On November 23, 2005, the Ministry of Commerce said that its imposition of anti-dumping duties on acrylate imports from Japan and the US has come to an end, as it had announced it would on June 1. This is the second time for China to end anti-dumping measures against imported products on the basis of World Trade Organization rules.
Provisional anti-dumping measures were implemented on November 23, 2000 against Japanese and US acrylate imports, meaning those with profit margins between 24 and 71 percent had to pay duties.
The concerns of three Chinese producers of acrylate, an industrial chemical raw material used to make plastic models and optical parts, jewelry, adhesives, paint and textile fibers, had prompted anti-dumping investigations.
In June 2001, the former Ministry of Foreign Trade and Economic Cooperation formalized the measures, giving them a five-year term in line with WTO rules.
Smaller companies, downstream in the industrial chain, supported the end of the measures for fear of higher prices and less choice in acrylate supplies.
Gong Beifan, secretary general of China Adhesives Industry Association, had said in September that the anti-dumping measures had caused 50 billion yuan (US$6.2 billion) losses for the adhesive industry.
Originally Posted: China Business Daily
Author: Angulo Fu
Monday, November 24, 2008
Termination of Anti-dumping Measures on Imported Acrylate
Monday, November 10, 2008
Indian, Thailand and Malaysia to Reduce Rubber Output
Indonesia said, has agreed to join with Thailand and Malaysia to cut rubber output. As a result of the buyers default, including China, the delay in export will up to 2 months.
According to Bloomberg News, the world's second largest rubber producer Indonesia will replante 55,000 hectares of trees to reduce the rubber output in the next year.
Daud Husni Bastari, the President of the Rubber Association of Indonesia said that the replanting measures will reduce the rubber production of 55,000 tons in Indonesia. This is approximately 2% of Indonesia last year's output.
The three countries plan to replant an area of 169,000 hectares. There are 55,000 hectares in Indonesia, 64,000 hectares in Thailand and 50,000 hectares in Malaysia.
The three countries annual harvest about 7 million tons of rubber. There are approximately 6 years from the tree planting to harvest for the first time. In the next 20 years, the tree could output rubber. The aims of replanting is to cut down trees on Aging. Before the new trees' mature, which would help to prevent the world's rubber supply. Other measures include the reduction of output for each rubber trees, or delay cutting rubber.
According to the report from Thailand, Malaysia, Cambodia, Vietnam, Singapore and Indonesia, the non-compliance of purchase have achieved in the number of 60,000 to 80,000 tons, most of them are from China. Some buyers have asked for a postponement of shipping, which are one or two months. There are many rubber exporters canceled shipment, in particular those of the originally plan to China's rubber cargo, because the buyers did not open a L/C.
Rubber prices have fell 50 percent from a high peak of 28 years in last 5 months. The market worried about the global financial crisis will make the global economy into recession, thereby reduce demand of goods.
Originally Posted: China Business Daily
Author: Angulo Fu
Thailand to Cut Rubber Production 50% in Six Months
Thailand, the world's largest rubber producer, said Monday for the protection of rubber prices, Thailand will start the reduction of 700,000 tons of rubber production in the next 6 months.
Saenkaew, the Minister in charge of rubber Affairs from the Ministry of Agriculture & Cooperatives said Thailand plans to cut 50 percent of rubber production during this period and encourage farmers to reduce the tapping.
It is understood that the reduction decision is based on the output of 1.4 million tons from October 2007 to March 2008. The reduction of output is equivalent to 23 percent of forecast for 2008 which is 3.1 million tons. Thailand's rubber production in 2007 are 3.0 million tons.
Saenkaew said that as a part of reduction plan, Thailand will also reduce the the trading day of domestic rubber trading center. The trade Day is expected to reduce to 2-3 days a week, in response to the drop in supply.
At present, the international benchmark --- Thai RSS3 rubber price Monday reported that 1.85 U.S. dollars per kilogram, while in July this year, the price had hit 56-years record high of 3.25 U.S. dollars per kilogram. In the face of the global financial crisis, Thailand, Malaysia, Indonesia are under attack, and the consumers should keep cautious sentiment.
Originally Posted: China Business Daily
Author: Angulo Fu
India's Natural Rubber Output in October to 81,000 Tons
According to New Delhi on November 3, a senior officials of Indian Rubber Board said India in October natural rubber production declined to 81,000 tons, dropped 9 percent compared with the same period of last year.
