Petrochemical Industry Market Highlights

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PET Packaging Resin
(View a sample of the PET Packaging Resin Chemical Business Focus)
20 June 2008  Issue Number 140

• Wellman to pursue reorganisation and exit bankruptcy by 25 September
• Sharq IV MEG unit delayed until January 2009 due to ethylene shortage
• Asian June paraxylene contract settled at $1440/ton, an increase of $150/ton
• Asian, June PTA contract set at $1150/ton as spot prices approach $1180-1190/ton
• US Q2 PET increases being resolved on back of delayed paraxylene settlements
• Global PET prices face paraxylene price surge in July

Polyester & Intermediates
(View a sample of the Polyester & Intermediates Chemical Business Focus)
20 June 2008 Issue Number 338

• Wellman to pursue reorganisation and exit bankruptcy by 25 September
• Sharq IV MEG unit delayed until January 2009 due to ethylene shortage
• European March-May PTA contracts settled with virtually full paraxylene pass-through
• Asian, June PTA contract set at $1150/ton as spot prices approach $1180-1190/ton
• Asian polyester fibre sales increase ahead of anticipated price rises
• Global PET packaging resin prices face paraxylene price surge in July

Polyamide & Intermediates
(View a sample of the Polyamide & Intermediates Chemical Business Focus)
19 June 2008 Issue Number 338

• European benzene contract price for June up Euro97/ton to all-time high
• Ammonia drops back from recent peaks to stabilise at $510/ton cfr
• Caprolactam producers see higher costs on sulphur, ammonia and energy
• Major producers reduce adipic production in light of new Chinese capacity
• US polyamide carpet business sees small upturn
• Engineering polymer price rises posted as feedstock cost increases accelerate

Paraxylene
(View a sample of the Paraxylene Chemical Business Focus) 
18 June 2008 Issue Number 354

• North American, June mixed xylenes contract prices up 24-28 c/gal to $3.73-3.82/gal
• Asian June paraxylene contract settled at $1440/ton, an increase of $150/ton
• European June paraxylene contract settled up Euro92/ton on May, at Euro950/ton
• US May and June paraxylene contracts set at 64.25 and 71.25 c/lb respectively
• European March-May PTA contracts settled with virtually full paraxylene pass-through
• Asian, June PTA contract set at $1150/ton as spot prices approach $1180-1190/ton

Phenol • Acetone • Cumene
(View a sample of the Phenol • Acetone • Cumene Chemical Business Focus)
18 June 2008 Issue Number 162

• Phenol producers cut back production to balance market
• Phenolic resin producers prepare for Q3 price increase
• Shell US institutes large acetone buyer monthly contract at 67c/lb
• WE acetone producers announce Euro50-100/ton increase for solvent sector
• Asian producers look for $200/ton increase on phenol and acetone
• BPA market prices generally reflect feedstock surges

Orthoxylene • Phthalic Anhydride
(View a sample of the OX•PA Chemical Business Focus)
17 June 2008 Issue Number 354

• US spot MX prices rise sharply above June contracts
• Increase in US June OX contract lags steep incline in MX pricing
• European orthoxylene consumers accept Euro60/ton increase in June contract
• Freely negotiated European phthalic pricing fails to fully recover OX cost increases
• Pricing in dull US phthalic market hits 70 cents mark
• Domestic and traded phthalic prices in Asia surge upwards

Ethylene Glycol
(View a sample of the Ethylene Glycol Chemical Business Focus)
16 June 2008 Issue Number 241

• Asian MEG spot prices up $100/ton from mid-May to mid-June
• June European MEG price agreed down Euro10/ton at Euro880/ton
• Three MEG producers increase Asian contract prices for July by $60/ton
• Sharq IV MEG unit delayed until January 2009 due to ethylene shortage
• US MEG prices steady for June; to increase 4-5c/lb for July
• Wellman receives extension to 19 June – attempts restructuring

Soda • Chlorine
(View a sample of the Soda Chlorine Chemical Business Focus) 
13 June 2008 Issue Number 328

• More US caustic soda increases are planned with some totalling $180-195/short ton
• Q3 caustic soda price increase announcements in Europe average Euro100-140/ton
• OFT refers Ineos’ sale of its packed chlorine business to the Competition Commission
• REACH gets 5,000 on-line pre-registration entries in the first full week of operation
• V-Tech closes its 110,000 tpa PVC plant at Mizushima in Japan due to declining profits
• Hellenic Petroleum signs agreement to distribute Ineos’ suspension PVC resins in Greece

Styrene
(View a sample of the Styrene Chemical Business Focus)
13 June 2008 Issue Number 543

• Crude oil remains key driver of benzene contract settlements
• European styrene stays firmly in $1600/ton based on costs
• Europe’s polystyrene makers cut rates on thinning margins
• European PS producers in Euro100-120/ton June increases
• Asian ABS prices power up and cross the $2000/ton barrier
• UPR producers in fresh bid to recuperate healthier margins

