By Malini Hariharan If you are trying to find an explanation for the recent price movement in Asian polyolefin markets, a report in today’s Wall Street Journal offers some clues. China, says the report, has been eating into some of its reserves resulting in a decline in prices of commodities such as refined copper, iron […]
Asian Chemical Connections
Will crude oil revive PE markets?
By Malini Hariharan Has the steady increase in crude oil prices last week prompted Chinese buyers to resume purchases? That is what a Shanghai-based distributor of Middle East product is hoping. And it is the only explanation that he can find for concluding a sale of nearly 10,000 tonnes of polyethylene (PE) yesterday. After weeks […]
China Re-exports Large Volumes Of PE To Latin America
Heading for the high jump Source of picture: www.commons.wikemedia.,org By John Richardson CHINA’S polyethylene (PE) market looks as if it has gone a little pear-shaped as a result of high inventory levels and buyers anticipating the long-awaited flood of new supplies. Further factors are labour shortages affecting processors and manufacturers and anxiety over […]
Liveris on the chemical cycle, Dow’s asset-light strategy and Ras Tanura
By Malini Hariharan I have been reading a transcript of Dow Chemical’s Q4 2009 earnings call and here are some interesting comments made by Andrew Liveris, the company’s ceo. Despite recording revenue and volume growth in 2009 Liveris was cautious on the outlook for 2010 citing an uncertain economic environment. But constraints in Middle East […]
Is it time for price corrections?
By Malini Hariharan After experiencing steep price hikes over the last few weeks should seller start preparing for a fall? Signs of resistance and a slowdown in buying are being seen across a few products suggesting that price corrections may be imminent. ICIS news reports today that the price rally in PE and PP in […]
Some more surprises for polyolefins
By Malini Hariharan The Wednesday post on this blog highlighted some of the unexpected turns that the Asian polyolefins market has been taking. There have been more developments over the last two days that are likely to influence markets in the short term. • ICIS news reports that Sabic will significantly cut its January and […]
No option but to bet on China
By Malini Hariharan Even as market players celebrate the finish of what has been an unexpectedly good year there are not many who expect a repeat performance. A key concern is Chinese demand which saved the industry in 2009. A massive government stimulus package boosted domestic consumption and imports of a wide range of petrochemicals. […]
Asian PE, PP face a weak start to 2010
Polyethylene (PE) and polypropylene (PP) producers expect trade to pick up only from the second quarter of 2010 when restocking activity will resume, writes our colleague Bee Lin. Chinese importers are unlikely to build stocks before the Lunar New Year holidays which are in February. Operating rates at plastic units would also be low during […]
The latest on Mab Ta Phut
By Malini Hariharan There is some good news for chemical companies affected by the Map Ta Phut crisis. The Thai cabinet will ask the Administrative Court to remove 19 projects from the list of 65 projects that had been ordered to stop work. PTT’s No 6 gas separation project and PTT Chemical’s phenol and polyethylene […]
Philippines cracker – revival of an epic saga
By Malini Hariharan Some projects never die. JG Summit has been planning a cracker since 1995 but has always had problems in securing funding. The project was revived in 2005 even as questions were raised about its viability. It would help JG Summit secure feedstock for its polyethylene and polypropylene plants, but how would it […]
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