The official said that affected by heavy rain, there are interruption of production tapping. But he refused to disclose his name.
From April to October, the output of rubber production have an increase of 19.6 percent to 476,865 tons, 398,859 tons for the same period of last year. According to report, the overall favorable weather conditions promote the the production of rubber from April to October.
Originally Posted: China Business Daily
Author: Angulo Fu
50th Anniversary Celebration of Synthetic Rubber Industrialization Held in Chongqing
November 1, 50th anniversary celebration of China Synthetic Rubber Industrialization was held in Chongqing Changshou Chemical Co., Ltd. After 50 years of development, China's synthetic rubber industrial products from small to large scale. The capacity of synthetic rubber is the second highest in the world, only after the United States.
Chongqing Changshou set up plant with an annual output of 2,000 tons of Chloroprene rubber since November 1958. By now, China's synthetic rubber industry has crossed the 50-year development process. Synthetic rubber products have become essential materials of China's industry, agriculture, national defense and military high-tech fields, made a positive contribution to the development of the national economy.
In the promotion of reform and opening-up policy, China's synthetic rubber plant capacity from the 93,000 tons in 1978 to l69 million tons in 2007; production from l01,000 million tons in 1978 to the l63 million tons in 2007.
In more than 50 years of synthetic rubber industrialization, the total of output is 18 million tons. During the 30 years of reform and opening up, the production output is l7.69 million tons, accounted for 96.4 percent of total output.
Domestic varieties of large-scale industrial production has expanded from 4 in 1978 to 7. Other types of rubber production has also increased, so that the domestic synthetic rubber product structure is more reasonable.
Originally Posted: China Business Daily
Author: Angulo Fu
Total Set up Subsidiary in Suzhou for Rubber Business
October 29, 2008, Hutchinson Industrial Rubber Products (Suzhou) Co., Ltd. held an opening ceremony in Suzhou Industrial Park, marking the Hutchinson began officially in operation in Suzhou.
Hutchinson is a subsidiary of Total Group. It is the world's leading manufacturers in automotive, aerospace, as well as daily necessities rubber markets. The total investment amount is RMB 120 million on it. Hutchinson set up 118 factories in 27 countries, has about 27,000 employees. In China, Hutchinson invest four branches serving the automotive, industrial seals and commodities markets.
Hutchinson Suzhou plant planned to began in 2004, covers an area of 64,000 square meters, construction area of over 30,000 square meters. The factory introduces a world-class level of industrial rubber production equipment and technology, specializing in the production of seals, sealant, the conveyor belt and pieces of shock absorption, serving railway, aviation, automobile and construction markets.
Originally Posted: China Business Daily
Author: Angulo Fu
Thursday, November 6, 2008
Eastman Launch Polyester Packaging Materials for Infant Health Care Products
Eastman announced that its brand business, product designers, as well as tooling division now have greater flexibility in design for the infant care products. They could use of the Eastman Tritan Polyester materials for customers to improve product performance.
The customers' requirement of the plastic infant care products are transparency, durability, and not contain bisphenol A (BPA). Eastman Tritan Polyester material can provid some performance which traditional polyester materials don't have, such as transparency and toughness, can also provide heat resistance and chemical resistance, improved design flexibility and easy processing. And the Tritan production does not contain BPA.
Evenflo, the world's leading infant care product manufacturer is the first company to use Eastman Tritan Polyester materials for baby bottles. Infant care products need to be resistant to wear and tear. New Comfi production line could produce plastic baby bottles, but the apperance is similar to glass, it can be clearly observed the internal liquid from outside.
Originally Posted: China Business Daily
Author: Angulo Fu
Azelis Become a Distributor of Reichhold in UK
Reichhold reached a commercial co-operation agreement with Azelis, a British distributor. Since then zelis will be a agency authorized by the Azelis, may be responsible for the sales and customer service in the Northern Ireland.
Reichhold's main production are polyester, vinyl polyester and gel-coated material, as well as other products are widely used in various industrial fields, such as energy, construction, marine vessels, transport, sanitary and kitchen products.
Maartenvanden Ouden, the area sales manager evaluates the cooperation between the two sides as follows: Reichhold will continue to offer high-quality products and services to users. By signing a new commercial agency contract with Azelis, we believe that this concept will continue to be passed in the Northern Ireland. Azelis has operated composites trading for many years, has a professional technology and business services team. I think Azelis will made a significant progress in the region by virtue of their strength.