Acrylonitrile • Acrylic Fibre
(View a sample of the Acrylonitrile • Acrylic Fibre Chemical Business Focus)
11 June 2008 Issue Number 338

• US propylene producers nominate large increases for June, settle at +6 c/lb
• Ammonia drops back from recent peaks to stabilise at $510/ton cfr
• US & European acrylonitrile prices rise under feedstock cost pressure
• West European acrylic fibre market weakness continues as costs rise
• Asian ABS prices power up for a second month – adding over $120/ton
• Acrylic fibre prices rise again in China under feedstock cost pressures

Methanol
(View a sample of the Methanol Chemical Business Focus)
10 June 2008 Issue Number 316

• June USG contract prices edge higher to 155-158 c/gal
• Europe spot prices rise to Euro300/ton in early June
• China methanol prices surge on raw materials, supplies
• Sabic begins test runs on Ar Razi V plant at Al Jubail
• Petronas expects full production at new plant in August
• NYMEX crude oil closes at $138.54/bbl on 6 June

Synthetic Fibres
(View a sample of the Synthetic Fibres Chemical Business Focus)
9 June 2008 Issue Number 286

• US consumer confidence falls for the fifth successive month
• First polyester fibre plant to be built in Vietnam
• Acrylic prices rise in China
• US polyamide carpet business turns up
• Asian polyester sales increase ahead of price rises
• Polypropylene prices hit 10 year high in China

Urethane Chemicals
(View a sample of the Urethane Chemicals Chemical Business Focus)
9 June 2008 Issue Number 151

• BASF brings on stream a new 500 ktpa nitric acid plant in Antwerp
• NPU ready to operate its new 50 ktpa MDI splitter in Zhejiang province, China
• Have TDI prices peaked and MDI bottomed?
• Rigid polyether polyol prices stable and firm but flexible remains subdued
• Rokita will expand its polyols factory from 30 to 100 ktpa
• Huntsman to acquire 70% of PUR Systems

Maleic Anhydride • Acrylic Acid
(View a sample of the Maleic Anhydride • Acrylic Acid Chemical Business Focus)
4 June 2008 Issue Number 206

• China in checks on chemicals in preparation for Olympics
• Chinese MAn offers for June breaking $1600/ton fob mark
• Record n- butane triggers MAn price hike in North America
• June US propylene contracts are nominated at 7.5-8.0 c/lb
• Acrylates producers in global effort to re-establish margins
• Rohm and Haas to build acrylic emulsion plant in Vietnam

Polyethylene China International Business Focus
(View a sample of Polyethylene China International Business Focus )
4 June 2008  Issue Number 006

• Surging crude oil prices drive both polyethylene and EVA in May
• LDPE jumps as Sichuan earthquake jumpstarts demand for coating-grade
• Slow demand keeps LLDPE and blow-moulding grade HDPE steady
• Asia prices up on strong upstream cost push and surging PP
• US producers finally secure 3 c/lb hike in April and hold out for 3 c/lb in May
• Europe LLDPE still holding steady but HDPE and LDPE slide again

Acetic Acid • Vinyl Acetate
(View a sample of the Acetic Acid • VAM Chemical Business Focus)
3 June 2008 Issue Number 249

• US acetyls markets still feeling impact of slow economy
• Q2 Europe acetic acid prices down by at least Euro80/ton
• Acetic acid prices in China increase throughout May
• Global VAM prices weaker in Q2, but Q3 increases possible
• June monthly methanol contracts edge higher in US, Asia
• Soaring energy prices putting pressure on chemical industry

Phthalates • Oxo Alcohols
(View a sample of the Phthalates • Oxo alcohols Chemical Business Focus) 
30 May 2008 Issue Number 317

• Mid-May price hike on US phthalates successfully taken on board
• May sees further erosion in European phthalates pricing
• Domestic and import phthalates prices in China rise sharply
• Monthly price hike postings on US 2-EH continue into June
• Shutdowns and plant problems keep European 2-EH tight
• 2-EH pricing in Asia continues to soar

VCM & PVC
(View a sample of the VCM & PVC Chemical Business Focus)
29 May 2008 Issue Number 333

• Spot EDC shipments from the USA continue through May and June
• NE Asian EDC prices are increasing with $450/ton cfr for July arrivals
• The May spot VCM shipment prices ease to $770-790/ton fob US Gulf
• The May VCM prices in NE Asia increase $50-60 to $950-960/ton cfr
• In NW Europe PVC prices show a small decline for May of Euro5/ton
• China import PVC prices surge to $1190-1200/ton cfr but market weaker

Biodiesel
(View a sample of the Biodiesel Business Focus)
19 Mayl 2008 Issue Number 002

• Global migration to animal feedstocks
• “Double dipping” rumored in the U.S.
• Brazil considering B5 in 2009
• Argentine farmers resume strike
• Europeans formally complain of B99
• Camelina, a non-edible feedstock