Will China-US trade war impact textile and apparel industry? – After Fed increased interest rate on Mar 21, US President Donald Trump signed a presidential memorandum on Mar 22 which could impose tariffs on up to $60 billion of imported products from China – China USA trade war textile apparel industry

China USA trade war textile apparel industry China USA trade war textile apparel industry  China USA trade war textile apparel industry  China USA trade war textile apparel industry  China USA trade war textile apparel industry  China USA trade war textile apparel industry  China USA trade war textile apparel industry  China USA trade war textile apparel industry  

Will China-US trade war impact textile and apparel industry?

Source :CCFGroup 

After Fed increased interest rate on Mar 21, US President Donald Trump signed a presidential memorandum on Mar 22 which could impose tariffs on up to $60 billion of imported products from China. In addition, US will restrict China’s enterprises to invest and conduct M&A (merge and acquisition) in US. As soon as the news released, a heated discussion appeared on the market. In terms of textile and apparel industry, US is the traditional export market of China’s textile and apparel, but the exports to EU, Japan and ASEAN cannot be neglected.

  1. Exports of China’s textile and apparel to US account for nearly 17% of total.

Export value of China’s textile and apparel totaled $268.6 billion in 2017, including 45.4 billion from US which accounted for 16.9% of total exports.

China USA trade war textile apparel industry

EU stands as the largest export market of China’s textile and apparel for nearly ten years, but in recent years, its share slid somewhat to 18.2% in 2017. On the contrary, US shared more, up to 16.9% in 2017. Before 2012 Japan kept the third largest export market of China’s textile and apparel, followed by ASEAN, while after 2012, ASEAN surpassed Japan and its share moved up to 12.9% in 2017 from 6% in 2008, and Japan’s fell to 7.6% from 12.8% in 2009. If textile and apparel industry is involved in trade war, the export will be significantly impacted.

China USA trade war textile apparel industry

From above chart, China’s textile and apparel imports from US take up only around 3% of total and keep stable for years, while the imports from ASEAN surged to 23.9% in 2017, from Japan decline and from EU inch up.

China USA trade war textile apparel industry

  1. Imports from China accounts for nearly a half on US textile and apparel market.

China dominates imports of US textile and apparel with a share of 48.9% in 2017. The second largest import origin is ASEAN with a share of 12.9%. However, exports of US textile and apparel to China account for much less.

China USA trade war textile apparel industry

In 2017, export value of US textile and apparel amounted to $22.67 billion and import one totaled $105.99 billion. Exports of US textile and apparel to China accounted for 4.2% of total in 2017.

In conclusion, US takes up nearly 17% of China’s textile and apparel exports while China accounts for nearly 50% in US textile and apparel imports. It indicates that US has higher import dependency on China’s textile and apparel.

Related Topics

-Trade war looms – On 22 March President Donald Trump was expected to stick to his promise of imposing trade tariffs against China, aimed at reducing the country’s $375bn China trade deficit – Trade war looms China USA

EU chems worried over potential trade wars after US steel tariffs – Cefic DG – EU chems potential trade wars US steel tariffs Cefic

-Europe, China warn Trump of response if trade war with U.S. Erupts – – Europe and China warned President Donald Trump on Thursday they would respond in the event of a trade war with the United States, with one Brussels official saying retaliation could also target goods from areas governed by his Republican Party – Europe China trade war USA

Please follow and like us:

US May benzene contracts settle lower on longer global supply – USA May benzene contracts global supply

USA May benzene contracts global supply USA May benzene contracts global supply  USA May benzene contracts global supply  USA May benzene contracts global supply  USA May benzene contracts global supply  USA May benzene contracts global supply  USA May benzene contracts global supply  

US May benzene contracts settle lower on longer global supply

 Source:ICIS News

HOUSTON (ICIS)–US May benzene contracts settled 6 cents/gal ($18/tonne) lower from April, putting prices at $2.93/gal free on board (FOB) US Gulf, as global supply lengthened, ICIS confirmed on Tuesday.

USA May benzene contracts global supply
Photo by Cultura/REX/Shutterstock

The May settlement was the fifth consecutive month of decreases since contracts hit a 2017 high in December.

The $2.93/gal settlement was in line with expectations from market players towards the end of last week.

Spot benzene prices trended lower throughout most of the month, as lengthening supply in Asia and some downstream styrene turnarounds depressed prices, even while crude oil prices firmed and spot toluene prices, the feedstock for on-purpose benzene units, firmed on stronger gasoline markets.

