- China – Polyethylene Terephthalate
- PET and its chain are assessed mixed.
- Crude oil is always in good health.
- Polyamide 6 and its chain are weak.
PET Bottle grade export 1,060/1,095 $/ton – PET Bottle grade domestic market 8,400/8,550 yuan/ton – PET Filament grade SD domestic market 7,750/7,850 yuan/ton – PET Filament grade BR domestic market 7,850/8,000 yuan/ton
- PTA Taiwan 845/855 $/ton – PTA domestic market 6,450/6,550 yuan/ton – MEG 590/600 $/ton – MEG domestic market 4,550/4,700 yuan/ton – PX Korea 940/955 $/ton
- Polyester POY 150D/48F domestic market 9,000/9,100 yuan/ton – Polyester DTY 150D/48F domestic market 10,500/10,650 yuan/ton – Polyester Staple PSF domestic market 8,800/9,000 yuan/ton
Crude Oil Prices Trend
- Reliance eyes higher valuation for refining arm in likely Aramco deal
- Saudi Aramco is in talks with RIL to buy up to a 25% stake in its refining and petrochemicals business
- The petrochemical and refining business contributes around 75% to Reliance Industries’ operating profit
Mumbai: Mukesh Ambani’s Reliance Industries Ltd (RIL) has sought a higher valuation for its refining and petrochemicals business as it considers selling a minority stake to Saudi Arabia’s state energy group, Saudi Aramco, said two officials directly aware of the development, requesting anonymity.
On Wednesday, The Times of India reported that Saudi Aramco is in talks with RIL to buy up to a 25% stake in its refining and petrochemicals business. A minority stake sale could fetch $10-15 billion, valuing the business at $60 billion, the report added. The petrochemical and refining business contributes 75% to RIL’s operating profit.
This week, PP prices gained in South East Asia and India. Stronger upstream costs, firmer import offers from overseas producers and deals concluded at higher price levels in the region, together supported the price rise.
In South East Asia (SEA), PP raffia and PP injection grade prices were assessed at the USD 1160/mt levels, a week on week increase of USD 5/mt. PP film prices were assessed at the USD 1180/mt levels while BOPP prices were also at the USD 1180/mt levels,, both up USD 10/mt from the last week. PP block copolymer prices were assessed higher at the USD 1200/mt CFR levels, a week on week rise of USD 10/mt.
In Vietnam, Overseas producers have concluded deals for PP raffia and PP injection grades at the USD 1160/mt CFR levels, for shipment in April 2019.
Asia naphtha prices touched a fresh five-month high, riding on the coattails of stronger crude oil futures, amid a steady stream of demand that is envisaged to keep the market afloat.
At early hours session on Wednesday, open-spec naphtha prices stood at $587.50/tonne CFR (cost and freight) Japan basis, rising by $6.00/tonne from the previous week’s close.
This brought levels to their highest since early-November 2018, according to ICIS data.
ICE Brent June crude oil futures rose to $71.99/bbl at early hours session, buoyed by an unexpected drawdown in US inventories.
PP prices firmed $20-30/t on the prospect of the delayed start-up. Raffia homopolymer traded at $1,140-1,160/t cfr southeast Asia and $1,110-1,140/t cfr China this week, according to Argus data.
US-based plastic containers and closures maker Pretium Packaging has acquired Olcott Plastics for an undisclosed sum.
The transaction complements Pretium’s injection moulding and personal care and beauty offerings.
The company will offer blow-moulded containers to Pretium customers and nationally expand its presence.
Pretium president and CEO Paul Kayser said: “We are pleased to welcome co-owners Joseph M Brodner and John Brodner, and the Olcott employees, to the Pretium organisation.
Texprocess (Frankfurt am Main, 14 to 17 May) is heading for an exhibitor record, with the largest range of technologies in its history. This year it will focus on the impacts of trends, such as automation, individualisation and sustainability, on the processing of textile and flexible materials.
“While everyone is still talking about Industry 4.0, Texprocess is already analysing its impact”, says Olaf Schmidt, Vice President, Textiles and Textile Technologies at Messe Frankfurt. By this he means the impacts and effects of digitalisation on the manufacture and processing of textiles. So what changes triggered by Industry 4.0 are already part of the supply chain? “These days machine data are already being read in real time, robotic and gripping systems are working at cutting tables, and manufacturers of sewing and clothing technologies are networking machines for processing technical textiles and factories across country borders”, says Elgar Straub, Managing Director, VDMA Textile Care, Fabric and Leather Technologies.
