By Malini Hariharan India’s long-running investigation into dumping of polypropylene (PP) from Saudi Arabia, Singapore and Oman is inching to a close. Final anti-dumping duties (ADD) are expected to be announced soon, say industry sources. Affected producers have made their case but are unlikely to escape from ADD. Provisional duties, ranging from $44.40 to $1033.65/tonne, […]
Asian Chemical Connections
Old Assumptions Might Belatedly Change
Source of picture: http://www.andrewgriffithsblog.com/ By John Richardson DOOM-MONGERS are scratching their heads as to why the global petrochemicals industry has remained in such a healthy state over the past 18 months. Old assumptions are, as a result, being challenged. It would be a painful irony if these assumptions are changed just as a […]
Action in the propylene market
By Malini Hariharan Just when Asian propylene prices started easing comes news of disruptions in production and price hikes in the West. Propylene availability in Europe was hit after a strike by Total’s refinery workers early in the week resulted in the closure of 36% of France’s C3 capacity. This forced Total to declare force […]
Optimism as China returns
By Malini Hariharan The China market appears to have started the year of the tiger on a strong note. We are not yet hearing a roar but at least it is not a whimper. Pic source: Xinhua A polyolefin market participant says that traders have started making enquiries after the Lunar New Year holidays. End-users […]
India to investigate PP imports from Korea, Taiwan and the US
By Malini Hariharan India will soon initiate an anti-dumping investigation into polypropylene (PP) imports from South Korea, Taiwan and the US. This follows an application made by Indian PP producers last year. A couple of market sources have forwarded the letter that has been issued to the embassies of the three countries and a government […]
Is China Targeting Polyolefin Re-export Market?
By John Richardson MORE evidence that China will not remain as easy a sink for surplus polyolefin volumes – especially in the case of the higher-cost importers – is emerging. “There are plans to open a bonded warehouse in Guangdong province to sell RMB material converted into US dollar product,” a Singapore-based polyolefin trader told me […]
SK moving to China?
South Korean producers have for long been dependent on the Chinese market to absorb a large percentage of their output. So it is perhaps not surprising to read that SK Energy plans to move the headquarters of its chemicals division to China. It is also said to be looking at hiving off the chemicals business […]
China PVC Capacity Binge Clobbers Northeast Asia
By John Richardson CHINA’S capacity expansions in industries including steel, aluminium and petrochemicals continue to astound. Take polyvinyl chloride (PVC) for example., where, according to a new report by ChemSystems, “capacity (in China) has expanded from 5m tonne/year in 2003 to over 15m tonne/year in 2009, almost 90 percent of total global capacity expansion over […]
Polymers start the year on a robust note, but how long will it last?
By Malini Hariharan and John Richardson Expect the unexpected and you probably stand a good chance of making money in the polymer market. Defying expectations of a slowdown in demand ahead of the Chinese new year in February markets have started 2010 with a bang – material is short and prices are steadily moving up. […]
Korea’s Kumho faces heavy dose of restructuring
By Malini Hariharan The financially troubled Kumho Asiana group, with assets stretching from petrochemicals to airlines, has finally been able to work out a plan that should satisfy its creditors. The Korea Herald reports that the group plans to raise $1.13bn by selling assets as part of a restructuring programme. Kumho Tire and Kumho Industrial […]
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