China – Polyethylene Terephthalate
PET and its chain are practically steady.
PET Bottle grade export 1,050/1,090 $/ton – PET Bottle grade domestic market 8,400/8,500 yuan/ton – PET Filament grade SD domestic market 7,800/7,950 yuan/ton – PET Filament grade BR domestic market 7,800/7,900 yuan/ton
PTA Taiwan 850/860 $/ton – PTA domestic market 6,600/6,700 yuan/ton – MEG $ 620/635 $/ton – MEG domestic market 5,100/5,200 yuan/ton – PX Korea 1,075/1,090 $/ton
POY 150D/48F domestic market 8,500/8,600 yuan/ton – DTY 150D/48F domestic market 10,350/10,450 yuan/ton – PSF domestic market 8,850/8,950 yuan/ton
- Crude Oil Prices Trend
Europe’s chemical-intensive automobile industry could be the US’ next focus in its protectionist push if that country and China resolve their differences, according to the director general (DG) at European chemicals trade group Cefic.
Marco Mensink added that if the US and China do not resolve their trade differences and end the current truce for another hike in Chinese products into the US, the whole global economy could take a hit.
The European automobile sector is a key consumer of a wide range of chemicals, and a key job provider in the region. All major EU countries are key producers and consumers of vehicles, and a slowdown in the sector has both social and political ramifications.
Mensink said that while the global economy is holding on, uncertainty relating to trade conflicts and the unresolved UK exit from the EU are putting a strain on investments, both from companies and consumers.
Husky Injection Molding Systems has launched a digitalised Next Generation Operating Model (NGOM) moulding solution, which the company says will revolutionise the way it does business.
Unveiled at the company’s EMEA headquarters, the NGOM process will streamline hardware ordering and manufacturing from a practice that historically takes several weeks down to a few hours. Customised stack components can be configured through a web interface and then manufactured in a laboratory through a completely automated process.
Husky’s chief executive, John Galt, said: “The world is experiencing an accelerated pace of digitalisation and it is influencing every aspect of our lives. Husky recognises this shift and we have been actively working to embrace digitalisation for some time.
In the age of climate change and environmental protection, the pressure on manufacturers, brands and retailers in the textiles sector is growing. More and more consumers are calling for compliance with minimum social standards in the manufacture of their textiles. The Oeko-Tex Association, together with Hohenstein as one of the founding members, has developed a comprehensive product portfolio to provide everyone involved in the textiles value creation chain with the best possible security and extensive transparency.
“The product label Made in Green by Oeko-Tex in particular offers a clear statement,” the association reports.
Due to tighter supply of medium and heavy sour crude oil, Middle Eastern benchmarks for sour crude grades have been trading higher than Brent Crude prices since the beginning of February in a rarely seen development in global oil prices.
On February 1, the cash Dubai crude price edged above Brent Crude for the first time since August 2015, according to S&P Global Platts data.
Three key factors have been tightening the global supply of heavy crude grades, thus pushing the prices of Dubai spot and DME Oman crude futures higher this month, traders and analysts tell Reuters.
Plastic recycling specialists Recycling Technologies has announced the appointment of Marvine Besong to the position of Technical Director as it prepares to commence commercial manufacturing of its feedstock recycling machine, the RT7000.
Besong has almost a decade of experience in the resources and waste sector and has been with Swindon-based Recycling Technologies since 2015, during which time he has played a key role in the delivery of the Beta Plant that the company operates in Swindon as part of the pilot of its RT7000 technology.
If you’re going to drink bottled water, Cove wants to lower your footprint.
“It just became very clear that the reason we have a problem with plastic pollution is convenience, and trying to change that delivery mechanism is going to be very difficult,”says Alex Totterman, founder of new bottled water company Cove. “And we don’t really have time. We’re looking at probably less than 30 years and we’ll have an ocean filled with more plastic than fish. While cleanup efforts are really important, we also just need to stop the amount of plastic going into our environment, especially single-use plastic.”
So Cove, which is launching later this month, is packaged in a bottle made from a biopolymer called PHA. If the bottle ends up in a compost bin or landfill–or even the ocean–it will fully biodegrade.
orange peels”Orange waste is of great interest in Spain, as Spain is the largest producer of oranges in the EU and is ranked fifth overall in the world.”
An eco-friendly material made from orange peels could be used in the packaging and agricultural sectors, according to Spanish researchers working on a circular economy project called MIPLASCOE. Essentially, the researchers are aiming to recover the wastes generated in the orange juice sector in order to produce bio-plastic.
Like plastic, when dried the material is tough and malleable. Unlike plastic, it is also biodegradable.
The KraussMaffei Group (KraussMaffei) has appointed Dr. Michael J. Ruf as the newly created position of Chief Operating Officer (COO) effective 1st April 2019.
The company says the appointment will strengthen its management team and displays the foundations for future growth.
With more than 20 years of management experience in the automotive supplier industry, Dr. Ruf, will join KraussMaffei from Continental AG, where he most recently led the “Commercial Vehicles & Aftermarket” business unit as Executive Vice President.
Rigzone asks industry experts whether the price of oil will ever reach $100 per barrel again.
Oil will hit $100 per barrel again, according to RoseAnne Franco, head of oil and gas at global risk consultancy Verisk Maplecroft.
“It’s a question of when and will it stay there … the level of geopolitical uncertainty we confront today is particularly volatile and precisely the type of conditions that could lead to an oil price shock,” Franco told Rigzone.
“That said, the uncertainty appears to cut both ways as global economic growth, which supports higher oil demand, is vulnerable to heightened geopolitical risk, which erodes it,” Franco added.
Venezuela’s oil minister is in New Delhi this week hoping to convince India’s key refiners to buy more of its crude and forge closer ties as the South American nation finds itself internationally isolated after the US imposed crippling sanctions on state-owned PDVSA last month.
Manuel Quevedo told reporters Monday that he is hoping to continue Venezuela’s healthy relations with India, which has now emerged as the driver of global oil demand growth.