Posts Tagged ‘year’

Polyplex to invest US$150 mln in Turkey

Polyplex Corp Ltd. (PPC), Indian manufacturer of polyester film plans to build a US$150 mln plastics plant in Turkey and plans another investment of US$500 mln within 5-8 years to produce 600,000 tpa feedstock polyethylene terephthalate, as per Bloomberg. The plant will have exports of US$1 billion a year, Kapil Gupta, senior vice president for the company and will start operations within two to three years

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Manjushree Technopack closes registers growth of over 30% in PAT for fifth consecutive year

Bangalore based Manjushree Technopack Ltd, leaders in rigid plastic packaging in the country, announced their annual results for financial year ending March 31, 2012.

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Rise in China’s plastics consumption in 2012 insufficient to melt regional supply glut

China’s consumption of plastic could grow by up to 7% in 2012 after stalling in 2011, but the rebound will not be enough to melt a regional supply glut that will curb the output of plastic manufacturers and pressure the petrochemical market, as per Reuters. Weak traditional export markets and Bejing’s steps to cool economic growth are still hitting sales. As a result, Asian plastic exporters face possibility of scaling back production further this year, in turn cutting demand for naphtha.

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Chinese players share their outlook on the year ahead

Players in ChinaÂ’s polymer markets are expressing mixed forecasts for 2012. While there is general agreement that upstream costs will continue to support polymer prices, players hold divergent opinions about the macroeconomic outlook, as per ChemOrbis

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2012 outlook for petrochemicals in Taiwan to be dim

The outlook for Taiwan’s petrochemical and basic metal sectors next year will be dimmer than for other sectors, a Ministry of Economic Affairs (MOEA) official is reported in CNA. Most manufacturers expect to hit bottom in Q1-2012, but the petrochemical and basic metal sectors could continue to struggle into the second half of the year, as per a survey. This can be attributed to a large dependence on exports to China

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Sluggish demand exerts downward pressure on PE prices in SE Asia

Players in Southeast AsiaÂ’s PE market reported that prices are facing downward pressure from sluggish demand and that most done deals are being concluded with discounts from sellersÂ’ initial price levels, as per ChemOrbis.

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Chinese PE players weigh likely impact of Iran sanctions

Players in ChinaÂ’s PE markets are evaluating the likely impact of the latest round of Western sanctions on Iran as they formulate their business plans going forward, as per ChemOrbis. Most Chinese players predicted that the sanctions would not have a drastic effect on their business in the short term while adding that the sanctions may introduce significant changes into the structure of ChinaÂ’s polymer trade going forward

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European plastics and rubber machinery manufacturers set to reach all-time high again

The European plastics and rubber machinery industry achieved remarkable rates of growth in 2010 and 2011 and is on course to match the 2008 record. “Our industry recovered very well from the economic and financial crisis in the countries associated with EUROMAP; this year’s production volume in the core machinery business is expected to reach almost 11 billion Euro,” said Bernhard Merki, the European federation’s newly re-elected President at the press conference, held on the occasion of the triennial General Assembly.

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Growing flood concerns dampen demand in Thailand

Thailand is facing its worst floods in 50 years, as per ChemOrbis. Floods have affected much of the countryÂ’s north, northeast and central regions

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Turkish LDPE falls, nears par with HDPE

TurkeyÂ’s domestic producer Petkim lowered their LDPE prices for the second time in September this week, bringing the companyÂ’s new LDPE prices close to par with their HDPE prices, which have not been changed since August 1 as per the plastics pricing service ChemOrbis.

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