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The Journey of Lassen 104

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Braskem blames reduced Mideast PP materials to Europe for higher Q1 costs

Brazilian manufacturer Braskem has cited a lack of Center Eastern polypropylene imports right into Europe for greater prices in the very first quarter.

" The high variety of upkeep closures at PP plants in the center East throughout Q1 2017, which impacted 15% of the area's overall polymer production capability, led to lower exports to Europe in the period and as a result higher rates in the area," Braskem stated in its first-quarter results statement.

According to S&P Global Platts data, homo shot polypropylene area costs for distribution in Northwest Europe averaged Eur1,169/ mt ($ 1,284/ mt) in the quarter, a boost of 14% year on year and up 16% from Q4 2016.

In the Middle East PP supplies from Borouge took a struck after a fire at the Takreer refinery in the UAE in January. Takreer supplies feedstock propylene to Borouge's 900,000 mt/year PP plant.

Braskem additionally claimed that European PP principles were also reinforced as need increased on a year-on-year and quarter-on-quarter basis.

The demand rise was driven largely by the vehicle, durable goods and construction product sectors, Braskem stated.

Additionally, Braskem said PP need rises were due to "higher rates for polystyrene as well as engineering plastics, which led customers to seek out various other products [, i.e. polypropylene,] to replace these materials."

Looking upstream, European PP rates in the very first quarter were sustained by the higher expense of propylene.

" The typical rate referral for propylene in Europe in Q1 2017 was $870/mt (Eur792/mt), 36% more than in Q1 2016, which is described by the arranged as well as unscheduled closures at both biscuits and also propylene production devices making use of lp as feedstock and by the solid demand for propylene derivatives in the area in the duration."

Braskem runs 2 industrial units in Europe, both creating polypropylene. chelating agent edta combined polypropylene capacity of the systems, at Wesseling and Schkopau in Germany, total 545,000 mt/year.

Supply from Borouge is expected to improve in the third quarter, when the company's PP plant will certainly get additional propylene from Takreer's newly constructed 500,000 mt/year PDH plant.

"Propylene supply will originate from the brand-new PDH unit in the third quarter," Mark Garrett, Chief Executive Officer of Borealis-- which holds a 50% stake in the task-- said earlier this month, adding that the company will certainly be able to run its Borouge-3 PP unit at three-quarters of capacity after the PDH device has actually been started.

 

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