On-purpose benzene economics are currently unfavourable for toluene disproportionation (TDP) units, while stronger values for paraxylene (PX) have kept economics for selective toluene disproportionation (STDP) units relatively healthy.

US benzene contracts usually settle on the last working day of the prior month and are heavily influenced by movements in spot prices.

Major US benzene producers include ExxonMobil, Flint Hills Resources, LyondellBasell, Marathon Petroleum, Shell and Phillips 66.

USA May benzene contracts global supply

By Zachary Moore

Related Topics

-Asia top stories – weekly summary – China benzene price started to drop in the end of April after rising initially at the start of the month – Asia terephthalic acid PTA benzene

-Europe PET market braced for potential impact of BP PTA force majeure – Players along the European polyethylene terephthalate (PET) chain were bracing themselves on Friday for a further squeeze on supply in the event that an upstream force majeure lingers into the second week of April – Europe PET market BP PTA

Prices of paraxylene in Europe are growing – The players of the polyethylene terephthalate (PET) market are preparing for higher production costs amid rising prices for raw materials – paraxylene – Paraxylene Prices Europe polyethylene terephthalate PET

-European PET price up amid Plastivert, Lotte, Equipolymers March planned shutdowns – European spot polyethylene terephthalate prices edged higher Wednesday amid a flurry of planned March shutdowns at Equipolymer, Plastivert and Lotte – European PET price Plastivert Lotte Equipolymers

Please follow and like us:

DuPont, Archer Daniels Midland open bio-plastic pilot plant in Illinois – DuPont Industrial Biosciencesand Archer Daniels Midland Company announced the opening of the world’s first bio-based furan dicarboxylic methyl ester (FDME) pilot production facility in Decatur, IL. – DuPont Archer Daniels Midland bioplastic pilot

DuPont Archer Daniels Midland bioplastic pilot DuPont Archer Daniels Midland bioplastic pilot  DuPont Archer Daniels Midland bioplastic pilot  DuPont Archer Daniels Midland bioplastic pilot  DuPont Archer Daniels Midland bioplastic pilot  DuPont Archer Daniels Midland bioplastic pilot  DuPont Archer Daniels Midland bioplastic pilot  

DuPont, Archer Daniels Midland open bio-plastic pilot plant in Illinois

  
DuPont Archer Daniels Midland bioplastic pilot

DuPont Industrial Biosciencesand Archer Daniels Midland Company announced the opening of the world’s first bio-based furan dicarboxylic methyl ester (FDME) pilot production facility in Decatur, IL.

The plant is the centerpiece of a long-standing collaboration that will help bring a greater variety of sustainably sourced biomaterials that are not derived from petroleum or coal.

Nearly one-tenth of the world’s oil is used to make everyday plastic products as demand grows for bio-based products.

DuPont and ADM’s new bio-based FDME aims to come up with breakthroughs that will make bio-based plastic competitive.

FDME is a molecule derived from fructose that can be used to create a variety of bio-based chemicals and materials. Fructose is typically derived from corn and is used as to sweeten soft drinks and other beverages.

“We’re confident FDME is both the more sustainable option and the better-for-business option,” said Michael Saltzberg, global business director for Biomaterials at DuPont Industrial Biosciences. “This molecule, and its numerous applications, will be high-performing, cost-effective and better for the environment. ADM’s expertise in agricultural value chains and the chemistry of carbohydrates makes them the best possible business partner on this initiative. Our goal is to bring this game-changing technology to commercial scale as quickly as possible.”

“One of the first FDME-based polymers under development by DuPont is polytrimethylene furandicarboxyate (PTF), a polyester made fromDuPont’s proprietary Bio-PDO(1,3-propanediol). PTF is a 100 percent renewable polymer that, in bottling applications, can be used to create plastic bottles that are lighter-weight, more sustainable and better performing.

Research shows that PTF has up to 10-15 times the carbon dioxide barrier performance of traditional PET plastic, which results in a longer shelf life. With that better barrier, companies will be able to design significantly lighter-weight packages, lowering the carbon emissions and significant costs related with shipping carbonated beverages, a release stated.

DuPont has shifted to bio-materials. It sold off its petroleum-based nylon operations that are now owned by Invista, a Koch company.

A recent DuPont venture in Iowa that used corn stover – plant material left behind after corn cobs are harvested – was shut down. The plant made ethanol for for clean fuels.

Another venture with British company Tate & Lyle in Tennessee produces a key technology in DuPont’s Sorona bio-based fiber that is used in apparel or carpeting.

