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Friday, April 29, 2011

BASF Announces TDI Increase

Effective May 15, 2011, or as contracts allow, BASF Corporation is raising the price for all Toluene Diisocyanate (TDI) products by a $ 0.10 per pound. This price increase is in addition to the price increases announced earlier.

Enterprise Products Declares Force Majeure on Propylene

Enterprise Products Partners declared force majeure on polymer-grade propylene Wednesday due to feedstock concerns stemming from recent refinery outages in Texas, multiple market sources said.
The declaration could last through May, although no allocations were presently in effect, Enterprise said in an e-mail to customers.
Power outages idled the BP, Marathon, and Valero refineries in Texas City, Texas, on Monday night and early Tuesday morning, triggering a shelter-in-place declaration that lasted through mid-day Tuesday.
At least two refineries -- Valero's and Marathon's -- were reported to be in restart mode as of Tuesday afternoon, but it was unclear when all three would be running at full speeds.
Such uncertainty prompted Enterprise to declare the force majeure, according to sources.
Official confirmation from Enterprise was not immediately available. The Texas City refinery area is a key supplier of refinery-grade propylene to Enterprise's Mont Belvieu, Texas, propylene splitter complex.
Enterprise's declaration could provide further upward pressure to already record-high spot and contract propylene values, as RGP has been in very short supply.
The propylene spot market was reported mum in reaction to the news, with one participant reporting RGP being transacted at 90.75 cents/lb MtB pipe, up .25 from Tuesday's assessment by Platts. 

Exxon Announces Price Increases on IPA and IPE

BP Declares Force Majeure on Acetic Acid

Thursday, April 28, 2011

INEOS Phenol Announces Increase for Acetone

Effective May 9th, 2011, INEOS Phenol will increase the price of Acetone $.0500 per pound.

Thursday, April 21, 2011

JAPAN DISASTER: Chemicals Exports up 6.7% in March

SINGAPORE (ICIS)—Japan’s chemicals exports grew 6.7% year on year to yen (Y) 649.5bn ($7.88bn) in March while overall exports declined for the first time in 16 months, falling 2.2% from a year ago to Y5,866bn, data from the Ministry of Finance showed on Wednesday.
Exports of organic chemicals rose 12.1% year on year to Y194.5bn in March, but plastics exports slipped 1.1% to Y206.5bn, the preliminary trade data showed.
Japanese export volumes of plastic materials fell 5.6% year on year to 610,269 tonnes in March, according to the data.
Meanwhile, exports of motor vehicles slipped 27.8% year on year to Y601.5bn in March, making it the largest contributor to the decline in total exports, according to the data.
The Japanese automobile industry has been affected by the massive earthquake and tsunami that hit the northeast region of the country on 11 March, with automakers struggling to restore pre-quake production levels on the back of power cuts and parts shortages.
All of Japan’s major car production facilities are operating again, but many car factories are running at lower production rates, according to local media reports.
Car giant Toyota has restarted production of all its domestically produced models, while Honda earlier this month restarted limited production at its factories in Sayama and Suzuka.
“While most of our Japan-based suppliers have resumed production, there are a few suppliers that have yet to resolve the challenge to resume their production,” Honda said in a statement.
Meanwhile, overseas shipments of electrical machinery, including semiconductors, tumbled 6.9% year on year to Y1,044bn, according to the data.
Overall imports rose 11.9% year on year to Y5,669bn in March, as the trade balance came to a surplus of Y196.5bn.
Among Japan’s major export destinations, shipments to China rose 3.8% year on year, while shipments to the US fell 3.4%, according to the Ministry of Finance data.
The 11 March natural disasters has killed and left missing more than 27,000 people, according to official police figures. The Japanese government estimated the damage from the disaster may rise to as much $302bn.

OxyChem Announces Increases for Perchloroethylene

OxyChem is increasing off-schedule prices for all grades of PERC for customers in North America.  

Tuesday, April 19, 2011

PPG Announces Force Majeure on Caustic Soda and PELS

Effective immediately , PPG Industries, Inc. is declaring a system-wide force majeure condition for all grades of liquid caustic and PELS beaded caustic soda shipped from its North American chlor-alkali system.

Bayer Announces Price Increases in North America

Effective May 15, 2011 or as contracts allow, Bayer MaterialScience LLC will increase the
prices for the following products for all markets in North America.

· MDI based products $0.10/lb
· TDI based products $0.15/lb
· Polyether Polyol based products $0.15/lb

Your account manager will contact you to discuss these increases. We appreciate your

Dow Announces Price Increase on Polyols


Dear Customer:

Effective May 1, 2011, or as soon thereafter as the applicable contract allows,
The Dow Chemical Company (“Dow”) will increase its price for all grades of
VORANOL™, VORALUX™, and SPECFLEX™ polyols by US$0.10/pound in the
United States. This price increase is in addition to the previously announced
US$0.05/pound price increase effective April 1, 2011.

All other contract terms and conditions remain in full force and effect, and orders
must comply with established monthly sales levels and contract commitments.
Your Dow sales representative will be contacting you in order to answer any
questions you might have and to review your sales plan volumes.

Dow appreciates your business, and we look forward to our continued

Wednesday, April 13, 2011

Huntsman Announces Additional Price Increases

Effective May 1st, 2011, Huntsman will increase list and off-list prices for all grades of Propylene Glycol, Dipropylene Glycol and Tripropylene Glycol.  

