Posts Tagged ‘middle-eastern’

Mid-Eastern producers cut July PE prices in Egypt, raise Aug outlook

In Egypt, Middle Eastern producers had approached the PE market at the start of July with lower prices as compared to June offer levels, as per ChemOrbis.

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Egyptian buyers unhappy with new protection fees on homo-PP imports

The Egyptian government implemented a protection fee of 15% on all homo-PP imports effective for 200 days from June 5 to December 22, 2012, as per ChemOrbis. Egyptian PP producer EPPC pointed to strong competition from lower priced import cargoes as support for the new measures, but buyers have expressed anger regarding the new protection measures, which they feel to be unjustified. Egypt?s Chamber of Industry has also protested the new protection fees, arguing that the new measures will hamper the country?s export trade in finished plastic products while adding that EPPC?s production is not large enough to satisfy the market?s needs

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Increased focus on downstream petrochemicals, as Middle East diversifies its economy

The Middle East is seeking a gradual movement away from its dependency on oil and gas production to diversify its economy and create a positive environment for the development of its plastics industry, according to a new report by energy intelligence company GlobalData.

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PP prices move higher after the holidays in SE Asia

In Southeast Asia, both import and local PP prices have moved higher in the first week after the Chinese New Year holidays, as per Chemorbis.

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Softer domestic PP, PE prices put pressure on imports to China

Domestic PP and PE prices are tracking a softening trend inside China as the Chinese economy shows signs of cooling down, while overseas demand remains discouraging and confidence in the global economic outlook weakens, as per ChemOrbis. Softer local prices are exerting downward pressure on imports, calling into question earlier predictions of higher import PP and PE prices for December.

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Leading Indian rigid plastic packaging company to invest in two plants in India and one in Dubai

Moldtek Packaging Ltd., leading Indian rigid plastic packaging company, has finalized expansion plans, at an investment outlay of Rs 40 crore (approx US$9 mln). The plans include: * Two new manufacturing facilities in India by 2012: one in Pune with an initial capacity of 3,000 tpa to be expanded to 4,000 tpa

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