Korea

Feb 7th, 2017

LG Chem Launches the Production of a New Ethylene Vinyl Acetate Brand

A Korean petrochemical corporation LG Chem has put into full production a new brand of ethylene vinyl acetate (EVA) intended for the manufacturing of adhesive composite materials. A unique brand is a part of the growth policy of the company accepted in 2015 which is aimed at the ramping up of the production range of...

May 16th, 2011

PET Prices Decline in Europe and Asia

Global PET prices have been losing ground in markets including Italy and China on the back of the weaker buying interest as well as the softer upstream costs, as per Chemorbis. In Europe, May MEG contract prices indicate a decrease of €66/ton (US$94/ton) compared to April settlement mainly due to the higher euro/dollar parity. Meanwhile,...

May 10th, 2011

Asian PS Sellers Maintain Firm Stance After Last Week’s Upstream Reversal

Asian PS sellers have recently held firm on their prices despite the significant declines witnessed in upstream markets late last week, as per Chemorbis. Regional producers brushed off this slump in upstream costs as only temporary while electing to leave prices unchanged after PS prices had risen along with styrene feedstock costs earlier in the...

Jan 26th, 2011

South Korean Tongsuh to Start Up ACN Plant at Ulsan

South Korean Tongsuh Petrochemical will start up a new ACN plant at Ulsan by the end of 2012, said sources. The new ACN plant will have a capacity of 250,000 tons/year and it will be built along the company’s 70,000 tons/year No 2 and 230,000 tons/year No 3 plants at Ulsan. The ACN output from the...

Jan 26th, 2011

S Korea Buys 2000 MT Copper at Lower Premium

Asia’s third biggest buyer of copper, South Korea was able to buy copper at a lower premium than its purchase for the previous week, suggested news reports. The purchase to the tune of 2000 metric tons of copper from Chile was reported by Bloomberg. Public Procurement Service, the agency entrusted with maintaining of strategic reserves of commodities...

Jan 24th, 2011

Benzene-naphtha Spread in Asia Peaks to 9 Month Highs

Benzene-naphtha spread in Asia has peaked to a nine-month high on Thursday to US$265.75/mt, as prices for the aromatic surged to a 28 month high on Wednesday, Platts data showed. The spread is the widest since levels seen on April 7 at US$267.50/mt. The surge in Asian benzene prices is the result of strong prompt...

Jan 20th, 2011

Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia

CRUDE OIL In the week of January 17, 2011, benchmark oil for February delivery settled at US$91.5 on the Nymex, rising after government reports suggested that the US economy is gaining strength. It is reported that in USA, retail sales and industrial production rose last month. As per another report by the US Labour Department, consumer...

Jan 14th, 2011

South Korean Producer Pronounces Feb PE Sell Idea to China

A South Korean producer reported announcing their February sell idea for LLDPE c4 film and HDPE film to China with increases. The producer’s LLDPE film sell idea stands at $1500/ton on CFR China, subject to 6.5% customs duty, cash basis, $100/ton above their most recent January done deals. Meanwhile, the producer’s sell idea for HDPE film...

Jan 13th, 2011

Global Producer Reveals February PP Offers to China

A global producer announced its February PP offers to China. The producer’s new offers indicate increases compared to its January prices in line with the higher upstream costs. The producer reported raising its South Korean PP random copolymer injection offers by $10/ton from its January levels to $1640/ton on CFR China, subject to 6% customs duty,...

Jan 6th, 2011

Spot PET Prices End the Year on a Rising Trend as Demand Picks Up in Asia

In Asia, spot PET prices ended the year on a rising trend, with most predicting that prices will continue to firm up in the days ahead, as per Chemorbis. In addition to finding support from stronger upstream costs, PET sellers are also reporting improved demand inside Asia as beverage manufacturers within the region began ramping...

