MOSCOW – Paraxylene prices fell on April 25 in Asia by USD25 per tonne, ICIS reports.
Spot prices on the market amounted to USD949-951 per tonne, which is USD25 lower compared to the previous day.
Proposals for delivery in June were at USD950 per tonne, CFR main ports of Taiwan / China.Paraxylene PX prices Asia
The deal for delivery in June was concluded at USD947 per tonne, CFR main ports of Taiwan and China.
Para-xylene is a raw material for the synthesis of terephthalic acid (TPA), a semi-product for the production of polyethylene terephthalate (PET).
According to ScanPlast Company Market Report, in Russia the total estimated consumption of PET in February 2019 increased by 22% compared to the same month last year and amounted to 56.94 thousand tons.
This growth is associated with an increase in the volume of material production by Russian manufacturers (by 11%), a decrease in total exports of Russian PET (by 56%) and a slight increase in imports (by 7%).
According to the results of January – February, the total estimated PET consumption in the Russian Federation increased by 34% and amounted to 118.89 thousand tons.
MOSCOW – The spot prices of imported monoethylene glycol (MEG) in Asia have declined amid a large supply of material on the market, ICIS reported.
The supply of MEG suppliers at the end of April fell to USD580-583 per ton, CFR CMP, compared with prices agreed by buyers – USD572-575 per ton, CFR CMP.
Meanwhile, price proposals for the second half of May were at the level of USD585 per ton, CFR CMP versus proposals at USD580 per ton, CFR CMP.
Prices declined as suppliers began to actively offer stocks in warehouses on the spot, which put downward pressure on spot prices. However, this led to an increase in trading activity.
MEG is one of the key raw materials for the production of polyethylene terephthalate (PET). Spot monoethylene glycol Asia
According to the ICIS-MRC Price Review , in mid-April, the calm situation remains on the Russian PET market. There are no signs of a current or possible future shortage of material on the market. The cost of free spot volumes from Russian producers is growing. External background remains neutral and does not contribute to a significant increase in contract prices in the next month. It is expected that the formula prices in May will remain at a level below 100 thousand rubles. per ton, CPT Moscow, including VAT.
circular economy conceptOne of the biggest and oldest brand names in housewares, Tupperware (Orlando, FL) has announced that it is collaborating with chemicals company Sabic (Riyadh, Saudi Arabia) to introduce certified circular polymers into its product offerings. The collaboration highlights the shared commitment by both companies to advance a more circular economy, where plastic waste and materials are used, reused and repurposed to continue their lifecycle, said the press release.
Starting this summer, Tupperware will begin introducing the certified circular polymers from Sabic in new products that aid in the reduction of single-use plastic products, including a portable, reusable straw and on-the-go coffee cup.
The ECC Ecological Cleaning and Care of the Werner & Martz group is to present the Recycling Initiative with its cooperation partners, at the Private Label Manufacturers Association trade show in Amsterdam.
The shared goal of the Initiative is the development of sustainable material cycles in which materials from the Yellow Bag source are used, and to work towards a closed-loop system.
At a shared booth at the PLMA show, the Initiative will show the entire cycle of a PET and HDPE bottle made from recyclates, from the collection of plastic waste in the Yellow Bag and the processing of recycled plastic into new packaging to the product on the retail shelf.
These plastics can easily be disassembled to chemical building blocks.
Recycling sounds great in principle (because it is), but a frustrating number of devils lurk in the details. For example, while some materials like aluminum can readily be melted down and turned right back into new aluminum cans, recovered plastics tend to be lower quality than “virgin” material. That’s because recycled plastic retains some of its previous properties—like Lego bricks that can’t be separated. The next plastic you make won’t be exactly the same type, and the recycled material won’t fit perfectly into its new spot.
To improve this situation, plastics engineers want to create new materials that can cleanly and easily break down to the most basic components—individual Lego bricks that can be reassembled into absolutely anything. The difficulty of this task is increased by all the pigments, flame retardants, and other additives used in plastics. But a group led by Lawrence Berkeley National Laboratory’s Peter Christensen has developed a new plastics process that conquers these challenges.
In an attempt to fulfill the aspirations of the Indo-Russian business fraternity, the first ever national level participation in the sixth edition of the Irkutsk International Trade Fair, Irkutsk, Russia (August 21 to 24, 2019) is being organised by the India Trade Promotion Organisation (ITPO) at the Irkutsk Exhibition Complex in Russia.
