Page 50 - Plastics News October 2023

BUSINESS NEWS

Sabic and Sinopec Start Up Joint Venture PC Plant in China
complement the national agendas of
Saudi Arabia and China,” said Sabic
CEO Abdulrahman Al-Fageeh. “Build-
ing on our position as one of the
world’s leading polycarbonate manu-
facturers, our first-ever PC plant in
Asia underlines our commitment to
operate and manufacture in markets
that are close to our customers to in-
crease service capabilities, agility, and
supply reliability.”
Sabic will mainly deliver polycarbon-
ate from the JV to customers in the
greater China region, targeting elec-
he new production facility will Established in 2009, SSTPC is a mega- tricals & electronics, consumer goods
Tserve converters in the greater size petrochemical complex that con- and appliances, automotive, health-
China region in the electronics, con- sists of nine world-scale production care, and building and construction
sumer goods, appliances, automotive, plants producing polyethylene and applications. Sabic’s portfolio of PC
healthcare, and building and construc- polypropylene, among other chemi- materials produced at SSTPC will be
tion sectors. cal products. With an annual designed marketed under its Lexan brand.
capacity of 260,000 tonnes/year, the
Sabic and Sinopec have reported the Future demand for polycarbonate and
start of commercial operations of a new PC plant is a vital component of other engineering plastics is expected
new polycarbonate (PC) plant at their Sabic’s PC growth strategy in China, to grow in China to support increas-
50-50 joint venture (JV), Sinopec Sabic allowing for further collaborations ing production of electronics, auto-
Tianjin Petrochemical (SSTPC). Sabic with global and local customers. motive, information technology, and
Chairman Khalid Hashim Al-Dabbagh “By working in partnership, Sabic and building materials.
and Sinopec Chairman Ma Yongsheng Sinopec are unlocking significant and
attended the ceremony. mutual growth opportunities that

Resin Price Report: Spot Resin Market Explodes at Start of Q4

usiest trading week of the year 2023 so far at the PlasticsExchange, (PP) picked up another penny, ac-
Bis impressive even by historical and was even impressive compared cording to the PlasticsExchange.
standards. with historic averages.
Some export availability emerged lat-
The fourth quarter got off to a rip- PE, PP resin prices hold on to gains er in the week, as international buy-
roaring start in the spot resin mar- Export demand remained very ers took pause while oil corrected
ket. Domestic demand was strong strong and some sizable PE transac- lower. The overall supply/demand
and the supply situation improved, as tions, including sales to Europe and balance is fairly snug for both PE and
resellers offered some of their fore- Latin America and smaller PP deals PP, and producers are looking to lev-
casted Prime railcars into the Plas- to Mexico, were concluded. Prime erage market momentum in October
ticsExchange marketplace to get a resin prices continued to climb, al- by adding to their successful Septem-
head start on October sales, reports though they gave back a little later in ber increases. PE trading was strong
the resin clearinghouse in its weekly the week after the oil market took a as October ushered in, with buyers
Market Update. The week of Oct. 2 big hit. Still, polyethylene (PE) held on aggressively approaching the market
ended up being the busiest week of to secure resin for the month ahead
to a half-cent gain and polypropylene

50 PLASTICS NEWSASTICS NEWS October 2023
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