3 000 T/A Polysilicon Plant Kicked off in Inner Mongolia
DunAn Holding Group
officially establishes a subsidiary Inner Mongolia DunAn
Photovoltaic Sci-tech Co. Ltd. to build 6 000 t/a
in Wulatehou Industrial Park, in Bayanzhuoer of Inner Mongolia,
with a total investment of RMB4.2 billion.
The first phase 3 000 t/a polysilicon project, broken ground this November, is scheduled for trial run in 2011.
The company operates in refrigeration parts, hardware, chemical engineering, trade, foodstuff, tour resource developing, and real estate sectors. The company was founded in 1987 and is based in Hangzhou, China.
Zijin Mining vows to take
Zijin Mining Group Co 紫金鉱業集団, China's largest gold producer and third-largest copper producer, announced Tuesday that it would pay A$545 million ($500 million) to take over Indophil, an Australian gold and copper company.
The Fujian-based Zijin Mining would make a conditional cash off-market takeover bid for all of the issued shares in Indophil for A$1.28 per share, according to a statement on the company website.
Indophil Resources NL, with its registered office in Victoria, Australia, owns 34 percent operating interest in Sagittarius Mines, Inc, a Philippine mineral exploration and development company which controls the world-class Tampakan Copper-Gold Project in the Southern Philippines. (Mindanao島南端)
The Tampakan Project's mineral resource is the largest undeveloped copper-gold deposit in southeast Asia. The latest confirmed mineral resource estimate is 2.4 billion tons containing 13.5 million tons of copper and 15.8 million ounces of gold at a 0.3 percent copper cut-off grade, the company said in the statement.
The deal, reached on Sunday, is still waiting for regulatory approval from both the Chinese and Australian governments, the company said.
Indophil Resources NL is an Australian publicly-listed company, incorporated in 1996, to acquire, explore for and develop gold and copper-gold opportunities in the Asia-Pacific region. Indophil's team is highly-experienced and successful in minerals development, with specialisation in the Philippines.
The Company's focus has been the development of the world-class Tampakan Copper-Gold Project in the southern Philippines. Indophil owns 34% of the Tampakan project, and has arrangements in place to lift that stake to 37.5%. The remaining 62.5% is held by Xstrata Copper, with the combined interests being managed through Sagittarius Mines Inc. on behalf of the Philippine Government and the people of the Philippines.
China XD Plastics
Chairman and CEO to Ring Opening Bell at NASDAQ Stock Market
China XD Plastics Company Ltd., the largest Chinese manufacturer in the development, manufacture, and distribution of modified plastics primarily for use in the automotive applications in China, today announced that the Company Chairman and Chief Executive Officer will ring the Opening Bell at the NASDAQ MarketSite in New York City on Thursday, December 3, 2009 at 9:30 a.m. ET to celebrate the Company's listing on the NASDAQ Stock Market.
China XD Plastics will begin trading on the NASDAQ Global Market on November 27, 2009, under the ticker symbol "CXDC". Until such time, its common stock will continue to trade on the Over the Counter Bulletin Board under the same ticker symbol.
"We are delighted to ring the opening bell at the NASDAQ MarketSite to celebrate our listing on one of the most prestigious equity markets in the world," said Mr. Jie Han, Chairman and Chief Executive Officer of China XD Plastics. "We are very proud to have our shares traded on NASDAQ less than one year after going public on the OTC market, and we would like to take this opportunity to express our sincere gratitude to our shareholders, dedicated employees, board of directors, management team, and all other parties who have contributed to our success in reaching this point today."
About China XD Plastics Company Ltd.
China XD Plastics Company Ltd., through its wholly owned subsidiary Harbin Xinda Macromolecule Material ("Xinda"), develops, manufactures, and distributes modified plastics, primarily for automotive applications. The Company's specialized plastics are used in the exterior and interior trim and in the functional components of more than 30 automobile brands manufactured in China including Audi, Red Flag, Volkswagen and Mazda. The Company's wholly-owned research institute is dedicated to the research and development of modified plastics, and benefits from the cooperation with well-known scientists from prestigious universities in China. As of the end of September 30, 2009, 137 products that Xinda manufactured have been certified for use by one or more of the automobile manufacturers in China. For more information please visit http://www.chinaxd.net .
China XD Plastics, the largest manufacturer of modified plastics for automotive applications in China, is headquartered in Harbin, China. Our company, with over 25 years of history, currently has a total usable area of 336,400 square feet ,19 production lines with an annual production capacity of 70,000 tons, 396 full time employees, and a leading research institute. We provide our customers with137 best price-to-value modified plastic products.
Approximately 90% of China XD plastics’ products are used in automotive applications in exterior and interior trims, and other functional components.
China XD Plastics’ 137 products fall into 6 major categories based on their physical characteristics:
Environment Friendly plastics
China XD Plastics has 19 state-of-art production lines imported from Germany and the U.S. Its experience, accumulated over many years, afforded China XD the ability to develop its proprietary, advanced and efficient automatic production process based on the characteristics of the specialized modified plastic production.
2009-12-05 China Daily
Chinese firms eye Balla Balla stake
Australian mineral explorer Aurox Resources Ltd is planning to sell a 50 percent stake in its A$1.3 billion ($1.2 billion) Balla Balla magnetite iron ore mine to a Chinese partner to help fund the project.
Hebei Iron & Steel Group河北鋼鉄集団, China's second-largest steel mill, and Tianjin-based privately owned RockCheck Steel Group, 天津栄程聯合鋼鉄集団 which had signed sales accords with the Perth-based company, are on the prospective list of financiers, Bloomberg reported, citing Aurox Managing Director Charles Schaus.
Aurox Resources Ltd.は、中国のRockCheck Steel Group Company Ltd.と15年間にわたる3百万t/年の鉄鉱石off take契約を結んだことを公表した。これは、西オーストラリア州Balla Balla鉄鉱石プロジェクトの生産規模を6百万t/年へと倍増させることになる。またAurox社はこのプロジェクトのため、91百万A$の資金を調達すると発表した。
RockCheck Steel社は中国のトップ10に入る製鉄会社である。2007年3月に、Aurox社は、同じく中国のChengde Iron&Steel Group Companyと3百万tの鉄鉱石売買契約を行っており、この契約により、Balla Ballaプロジェクトから鉄鉱石6百万tが中国へ供給されることになる。
Chengde is part of the Hebei Iron & Steel Group
Both Hebei Steel and
RockCheck could not be reached for their comments.
Schaus said he expects to sew up financing for the project by March next year, and will continue discussions with potential partners next week.
The sale of a 50 percent stake in the project to a Chinese partner would also be in accordance with Australia's foreign investment guidelines, he said.
Balla Balla isworld class and will be:
A low cost iron concentrate producer of 6Mtpa in Phase I and 10Mtpa in Phase II
The world’s most significant new source of vanadium
A top 10 titanium feedstoc producer
The company plans to ship
6 million metric tons of magnetite iron ore concentrate a year by
2012 from the project located in Western Australia's Pilbara
region. A second-stage expansion of the mine has been planned for
"There is no doubt that iron ore demand from China would continue to grow," Schaus said in Bloomberg's TV interview. "Our feeling is the price will increase in the future and certainly will be rock solid when we come in to the market in 2012."
Aurox plans to pipe output nearly 110 km from its Balla Balla mine site to Port Hedland in northern Western Australia for shipping.
"The project is not valued as a superior resource as the exploring cost of magnetite iron ore is higher than normal iron ore resources," said Hu Kai, an analyst with Umetal Research Institute.
Many iron ore miners are expanding their production capacities, so there might be a chance that supply would exceed demand by 2012, said Hu.
Putting aside the cost factor of the project, it still does make strategic sense for Chinese steel makers as they scout globally to augment raw material resources, he said.
Chinese investors have been enthusiastically snapping up overseas iron ore resources to break the monopoly of the Vale, Rio Tinto and BHP Billiton.
The latest in this process was Chinese steelmaker Wuhan Iron & Steel Group's $ 400 million investment for a 21.52 percent stake in Brazilian iron ore miner MMX Mineracao e Metalicos SA, followed by Wuhan Steel's $247-million investment into Australian iron ore firm Centrex, and Baosteel's acquisition of a 15-percent stake in Aquila Resources.
Pengwei Petrochemical Starts up 600 000 T/A PTA Project
Petrochemical Company Ltd (Pengwei Petrochemical) recently
commenced production of its 600 000 t/a PTA (purified
terephthalic acid) project in Fuling of Chongqing Municipality.
With a total investment of around RMB2.5 billion, construction on the project was started in September 2007.
中国、鉄鋼の過剰生産是正 中小製鉄 存続認めず
内蒙古の 匯能集団 （Huineng Group）はこのたび、内蒙古オルドスでの石炭からの合成天然ガス計画で国家発展改革委員会（NDRC)の承認を取得した。
匯能集団 （Huineng Group）：16億Nm3（内蒙古
神華集団(Shenhua)： 20億Nm3（内蒙古 オルドス）
Qinghua：55億Nm3 （新疆ウイグル Yili）
大唐集団（Datang)： 40億Nm3（遼寧省 阜新）
参考 中国SNG 事業の現状と行方
Construction for Ningxia Refinery Project
Recently, Ningxia Petrochemical Co. a subsidiary of PetroChina - has started construction for its 5 Mt/a refinery project in Yinchuan , Ningxia Hui Autonomous Region.