The event aims to carry forward the momentum to further strengthen the bilateral trade relations and provide an excellent business platform to the Indian companies in Russia’s untapped Balkan region.
The event will feature bonhomie of the people of Russia towards Indian products as they have a special place in their hearts.
Significantly, the event will be visited by the companies from main cities of Siberia, Russia and India’s neighboring countries like China, Mongolia, Kazakhstan, Ukraine, Belorussia and so on.
Southeast (SE) Asia’s polypropylene (PP) market looks set to embark on a bumpy second half of 2019 as new capacities begin creeping in from regional start-ups.
Spot PP flat yarn grade prices regained some ground late in Q1 2019, after plummeting to yearly lows in December 2018.
A flood of cargoes from India descended on the Chinese market late in 2018 as producers there sought to clear built-up inventories. The SE Asia market was not spared, and spot prices came under pressure, with all-origins PP flat yarn spot prices bottoming out at $1,095/tonne CFR (cost and freight) SE Asia in January 2019.
Both sides are expected to benefit from materials maker Saudi Basic Industries Inc.’s recent decision to link up with distribution firm Amco Polymers LLC.
Amco in February became an authorized distributor of Sabic’s portfolio of specialty materials, including Noryl-brand polyphenylene ether, Ultem-brand polyetherimide, LNP-brand compounds and its full range of polycarbonate-based high-performance copolymers. The deal covers the U.S., Canada and Mexico.
“We’ll benefit from a customer perspective by providing increased access to these materials,” Sabic customer fulfillment director Cathy Hess said in an April 23 phone interview. “We see this as an extension of our own commercial team.”
Hess said LNP was “a valuable brand” for Sabic and that the copolymers now being distributed by Amco were “PC on steroids.”
February’s rollover was not on a firm footing and in March, the European PET contract prices tended somewhat firmer due to the rising paraxylene reference.
Continued subdued demand was the key factor in ensuring stability for medium-to-large volumes, while very small orders often had to part with the small discount that had been achieved in February again.
The US said on Monday that it won’t extend the sanctions waivers for eight countries importing crude oil from Iran. The move could remove around 1.1 million barrels per day from the market.
Although Rystad Energy anticipated a further tightening of sanctions, the details in the announcement have led us to revise our forecast downward for Iranian crude production.
Rystad Energy forecasts that production will drop to 2.27 million bpd for the second half of 2019, reaching this level by July 2019, which equates to a drop of 0.43 million barrels per day (bpd) from current March 2019 levels.
The net effect for the oil market is bullish, as the market will lose more supply from Iran, mostly of medium-sour and heavy-sour quality.
The sense of pessimism that hung over the world economy early this year has begun to lift in recent weeks.
Trade flows are picking up in Asia, America’s retail sales have been strong, and even Europe’s beleaguered manufacturing industry has shown flickers of life. But it would not take much bad news to reinstate the gloom.
One threat is that oil prices continue their upward march—on April 23rd the price of a barrel of Brent crude exceeded $74, the highest level for nearly six months. Though the dynamics of the oil market have changed over the past decade, dearer oil still acts as a drag on global growth.
Correction: In the ICIS story headlined “Feiplastic ’19: INEOS Styrolution seeks more ways to recycle PS” dated 24 April 2019, please read in the fourth paragraph … has entered into a joint development agreement … instead of … joint venture agreement … A corrected story follows.
INEOS Styrolution is looking for more ways to recycle polystyrene (PS) after recent partnerships have developed different technologies to break down the resin into its monomers, an executive said.
Agilyx is using pyrolysis to break down PS into styrene oil at its plant in Tigard, Oregan, said Alexander Gluck, president, Americas, INEOS Styrolution. He made his comments on the sidelines of the Feiplastic plastic trade show.
Agilyx is providing the resulting styrene oil to INEOS Styrolution and AmSty, which are using it to make PS.
Leading flat knitting machinery manufacturer Stoll will be exhibiting at Techtextil (Hall 3.0, booth F39), the leading international trade fair for technical textiles and nonwovens, which takes place in Frankfurt from 14-17 May this year. International exhibitors will be showing the entire spectrum of technical textiles, functional clothing textiles and textile technologies at the show.
In parallel with the Techtextil, exhibitors will also be presenting the latest machines, systems, processes and services for the production of clothing as well as textiles and flexible materials at Texprocess, which takes place at the same time at the same Messe Frankfurt venue. Stoll will be exhibiting together with DITF (German Institute for Textile and Fiber Research) at Texprocess in Hall 4.1 – booth D45.