Polymerupdate.com Global Plastics Pricing Briefs 2736

Polymerupdate.com is reporting that Japan Polyethylene is to become a subsidiary of Mitsubishi Chemical Holdings on March 4. Japan Polyethylene is currently owned by Japan Polychem (50%), Japan Polyolefin (42%), and Mitsubishi Shoji Plastics Corp. (8%). Japan Polychem, which is a wholly owned subsidiary of Mitsubishi Chemical Holdings, is purchasing Mitsubishi Shoji Plastics 8% stake. Japan Polyolefin is divided between Showa Denko (65%) and Nippon Oil (35%). The company has total low-density polyethylene (LDPE) production capacity of 345,000 tonnes/yr, linear low-density (LLDPE) capacity of 363,000 tonnes/yr, and high-density polyethylene (HDPE) production capacity of 475,000 tonnes/yr. In pricing news, spot prices of polyethylene terephthalate (PET) bottle grade have drifted lower with FOB Asian rates at $1320 to $1330/tonne.

In Middle East news, Polymerupdate.com says polypropylene (PP) production at Petrochemical Industries Co. (PIC) had resumed in full, following a restart earlier this week. The 120,000 tonne/yr PP plant in Shuaiba, Kuwait had been shutdown for maintenance since Dec. 22, coinciding with a maintenance turnaround at PIC’s propylene feedstock supplier Kuwait National Petroleum Co.’s (KNPC) plant.

European PET contract prices last week were unchanged from the week before. While PET bottle-grade prices were at euro 1315/tonne FD North West Europe levels. PET film-grade contract prices were at the euro 1290/tonne FD north West Europe levels.

In polystyrene (PS), general-purpose PS contract prices were also flat at euro 1380/tonne FD North West Europe levels. Although unchanged, those prices were up from January levels. High-impact PS contract prices were at euro 1425/tonne FD North West Europe levels, also unchanged, but up over January levels by about euro 20/tonne. General-purpose and natural-grade contract prices of acrylonitrile butadiene styrene (ABS) were at the euro 1680/tonne FD North West Europe levels. Spot markets prices were assessed at euro 1370/tonne FD North West Europe levels. In HDPE for injection, blowmolding, and film, contract prices were steady at euro 1310/tonne FD North West Europe levels, euro 1370/tonne FD North West Europe levels, and euro 1360/tonne FD North West Europe levels, with spot prices down. Contract LDPE prices quoted steady at euro 1355/tonne FD North West Europe for general-purpose grades. Spot prices were down to euro 1270/tonne FD North West Europe levels.

Polymerupdate learned that Ineos Polyolefins declared a force majeure at its HDPE unit in Lillo, Belgium. Specifically, the issue was with the Lillo 2 facility, which has a capacity of more than 250,000 tonnes/yr. No word on how long the situation would remain. In Germany, Borealis is in the process of restarting its 220,000 tonne/yr PP plant in Burghausen. The plant went down on Feb. 4 due to technical issues, but these problems have been corrected, and Polymerupdate reports that Borealis’ other 330,000 tonne/yr PP unit at Burghausen is running smoothly.