The project is approved by NDRC in Dec. 9, 2009. With total investment RMB 7.03 billion, the project, the project will mainly include 5 Mt/a atmospheric distillation, 2.6 Mt/a catalytic cracking, 600 kt/a continuous reforming, and 100 kt/a Polypropylene (PP) etc. The total project is expected to start up in Sep. 2011.
After completion, the project is estimated to produce annually 1.73 Mt of gasoline, 2.38 Mt of diesel, 210 kt of liquefied petroleum gas (LPG) and 100 kt of PP. And the total revenue of the new project is to reach RMB 15 billion per year after commercial operation.
The crude oil will be secured by PetroChina Changqing Oil field（長慶油田）. In Sep. 25, 2009, a 141 kt pipeline from Hui'anpu （惠安堡）to Yinchuan has been started construction, which will be completed in Jun. 2010 and is designed to transport crude oil to the new refinery.
Tianjin Petrochemical Starts up 300 000 T/A LLDPE Unit
According to a source
form Sinopec Tianjin
Petrochemical Co., Ltd., the company recently commenced
the production of 300 000 t/a LLDPE (linear low density polyethylene)
unit and 2.3 million t/a delayed coking
million t/a wax oil hydrogenation unit went on stream on December
The three units are parts of 1.0 million t/a ethylene project and matching facilities.
2009-12-24 China Daily
China, Venezuela sign oil development pacts
China National Offshore Oil Corp (CNOOC), the country's largest offshore oil producer, has signed an agreement to develop oil and gas resources in Venezuela, the latest step in its overseas expansion.
CNOOC has signed a memorandum of understanding with its Venezuelan counterpart for the development of heavy oil and offshore oil and gas resources. The agreement was signed in the South American country on Dec 22, said a company executive yesterday.
It is the company's first entry into the country, said the executive who declined to be named, adding that it was a framework agreement.
CNOOC will help Venezuela to develop the Boyaca 3 oil block in the Orinoco belt, a large heavy-crude basin in eastern Venezuela, Wall Street Journal reported yesterday.
The move is part of Venezuela's efforts to increase oil sales to China to 1 million barrels per day from the existing 400,000 barrels per day, said the report.
The sound relationship between China and Venezuela would help domestic oil companies better foster their partnerships in the Latin American country, said Xia Yishan, an expert at the China Institute of International Studies.
"Venezuela has rich oil resources and will be one of China's important energy markets," he said.
Analysts said China should further diversify its oil import sources to ensure sustainable supplies. At present the Middle East, Africa and the Asia-Pacific are the three main regions from which China imports oil.
In another development, China's largest oil producer China National Petroleum Corp (CNPC) also moved forward by securing access to another oil block in the Orinoco region that could eventually produce 400,000 barrels of oil per day, Wall Street Journal reported.
CNPC also agreed to build a refinery with Venezuela that will process crude from a joint oil venture between the two countries, said the report.
But a CNPC spokesman yesterday said he was not aware of the deal.
Coal to SNG Conference
2010 will be held in Beijing
From 2000 to 2008, China's average annual natural gas consumption grew by nearly 16%, while the output increased about 13%. It is predicted that in 2010 China's natural gas demand would be 110 billion Nm3, while the corresponding output can only reach 95 billion Nm3, and the gap will reach 15 billion cubic meters.
Coal-to- SNG (substitute or synthetic natural gas) based on the China’s rich coal resources features, through the efficient coal conversion to produce clean energy products and then delivered to target market by pipelines, have great market advantage. Coal to SNG is one of the most important directions of new coal chemical industry and has been awarded the key demonstration project in China's petrochemical reviving and stimulus package in 2009.
China’ west-to-east gas pipelines provide good utilities condition for coal to SNG products transportation and distribution. Natural gas price mechanism reform will further enhance the SNG competitiveness.
Under the background, ASIACHEM Consulting will organize the 1st Coal to SNG Conference in 20-21 Jan., 2010 in Beijing, China . On the upcoming conference, China natural gas and coal chemical policies, China gas market and gas pipeline development, technology & economic analysis of SNG, update of constructing & planning projects, development & application of advanced coal gasification and methanation technology will be focused.
For more information, please see
CNPC, allies win $9.7b gas contract
China National Petroleum Corp (CNPC), along with companies from South Korea and the United Arab Emirates (UAE), has won contracts worth $9.7 billion to develop a large natural gas field in Turkmenistan.
The consortium, comprising of CNPC, South Korea's LG International Corp and Hyundai Engineering Co, and the UAE's Gulf Oil & Gas Fze and Petrofac International Corp, will jointly develop the South Yolotan gas field, according to Turkmen media.
The Yolotan field is considered to be one of the biggest five natural gas deposits in the world and may hold around 6 trillion cu m of gas.
A CNPC spokesman, however, said yesterday that he was not clear about the deal, but added that Turkmenistan was one of the most important natural gas markets for the company.
China and Turkmenistan signed an agreement in 2007, under which the Central Asian country would export 30 billion cu m of natural gas to China annually for the next 30 years.
Under the deal, CNPC is currently developing natural gas fields in the Bagtyiarlyk area at Amu Darya Right Bank in Turkmenistan. A CNPC executive yesterday told China Daily that the output of natural gas from Bagtyiarlyk would amount to 5 billion cu m by next year.
A natural gas pipeline linking Turkmenistan and China's Xinjiang Uygur autonomous region started operations earlier this month as part of the agreement. The project is expected to play an important role in China's efforts to increase the use of natural gas to 5 percent of its total energy consumption in 2010, said analysts.
"The new deal will help meet the rising domestic demand for natural gas in the country," said Lin Boqiang, director of China Center for Energy Economics Research of Xiamen University.
Meanwhile, CNPC's listed arm PetroChina Co has won the approval of the Canadian government for its C$1.9 billion ($1.8 billion) bid to buy a stake in two Alberta oil sands projects, which is its biggest North American acquisition.
PetroChina has signed agreements with Athabasca Oil Sands Corp (AOSC) to take a 60 percent stake in the Canadian company's MacKay River and Dover oil sands projects.
China Daily 2009-12-31
Green plans on track,
Nation to curb overcapacity, develop low-carbon economy
China is making concrete efforts toward a low-carbon economy by curbing overcapacity and boosting strategic emerging industries, a senior official at the nation's top economic planner said yesterday.
Li Ningning of the National Development and Reform Commission (NDRC) said the overcapacity problem in a few sectors such as the coal chemicals industry must be tackled head on.
China is the biggest producer of coal chemicals. From January to November this year, China produced 314 million tons of coke, up 8.2 percent year on year, Li said.
In 2009, the production capacity of coke expanded by 30 million tons, while exports were down 96 percent from a year earlier to 480,000 tons. The capacity utilization rate 80 percent in 2008, he said.
"China is a country comparatively rich in coal, but lacks oil and gas. The absence of mature technology and the low investment threshold in the coal chemical industry means it is conducive to further investment," said Li.
Restructuring of the coal chemical industry involves eliminating outdated coal chemical production capacity, supporting technological innovations and strengthening policy guidance, according to Yuan Longhua, an official from the Ministry of Industry and Information Technology.
Wang Jian, secretary-general of the China Society of Macroeconomics, had written in an article published by the Xinhua-run Outlook Weekly that 17 industries in China faced excess capacity in 2008, rising from 11 in 2005. And the number of industries with excess capacity was still rising, Wang added.
Premier Wen Jiabao told Xinhua on Sunday that overcapacity was the result of an imbalanced economic structure in China.
"To resolve the problem of overcapacity, the most important thing is to take economic, environmental, legal and, if necessary, administrative measures to eliminate backward capacity and, in particular, restrict the development of energy-consuming and polluting industries with excess capacity," Wen said.
During the press conference yesterday, Shi Lishan, another official with the NDRC, said the government needed to develop hi-tech industries such as wind and solar power equipment manufacturing as China rushed to build a low-carbon economy.
Earlier this month, Premier Wen had listed seven hi-tech emerging industries - new energy, energy-saving and environmental protection, electric vehicles, new materials, information industry, new medicine and pharmacology, as well as biological breeding.
Boosting low-carbon technologies was crucial for the transformation of the nation's economy, Wen said.
Of the seven emerging industries that needed particular attention, new energy, energy-saving, environmental protection and electric vehicles industries were on the government's priority list.
By the end of 2008, China's energy-saving and environmental protection industries totaled 1.55 trillion yuan ($227 billion), accounting for 5.17 percent of the country's GDP, according to the NDRC.
He Bingguang, another NDRC official, forecast at a forum on low-carbon economy held in Beijing last week that due to government policies the two industries would account for 7 to 8 percent of China's gross domestic product (GDP) by 2015.
In fact, financing of low-carbon industries has been part of the government's stimulus package.
Liu Mingkang, chairman of the China Banking Regulatory Commission, said Chinese banks would continue to play a positive role in energy conservation and environmental protection, as well as helping to adjust the economy's structure.
"Banks should be part of concerted efforts to make a low-carbon economy," he said at a financial forum here last week.
To control risks, banks should create more low-carbon financial products to benefit the "green economy", Liu said.
Shanghai Huayi Kicks off 38 000 T/A ABS Project
Shanghai Huayi Polymer
Co., Ltd., a subsidiary of Shanghai Huayi (Group) Company上海華誼集団公司, recently held a ceremony for the
construction of its 38 000 t/a ABS (acrylonitrile-butadiene-styrene)
project in Shanghai Chemical Industry Park.
With a total investment of around RMB500 million, the project is the first phase of 200 000 t/a ABS project.
Sinopec starts up
petrochemical complex in Tianjin
On Jan. 15, 2010, Sinopec started production for its new large scale refinery and ethylene complex in Binhai New District, Tianjin.