Gianni Ostelli, the header of the Azelis international composite business department, said as a team sustain to concerned about providing customers with high value-added services, Azelis Composites will supply be first-class service to local users, and work together with Reichhold to promote the local business.
Background
Reichhold is the world's largest supplier of unsaturated polyester resins for composites and a leading supplier of coating resins for a wide variety of markets and applications. Reichhold has 18 manufacturing sites in 11 countries, including two tolling sites, throughout the Americas, the Middle East and Europe.
Founded in 1927, Reichhold will celebrate 80 years in business in 2007. With its world headquarters and technology center in Research Triangle Park, North Carolina, USA, Reichhold has the widest global reach of any resin supplier today.
Azelis provides access to European markets for manufacturers and suppliers of products to the following industry sectors: Coatings, Composites, Plastics, Chemical Industries, Pharma (human & veterinary), Animal Nutrition, Food & Health, Cosmetics and Rubber.
Its early strategy of growth through acquisition has resulted in almost total European coverage, with 32 companies integrated into an efficient operation that reaps the benefits of inter-group synergies whilst maintaining a deep knowledge of, and connection with, local markets.
Azelis employs nearly 1 100 people and in 2007 achieved sales of € 1 093 million.
Originally Posted: China Business Daily
Author: Angulo Fu
US Final Ruling on Anti-dumping Polyester Film
Recently, United States International Trade Commission (USITC) made a final ruling on anti-dumping polyester film originally from China, Brazil, Thailand and the United Arab Emirates.
The USITC judged China, Brazil and the United Arab Emirates to conducted dumping in US, have brought about substantial damage to the industry in the United States, and that Thailand was no substantial threat.
According to the USITC 's final ruling on the industrial damage, the United States will impose taxation on the polyester film from China, Brazil and the United Arab Emirates in accordance with the margin of dumping. And because of no damage, the United States will not be implemented anti-dumping measures on polyester film from Thailand.
It is understood that the margin of dumping of Chinese polyester film products involved in the case is from 3.49 percent to 76.62 percent.
Originally Posted: China Business Daily
Author: Angulo Fu
3AChemical and DuPont Introduce Teflon Protective Coating
After many years of cooperation between 3A Chemical Co. and DuPont, recently announced that work together again to introduce a new paint product in China paint market. The new generation of coatings will further enhance the consumers' confidence in 3A Chemical's innovation coating, as well as the science and technology of surface protection from DuPont Teflon ®.
At present, 3A Chemical Co. is the first building interior wall paint business which is licensed to use DuPont Teflon ® trademark. This new coating product is in the use of DuPont Teflon ® surface protection technology.
Backgound
In chemistry, poly(tetrafluoroethene) or poly(tetrafluoroethylene) (PTFE) is a synthetic fluoropolymer which finds numerous applications. PTFE's most well known trademark in the industry is the DuPont brand name Teflon.
Water and water-containing substances like most foods do not wet PTFE, therefore adhesion to PTFE surfaces is inhibited. Due to this property PTFE is used as a non-stick coating for pans and other cookware. It is very non-reactive, and so is often used in containers and pipework for reactive and corrosive chemicals. Where used as a lubricant, PTFE reduces friction, wear and energy consumption of machinery.
Originally Posted: China Business Daily
Author: Angulo Fu
Canada to Included PFOA & Salts in the Effective Exclusion
Canadian authorities will issue a draft of regulation which included Perfluorooctanoic acid (PFOA) & Salts in the effective exclusion list.
Canada included Perfluorooctanoic acid (PFOA) & Salts in the effective exclusion list is designed to prove the Canada Government will committed to the rule of excluding Perfluorooctanoic acid (PFOA) effectively.
Perfluorooctanoic acid (PFOA), also known as C8, is a man-made acid that has many industrial uses. PFOA can designate the acid itself, the principal salts (like ammonium perfluorooctanoate, also known as APFO), or the dissociated conjugate base perfluorooctanoate (also known as PFO). PFOA is a potent surfactant and a persistent ubiquitous global contaminant. It is detected in the blood serum of general populations and its biological effects are under investigation. PFOA is also produced from the degradation of a variety of precursors.