Jan 6th, 2011

China Lifts Duty on OX, Paraxylene, Isomer-mixed Xylenes From Taiwan

Effective January 1, 2010, the Chinese government is to lift duty on OX and other xylenes — paraxylene and isomer-mixed xylenes — produced in Taiwan. Removal of import duty on orthoxylene from Taiwan will seriously undermine the “competitiveness” of South Korean producers, as per Platts. India’s Reliance Industries Ltd, which exports an average of 8,000-10,000...

Nov 4th, 2010

Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia

CRUDE OIL Yo-yoing oil prices have ended the week of November 1, 2010 a tad higher than last week. Oil for December delivery rose to US$81.96 on the Nymex, while Brent crude for December settlement rose to US$83.36 a barrel on ICE Futures Europe exchange. Speculations of another round of credit-easing measures by the US Federal...

Nov 1st, 2010

Price Trends of Oil, Polymer Feedstock and Commodity Polymers in Asia

CRUDE OIL Crude oil prices have moved up to end the week of October 25, 2010 at US$81.7 on the Nymex while Brent crude for December traded at US$83.4 on the ICE Futures Europe exchange. An on going strike in France is expected to lead to a rise in French demand for imported fuel. A widespread...

Nov 1st, 2010

Naphtha Prices in Asia Recover, Cracks Rebound

Robust industry demand has led Asian naphtha prices to recover to a three-session high midweek, while cracks rebounded from a near two-week low to reach their highest in a week, as per Reuters. Amid ample supplies, sentiments have been boosted as South Korea’s Honam Petrochemical and Samsung Total, and Japan’s Exxon and Tosoh seek cargoes...

Oct 7th, 2010

Noticeable Increases in Asian Spot Styrene Prices

In Asia, spot styrene prices recorded noticeable increases over the past week, moving up by over US$50/ton in a week’s time, gaining support from the higher energy prices as well as the planned maintenance shutdowns in the region, as per Chemorbis. The spot styrene market sees support from the higher energy costs as oil prices...

Sep 28th, 2010

Spot Ethylene Peak to Four Month Highs in Asia Despite the Approaching Holidays in China

Asian spot ethylene prices reached a four month high on the last working day of last week, as per Chemorbis. Spot prices both in Northeast and Southeast Asia recorded significant increases during this past week while strong demand, triggered by shutdowns, was the main driver behind this rise despite the approaching National Day holiday in...

Sep 23rd, 2010

Asian Naphtha Prices at One-week Highs, Cracks at Five-session High

Asian naphtha price rose to a one-week high on Tuesday, cracks touched a five-session high and intermonth contango narrowed for the second straight-session despite the weak fundamentals, as per Reuters. The higher cracks could be a sheer reflection of a technically shut West-East window. Sinking crack values will compel sellers to look outside of the...

Sep 20th, 2010

Higher Feedstock Costs Push Asian PET Higher

Trading activities have improved in the Asian PET market over the past week as overall offer levels are supported by the higher feedstock costs, as per Chemorbis. Spot PX gained US$35/ton CFR Northeast Asia on the week, while prices reached the highest levels reported since May, surpassing the US$1000/ton threshold. Meanwhile, spot PTA prices gained...

Aug 11th, 2010

Brazil Is One of the Developing Countries Experiencing Pesticide Industry Growth

The rapid increase in the population and limited land availability form the most important factor stimulating market growth for agrochemicals. The other market drivers are lack of natural resource management, need for plant genetic resource conservation, and improper planning by the farmers in crop production. However, lack of farmer awareness in using agrochemicals and rising...

Aug 11th, 2010

Vietnam Plans to Achieve 70% Mechanization in Rice Cultivation by 2015

Agriculture plays an extremely important role in Vietnam’s economy. This sector contributes 24% to the national GDP, accounts for nearly 30% of total export value, and employs over 60% of the country’s economically active population. In recent years, Vietnamese agricultural production has obtained rapid, steady growth. The agricultural production value achieved an average increase...