Posts Tagged ‘country’

China?s cumulative imports through May remain under 2009

The strain is beginning to show on China?s plastics imports amid an admitted slowdown in economic growth. Cumulative imports through May 2012 reached a figure of 6.255 mln tons, as per ChemOrbis, below cumulative imports as of May 2011, 2010 and 2009. In May 2009, the cumulative figure had been at 6.956 mln tons.

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SABIC invests in multiwall sheet capacity in India

A state-of-the-art Lexan* multiwall sheet production line will be unveiled at SABIC IP?s Vadodara, India manufacturing facility.

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Solvay inaugurates new centre in India for R&D and Technology

Solvay has inaugurated its new Research, Development and Technology Centre at Savli, Gujarat State, India. The Centre will focus its efforts mainly on the development of high-performance polymers, organic chemistry, nano composites and green chemistry.

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Rapid advancements in Asia, Middle East drive growth in global Ethylene Oxide (EO) Market

The world market for ethylene oxide (EO) is projected to reach 27.3 million tons by 2017, as per Global Industry Analysts, Inc. Growth in the market is mainly spurred by increasing consumption from the Asian and Middle East markets.

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GE collaboration with Braskem Idesa for a high-efficiency Polyethylene Complex

Mexico will significantly reduce the amount of polyethylene it imports for manufacturing, packaging and other industrial applications when its new polyethylene complex featuring GE hyper compressor technology goes online. The Veracruz plant, which brings high-volume, high-efficiency plastics production to the region, is a joint venture between two major petrochemical producers in the Americas, BrazilÂ’s Braskem S.A. and MexicoÂ’s Grupo Idesa.

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Polymer demand in China, Vietnam hit by slower economic growth

Players in both China and Vietnam report that polymer demand in their respective countries has been slowed by weakness in the construction sector and slower than expected economic growth rates, as per Chemorbis. Both traders and converters complained that their sales have dropped significantly when compared with the same period in the past year as a result of the disappointingly sluggish economic environment. According to local media reports, investment in ChinaÂ’s property market is slowing down while sales of new houses are declining as reduced economic growth and government efforts to constrain inflation in the countryÂ’s property sector have reined in construction activity

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PE buyers in SE Asia expect to see softer prices in May

In Southeast Asia, PE players had mixed views in H1-April regarding the outlook for May. Material had been tight for some of the PE products in several of the countries, with some of the local producers working hard to clear backlogs, as per ChemOrbis.

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IDB to boost competitiveness of Mexico?s petrochemical sector with US$600 mln loan to Braskem-Idesa

The Inter-American Development Bank (IDB) has approved a US$300 million A Loan complemented by a syndicated B loan of approximately US$300 million to finance Etileno XXI, MexicoÂ’s biggest private petrochemical project, a Braskem-Idesa joint venture. The loan will be granted to Braskem-Idesa S.A.P.I., a joint venture by BrazilÂ’s Braskem SA and MexicoÂ’s Grupo Idesa, to develop, build and operate an integrated petrochemical complex.

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Players? in SE Asia?s local PE market hold divergent expectations

The past week saw local PE prices stable to firmer in Southeast Asia, amid firm ethylene costs and limited availability, as per ChemOrbis. Expectations are divided as to the outlook for May, as some players predict additional price increases driven by supply concerns while others are skeptical of the feasibility of any further price hikes, as spot naphtha prices continue to dip, while demand in the nearby Chinese market remains disappointing

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Polymer demand cools down ahead of holidays in Thailand

Polymer demand in Thailand, which has been stronger than demand in other Southeast Asian countries for most of the last two months, is beginning cool down following several consecutive local price hikes and with the approach of the Thai New Year holidays next month, as per ChemOrbis. Many distributors report that they are feeling cautious about replenishing their stocks for now given their uncertainty as to how demand will be affected by the upcoming holidays while some converters report that they are starting to feel more comfortable with their stocks these days and are accordingly feeling less pressure to source additional cargoes. In the PP market, an increasing number of players are beginning to describe demand as normal while several distributors are already shifting their focus towards late April and the period after the Thai New Year holidays.

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