The complex mainly includes a new 10 Mt/a refinery, a 1 Mt/a ethylene cracker and derivatives. The refinery is operated by Sinopec Tianjin Petrochemical Co., while the ethylene cracker and derivatives project is operated by a 50:50 jv between Sinopec and SABIC, which is named as Sinopec Sabic (Tianjin) Petrochemical Co. [中沙(天津)石化]. The jv was set up in Nov. 2009 with investment of US $2.7 billion, and will produce 3.2 million tons annually of various chemical products.
Sinopec Tianjin has existing refinery with processing capacity of 5.5 Mt/a, and other units also includes ethylene 200 kt/a, PX 380 kt/a, PTA 344 kt/a, polyester 200 kt/a, polyester staple fiber 100 kt/a and polyester filament fiber 90 kt/a. After the new complex commissioned, Sinopec has total refinery capacity 15.5 Mt/a and ethylene 1.2 Mt/a (including the jv capacity).
This complex was seemed as one of China’s key national projects from 2006 to 2010 period (11th - 5 Years Plan), as well as a symbolic project for the development of Tianjin Binhai New District. In Nov. 2009, the Tianjin Binhai New District was set up by the merge of three former districts - Hangu漢沽区, Dagang 大港, and Tanggu 塘沽区.
(This complex is located in Dagang.)
According to the official media, this project is estimated to raise Tianjin's gross industrial output value by more than 4% and drive up investment of RMB 100 billion in the downstream industries and support projects.
Sinopec-SABIC completes JV's $2.68 bln financing
SABIC said on Monday that its joint venture with China's Sinopec has obtained financing worth a total of $2.68 billion for their Tianjin petrochemical complex.
The joint venture obtained 12.26 billion yuan ($1.8 billion) long-term financing from Chinese lenders and 6 billion yuan to cover its working capital needs, SABIC said in a statement on the Saudi bourse website.
同社は2009年にPETチップ 286千トン、PETフィラメント 124万トンを生産した。
この計画には当初、韓国ロッテグループのKP Chemicalが参加することで検討してきた。しかし、KP Chemicalは同社の投資方針の変更で昨年この計画から撤退した。
KP Chemicalは2001年にKohap Corp.から独立して設立され、2004年にロッテグループのホナム石化が買収した。
同社は昨年6月、AkzoNobel のパキスタン子会社ICI Omicronからパキスタン唯一のPTAメーカーPakistan PTAの株式75%を買収した。Pakistan PTAは能力400千トンで、2002年から生
From January to November 2009, China net imported PTA 4.62 Mt and PX 3.08 Mt; in 2009 the total PTA and PX net import are expected to reach 5 Mt and 3.3 Mt respectively.
S Korea's Honam Petrochemical completes purchase of KP Chemical
Honam Petrochemical Chosen as Final Bidder for KP Chemical
KP Chemical today said that through a public offering it has chosen Honam Petrochemical as the final preferred bidder for the company. The consortium of KC Holdings Co. Ltd. was chosen as preparatory preferred bidder.
KP Chemical will go through due diligence and price negotiations with Honam before concluding the takeover by the first half of this year, if possible, an official of the lead-manager for the sale, Samjung KPMG, said. The offered price and exact contract schedule have not yet been publicly released.
KP Chemical, which has been under a workout program by about 40 creditors, led by Woori Bank, since its separation from troubled Kohap Corp. in December 2001, produces materials for polyester products.
It produces nearly 400,000 tons of packaging resin for PET (polyethylene terephthalate) bottles annually, which is 34.5 per cent of the domestic market, the nation's largest share, according to Samsung Securities Co.
KP Chemical's net profit was 20 billion won (US$17.26 million) in January and February, a Woori Bank official said.
The creditors claim 87 per cent of its stake, and the total debt of KP Chemical as of the end of last year was 606.9 billion won.
"If Honam acquires KP Chemical, both companies could enjoy a great synergy effect," a Samjung KPMG official said.
Honam Petrochemical, the sixth-largest domestic producer in the petrochemical industry, turns out 2.57 million tons of 15 petrochemical products annually, according to industry sources.
May 4, 2007Yonhap
KP Chemical pushes to build PTA plant in China
KP Chemical Corp., the petrochemical arm of the Lotte Group, said Thursday it is reviewing construction of a plant to produce purified terephthalic acid (PTA) in China."We are planning to build a plant that can produce 800,000 tons of PTA annually in China in cooperation with Chinese polyester maker Tongkun Group Co.," the company said in a filing to the Korea Exchange. PTA is a raw material for polyester fiber used to make conveyor belts and fishing nets.
AkzoNobel says it has agreed to divest its 75% stake in the purifed terephthalic acid (PTA) activities of its Chemicals Pakistan business, to petrochemical firm KP Chemical (Seoul). The business does not fit with the rest of AkzoNobers portfolio, the company says. Financial details of the deal were not disclosed.
ICI Pakistan today announced the construction programme for its US$350 million plant to manufacture Pure Terephthalic Acid (PTA). This plant, with an annual capacity of 400,000 tonnes, will be located on a 100 acre site at Port Qasim. The total investment in this Project inclusive of pre-commissioning costs and associated working capital requirements will amount to US$450m.
The transaction is expected to be completed in the fourth quarter. AkzoNobel acquired a 75% stake in Pakistan PTA Ltd., which is listed on the Karachi Stock Exchange, as part of the acquisition of ICI (ICI Omicron B.V.) in 2008. AkzoNobel told CIg last year that the former ICI business in Pakistan, including PTA and soda ash, would eventually be divested.
ICI announces the completion of modalities for acquisition of ICI Plc UK, parent company of ICI Omicron BV, by Akzo Nobel NV,
KP Chemical (Ulsan)
B 110, OX 210, PX 750, PTA 950
Tongkun group is located
in Tongxiang,Zhejiang province in the field of polyester yarn and
PET chips. We have been engaged in this area for 28 years with
more than 10 subsidiary and joint stock companies.Meanwhile we
deal with real estate, banking and trading. We are the largest
filament manufacturer in China and our polymer capacity is
1,200,000mts/y and filament yarn capacity is 1,400,000mts/y.
Our group owns all sorts of advanced equipments such as DUPONT, BARMAG and TMT for polymer,spinning,winding and texturising. We manufacture various specifications of polyester filament yarn include POY, FDY, DTY, ITY, MIDDLE TENACITY yarn, which cover semi-dull, bright, dope dyed black and cationic. Our quality management system is in conformity with ISO9001: 2000, our products are well received in local market , meanwhile sold to more than 40 countries, such as South East Asian, Middle East, South Africa and Europe etc..
Our sales amount reaches over USD1,400,000,000. Our group has three polymer units with the capacity of 180000MT/y. Besides, the control system is DCS from Honeywell. We can supply four kinds of PET chips, such as semi-dull, bright, cationic and viscous ones. The product range of polyester filaments includes POY, FDY, DTY and ITY, which are from 50 deniers to 300 deniers.
The turnover of our group in 2008 was over 13.7 RMB, of which export volume realized U.S.$ 120million. We are in top 3 enterprises among the field of chinese chemical fibre, and we have been ranked the top 500 Chinese enterprises continuously for 6 years since 2002.
Tongkun Group is the national large enterprise. The national high-tech enterprise and it ranks in one of 3 strongest enterprises in Chinese polyester fiber manufactory, in one of 10 strongest rate-paying enterprises in Chinese polyester fiber manufacturing industry, in one of the 10 strongest enterprises in Chinese chemical fiber industry, one of the 50 most competitive private-own enterprise, one of the 500 strongest Chinese enterprises. Moreover, our company was awarded the "National Labor Warranty". Tongkun was one of ZheJiang's first known firms. The leading product "GOLDEN COCK" polyester yarn is
Cabot Announces Expansion of Fumed Silica Facility in China
On January 19th, 2010 Cabot Corporation and China
National Bluestar (Group) Co. Ltd. announced that Cabot (China)
Ltd., a subsidiary of Cabot Corporation, and Bluestar New
Chemical Materials Co. Ltd have signed an agreement to
significantly expand the fumed silica capacity at the companies'
joint venture plant in Jiangxi province, China.
The Jiangxi site will have the near-term potential to produce up to 20 000 tons a year of fumed silica and will manufacture a wide range of products for multiple applications. The expansion will in its first stage increase the Jiangxi fumed silica capacity from 5 000 t/a to more than 15 000 t/a by the end of 2011.
Sinopec Expands Anqing
Refining and Petrochemical Complex
Sinopec Anqing Petrochemical Co., Ltd., a subsidiary of Sinopec Corp., started expansion of the refining and petrochemical integrated complex in Anqing of Anhui province on January 18th.
The Sinopec Anqing Petrochemical's refining capacity will expand to 8 million t/a from the current 5 million t/a, and the company will have ability of producing 2.7 million tons of the national standard III oil products per year to serve the central China market.
Dagu Chem starts up SM
project in Tianjin
On Jan. 22, 2009, Tianjin Dagu Chemical Co. (Dagu Chem) started up its SM project and produced on-spec products in Bohai Chemical Park, Binhai New District (Tanggu District), Tianjin.
With total investment of RMB 6.8 billion, Dagu Chem has built two derivatives project integrated with new Tianjin large scale ethylene cracker, the one is 500 kt/a SM project and the other is 400 kt/a ABS project. The SM project is commissioned while the ABS project is under construction and is expected to start up in Q2 2010.
