Polymerupdate is reporting that Asian prices of acrylonitrile butadiene styrene (ABS) shot higher with CFR Asia assessed at $1935 to $1940/tonne, with many sellers targeting prices at above $2000/tonne CFR.
In polypropylene (PP), Polymerupdate sources say Sabic PP raffia and injection grades offers are at $1700/tonne CIF, with the companys PP film grade at $1720/tonne CIF. Oman PP has also issued higher offers, with PP injection and raffia grades at $1700/tonne CIF, while PP film was at $1730/tonne CIF. Tasnee announced its PP raffia and injection offers are at $1690/tonne CIF, while Reliance Industries pegged its new offers for PP raffia and injection grades at $1700/tonne CIF with 30-day L/C terms. Offers for PP film are at $1715/tonne CIF. Elsewhere in Asia, PP injection and raffia was sold to China at $1710/tonne CFR, with offers up at $1720/tonne CFR, and block copolymer offers at $1730 to $1740/tonne CFR.
In polyethylene (PE), Equate has announced a high-density polyethylene (HDPE) film price of $1660/tonne L/C 60 days, with linear low-density polyethylene (LLDPE) at $1650/tonne L/C 60 days. HDPE injection and blowmolding offers are at $1650/tonne CIF with 60-day L/C terms. Polymerupdate reports that LDPE offers from Petlin are at $1870/tonne CIF with 90-day L/C terms.
In polyethylene terephthalate (PET) pricing, prices are steady but a boost in spot rates is expected going forward. Polymerupdate notes this is the peak season for bottle-grade PET consumption on account of high beverage sales. This demand, coupled with pressure from upstream energy prices, high naphtha rates and limits on PX, PTA, and MEG feedstocks, will drive prices higher.
In Asian plant news, Irans Arya Sasol Polymer Co. issued details on its new low-density polyethylene (LDPE) facility at Assaluyeh. The plant, which has a production capacity of 300,000 tonnes/yr, has already commenced ethylene trial feeds, with manufacturing of spec-grade LDPE forthcoming. Feedstock is provided by a 1-million tonnes/yr ethane-based steam cracker that is owned by the company and situated at the same complex. The cracker is currently at about 50-60% of capacity. Arya Sasol is a 50:50 joint venture between Irans National Petrochemical Co. and South Africas Sasol.
In China, Polymerupdate is reporting that New Continents polyvinyl chloride (PVC) project in Hulunbeir City, Inner Mongolia has completed civil works valued at 60 million yuan and signed equipment contracts worth 148 million yuan. Construction started in mid-May, with the ultimate goal being calcium-carbide capacity of 800,000 tonnes/yr and PVC capacity of 500,000 tonnes/year by 2014. The full project will represent a total investment of around 5 billion yuan.
Toray Plastics ABS plant in Malaysia is running at full production rates, with commercial manufacturing starting in April 2008. The new ABS unit has production capacity of 110,000 tonnes/yr, consisting of a 40,000-tonnes/yr transparent grade ABS line and a 70,000-tonnes/yr general-purpose ABS line. The new unit has been constructed next to the existing ABS plant of Toray Malaysia, which has production capacity of 220,000 tonnes/yr. The combined ABS production capacity will be 330,000 tonnes/yr, with 60-70% of the material destined for export.
Integrated Refinery & Petrochemical Complex Public Co. Ltd. (IRPC) will expand its ABS plant in Rayong province, taking capacity from 96,000 tonnes/yr to 117,000 tonnes/yr. Work, which started last year, is expected to be completed in the first quarter of 2009, with the project now about 70% complete.
In European plastics pricing news, bottle-grade PET contract prices on an FD North West Europe basis were assessed at euro 1295/tonne levels. In spot markets prices were assessed at euro 1110/tonne FD North West Europe levels. In ABS, general-purpose and natural-grade prices were at euro 1730/tonne FD North West Europe, while spot prices were assessed at euro 1415/tonne.
PP contract prices in Europe dipped last week, with homopolymer injection molding grade contract prices at euro 1200/tonne FD North West Europe, while PP copolymer contract prices fell to euro 1250/tonne FD North West Europe. General-purpose polystyrene (GPPS) contract prices were stable at euro 1385/tonne FD North West Europe. High-impact polystyrene (HIPS) contract prices for May were unchanged at euro 1440/tonne FD North West Europe.
LLDPE spot prices crept higher across Europe to euro 1205/tonne FD North West Europe, with contract prices assessed at the euro 1285/tonne FD North West Europe for butene-grade LLDPE. PVC suspension-grade prices were reported at euro 1030/tonne FD North West Europe, with some suppliers pushing for a euro 10/tonne increase over April.