Friday, April 8, 2011

Dow Announces Further Increases

The letter details increases starting May 1, 2011 on the following products:
Propylene Oxide (PO) US$0.10/lb
DOW PuraGuard™ PG USP/EP US$0.05/lb
Propylene Glycol Industrial (PGI) US$0.05/lb
Dipropylene Glycol LO+ (DPG LO+) US$0.07/lb
Dipropylene Glycol (DPG) US$0.07/lb
Tripropylene Glycol (TPG) US$0.07/lb
Tripropylene Glycol Acrylate Grade (TPG Ac) US$0.07/lb

Wednesday, April 6, 2011

ExxonMobil Announces Price Increase for MEK

JAPAN DISASTER: Asia Petrochemicals Spike on Japan Cuts

The Latest in Japan: This TDI outage is probably pulling Korean TDI into China and as a consequence spot TDI prices in other regions are moving up and product is short.

Japan's production woes in the wake of the 11 March disaster have nudged up prices of selected petrochemical products in Asia over the past three weeks and will likely continue to influence regional trades going forward, industry sources said on Tuesday.

Widespread damage to logistics infrastructure in the northeastern part of the country, and the consequent shortage of electricity as Japan grapples with a nuclear crisis in quake-hit Fukushima prevents domestic industrial plants, including petrochemical facilities, from running at full tilt.

Supply from Japan has been falling and regional demand is being beefed up as the country needed to compete for imported material, creating strong upward pressure on product prices. Most petrochemical plants in Kashima, which was near the epicentre of the 9.0-magnitude quake that triggered a massive tsunami, have remained shut, while others in the surrounding areas are gradually restarting operations.

In the butadiene (BD) space, April shipments from Japan had to be delayed or cancelled, compounding the tight supply of the product globally, market sources said. Spot BD prices increased by an average of $200/tonne or 7.8% since 11 March to $2,750-2,800/tonne CFR NE Asia on 1 April, according to ICIS data.

Price pressures were also strong in Asia's toluene di-isocyanate (TDI) market, with Mitsui Chemical's 120,000 tonne/year Kashima facility still not on line to serve the Chinese market, industry sources said.

The Kashima TDI plant will remain down until June, as the company preferred to keep the unit closed until after a scheduled maintenance.

TDI contract prices for April were expected to settle higher than the March contracts, which were mostly set at $2,600/tonne CFR CMP/Hong Kong by BASF and Mitsui Chemicals, market players said.

BASF has been seen offering April TDI contract at $2,750/tonne CFR CMP/Hong Kong early last week, they said. In the mono propylene glycol (MPG) market, meanwhile, Japan began competing for imported cargoes, exerting strong pressure for prices to move up, market sources said.

With the rolling blackouts in place in Japan, domestic MPG production could not satiate demand, they said. MPG pharmaceutical grade (PG USP) drummed values surged by an average $115/tonne or 5.5% over the past three weeks to $2,075/tonne CFR NE Asia, with southeast Asian prices tailing closely at an average of $2,025/tonne CFR SE Asia, according to ICIS.

Some Japanese buyers were heard willing to pay more than $2,300/tonne CFR NE Asia, desperate to secure cargoes to keep their downstream manufacturing facilities running, market sources said.

Others were even trying to procure supply from China through traders, they said. Deals for US-origin cargoes were heard at $2,050/tonne CFR NE Asia and cargoes from Korea were concluded at $2,100/tonne CFR NE Asia. Selling ideas for MPG were raised to $2,100-2,220/tonne CFR NE Asia, market sources said.

Japan was also seen making spot purchases in the Asian phenol market, changing its role from a net exporter of the material. Spot phenol prices jumped by an average $90/tonne or 4.9% over the past three weeks to $1,915/tonne CFR China Main Port (CMP), according to ICIS.

Mitsubishi Chemical, a major producer in the country, has yet to restart its phenol/acetone plant in Kashima. The plant can produce 250,000 tonnes/year of phenol and 150,000 tonnes/year of acetone.

In the Asian paraxylene (PX) market, in which Japan is a major supplier, prices spiralled by as much as $145/tonne three days after the earthquake (based on average daily prices) that shut three PX plants – one in Kawasaki and two in Kashima – owned by JX Nippon Oil.

But prices started to correct as traders said the price spikes had been overdone and supply was not too tight to warrant the sharp increase in prices.
Spot PX prices averaged $1,635/tonne CFR Taiwan on Monday, down 2.1% from 11 March, according to ICIS.

JX Nippon Oil's 350,000 tonne/year plant in Kawasaki had restarted, while the two units in Kashima with a combined capacity of 600,000 tonnes/year remained shut.

Meanwhile, spot prices for isomer grade xylene (isomer MX) surged by an average of $195/tonne or 17.8% since 11 March to $1,290/tonne FOB Korea on 4 April as Japan's production of the PX feedstock was severely disrupted, according to ICIS. Over the past two weeks, JX Nippon Oil snapped up at least 35,000 tonnes of isomer MX for April delivery and the company is expected to continue absorbing spot material in May, according to traders.

Japan continues to battle a nuclear crisis at its Fukushima Daiichi facility but is enjoying a brief reprieve on Tuesday (5 April) from blackouts of up to three hours that have been in effect since 14 March.

Forecast electricity demand for Tuesday is 35,000 megawatts (MW) against an estimated supply of 40,000 MW, according to Tokyo Electric Power Co (TEPCO), operator of the quake-ravaged Fukushima Daiichi nuclear plant.

Tuesday, April 5, 2011

Shell - Acetone Price Change Announcement

Effective April 15th, Shell Chemical LP will increase the price of Acetone to the Solvents and Distribution market.

Friday, April 1, 2011

BASF - Amines Increase for April 15th

BASF announces Amines increases effective April 15, 2011.