Feedstock of the SM project will secure from the new commissioned Sinopec-Sabic jv cracker, the product is target to north China, east China and south China areas. The SM product will be also partly for captive use after the 400 kt/a ABS project start up.
Shaw Group とExxonMobil Chemical のJVである Badger Licensing, LLC の技術が採用された。
同社はまた2008年1月に、Shaw Group とABSプラント建設の技術・設計・購買契約を結んだ。
SABIC Innovative Plastics Technologies の技術を採用した。
2007/8/23 天津大沽化工、天津でＳＭ 500千トンプラント建設
In 2010, besides the Dagu Chem 500 kt/a SM project, Ningbo ZRCC Lyondell Chemical Co. - the jv between Sinopec Zhenhai and Lyondell - will start up its SM/PO project in Q2 2010 with SM capacity of 620 kt/a. (PO 285 kt/a)
2007/2/26 Lyondell とシノペック鎮海煉油化工、寧波で PO/SM 生産
From Jan. 2009 to Nov. 2009, China imported SM 3.27 Mt. The total SM import of China reaches 3,646Kt in 2009, nearing 30% increase than 2,811Kt in 2008.
と中国五環化学工程公司(China Wuhuan Engineering)、及び鶴壁宝馬集団（Hebi Baoma ）は本年1月、河南省鶴壁市の宝馬集団の工場で合成ガスからのMEG生産のJVの設立の式典を行った。
天津大学などもCoal to MEG の開発を進めている。
SINOPEC to build two MTO projects in Henan
In Feb. 3, 2010, SINOPEC
and Henan Provincial Government signed a memorandum of
outstanding, deciding to set up a 1.8Mt/a methanol to 600kt/a
olefins project in Baoshan Cyclic Economy Industrial Cluster,
Hebi City, Henan Province.河南省鶴壁市
The project will be jointly executed by SINOPEC and Henan Coal & Chemical Industry Group (HNCC河南煤業化工集団）. The project shall combine coal mining, methanol synthesis, MTO (methanol-to-olefins) and downstream processing into an integrated operation. Work of the project preliminary stage is divided between HNCC, in charge of the coal mining design, and SINOPEC, in charge of that of methanol, MTO and the derivative plants, while relevant governmental departments of Henan province shall provide the supporting documents necessary for the project proposal. The project application report shall be accomplished and submitted to state authorities before June 2010.
According to the earlier released information, at the end of 2009, SINOPEC approved the ethylene feedstock diversifying project proposed by Zhongyuan Petrochemical 中原石油化学in Puyang濮陽市, Henan Province. This project was reported to cost around CNY1.5bn and use a SINOPEC self-developed SMTO process. Construction scope shall cover a 600kt/a methanol to 200kt/a olefin unit. Also, it includes the expansion of existing PE unit to 260kt/a and a new PP plant of 100kt/a capacity. Zhongyuan Petrochemical is a subsidiary of SINOPEC. It is currently operating a 180kt/a ethylene cracker, a 200kt/a PE unit, a 60kt/a PP unit, a 50kt/a C4 extraction and a 100kt/a aromatic extraction plant.
Combining the news, SINOPEC is supposed to execute two MTO project in northern part of Henan Province. Firstly, the company will build a demonstration MTO unit of 200kt/a olefins in Puyang . Then a larger size MTO complex (600kt/a olefins) shall follow and to be built in Hebi.
According to the analysis of ASIACHEM, the existing naphtha crackers of under 300kt/a capacity in China will gradually lose their competitiveness with those coal-based olefin plants developed in China or ethane-based crackers boomed in Middle East. Therefore, the feedstock change project of Zhongyuan Petrochemical, once comes true, will be a good choice for SINOPEC, by the project not only the company can obtain commercial experience from the 200kt/a MTO operation and avoid the risk of one-step scale up to 600kt/a capacity, but also the existing downstream plants and distribution channels can be made full use to reduce investment cost.
SINOPEC has developed SMTO (initiated with S for SINOPEC) process as a technology reserve. In 2007, SINOPEC built a 100t/d SMTO commercial pilot unit in Yanshan Petrochemical. Then in 2008 the company developed 1.8Mt/a SMTO process package and acquired all capabilities necessary for the engineering & construction of full size MTO complex.
Sinopec announced that it has all the capabilities to scale up the SMTO project to 1.8 Mt/a (methanol feedstock).
Both Puyang and Hebi are located in northern part of Henan Province, belonging in one of the state planned 7 coal chemical industry bases, i.e. the borderland between Jiangsu, Shandong, Henan and Anhui Provinces. The abundance of local coal and water resources will provide a better foundation for SINOPEC to develop coal chemical projects.
シノペック子会社の鎮海煉油化工（ZRCC：Zhenhai Refining & Chemical
LLDPE 450 千トン
PO (jv) 285
PG (jv) 100
SM、PO、PGはLyondellBasell との50/50JV（Ningbo ZRCC Lyondell Chemical ）の事業で、SMとPOは併産となっている。
Datang gets approval for
Coal-to-SNG project in Fuxin , Liaoning Province
In early Mar. 2010, Datang Group has got approval from National Development and Reform Commission (NDRC) for its coal-to- SNG (synthetic natural gas) in Fuxin , Liaoning Province遼寧省阜新市. This is the second approved SNG project of Datang, and also it is the 3rd SNG project approved by NDRC in China.
With total investment RMB 25.7 billion, the designed capacity of Datang Fuxin SNG project is 4 billion Nm3/a or 12 million Nm3/d, the project will locate in Fuxin, and the SNG product is target to supply Shenyang瀋陽市 and nearing cities as town gas.
On Aug.31, 2009, Datang Group started construction for its 1st coal to SNG project in Hexigten County (Keshiketeng), Chifeng, Inner Mongolia内蒙古自治区赤峰市の克什克騰. With total investment of RMB 25.7 billion, the designed capacity of this coal based SNG project is 4 billion Nm3/a, about 12 million Nm3/d. It will be conducted by three stages, in the 1st stage by the end of 2010, the SNG capacity will have 1.34 billion Nm3/a; in the 2nd stage by the end of 2011, the SNG capacity will get 2.68 billion Nm3/a; in the 3rd stage by the end of 2012, the SNG capacity will reach 4 billion Nm3/a.
In Dec. 2009, the first private SNG project in China invested by Huineng Group匯能集団 was approved by NDRC. With the total investment of RMB 8.87 billion, designed SNG capacity is 1.6 billion Nm3/a, the construction site is Yijinhuoluo County , Ordos, Inner Mongolia .
According to the data from ASIACHEM Consulting, China output natural gas 83 billion Nm 3 in 2009, and the net import of natural gas is about 4.5 billion Nm3. Now, there are about 15 coal-to-SNG projects proposed in China . It is expected that China will have around 20 billion Nm3/a SNG capacity in 2015, accounting for about 10% of consumption then. ASIACHEM considers that developing of coal based SNG projects demonstration and commercial operation will help to provide relatively cheap and reliable source of natural gas for the domestic market, and it will also help boost the negotiation and pricing power when China import natural gas from overseas market.
2010-03-09 China Daily
Sinopec mulls oil refinery JV with ExxonMobil, Aramco
Sinopec, China's largest oil refiner, is considering joining forces with two global oil conglomerates to build an oil refinery able to process 12 million tons of crude per year in Fujian, a source familiar with the matter said on Monday.
The project would expand Sinopec's existing integrated oil refinery and petrochemical complex in the province,.
The project would include cooperation with US' ExxonMobil and Saudi Aramco, the national oil company of Saudi Arabia, said former vice-governor of Fujian Jia Xitai, a deputy to the ongoing National People's Congress (NPC) on Monday. The companies have started a feasibility study on the project, he said.
The petrochemical complex can also produce 1 million tons of ethylene per year, said Jia.
Ethylene is a colorless flammable gas derived from natural gas and petroleum.
The construction project is part of Sinopec's plan to expand its existing joint-venture project in Quanzhou, Fujian province, said Jia.
The company, together with ExxonMobil and Saudi Aramco, started operations at their 40-billion-yuan ($5.86 billion) oil refining and petrochemical complex last year.
Rapidly growing demand for refined oil products in Fujian, an eastern coastal province, is fueling the project, said Jia.
"It will further ensure our energy safety," he said.
Analysts said cooperation between the three companies would bring good synergy to the project. "ExxonMobil has advanced technologies, and Saudi Aramco can offer a sustainable supply of crude oil," said Lin Boqiang, professor with Xiamen University.
Such large-scale petrochemical projects are seen to benefit China's petrochemical industry, as restructuring of the industry and technology upgrades would be the main focus for the sector in the long term, he added.
China adopted a new oil pricing mechanism last year, which is expected to help domestic refiners operate more efficiently, said analysts.
Under the mechanism China altered domestic gasoline and diesel prices eight times last year - including five price hikes and three price reductions.
The country may adjust the price of refined oil more frequently this year, which would "let refiners pass their costs onto end users more easily", said Lin with Xiamen University.
China's petrochemical industry may see 13 to 15 percent year-on-year revenue growth this year, thanks to the economic recovery, according to the China Petroleum & Chemical Industry Association (CPCIA). Total investment in the petrochemical industry is expected to grow by 15 percent this year, it said.
China's petrochemical industry includes oil and gas extraction, oil refining, chemical production and equipment manufacturing. The sector posted turnover of 6.63 trillion yuan in 2009, up 0.3 percent from a year earlier, according to statistics from CPCIA.
