Chemical pricing & supply report
Staff -- Purchasing, 7/14/2005 2:00:00 AM
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Domba Mas Group will build a new olechemical plant in Kuala Tanjung in North Sumatra, to meet the increased demand for fatty acids from its primary customer Procter & Gamble. The new plant will have an annual output capacity of 120,000 tons of fatty alcohols per year and will make Indonesia the world's largest producer of natural fatty alcohol. "Olechemicals are an important raw material for Procter & Gamble's consumer products businesses, and this will be an integral part of our global supply network," says Ian Edwards, global vice president for Procter & Gamble Chemicals.
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DuPont saw a 45% increase in profits in the first quarter fueled by price increases for plastics and pigments. Chief executive officer Charles Holliday Jr. says the Wilmington, Del.-based firm has raised global prices 5% for products such as titanium dioxide.
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To keep pace with rising demand, DuPont's Vespel business unit is expanding its polyimide resin production facility in Circleville, Ohio, by 50%. The projected startup of the expanded resin facility is October. Polyimide resins make high-temperature, low-wear and low-friction components such as bushings, seal rings or thrust washers for automotive, aerospace, semiconductor manufacture and various other end-use industries, according to Mark Schmeckpeper, global product manager for Vespel.
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German chemical industry association VCI raised its forecast for price increases and industry sales for the full year after a strong first quarter, as an upswing in the sector looked set to continue. VCI said it expected chemical producer prices in Germany to rise by around 3% this year, better than an earlier forecast of a rise of 1.5%.
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Rapra Technology Ltd. of Shrewsbury, England, is planning Thermoplastic Elastomers 2005 for Sept. 14-15 2005 in Berlin, Germany. The international conference will discuss market conditions for thermoplastic elastomers, their raw materials, processing technology, and applications.
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A recent report from Barclay's Capital says plastics prices will face further weak demand for much of the rest of the year. "Both linear low-density polyethylene and polypropylene face much weaker markets (than) from the beginning of the year, but polyethylene appears more challenged as supply of propylene remains relatively tighter," suggest the London-based bank. Linear low-density polyethylene inventory growth in the first quarter of this year doubled compared with the last quarter of 2005 and was 37% up from the year-ago level. Polypropylene inventory also increased in the first quarter at nearly twice the pace of the same 2004 time period.
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