By Malini Hariharan Asian paraxylene (PX) and purified terephthalic acid (PTA) markets have started 2012 on a contentious note that is likely to be repeated for the rest of the year. The January Asian Contract Price (ACP) for PX is in disarray with major producers and buyers unable to agree on a number. Only ExxonMobil […]
Asian Chemical Connections
Middle East builds downstream
By Malini Hariharan After years of making money in basic petrochemicals the Middle East focus has firmly shifted to downstream chemicals, a topic that is being discussed in great detail at this year’s GPCA forum being held in Dubai on 13-15 December. As highlighted by the blog in previous posts a combination of factors including […]
India growth slides to two-year low
By Malini Hariharan Economic data from India continues to disappoint. The economy grew at only 6.9% for the quarter ended September, the weakest pace in more than two years and below forecasts. Activity in the manufacturing sector slowed sharply as a result of high interest rates. The segment, which accounts for around 16% of the […]
A quick recovery for butadiene
By Malini Hariharan Asian butadiene prices are once again on their way up, rising over 20% in the last two weeks. Prices last week were at $1,900/tonne cfr Northeast Asia, up from a low of $1,500-1,600/tonne cfr Northeast Asia in the week ending 11 November, reports ICIS news. And offers have crossed the $2,000 mark […]
Fresh US sanctions to target Iran petchems
By Malini Hariharan The US is looking to introduce fresh measures targeted at the petrochemicals industry. The specifics of the new sanctions are not yet available but the goal, says this report, is to bar foreign companies from doing business with Iran’s petrochemical industry by threatening them with being banned from U.S. markets. US companies […]
India PO demand set to decline
By Malini Hariharan The last two weeks has seen a recovery in Indian polyolefins demand led by developments in China. Prices of PE and PP have risen sharply and traders expect the uptrend to continue for the next couple of weeks as converters need to rebuild depleted inventories. But unless buying can be sustained in […]
India to export more benzene
By Malini Hariharan Indian exports of benzene are set to rise over the next few years as new plants start up. “India will remain in a net surplus position over the next five years and exports will continue, with [benzene] from western India moving to the Middle East, the US and Europe, and benzene from […]
Polyester still booming
By Malini Hariharan The blog has been listening to some interesting presentations on the polyester chain at the Indian Petrochem – 2011 conference in Mumbai. The global economic slowdown does not appear to have dampened prospects for polyester demand. “Demand for polyester grew by 5.6m tonnes last year which was atypical; we all thought that […]
Restocking lifts polyolefins prices
By Malini Hariharan Polyolefins prices in the key China markets inched up last week thanks to an uptick in buying activity. Prices of high-density polyethylene (HDPE) blow moulding and film grades moved up $20/tonne while linear-low density PE prices were up $30/tonne, reports ICIS pricing. Polypropylene prices were also up $10-20/tonne However, opinion continues to […]
A question of balance
By Malini Hariharan It is not surprising to read that at a time when many producers around the world are cutting production, cost-advantaged producers in the Middle East will be maintaining operations at their polyethylene (PE) and polypropylene (PP) plants. Producers in the region with access to cheap feedstockts are expected to run their plants […]
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