藍山屯河化学(Blue Ridge Tunhe Chemical)は3月初め、新疆ウイグル自治区の奎屯ー独山子石化パークでEPSの生産を開始した。
藍山屯河化学は元の社名は新疆屯河工貿（Xinjiang Tunhe Industry and Trade Company)で、2008年に米国の不動産関連の投資会社Blue Ridge Capital と中国のオンライン旅行サービス会社で米国のNASDAQに上場しているeLong, Inc のオーナーのJustin TangとのJVのBlue Ridge Capital Chinaが買収し、改称した。
なお、Blue Ridge Capital Chinaは中国への投資のために14.5億ドルを集め、藍山屯河化学のほかに、不動産、水処理、新エネルギー、環境保護などに投資している。
All-density PE 600 千トン
PP 550 千トン
BTX 600 千トン
EPS 120千トン （藍山屯河化学）
SBR 100 千トン
AsiaInfo Services 2008/4/18
Blue Ridge Capital China Acquires Tunhe Industry and Trade
Blue Ridge Capital China, one of China's biggest PE funds, has completed its acquisition of Xinjiang Tunhe Industry and Trade Ltd., a battered chemical producer based in the northwestern Chinese province of Xinjiang, for USD 90 million, citing a latest announcement by Blue Ridge Capital China.
The subsidiary, now called Xinjiang Blue Ridge Tunhe Chemical Industry Co., Ltd. is mainly engaged in the production of fine chemicals and chemical building materials, the development of water saving technology as well as---
February 20, 2008,
Blue Ridge Raises $1.45 Billion for China Deals
With big takeovers in Europe and the United States hampered by global credit troubles, buyout firms are turning to Asia and Blue Ridge Capital, the New York-based hedge fund, has joined the crowd, raising a $1.45 billion fund for investment in companies in China.
The fund, with an investment period of five years, will look to invest in areas like energy, retail, real estate, technology and consumer products.
Justin Tang, a co-founder of Blue Ridge China, told Reuters that investors were increasingly interested in private equity in China because, unlike in Western markets, it was not dependent on leveraged buyouts.
Blue Ridge China Partners, L.P. is a private equity fund focused on China. Blue Ridge China Partners was founded by members of Blue Ridge Capital, a New York-based global investment firm that was established in 1996, and Justin Tang.
Blue Ridge Capital (BRC) is an Atlanta-based real estate investment company targeting value-added properties in the Southeast. The company specializes in retail centers, but also considers other turn-around or opportunistic real estate investments, offering the potential for value enhancement. Since our inception in 1999, BRC has acquired as a principal 47 real estate assets.
Justin Tang is responsible for the overall strategy and management of eLong, Inc. (NASDAQ: LONG), a leading travel service company headquartered in Beijing with a national presence across China. Expedia, Inc. owns a 52 percent fully diluted stake in eLong, representing 96 percent of the total voting power of eLong. In 2001, Tang led the buyout of eLong’s business from its parent company, Asia.com. Prior to the buyout, Tang was the founder and president of Asia.com. Tang was originally one of the co-founders of eLong.com, and he was responsible for eLong’s $68 US million merger with Mail.com.Prior to founding eLong.com, Tang was a vice president at Oscar Gruss & Son Incorporated, a New York?based investment banking firm. He has also worked for Brookehill Equities, Inc., and Merrill Lynch & Co., and has seven years experience in venture investment and the financial services industry. Tang studied at Nanjing University in China and received his BS degree from Concordia College in the United States. Visit www.elong.com Photography Credits
Blue Ridge Capital employs a small group of talented and dedicated people who handle all aspects of operating a property - leasing, management, and construction - providing our tenants the personal attention they deserve. Our hands-on approach assures incoming tenants that projects are completed on time and at the lowest possible cost, which we pass on in the form of a competitive rental structure.
Blue Ridge Capital operates under the belief that there is no better market in the country to pursue our ambitions than the Southeast - our own "backyard".
Jilantai Takes Caustic
Soda Unit on Stream
On March 6th the first bag of flake caustic soda was made by the second phase 180 000 t/a caustic soda unit of Jilantai Salt Chemical Group Co., Ltd. of China National Salt Industry Corporation, stating that the unit normally came on stream.
This caustic soda unit was constructed to match with the 200 000 t/a polyvinyl chloride unit that will soon start up. The construction on the second phase was started in June 2008. But the completion will be more than one year later than the planned schedule. The company has had the two phase's public facilities linked each other on February 24th.
The project locates in Alashan Economic Development Zone, Inner Mongolia.
Butadiene Makers Enjoy Brisk Demand
Most of China's running butadiene production units have been constructed matched with the ethylene crackers. China has 29 butadiene producers as of 2008, together with a capacity of 1.737 million t/a and a combined output of 1.361 million tons. In 2009, along with the startup of the 120 000 t/a unit of Fujian Refining & Chemical Co., Ltd. and the 120 000 t/a unit of Liaoning Huajin Chemical Industry Group Co., Ltd., China's total capacity of producing butadiene reached 1.977 million t/a.
China's major butadiene manufacturers in 2009
Company Capacity (thousand t/a) Output (thousand tons) Process
PetroChina Jilin Petrochemical Company 230 123 ACN
Sinopec Yangzi Petrochemical Co., Ltd. 206 178 DMF
Sinopec Qilu Company 164 145 one ACN and two DMF units
CNOOC Shell Petrochemicals Co., Ltd. 155 144 ACN
Sinopec Maoming Company 150 133 DMF
PetroChina Lanzhou Petrochemical Company 135 101 ACN
Sinopec Beijing Yanshan Company 135 123 one ACN unit and one DMF unit
Sinopec Shanghai Petrochemical Co., Ltd. 106 118 DMF
Shanghai Secco Petrochemical Co., Ltd. 90 81 NMP
Dongyue Group Commercially Produces Ionic Membrane
Dongyue Group Ltd., China's leading fluorine and silicon materials manufacturer, recently announced it commenced commercial production of ionic membrane that can be used in chlor-alkali production units. The research and development
team of the group that has spent eight years in this project was awarded by the Shandong provincial government on February 22nd, 2010.
In the early March the unit has manufactured qualified membranes that are identified meeting the requirements of design and use. This kind of membrane is made of perfluoro materials. Currently, China's all chlor-alkali companies use imported perfluoro ionic membrane that is sold at RMB10 million per ton.
On February 22nd the technological innovation strategic alliance for the fluorine & silicon functional materials industry initiated by Dongyue Group was officially approved by the Shandong provincial government. The alliance now has 16 members.
寧夏自治区の発展改革委員会はこのほど、神華寧夏煤化集団(神華寧煤:Shenghua Ningxia Coal Industry Group)が寧夏自治区銀川市のアジア最大の石炭化学パーク 東寧夏エネルギー・化学基地(Ningdong Energy & Chemical Base )で年産60万トンのMTO(methanol-to-olefins)を計画していることを明らかにした。
71.77億人民元を投じて、180万トンのメタノールを原料に、60万トンのMTOを建設、30万トンのPEと30万トンのPPを製造する。ほかに、副産品として、LPG 46.6千トン、C4留分 83千トン、C5留分 30.5千トン を製造する。
March 21, 2010 Dow Jones
Formosa Plastics Group: No Talks With Sinopec On China Investment
Taiwan's Formosa Plastics Group is not in talks with China Petroleum Corp., the state-owned oil company also known as Sinopec Group, on any joint investments in China, group executive board member C.T. Lee said Monday.
"There's nothing concrete so far and we're not in talks with Sinopec," Lee told Dow Jones Newswires.
Lee's comments came after the local Economic Daily News, citing unnamed sources, reported that Formosa Plastics plans to team up with Sinopec's 71%-owned Sinopec Zhenhai Refining & Chemical Co. in a 50:50 investment in an ethylene cracker in the Chinese city of Ningbo. Sinopec Group is the parent of the Hong Kong- and Shanghai-listed China Petroleum & Chemical Corp., Asia's largest refiner by capacity.
Formosa Plastics Group operates an integrated refining and petrochemical complex in Mailiao in western Taiwan. The group also has downstream petrochemical operations in Ningbo and in the U.S., and fiber and textile operations in Vietnam.
Lee and other group executives have said the group is interested in investing in naphtha cracking operations in China to supplement its downstream petrochemical plants there, but will insist on majority control. Taiwan's government also currently prohibits Taiwanese companies from investing in naphtha cracking operations in China.
On Monday, Lee said the group will wait for an opportunity to further expand investment in China. "The market is there, so you have to go."
He also said that the group has signed a letter of intent with Brazilian miner Vale S.A. and Anglo-Australian diversified miners BHP Billiton Ltd. and Rio Tinto PLC for the supply of about 12 million metric tons of iron ore annually to the group's planned steel mill in Vietnam.
Since the group is still awaiting the transfer of land by the Vietnam government, construction hasn't started yet, and a commercial agreement for iron ore supply hasn't been signed yet. "We expect supply to start in three years from now, and we will diversify among the suppliers," Lee said.
British company gets EU
exclusivity for PHA supply from world's biggest producer
Chinese biopolymer producer Ecomann of Shenzhen has appointed a British company as its sole European distributor of PHA (polyhydroxyalkanoate). A&O FilmPAC of Olney in Buckinghamshire set up its www.bioresins.eu division in 2008 specifically to supply Chinese-produced biopolymers, initially PLA and then PHA.
Ecomann has been working with A&O FilmPAC since the British company set up its biopolymers division. It has developed its materials in cooperation with local universities in Shenzhen and is currently producing 5,000 tonnes of PHA a year. The company has now built a new factory on a 100 hectare site in the Shandong province of China, which will increase its capacity to 50,000 tonnes from 2012 and says this will make it the world's biggest PHA producer.
