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Tyre makers publish positive Q1 2021 financial results7 May 2021 / ChemCourier. Synthetic Rubber. Europe / company news

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   The world’s largest tyre makers have begun posting the Q1 2021 financial results showing that the vast majority reached significant gains owing to economic recovery in major markets. Nokian Tyres reported that net sales grew by 22.1% from the Q1 2020 figure of €279.8 million to €341.8 million in Q1 2021, with operating profit increasing by 392% from €9 million to €44.3 million. In January—March 2021, net sales of passenger car tyres went 29.1% up from €190.5 million to €245.9 million. The Finnish tyre maker forecasts net sales in comparable currencies and segment operating profit to rise in 2021 amid higher global car and tyre demand.

   Hankook Tire informed that consolidated global sales and operating profit rose by 12.6% to KRW 1.61 trillion and by 75.5% to KRW 186 billion, respectively, on an annualised basis as global business kept showing signs of stable recovery. In 2021, Hankook seeks to maintain the growth momentum of its high-inch tyre sales in major markets and add original equipment partnerships with an already-robust portfolio.

   Larger output, price/mix improvements and favourable foreign exchange rate sent Goodyear’s Q1 2021 sales 15% up year on year to $3.5 billion. The company’s net income was $12 million versus a net loss of $619 million a year ago.

   Cooper Tires said that net sales edged 23.3% up year on year from $532 million to $656 million in Q1 2021, while operating profit was assessed at $38 million versus an operating loss of $6 million in Q1 2020.

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FREE online conference LDPE/LLDPE market performance in 2020 and outlook for 202121 Apr 2021 / ChemCourier. Polyolefins Market Weekly / prices & market situation

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Dear market players,

Chem-Courier Information Agency is pleased to invite you to an online conference Reasons for global LDPE/LLDPE lack and price hike in Q1 2021. Outlook for 2021 as part of the annual meeting with subscribers.

Participation in our Zoom event scheduled for 10.00—11.00 (GMT+2) 18 May 2021, is free of charge.

Chem-Courier's analysts will speak on the key 2020—2021 LDPE/LLDPE market events.

Discussion topics:

2020 outcome: pandemic and price drop

Paradox of unattractive LDPE and LLDPE prices in China

World uptrend impact on Vietnamese and Chinese markets

Potential changes in Turkey's LDPE/LLDPE import structure

Saudi Arabia loses ground in global LDPE/LLDPE export market: true or false?

USA-origin LDPE/LLDPE hits new price high. Any chances of rollback?

How LDPE/LLDPE shortage in Europe occurred

Possibility of European downstream unit stoppages on exorbitant prices

 

To take part in the conference, each participant should provide Anastasia Matushkina with the following data:

Company name

Participant name

Position

E-mail

Contact number

 

If you want to invite your colleagues to the event, please let us know in your letter.

Please take notice that a Chem-Courier representative will contact you within 24 hours after having received your conference attendance request to verify the information.

__

Best regards,

Anastasia Matushkina

Deputy chief editor. PE & PP, PVC

Chem-Courier Information Agency

Russia: (+7 499) 346 03 42 (ext.339)

Ukraine: (+38 056) 370 12 04 (ext.339)

a.matushkina@chemcourier.com

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EPPA calls on PVC producers to lift force majeure ASAP15 Apr 2021 / ChemCourier. PVC Market Weekly / company news

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The European Trade Association of PVC Window System Suppliers EPPA published the press release on 30 March 2021 that voiced EPPA member companies’ concerns about the wave of force majeure declarations by European raw material suppliers.

According the release, the massive PVC supply chain problems have put serious pressure on PVC window system suppliers. The consequences of the global pandemic and the force majeure events many resin producers declared in the past few weeks are weighing heavily on logistics. As main consumers of PVC resin in the European market, PVC window system suppliers are suffering from the increasing shortage of the material and price surges, both influencing their production.

At the same time, demand for construction products such as windows has been increasing seasonally in the past few months. If suppliers are unable to cope with demand for the polymer, PVC profile makers will have problems continuing production as planned. A lack of imports, those from the USA as well as the Middle and the Far East in particular, is worsening the situation further and it may come as a blow to the industries further down the supply chain and eventually the European market for PVC windows if nothing changes. As the first adverse effects can already be seen, the EPPA called on raw material manufacturers to do everything to lift force majeure as quickly as possible.

According to Chem-Courier’s data, over 10 European PVC producers and about 15 units had technical issues in Q4 2020 and Q1 2021. At the same time, PVC imports into Europe from outside the region plunged at an annualised rate of 39% to 66,020 t in Q4 2020 due to global undersupply. Regular buyers faced an average increase of €700/t to €1,450/t FD Europe in PVC K67 prices year on year. Some suppliers are quoting over €1,650/t FD now.

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