is a global distribution & trading company in plastic raw materials with offices and operations in Europe, Middle East, Africa and Asia. The network structure enables each individual branch to operate in line with the latest short-term trends within world and regional markets.
NCT's strategy is to generate added value to the chain between producers and end-users of commodity polymers. NCT is an ISO Certified Company who trades in polyolefin’s, polystyrene, pet, pvc and other plastic raw materials.
In the Egyptian and Turkish PE markets, converters and traders have started to receive August offers from Middle Eastern suppliers this week. Facing considerable downward pressure from Asian PE markets, the new offers for Middle Eastern HDPE and LLDPE were announced with decreases to these countries. Unsatisfactory demand stemming from buyers’ anticipations of further price declines in August was cited as the main factor behind producers’ price cuts. In Egypt, where Middle Eastern origins had been carrying a significant premium when compared with the lower July offers given from Middle Eastern sellers to China, producers announced their August PE prices with additional decreases on top of this month’s total decreases of $30-80/ton.
Daqing Refining plans turnaround at China complex from 17 Aug
Japan’s Mitsui restarts Osaka cracker, eyes full op rate
MRPL’s India PP project delayed due to land dispute
Sinopec, Ineos CEOs to Discuss Opportunities for Growth and Cooperation at International Chemical Co
on 27-07-2010 10:40
source: Plastic News (27/7)
Ineos CEO Tom Crotty will join Sinopec President Wang Tianpu and ShenHua Co. General Manager Zhang Yuzhuo on the podium at the inaugural China Petroleum and Chemical International Conference (CPCIC) taking place 15-17 September 2010 at the Shangri La Pudong in Shanghai. The CPCIC is the first in a series of international events, bringing together top-level chemical company executives from global and Chinese companies in dialogue as the axis of chemical activity moves east.
Mr. Crotty will highlight the opportunities for co-operation between international and Chinese companies to drive growth in this evolving competitive landscape in the chemical industry. Mr. Wang will explore the opportunities in the chemical industry following a period of re-structuring in China that has produced a crop of companies that are emerging as leaders in the global industry.
Other speakers at this prestigious event include Zhang Yuzhuo, General Manager, ShenHua Co; Wang Fucheng, Deputy General Manager, PetroChina; Zhou Shouwei, deputy general manager, CNOOC; Craig Rogerson, CEO, Chemtura; Yu Dahai, President, Evonik (China) Holding Co; Michael Koenig, President of Bayer Group Greater China; Shen Hao, President, Yanchang Petroleum Group. The conference also features senior management speakers from DuPont Greater China, and Mitsui Chemicals.
Jointly organized by the Chinese Petroleum and Chemical Industry Federation (CPCIF) and Chemical Week, this is the first-ever conference to tackle both international and local issues that impact the Chinese market. The event will take place in conjunction with the 2010 ICIF Trade Fair and the 2010 World Expo in Shanghai, and is expected to attract more than 400 leaders and senior executives of chemical and related companies, as well as Chinese government officials.
Close to 400 thought leaders from across the industry, inside and outside China will use the conference as a vital platform to understand the issues and opportunities in China and beyond. Top Chinese officials will give delegates and attendees timely information on the government's policies and intentions for the industry in the coming years. Industry leaders from around the world will give delegates takeaways for harnessing massive opportunities in China.
"We are excited to be hosting this event for the first time," says Pang Guanglian, Director and Senior Economist, CPCIF, "including some important presenters from across key sectors of the industry and China."
Asian PP buyers return to the market as upstream costs rise
In Asia, the recent upward swings observed in crude oil and spot propylene prices have driven PP buyers to return to the market to make fresh purchases. While sellers acknowledged that they are seeing better demand at the start of the week, sellers remained cautious in their optimism as they remain skeptical of the medium term outlook for the market.Crude oil futures on the NYMEX gained $2.44/barrel over the past week to settle slightly below their intra-week high at $78.98/barrel on Friday, with most of the rise in crude oil price occurring towards the end of the week. Along with the rise in crude oil prices, spot naphtha prices on a CFR Japan basis gained $38/ton over the past week, with most of the increases once again occurring towards the end of the trading week. Rising energy costs combined with renewed supply concerns following outages at Samsung Total’s petrochemical complex in Daesan and Formosa’s cracker in Mailiao led to a rally in the spot propylene market, with prices jumping $30/ton on FOB Korea basis over the past two trading days. While the outage at Samsung’s facility is expected to be resolved quickly, Formosa has announced plans of reducing the operating rates of its PP plants by 30% after a second fire broke out at the Mailiao facility over the weekend.
Better prices in Europe tempt ethylene from Middle East, US away from Asia
on 26-07-2010 13:02
source: Plastemart (26/7)
Better prices for ethylene in Europe are luring Middle Eastern and US cargoes away from Asia. As per Platts, South East Asian ethylene spot prices have stayed flat at US$797/mt CFR in the past week, while North Western Europe prices were at US$944/mt CIF. There is no demand for ethylene in Southeast Asia, as the region remains oversupplied with Middle Eastern cargoes. Marubeni is reported to have sold 4,500 tons of ethylene from Rabigh, Saudi Arabia, for early July loading to a destination in Europe. Western trader Centrotrade has also fixed a 4,500 tons of spot cargo from Bandar Imam Khomeini, Iran, for early-August loading to Europe. Mitsubishi has sold 6,000-7,000 tons of spot ethylene from Houston to Europe for loading July 26-28. Another 4,500 ton spot cargo was heard to be available from Iran's Bandar Imam Khomeini for end-July loading. Normally, spot cargoes from the Middle East are sold to Southeast Asia due to better logistics such as storage tanks and discharging terminals, while some end-users in Europe do not have logistics to take the large-sized (5,000-6,000 ton) Middle Eastern cargoes.
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