This tenfold increase in production capacity is expected to reduce the price of PHA, which is still relatively expensive compared to the conventional plastics it is intended to replace. PHA is a biodegradable or compostable polyester which A&O FilmPAC says blends well with other plastics, fillers and additives. Products made from it can range from soft and rubbery to very hard. A number of PHA grades are currently available from A&O FilmPAC for a variety of applications.
ポリ乳酸（polylactic acid, polylactide, PLA）
Biotechnology Co., Ltd. is a professional high-tech enterprise
engaged in research and development, production and sales of
full-biodegradable materials and related applications. Ecomann
has completely independent intellectual property rights, and its
products are mainly exported to Europe, United States and Japan.
Shandong Ecomann Biotechnology Co., Ltd, the wholly-owned subsidiary of Shenzhen Ecomann, is located in Zou-Cheng City, Shandong Province. Shandong Ecomann holds an annual output of 100, 000 tons and is the industrialized production base for biodegradable materials.
With world-leading Industrial genetic engineering (IGE) technologies, Shandong Ecomann produces bio-polymer materials via fermentation. This product is a completely new kind of biodegradable thermoplastics, with a character of bio-compatible, biodegradable, piezoelectric, and good performance of utility and processing. It holds the basic properties similar to polyolefine, and can be molded in process of drawing, molding, thermal plastics processing, etc. by traditional machines and can be used as substitute of vast majority of petroleum-based plastic products. Furthermore, its degradation rate varies to meet different application needs, by way of the co-component control. After the final degradation, its final product comes into carbon biological cycle and thus constitutes a complete cycle of the green economy. The success of industrialization and application of the enterprise's scientific research will provide a guarantee with the world's leading technology for solving oil resources dependency, extending industrial chain of the agriculture, reducing the white pollution and promoting sustainable economy.
March 25, 2010 Bloomberg 要チェック
Sinopec to Build Gas Chemicals Plant in Kazakhstan
China Petroleum &
Chemical Corp., the Hong Kong-listed company known as Sinopec,
won a contract to build a $1.7 billion polypropylene plant in
Sinopec agreed to buy and export all the polypropylene produced at the facility, Kazakh Deputy Oil and Gas Minister Aset Magauov told reporters today in Almaty. The Export-Import Bank of China will provide a $1.26 billion loan for the project, he said.
TOO Kazakhstan Petrochemical Industries, 51 percent held by the London-traded unit of state-owned KazMunaiGaz National Co., will invest $300 million of its own money, and Kazakhstan will provide a “budget credit” of $140 million, Magauov said.
The polypropylene plant will form part of a gas chemicals complex, which will be able to produce 450,000 metric tons of polypropylene and 800,000 tons of polyethylene a year once completed in 2014, according to KazMunaiGaz. LyondellBasell Industries AF SCA, which Kazakhstan had sought as a partner for the project, filed for bankruptcy last April.
第一期として、Tenghiz ガス田のドライガスからKulsary 近郊でエタン抽出を行い、Atyrau でエタンクラッカーとプロパン脱水素設備、PE、PPプ ラントを建設し、第二期ではKashagan ガス 田のドライガスを利用してコンプレックスを拡大するとい うもの。
第一期はエチレン120万 トン、プロピレン40万 トン、HDPE 40万 トン、LLDPE 40万 トン、PP 40万 トンを考えており、12億 ドルの投資を想定、最終的にはPE 150万 トン、PP 45万 トンを計画している。
David Harpole, a LyondellBasell spokesman in Houston, said March 19 that the company had informed the partners of its withdrawal from the venture.
Mar 25, 2010 Reuters
Sinopec to build $1.3 bln Kazakh plastics plant
A unit of China's Sinopec will build a $1.26 billion polypropylene production plant in Kazakhstan, Kazakh Deputy Oil and Gas Minister Aset Magauov said on Thursday.
The facility will be part of a $6.3 billion gas processing complex that Kazakhstan plans to build in its western Atyrau region. The government has said South Korean banks and companies are also looking at investing in the project.
The central Asian state signed the contract with Sinopec Engineering last week, Magauov told reporters on Thursday.
"China's Eximbank acts as an investor (providing) loans," Magauov said. "Sinopec Engineering is a contractor."
He added that Sinopec would also export the plant's products.
Kazakhstan is central Asia's largest oil producer and has sizeable gas reserves but mostly exports crude oil and gas to be refined abroad. Domestic refining projects are part of the government's strategy to diversify the economy.
Last year Sinopec Engineering won another contract in Kazakhstan to build a new facility at the Atyrau oil refinery.
State-run Sinopec is Asia's largest refiner and a major producer of chemicals including ethylene, the basic building block for the production of many chemicals and plastics.
Polyols Capacity Expanded in Hengfeng
China PUworld reported on March 16th that Shaoxing Hengfeng Polyurethane Industry Co., Ltd. increased two polyols units and two polyols blend units in January 2010, making its total production capacity of polyols expand from 60 000 t/a to 100 000 t/a and that of polyols blend from 20 000 t/a to 50 000 t/a. The four new units have fully operated from February. The company is a leading supplier of foaming materials for refrigerator in China.
2010-03-30 China Daily
Rio employees receive 'tough' jail sentences
Canberra 'respects' China's legal system
Four employees of British-Australian mining giant Rio Tinto were sentenced on Monday to jail terms ranging from seven to 14 years for taking bribes and stealing commercial secrets - a verdict the Australian government described as "very tough".
The Shanghai No 1 Intermediate People's Court sentenced Stern Hu, an Australian national who headed Rio's iron ore operations in China, to seven years in prison for taking bribes, and five years for stealing commercial secrets. However, he will serve 10 years in jail, the court said. Hu was also fined 1 million yuan ($146,000).
"On any measure this is a very tough sentence," said Australia's Foreign Minister Stephen Smith. "It is a tough sentence by Australian standards. As far as Chinese sentencing practice is concerned, it is within the ambit or within the range," he said.
But he added the Australian government respected China's legal and judicial processes and that the sentencing would not affect Australia's ties with China.
The other three defendants, all Chinese nationals - Liu Caikui, Ge Minqiang and Wang Yong - were sentenced to seven, eight and 14 years behind bars respectively. It is believed Wang got the longest jail term for receiving the highest amount of kickbacks from a steel tycoon in Shandong province.
The four were convicted of receiving over 92 million yuan in bribes.
The court said in the verdict that the defendants had also obtained confidential information from Chinese steel mills that had been used as a bargaining chip to drive up the price that China pays for its iron ore imports from the world's three top suppliers: Rio, BHP Billiton and Vale.
It said the four had "damaged the competitiveness" of, and "caused severe losses" to, the Chinese steel industry and hurt China's national interests.
The court on the same day also ruled on a second case - that of Tan Yixin and Wang Hongjiu, executives at two major Chinese steel mills, Shougang Corp and Laigang - for allegedly leaking commercial secrets to Rio's employees. But details of the verdict were not immediately announced.
The two were detained around the same time as Rio's employees last year.
Lawyers representing Rio's four employees said they were yet to meet with their clients to decide whether to lodge an appeal.
While acknowledging evidence that bribery acts did occur among Rio's employees, Smith said there were "serious unanswered questions" regarding the commercial secrets charges. That part of the trial was held in closed court and no details have been made public.
He said the issue was not only of concern to Stern Hu and the other accused, but also more generally and widely to the Australian and international business community. China had "missed a substantial opportunity" to bring clarity to the notion of commercial secrets, he said.
Shortly after the announcement of the verdicts, Rio Tinto posted a statement on its website, quoting Sam Walsh, chief executive of Rio Tinto Iron Ore, as saying that receiving bribes is "a clear violation of Chinese law and Rio Tinto's code of conduct" and that the company will "terminate employment" of the four men.
Tom Albanese, Rio's chief executive, said: "I am determined that the unacceptable conduct of these four employees will not prevent Rio Tinto from continuing to build its important relationship with China. This is a high priority for me personally."
The Rio case, together with search engine Google's recent announcement to pull out of the Chinese mainland, has been widely seen by foreign media as a sign that foreign business sentiment is souring against China, where legal boundaries are blamed as vague.
Chen Fengying, a researcher at the China Institutes of Contemporary International Relations, said China had dealt with the case in accordance with Chinese law. She refuted the foreign media's association of the case with the business environment in the country. Instead, the case reflects the fact that "China is getting increasingly international".
"It is unavoidable that bribery cases involving multinational firms in China will increase as the country integrates more closely with international business community, which is true across the world. More bribery cases will be exposed as China learns how to cope with them," she said.
Caustic Soda News
Haobang Chemical to Start Caustic Soda Project
Shandong Haobang Chemical Co., Ltd., a subsidiary of Shandong Dadi Salt Chemical Group, got ready to construct a 300 000 t/a caustic soda project (first phase of 600 000 t/a project) in Shouguang 寿光、Shandong.
SYRP Commenced Production of Caustic Soda Unit
The new 100 000 t/a caustic soda production unit of Shanxi Synthetic Rubber Group Co., Ltd. (SYRP) started up in early March. This unit was matched to the 30 000 t/a chloroprene rubber project.
Taiyuan Chemical Started up Caustic Soda Facility
The chlor-alkali branch of Taiyuan Chemical Industry Co., Ltd. recently started commercial production of 60 000 t/a ionic membrane caustic soda making facility that uses technologies licensed from a Japanese...............
