capacities.


In mid-January Nizhnekamskneftechem restarted HDPE production. Gazprom neftechem Salavat increased output to 7.8 KT which had made a record since the moment of a launch. Insignificant increase of output has been marked at Kazanorhsyntez. HDPE output at Stavrolen remained almost at the level of Decemebr.


mrcplast.com