DuPont’s businesses are now part of DowDuPont and will be spun off into a company that will carry the DuPont name.

Related Topics

-FDCA (2,5-furandicarboxylic acid) biorefineries – FDCA has two carboxylic acid groups, which makes it a suitable monomer for polycondensation reactions with diols or diamines – FDCA furandicarboxylic acid PEF Polyamides

-Synvina extends PEF pilot phase – Amsterdam-based Synvina CV is planning to extend the pilot phase of its FDCA (furandicarboxylic acid) production by 24 to 36 months in order to “optimise” future commercial-scale production – Synvina PEF pilot phase

Please follow and like us:

DOMO Chemicals’ Première at NPE 2018 Underlines Its Ambition on the US Market – For the first time DOMO Chemicals, a German based worldwide operating polyamide expert and material engineering company, is present at the NPE 2018, the plastics show which takes place in Orlando, FL, from 7 until 11 May – DOMO Chemicals Première NPE 2018 USA Market

DOMO Chemicals Première NPE 2018 USA Market DOMO Chemicals Première NPE 2018 USA Market  DOMO Chemicals Première NPE 2018 USA Market  DOMO Chemicals Première NPE 2018 USA Market  DOMO Chemicals Première NPE 2018 USA Market 

DOMO Chemicals’ Première at NPE 2018 Underlines Its Ambition on the US Market


NEWS PROVIDED BY

DOMO Chemicals GmbH 


ORLANDO, Florida /PRNewswire/ —

For the first time DOMO Chemicals, a German based worldwide operating polyamide expert and material engineering company, is present at the NPE 2018, the plastics show which takes place in Orlando, FL, from 7 until 11 May. DOMO shows its ambition on the US market, offering an extensive product portfolio.

Domo Chemicals, a global company forward looking in the US market

Domo Chemicals showcases its capabilities in three business segments: Polymers, Engineering Plastics and Nylon Film. The strength of its full range offer on the US market is its high and stable worldwide reputed product quality and expertise, its customized service, and its innovative drive.

Engineering Plastics

Domo Engineering Plastics US operates a production facility for engineered plastics compounds in Buford, GA. Domo EP US is part of DOMO’s engineering plastics compounds production network with facilities in GermanyItalyIndia and China. Domo’s local sales, customer service and technical service teams are dedicated to the NAFTA market, commercializing compounded engineering thermoplastics for automotive, oil and gas, sports & leisure, consumer goods and industrial applications. Products highlighted on the NPE are DOMAMID®, PA6 and PA66 based compounds developed for high fluidity, stiffness and aesthetic appeal, ECONAMID® PA6 and PA66 compounds, based on environmentally sustainable feedstock, offering a sustainable choice for many applications in a wide variety of markets and THERMEC™, compounds with enhanced performance at high temperatures.

Virgin polymers for all segments in the US plastics market

The DOMO Nylon & Intermediates division, based in Leuna, Germany, commercializes in the US its wide portfolio of PA 6 virgin resins with applications in engineering plastics, fibres & film extrusion. On the NPE 2018 new PA6 grades in all three segments are highlighted: DOMAMID®H22, a new, ultra-low viscosity polyamide for the engineering plastics business, being a high-flow, easy processable virgin polymer, perfectly suited for highly filled compounds, and suitable for long glass fibres in regards to nearly all injection molding applications. DOMAMID®H27 S05 targets the fiber business : a modified PA6 for BCF, which achieves 30% lower shrinkage during heat setting compared to average shrinkage in case of using standard PA6. For film extrusion, a new high viscosity range with DOMAMID®H33, H36 and H40 is now available; either pure or in finished version (lubricated or lubricated and nucleated).

Domo Nylon Film

DOMO Nylon Film division (Cfp Flexible Packaging Spa, based in Cesano Maderno, Italy), is a specialist in high performing Nylon films (both be-axially oriented and cast non-oriented) for flexible packaging and other technical sectors, such as building insulation systems. The technical properties of FILMON® films enhance consumer products protection, extend their shelf life  and result in a more sustainable and profitable supply chain. With FILMON® the most innovative packaging design solutions are possible in a range of applications including food, pharma, medical and other technical and industrial uses.

DOMO Chemicals will exhibit its range of products and solutions at NPE 2018, South Hall, Level 1, Booth: S24077 + S24085

Note for the editor:

Domo Chemicals. 