Jiangsu Anpon Electrochemical Started Installation for Caustic Soda Unit
The civil construction for the 120 000 t/a ionic membrane caustic soda unit of Jiangsu Anpon Electrochemical Co., Ltd. has been completed.
HNCC to build 1 million t/a Coal-to-MEG Capacity
Recently, Anhua (Anyang Chemical安陽化学) Company - a subsidiary of Henan Coal & Chemical Industry Group (HNCC河南煤業化工) held a groundbreaking ceremony for its 200kt/a mono-ethylene glycol (MEG) project in Anyang, Henan Province.
With total investment of RMB 1.35 billion, this MEG project, to be fed with surplus syngas from Anhua as raw material, is based on Tongliao GEM Chemical coal-to-MEG process.
This is the fifth coal-to-MEG project invested by HNCC following the four previously announced. November 17-18th 2009, two such project of 200kt/a capacity each jointly developed by HNCC and Tongliao GEM Chemical Company started construction in Mengjin County, Luoyang City and Yongcheng Town of Shangqiu City respectively, both sites located in Henan Province. One week later on November 26th, the same JV partners laid corner stone for another MEG project of same capacity in Yongcheng Coal Zhongxin Chemical’s methanol project site located in Huojia County of Xinxiang City, Henan province. Thereafter in early February 2010, Zhongyuan Dahua Chemical - another subsidiary of HNCC also launched a 200kt/a MEG project in Puyang, Henan.
この製法は中国科学院 福建物質構造研究所と江蘇省の丹化（Danhua） グループ及び上海のGEM Chemical Technology により開発された。石炭ベースのsysgas か らMEGを 生産する。
丹化グループ側で300ト ン/年 のパイロットプラントと、10,000ト ン/年 のデモンストレーションプラントを建設、後者は2007年12月 から1年 以上にわたり、順調に操業を続け、このたび、この製法が成功したと評価された。
中国では余り不思議なことではないが、一方で新製法のテストをしながら、その結果を確認する前に、2007年8月に通遼 GEM Chemical が内蒙古の通 遼 （Tongliao） 経済開発地域で240百万ドルを投じて200千トン/年のCoal-to-MEGプラントの建設を開始した。
同社は中国科学院と丹化グループ及びGEM Chemical のJVで、当初は2008年 下期にスタートする予定であったが、現在も建設中で、2009年末にスタートの予定となっている。
原料として褐炭を使用するもので、5年 のうちに能力を120万 トン/年 に拡張する計画。
In 2009, HNCC invested
Danhua - SSE listed company and become the second largest
shareholder of Danhua. And in March 2010, Danhua and HNCC signed
an agreement for Coal-to-MEG investment, which mandated that all
new investments of the parties thereafter involved in coal-to-MEG
projects shall be done jointly. So Tongliao GEM has to join with
HNCC Coal-to-MEG projects.
China imported more than
5.8Mt of MEG in 2009, increasing by 12% over 2008. According to
the data from ASIACHEM Consulting, China MEG consumption is
expected to exceed 10.5Mt/a by the year 2012 when the shortage of
supply may reach up to 7.05Mt/a. After completion of all five
projects, HNCC will form 1Mt/a of totalized MEG capacity,
accounting for about 10% of total MEG consumption.
HNCC was set up in December 2008 by reorganization of 5 coal business related companies, namely Yongmei (Yongcheng Coal永城煤電) Group, Hemei (Hebi Coal 鶴壁煤業) Group, Jiaomei (Jiaozuo Coal 焦作煤業) Group, Zhongyuan Dahua中原大化, and Henan Provincial Town-Gas Group河南省煤気集団. With the possession of 40Bt and more coal reserve, HNCC realized RMB 103.5 billion of revenue and 56.98Mt of coal output. The group takes an active part in coal chemical development and, in addition to the mentioned MEG projects, cooperates with SINOPEC in a 1.8Mt/a methanol to 600kt/a olefins project.
Anhua Company is the former Anyang Chemical Fertilizer Plant, it has existing 240 kt/a ammonia, 420 kt/a urea and 200 kt/a compound fertilizer capacity.
Sinopec to pay $4.65b in oil sands deal
China's state-owned Sinopec plans to buy ConocoPhillips' stake in the huge Syncrude project in Canada's oil sands for $4.65 billion, marking one of the country's largest investments ever in North America.
ConocoPhillips, the US-based oil major, said on Monday it will sell its 9.03 percent interest in the Syncrude Canada Ltd project to China's top refiner in a deal set to close in the third quarter.
Canadian Oil Sands 36.74 Imperial Oil Resources 25.00 Petro-Canada Oil and Gas 12.00 Conoco-Phillips Ois Sand 9.03 Nexen Oil Sands Partnership 7.23 Murphy Oil 5.00 Mocal Energy
5.00 合計 100
The acquisition is not
the first investment by a Chinese company in Canada's oil sands
but it is the largest.
It underlines a resurgence in interest in the vast but difficult-to-extract energy resource located in the province of Alberta. Investment in the oil sands has jumped since crude prices shot past $80 a barrel with the global economic recovery gaining traction.
The price "is more than the market was expecting -- they were expecting about $4 billion," said Phil Skolnick, an analyst with Genuity Capital Markets.
China has spent billions of dollars acquiring energy and mining assets around the world to help feed its fast-growing economy.
The deal differs from other Chinese oil sands acquisitions, which involved early-stage projects, FirstEnergy Capital Corp analyst Mike Dunn said. Syncrude, the largest project in the oil sands, has operated since 1978, and can now pump out 350,000 barrels a day, roughly 13 percent of Canada's overall oil output.
For ConocoPhillips, the deal is part of a two-year, $10 billion disposition program. When it first said it was putting the stake on the block last October, analysts pegged the value at $3.6 billion to $4 billion.
"This deal goes a long way in helping them reach their $10 billion asset-sale goal. It's probably a bigger chunk than they had anticipated," said Allen Good, analyst with Morningstar.
The oil sands make up the largest crude deposit outside the Middle East, a resource attracting a Who's Who of the global oil industry willing to pay extra in development costs in exchange for a secure supply in a politically stable country.
Sinopec already has an oil sands stake. Last April, it bought an additional 10 percent interest in Total's planned Northern Lights project for an undisclosed sum. Also in 2009, PetroChina acquired a majority stake in leases held by Athabasca Oil Sands Corp for $1.9 billion.
Sinopec's latest deal requires approvals from governments in Canada and China. Canada recently subjected deals involving foreign state-owned enterprises to more regulatory scrutiny, but has not rejected any oil sands transactions.
Asked about the deal during an event in Calgary, Canadian Finance Minister Jim Flaherty simply noted that large investments must meet tests on whether they are in the national interest.
"There are a couple of standards that have to be met and I'm sure the process will be followed," he told reporters.
Analysts said they do not see regulators blocking the deal, especially with Sinopec buying a minority stake in Syncrude.
"We've already seen a number of oil sands transactions that have been applauded by both the Alberta and federal governments, and there's basically a green light given to foreign entities," Skolnick said.
Syncrude's largest owner, Canadian Oil Sands Trust, was seen as a prospective buyer of ConocoPhillips' Syncrude stake. Officials at the trust, which has a 37 percent interest, were not immediately available for comment.
Its trust units jumped 5 percent to C$32.22 on the Toronto Stock Exchange. The value of the deal showed the trust is likely worth more than the market had been affording it, although not the price Sinopec was paying, Skolnick said.
Syncrude's other owners are Imperial Oil Ltd, Suncor Energy Inc, Nexen Inc, Murphy Oil Corp and Nippon Oil Corp unit Mocal Energy.
Conference 2010 will be held in Shanghai, China
In 2009, China imported MEG (Mono Ethylene Glycol) 5.8 million ton, up 12% comparing 2008. From 2000 to 2008, China MEG consumption annual growth rate is 18.4%, at the same time the domestic MEG supply growth rate is 12.3%, the domestic shortage of MEG supply has attracted the investment of coal to MEG. As one of five industrial demonstrations of modern coal chemical industry, the coal to MEG is listed the China State Petrochemical Stimulus Package in 2009.
The global first Coal-to-MEG industrial demonstration project - Tongliao GEM Chemical has started up 200,000 t/a project and produced on-spec MEG product by the end of 2009. It is expected to further debug and start commercial operation in 2010. In addition, other research institutions including Shanghai Coke, Hubei Institute of Chemicals, Tianjin University and other organizers have also started the R&D and even pilot of Coal to MEG. Many investors like Henan Coal Chemical Industry Group, Shanghai Huayi Group, Hebei Kailuan Group, Shaanxi Coal Chemical Industry Group, Henan Hebi Baoma and Shandong Hualu Hengsheng have planned Coal to MEG projects.
In May 27-28, 2010, t he 1st Coal-to-MEG Conference will be held by ASIACHEM in Shanghai, China. The upcoming event will focus on PET & MEG Industry Outlook; competitiveness of Mid East & China based MEG; Coal-to-MEG Research & Development Review; and Coal-to-MEG Industrial Demonstration as well as Coal-to-MEG Key Process & Innovation etc.
上海のGrand Metropark Jiayou Hotel
連絡先 ASIACHEM （email@example.com 電話:8621-51386466）
Sinopec ZRCC starts up
ethylene cracker project
On Apr. 20, 2010, Zhenhai Refining & Chemical Company (ZRCC), a subsidiary of Sinopec, has started up the 1 Mt/a ethylene cracker project and produced on-spec product in Zhenhai, Ningbo , Zhejiang Province.