Perfluorinated acid are mainly for textile, leather, packaging and coatings industries. In 2006, because of the United States Environmental Protection's advocation, 8 US companies including DuPont would ban on Ammonium Perfluoroocatanate completely before 2015. Ammonium Perfluoroocatanate is a chemical raw material for Teflon (PTFE) pans.
Originally Posted: China Business Daily
Author: Angulo Fu
Tuesday, October 28, 2008
Huizhou 800,000 Tons Ethylene Plant Contract Signed
On October 28, 2000, the contract of Huizhou 800,000 tons ethylene plant was signed in Beijing. The contract had made history in China's petrochemicals industry. It had built and now operates a USD$4.1 billion world-scale petrochemicals complex, which was one of the largest capital investments for a Sino-foreign joint venture project to date in the People's Republic of China. The two side of contract were China National Offshore Oil Corp. (CNOOP) and Shell.
Under the contract, in 2005, a world-class modern petrochemical plant would be built in Daya Bay Economic and Technological Development Zone, Huizhou, Guangdong Province. Its main equipment includes: an annual capacity of 800,000 tons of ethylene cracker, a co-generation unit which an annual capacity of 560,000 tons of styrene monomer and 250,000 tons of propylene oxide, an annual capacity of 320,000 tons ethylene glycol unit, an annual capacity of 240,000 tons of polypropylene unit and so on. The petrochemical enterprises would introduce 12 world's most advanced technology. The plant with an annual output of 2.3 million tons of high quality petrochemical products, would replace some of the imported products on Chinese market. The annual sales would be expected to reach 17 billion U.S. dollars.
It is understood that the newly established joint venture company known as CNOOC and Shell Petrochemicals Company Limited (CSPC). Each accounted for the 50% of the shares.
Originally Posted: China Business Daily
Author: Angulo Fu
Tuesday, October 21, 2008
International Crude Oil Prices Effect Cost of Medical Package
Recently, the rising prices of international crude oil has effected the costs of China medical package industry.
For example, compared with last year, prices of the glass raw materials increased by 35% to 40%. Russian halogenated butyl rubber prices almost doubled, now offer 5,100 to 5,500 US dollars / ton, and a very tight supply. The prices of halogenated butyl rubber offered from Exxon and Lanxess rose an average of 25% to 30%, to 4,5000 US dollars / ton.
Exxon Mobil Corporation also said that if the prices of crude oil have been rising, the prices of halogenated butyl rubber will increase 5% to 10%.
Originally Posted: China Business Daily
Author: Angulo Fu
Thursday, October 16, 2008
Wang Yung-ching Passed Away
Oct. 16, according to Taiwan TVBS reported that Mr. Wang Yung-ching died at age 93 in New Jersey. Tonight he will be transported back to Taiwan by EVA Air.
It is reported that because worried about the U.S. financial turmoil impact on the Taiwan, Oct. 11, Wang Yung-ching went to the United States to inspect its production line and the plants with his wife and children. But in the morning of 15, Wang Yung-ching was taken to a hospital in New Jersey, then died due to heart and lung failure at 9:38.
Wang Yung-ching (18 January 1917 – 15 October 2008) also known as YC Wang, was an influential entrepreneur who founded a large chemical business empire in Taiwan. According to the 2008 Forbes survey, he was the 178th richest person in the world with an estimated net worth of US$5.5 billion. He was born in Hsintien township, Taiwan. Despite lacking any formal schooling beyond elementary school, he is currently ranked 2nd in the Forbes list of Taiwan's Richest.
Wang served as the chairman of the board of Formosa Plastics Corporation, one of the largest plastic manufacturers in the world, until June 2006, when he stepped down at the age of 89. He remained chairman of the boards of Nan Ya Plastics Corporation, Formosa Chemistry & Fibre Corporation, and Cyma Plywood & Lumber Co. Ltd, but indicated his intention to gradually resign from these positions as well before his death. He was chairman of Ming-chi Institute of Technology, Chang Gung Memorial Hospital, and Chang Gung University. He had been a vocal supporter of the Three Links between Taiwan and mainland China.
Originally Posted: China Business Daily
Author: Angulo Fu
Monday, October 6, 2008
Afton Chemical Purchases GE's Fuel Additives Business
On Tuesday, Afton Chemical Corp. which is a subsidiary company of NewMarket Corp. announced the acquisition of GE's North American Fuel Additives Business which was belong to GE Water & Process Technologies.