DOMO Chemicals is a global material engineering company. Being a privately-owned German Chemical Company with manufacturing activities in GermanyItalyChinaIndia and North America, DOMO Chemicals is a leading highly integrated caprolactam and nylon 6 specialist, operating worldwide in the field of nylon 6 intermediates (caprolactam, cyclohexanone, phenol, acetone, etc.), nylon 6 resins, nylon 6 engineering plastics, engineering plastics compounds, nylon 6 packaging film, fertilizers and distribution of petrochemical products. Domo Chemicals, based in Leuna, Germany, has at date a turnover of 900 million Euro with 900 employees and facilities in GermanyItalyChinaUSA and India

Learn more at http://www.domochemicals.com

SOURCE DOMO Chemicals GmbH

Related Topics

-New Products: Teknor Apex medical TPEs – Teknor Apex Co. will introduce new medical-grade thermoplastic elastomers for injection molded plunger stoppers at NPE2018, held May 7-11 in Orlando, Fla. – Teknor Apex medical TPEs thermoplastic elastomers

-Teknor Apex Supplies Recycled Polyamide Compounds in Europe – Teknor Apex Recycled Polyamide Compounds Europe

-New Products: New TPVs ideal for auto interiors – Teknor Apex Co. recently unveiled its Sarlink 6700 Seres, a new series of thermoplastic vulcanizate elastomers -TPVs auto interiors Teknor Apex

DOMO Chemicals Première NPE 2018 USA Market DOMO Chemicals Première NPE 2018 USA Market  DOMO Chemicals Première NPE 2018 USA Market  A M

Please follow and like us:

U.S. ITC allows duties on imported PET resin findings: statement – USA ITC duties PET resin

USA ITC duties PET resin USA ITC duties PET resin  USA ITC duties PET resin  USA ITC duties PET resin  USA ITC duties PET resin  USA ITC duties PET resin  

U.S. ITC allows duties on imported PET resin findings: statement

USA ITC duties PET resin WASHINGTON (Reuters) – The U.S. International Trade Commission on Tuesday said its preliminary findings pointed to harm to U.S. producers from polyethylene terephthalate (PET) resin imported from five countries.

In a statement, the ITC said it had found resin from Brazil, Indonesia, South Korea, Pakistan and Taiwan had been sold “in the United States at less than fair value” and that the U.S. Commerce Department would issue its final determination on Sept. 17.

Reporting by Susan Heavey; Editing by Chizu Nomiyama

Global Geopolitical Series: U.S. Commerce Department announces preliminary AD on imports of Polyethylene Terephthalate Resin from Brazil, Indonesia, Korea, Pakistan and Taiwan

 Yesterday, the U.S. Commerce Department announced affirmative preliminary determination in the AD investigations on imports of Polyethylene Terephthalate (PET) Resin from Brazil, Indonesia, Korea, Pakistan and Taiwan. The investigation, which was initiated based on petitions filed by DAK Americas, LLC (Charlotte, NC), Indorama Ventures USA, Inc. (Decatur, AL), M&G Polymers USA, LLC (Houston, TX), Indorama Ventures USA, Inc. and Nan Ya Plastics Corporation, America (Lake City, SC), has found that exporters from Brazil, Indonesia, Korea, Pakistan, and Taiwan are dumping the above-mentioned product in the United States below the fair value.

Below are the preliminary dumping rates,

Brazil – 24.09 percent to 226.91 percent;

Indonesia – 13.16 percent;

Korea – 8.81 percent to 101.41 percent;

Pakistan – 7.75 percent;

Taiwan – 9.02 percent to 11.89 percent.

The Commerce Department has asked the U.S. Customs and Border Protection Agency (CBP) to collect cash deposits from importers based on these rates.

According to Commerce department’s calculations, in 2016, imports of PET resin from Brazil, Indonesia, Korea, Pakistan, and Taiwan were valued at an estimated $51.7 million, $35.7 million, $24 million, $34.1 million, and $109.8 million, respectively.

Under the leadership of Secretary Wilbur Ross, the U.S. Commerce Department has followed through President Trump’s promise to cut down malpractices that tend to rob the United States of manufacturing jobs. The numbers of AD and CVD investigations have jumped by 75 percent from the 465 days of the last administration.

A statement on Commerce department quoted Secretary Wilbur Ross saying, “The Department will use every tool at our disposal to defend U.S. industry against unfair trade practices……Today’s decision allows U.S. producers of PET resin to receive relief from the market-distorting effects of potential dumping while the open and transparent process of investigating this matter continues.”