With total investment of RMB 2.2 billion, the project was started construction in Nov. 2006. In Feb. 2010, the PP and MTBE/butene-1 units were started up and produced on-spec products. In Mar. 2010, the PE unit was started up and produced on-spec product.
Naphtha feedstock will be self supplied. According to the official website of ZRCC, the company oil processing capacity has reached 23 Mt/a. The derivatives units and technology providers announced by ZRCC officially as follows:
|EO/MEG||650 000 t/a||Dow Technology|
|LLDPE||450 000 t/a||Univation Technology|
|PP||300 000 t/a||Sinopec Technology|
|BTX||600 000 t/a||Sinopec Technology|
|Butadiene||160 000 t/a||Sinopec Technology|
|Gasoline Hydrogenation||700 000 t/a||Sinopec Technology|
|110 000 t/a||Sinopec Technology|
|40 000 t/a|
|Ethyl Benzene||650 000 t/a||Sinopec Technology|
|620 000 t/a||(JV)Lyondell Technology|
|285 000 t/a|
|PG||100 000 t/a||(JV)Lyondell Technology|
|上海藍星新材料(Blue Star Group)||上海市浦東区||40千トン||3段階 合計200千トン計画の第一段階|
|CNOOC Tianye Chemical||内蒙古||60千トン||CNOOCが尿素、メタノールメーカーの
|Yongmei Group||河南省開封市||40千トン||当初計画は 20千トン|
|Shenghua Ningxia Coal Industry||寧夏回族自治区銀川市||60千トン|
Production of Hydrogen Peroxide
Shandong Hengtong Chemical Co., Ltd. was officially announced merged into Shandong Yangquan Coal Industry (Group) Co., Ltd. on March 26th with a ceremony that together announced the startup of 200 000 t/a hydrogen peroxide plant and the construction of 400 000 t/a ionic membrane caustic soda plant in Tancheng of Shandong province.
Shandong Hengtong Chemical Industry Limited Company is a national large chemical enterprise which is formed with coal chemical industry, hydrochloric chemical industry and heat and power remuneration. It is the biggest fertilizer and chemical production found among southern Shandong province and northern Jiangsu province.
Sinopec Zhongyuan Petrochemical Launches MTO Project
Sinopec Zhongyuan Petrochemical Corp. Ltd. (ZPC 中原石化） held a groundbreaking ceremony on April 16th to start construction of 600 000 t/a methanol-to-olefin project in its Puyang site, Henan province, remarking that Chinese enterprise has made important progress in developing coal based olefin technology. A new 600 000 t/a methanol-to-olefin unit and a new 100 000 t/a polypropylene unit will be constructed....
Shaanxi Launches DMC Project
Construction on the first phase 50 000 t/a dimethyl carbonate (DMC) project was started on April 10th in Jinjitan town, Yulin of Shaanxi province. The project using methanol and carbon dioxide as raw materials is hosted by Yunlin Yunhua Green Energy Company Ltd, is the first phase of the planned 200 000 t/a DMC project. It is designed to consume 140 000 tons of carbon dioxide per year, saving 89 thousand tons of coal and reducing carbon dioxide emission by 369 thousand tons.
Evonik Starts up New Plant in China
Evonik Industries has started up a production plant for active pharmaceutical ingredients in Nanning 南寧 of Guangxi region 広西チワン族自治区, southern China with an official opening ceremony on April 15th. The plant reportedly has been set up in collaboration with a European pharmaceutical company for which Evonik will produce various active ingredients under a multi-year supply contract and in compliance with cGMP (current Good Manufacturing Practices).
Gaoqiao Expands Phenol Capacity
Sinopec Shanghai Gaoqiao Petrochemical Company reported on April 21st that it has expanded its 2# phenol unit to 100 000 t/a from 60 000 t/a through technical renovations that also reduces the consumption of cumene from 1.451 tons to 1.339 tons per ton of phenol and the consumption of energy from 6.5 million cal to 4.08 million cal. The discharge volume of waste water also decreased.
After expansion, the company's total capacity to make phenol reaches 360 000 t/a.
Taiwan's Loyal starts
construction for EPS project in Xinjiang
On May 14, 2010, Taiwan based Loyal Group 見龍化学工業started construction for its Expandable Polystyrene (EPS) project in Kelamayi(克拉馬依), Xinjiang新疆ウイグル自治区.
With total investment of RMB 200 million, the project will have total EPS capacity of 160 kt/a by 2 stages construction. The EPS project will be conducted and operated by Xinjiang Longqiao (新疆龍橋) Engineering Plastics Company - a wholly subsidiary of Loyal Group.
This time is the first stage of Longqiao EPS project; it will build an 80 kt/a EPS unit and start up in Apr. 2011. Feedstock of styrene will be secured from PetroChina Dushanzi Petrochemical, and the EPS product will supply to northwest China and the Mid-Asia market.
In early Mar. 2010, Blue Ridge Tunhe Chemical Company (藍山屯河化学)has started up its EPS project in Kuitun-Dushanzi (奎屯-独山子) Petrochemical Park, Xinjiang. The SM feedstock of Blue Bridge Tunhe is also sourced from PetroChina Dushanzi Petrochemical by pipeline, while the EPS product will mainly supply Xinjiang and northwest China areas.
2010/3/29 米投資会社の買収企業、EPSの 生産開始
Loyal is the so called world largest EPS producer. According to the company, it’s EPS capacity in 2009 and 2010 as following table shows:
|Location||In 2009||In 2010|
|Ningbo, Zhejiang 浙江省寧波市||180KT||180KT|
|Jiangyin, Jiangsu 江蘇省江陰市||300KT||400KT|
|Dongguan, Guangdong 広東省東莞市||360KT||440KT|
|Kaohsiung, Taiwan 高雄||40KT||140KT|
1973 Logyal Group 設立
1976 高雄工場 EPS製造開始
1989 訪中 進出決意
1995 Jiang Yin-He-Qiao Chem 設立
1996 Ningbo Xin-Qiao Chem 設立
1998 Jiang Yin Long-chi Packing Material 設立、包材事業
2000 Jiang Ying Xin-Long-Men Plastics 設立
2001 Qindao Xin-Long-Wang Packing 設立
2002 Dong Guan Xin-Chan-Qiao Plastics
2003 Beijing San-Xin Plastics Recycling 再生工場
2004 Tianjin Xin-Long-Qiao Engineering Plastics 設立
2005 Ningbo Chan-Qiao Engineering Plastics 設立
2007 Loyal Chemical Industrial (Poland)
Xin-Long-Guang Plastics 2nd Taiwan plant
Shanxi-Nairit Inaugurates Production of Chloroprene Rubber Factory in Shanxi
On May 3rd, Shanxi-Nairit Synthetic Rubber Co Ltd, a joint venture between Armenian Nairit CJSC (40%) and Shanxi Synthetic Rubber Group Co Ltd (60%), a subsidiary of ChemChina, held an in inauguration ceremony for production of 30 000 t/a chloroprene rubber unit in Yanggao county of Shanxi province.
2010-05-25 China Daily
Wuhan Steel gets green light for Africa ventures
China's third largest steelmaker Wuhan Iron and Steel Group on Monday received approval from the National Development and Reform Commission (NDRC) for two overseas acquisition deals in Africa that are expected to contribute nearly 2 billion tons of iron ore deposits.
The government cleared Wuhan Steel's plan to acquire the Soalala iron ore deposit in Madagascar with two other companies and the company's stake buy in a Liberian iron ore project.
The exploration license for the Soalala iron ore project was granted to Hong Kong-based Wisco Guangxin on May 8, a joint venture company 42 percent owned by Wuhan Steel, 38 percent by the Guangdong Foreign Trade Group Co and 20 percent by Kam Hing International Holdings, according to a statement released by Hong Kong-based Kam Hing International Holdings.
The project involves an area of more than 430 square kilometers and contains more than 800 million tons of reserves available for exploitation.
Wuhan Steel also signed an agreement on March 12 to pay China-Africa Development Fund $68.46 million for a 60 percent stake in China Union Investment Co, which owns an iron ore deposit located in central Liberia.
The project is the largest overseas investment in Liberia, with a deposit of 1.31 billion tons of iron ore reserves and is connected to ports via an 80-kilometer railway.
Wuhan Steel has been seeking to invest in more overseas iron ore assets to cut reliance on expensive imports.
"We aim to be self-sufficient in iron ore supplies in three to five years," Deng Qilin, chairman of Wuhan Steel, said in March.
Wuhan Steel acquired a 21.52 percent stake in Brazilian iron ore miner MMX Mineracao e Metalicos SA for $400 million last year.
The company also received approval from the Australian government for a A$271 million ($249 million) investment in Centrex Metals Ltd in November, and also for a 60-percent stake in the iron ore rights of five Centrex projects in South Australia that could contain up to 2 billion tons of resources.
"Africa has huge iron ore resources. But iron ore transportation requires advanced infrastructure development due to the large quantities involved," said Yu Liangui, a senior steel analyst with Mysteel.com.
"It will require huge investment to build railways and ports in Africa, which might be the reason why Africa is not the first choice for Chinese enterprises."
"However, with the ore prices surging, China needs to diversify its iron ore supplies to break the monopoly of the three global miners - Rio Tinto, BHP Billiton and Vale," he said.
Rio Tinto has increased ore prices by $10 per ton in the second quarter compared with the first quarter. Accordingly its 63.5 percent grade iron ore powder now costs $123 per ton (Free On Board), while iron ore lumps are at $138 per ton.
The price increase in the second quarter is expected to push costs for Chinese steelmakers by an additional 40 billion yuan based on the import volume in April.