Afton is a supplyer of gasoline and diesel performance additives. The company did not disclose the financial terms of the transaction. But the company said the acquisition will expand its supply of diesel fuel.
As a part of the transaction, GE's current salers for product line will become employees of Afton.
Originally Posted: China Business Daily
Author: Angulo Fu
Friday, September 26, 2008
Sinopec Proposed Acquisition of Tanganyika Oil Ltd.
Yesterday, Oil producer Tanganyika Oil Ltd. said that the China Petroleum & Chemical Corporation (hereinafter referred to as "Sinopec") to raise 2.07 billion Canadian dollars to buy the company. The Toronto listed company's statement said the Sinopec Group to spend 31.5 Canadian dollars per share to acquire all shares of Tanganyika Oil. The total amount is up to 65.6 millions.
Tanganyika Oil said Sinopec's bid is reasonable and in line with the best interests of shareholders, recommended that shareholders accept the offer. Prior to this, there were reports that Sinopec's bid was higher than Indian Oil & Natural Gas Corp.'s Bid. However, Oil & Natural Gas Corp. did not raise the offer.
Tanganyika Oil Company Ltd. is an international oil and gas exploration and production company with interests in exploration and development properties in Syria.
Its shares are publicly traded on the Toronto Stock Exchange under the symbol "TYK" and its Swedish Depository Receipts on the OMX Nordic Exchange Stockholm under the symbol "TYKS". Corporate headquarters are in Calgary, Alberta. The Company's technical office is located in Damascus, Syria.
Originally Posted: China Business Daily
Author: Angulo Fu
Friday, September 12, 2008
Asian Gas Prices Rising by 80%
The Director of U.S. Cambridge Energy Research Associates Beijing Office John Harris recently predicted that because of majority of new projects tardiness and Indonesia, Egypt and other countries' export restrictions, the Asian natural gas prices may grow up by 80 percent this year.
According to China Customs statistics, China the imports price of liquid natural gas (LNG) is 14.35 U.S. dollars / MBtu in June. Harris believes that to this winter, the northern hemisphere liquid natural gas (LNG) prices are likely to rise 25 U.S. dollars / MBtu.
Originally Posted: China Business Daily
Author: Angulo Fu
Thursday, September 4, 2008
Hurricane Gustav Weakened, International Oil Price Plunge Overnight
The storm Gustav landing the United States, triggered the largest evacuation in the history of Louisiana. About 2 million people withdrawed from coastal areas. After Gustav landing, it weakened into one level hurricane, making the the international oil price plunge overnight.
This result surprised the analysts who expected oil prices rose above 10 U.S. dollars. Although more than 96 percent of oil and more than 82 percent of natural gas production facilities in Mexico Gulf have been closed, most staff from rigs and platforms evacuated, but the local U.S. "Oil & Gas Journal" thought that "the hurricanes did not made so serious impact on the oil market."
Insiders said that international oil prices fell Monday, the storm's weakening is one reason. More importantly, the strong dollar trend, coupled with the market had already expected, oil prices rising factors have been digested.
Originally Posted: China Business Daily
Author: Angulo Fu
Thursday, August 28, 2008
PetroChina Interim Net Profit of 53.62 Billion Yuan, Drop 34.5%
PetroChina Company Limited published 2008 first semi-anual report. In accordance with international accounting standards, PetroChina made net profit 53.62 billion yuan in the first half year, down 34.5 percent. And basic earnings per share of 0.29 yuan, down about 0.17 yuan. Attributable to shareholders of the company's net income was 48.355 billion yuan, 36.3 percent lower, earnings per share 0.26 yuan, down 0.16 yuan. PetroChina will distributed 0.131827 yuan per share which is 45 percent of the net profits as an interim dividend.
Author: Angulo Fu
Thursday, August 21, 2008
Samsung Released Corn Plastic Environment-Friendly Mobile Phones
With Samsung seeks to expand more natural-friendly product plans, Samsung Electronics recently announced two new phone produced by the corn plastic raw materials.
Samsung announced anathor type mobile phone, named F268. Samsung promised that F268 also did not use the phone PVC materials (polymers and vinyl chloride) or BFR (brominated flame retardants).
Originally Posted: China Business Daily
Author: Angulo Fu
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