Related Topics

-PET Imports To Face Anti-Dumping Duties in the U.S – The imposition of duty is further to trade investigations following petitions filed in September last year by domestic PET manufacturers – PET Imports AntiDumping Duties USA

-Octals pet resin gives opportunity for export to Canada – Raising the profile of Omani exports worldwide and boosting bilateral trade opportunities between Oman and Canada, Octal one of the sultanate’s principal exporters – Octals pet resin export Canada

-Americas petrochemicals outlook: w/c Apr 16 – Spot ethylene has been on the rise, 0.50 cent/lb higher than the record lows seen April 9 after prompt-month was heard offered at 14 cents/lb MtB Nova – Americas petrochemicals outlook

-Motiva considers ethylene, aromatics projects in US – Motiva Enterprises signed $8bn-10bn worth of memoranda of understanding (MoUs) covering process technologies for possible ethylene and aromatics units in the US – Motiva ethylene aromatics projects USA

-US spot ethylene falls to 16-year low amid tariff concerns – US spot ethylene traded at a 16-year low on Friday amid long supply and concerns about proposed Chinese tariffs on chemicals – USA spot ethylene chemicals

-The initial price for MEG in Europe for April deliveries fell by EUR20 per tonne – The initial contract price of monoethylene glycol (MEG) in Europe for April deliveries was agreed at the level of EUR965 per tonne, which is EUR20 per ton lower than the March contract prices – Price MEG Europe April

-China’s MEG up in anticipations of better supply-demand for Q2 – China’s MEG market has remained rangebound for around two weeks, and domestic spot prices shivered around 7,000yuan/mt – China MEG prices market

-Prices MEG in the US may fall in April  – It is expected that prices of monoethylene glycol (MEG) in the US will decline in April due to a weakening of demand between peak seasons – Prices MEG USA April 

-AFPM ’18: EQUATE’s US MEG plant begins construction phase – CEO – AFPM 2018 EQUATE USA MEG

-Sabic reduced the April price of MEG by USD55 per tonne – Sabic, the largest Saudi petrochemical company, has lowered the contract price of monoethylene glycol (MEG) to supply material to the Asian market in April at USD55 per tonne compared to the March price level – Sabic April price MEG

-MEGlobal lowered the April contract price of MEG in Asia by USD80 per tonne – MEGlobal, the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG), set the April contract price for MEG for Asia at USD1,100 per tonne – MEGlobal April contract price MEG Asia4

-China polyester to drive MEG, but oversupply fears – China polyester MEG oversupply – Robust demand from polyester production in China is expected to drive the Asian monoethylene glycol (MEG) market in the first half of 2018

 USA ITC duties PET resin USA ITC duties PET resin  USA ITC duties PET resin  USA ITC duties PET resin  USA ITC duties PET resin  USA ITC duties PET resin  USA ITC duties PET resin USA ITC duties PET resin  USA ITC duties PET resin  USA ITC duties PET resin  USA ITC duties PET resin  USA ITC duties PET resin  
Please follow and like us:

Krones completes acquisition of Till and forms new subsidiary – Krones has completed the full acquisition of container decorator Till GmbH and will form a new subsidiary called Dekron, which will manage the company’s entire digital decorating operations – Krones acquisition decorator Till

Please follow and like us:

SABIC, ExxonMobil create joint venture for proposed US cracker project – The new joint venture is known as Gulf Coast Growth Ventures, according to the companies – SABIC ExxonMobil USA cracker project

SABIC ExxonMobil USA cracker project SABIC ExxonMobil USA cracker project  SABIC ExxonMobil USA cracker project  SABIC ExxonMobil USA cracker project  SABIC ExxonMobil USA cracker project  SABIC ExxonMobil USA cracker project  SABIC ExxonMobil USA cracker project  SABIC ExxonMobil USA cracker project  

SABIC, ExxonMobil create joint venture for proposed US cracker project

Source:ICIS News

SABIC ExxonMobil USA cracker project HOUSTON (ICIS)–SABIC and ExxonMobil created a joint venture to develop a complex in San Patricio county in Texas that will include an ethane cracker and downstream units, they said on Tuesday.

The new joint venture is known as Gulf Coast Growth Ventures, according to the companies.

The cracker will have a capacity of 1.8m tonnes/year. The downstream units include a monoethylene glycol (MEG) and two polyethylene (PE) plants.

Construction of the Gulf Coast Growth Ventures project is still waiting on the completion of environmental permits, the companies said. The complex should start operations in 2021-2022.

The companies did not specify the name of the joint venture.

Interactive by Tracy Dang

By Al Greenwood
Please follow and like us:
1 2