Last year Packaging Europe began to take a closer interest in chemical recycling – not a new concept in itself but one gaining momentum in the context of the challenges of dealing with plastic waste. At the time there were only a handful of chemical recycling facilities in business, and early stage R&D and pilot projects. Libby White takes a look at how the process and discussion has evolved one year later, spurred on by the strong limelight on the need for sustainability and circular economy in the packaging industry.
On 22 January 2019, as a sign of the times, a new non-profit organisation, Chemical Recycling Europe, was created with the vision of establishing an industry platform for developing and promoting cutting-edge chemical recycling technologies for polymer waste across Europe.
For India, which imports some 80 per cent of its requirement of crude oil, the price of a barrel matters for its GDP growth, and hence, for its stock market. India, the third-largest importer of crude oil, imports some 1.8 billion barrels a year, so every $1 increase means a $1.8 billion larger bill.
Several factors influence the demand and supply of oil, making it difficult to predict how the various moving parts would play out and influence prices either up or down. Brent crude fell from $85 in mid-Oct 18 to $50 in a month, (after a threat Trump tweet), and have, since, risen to $71.
Will they hit $80, as some expect, or fall again to $60.
Like any other commodity, the price fluctuates with demand and supply, with several factors, geopolitical, technological and economical, affecting the movement of both.
Big buyers and sellers of polyethylene terephthalate (PET) in Europe are failing to find a compromise when it comes to spot prices, as each side stands its ground, sources said on Thursday.
“On one hand producers are waiting because they think they will get better prices, and customers are waiting because they think that the prices will soften… and maybe the decision maker will be the weather,” a reseller said.
Offtake has been limited both on spot and contract in many regions because of the uncertainty, such as where production costs will settle and whether or not the peak season will prove successful.
Sellers are pinning their hopes on warmer weather attracting the traditional pull on stocks.
“Demand is picking up lately. Perhaps not spectacular but customers are not taking minimum contract volumes, more average volumes. The weather will improve,” a seller said.
Gurit will acquire PET recycling production facilities from Valplastic S.r.l., with the goal of securing access to raw material supplies for its PET core products.
Gurit (Wattwil, Switzerland) reports that its branch Gurit Italy PET Recycling S.r.l. has signed an agreement to acquire PET recycling production facilities from Valplastic S.r.l. (Padova, Italy), for an undisclosed purchase price. Closing of the transaction is expected at the end of May, subject to closing conditions being met.
Valplastic specializes in the recycling of PET bottles and the production of recycled PET flakes and granules later used for extrusion of recycled PET core, which Gurit produces for customers for wind energy and other applications. As part of the asset purchase agreement, Gurit acquires production equipment, working capital and Valplastic’s current staff of approximately 30 full-time staff.
Washington — The US Treasury Department today placed Venezuela’s central bank on its sanctions list, escalating financial pressure on President Nicolas Maduro’s government and creating additional obstacles for the country’s oil exports.
The sanctions will restrict the central bank’s access to US dollars and effectively cut it off from the dollar-based financial system and transactions. This step should serve as a strong warning to external actors, including Russia, against providing support to the Maduro government, White House national security adviser John Bolton said in a speech in Miami.
Leading sensor-based sorting specialist, TOMRA Sorting Recycling, has confirmed its participation in the first ever Letsrecycle Live event, which will take place from 22nd – 23rd May at the NAEC in Stoneleigh, Coventr
Experts from TOMRA Sorting’s UK team will be on hand in Hall 2, Stand D3, to highlight the latest developments and innovations in sensor-based sorting for a range of materials. With UK processors facing challenging market conditions and continued uncertainty surrounding Brexit, TOMRA will stress the vital role that automated sorting can play in boosting not just the volume of end fractions that can be recovered from infeed material, but also the quality.
The colorfully appealing shelf presence of shrink-sleeve labeled bottles combined with practical benefits for brand owners keep this market on a roll—one study forecasts a healthy 6.5% CAGR for sleeve labels through 2017-2023.
However, there’s an unhealthy environmental downside that casts a dark eco-green shadow over an otherwise rosy outlook. The Association of Plastics Recyclers (Washington, D.C.) states that shrink-sleeve labeled PET bottles are not friendly to PET recyclers because they can interfere with the accuracy of automated sortation equipment.