May benzene contract price in Europe rose by EUR40 per ton
MOSCOW- The contract price of benzene in Europe for deliveries in May of this year was finally agreed at EUR680 per ton, which is EUR40 per ton higher than the April price, ICIS reported, citing confirmation from three buyers and three sellers.
Contract prices were agreed on the terms of delivery CIF North-Western Europe.
The May contract price of benzene was agreed to in dollar equivalent at USD758 per tonne, and then converted to euro in an agreed exchange rate of EUR1 = USD1,11150.May benzene price Europe
Thus, if we take the price of benzene in dollar equivalent, then the May contract price for the material has increased compared to April by USD40 per ton.
Since the beginning of this year, benzene quotes have grown in the region by EUR195 per ton, i.e. by 40%. Meanwhile, the January material prices were fixed at the lowest level in the last nine and a half years.May benzene price Europe
Earlier it was noted that the April contract price of benzene in Europe was approved at EUR640 per tonne, which is EUR82 per tonne higher than the level of March.
Benzene is a raw material for the production of styrene, which, in turn, is the main raw material component for the production of polystyrene (PS).
According to the ICIS-MRC Price Review , all Russian PS manufacturers retained the May selling prices at the level of April. At the beginning of last week, the manufacturer Nizhnekamskneftekhim considered the possibility of increasing prices in the current month by 1 thousand rubles. per ton, but ultimately decided not to do this and prolonged the April ones.May benzene price Europe
May ethylene contract price in Europe increased by ERU30 per ton
MOSCOW – The contract price of ethylene in Europe for May deliveries was agreed at EUR1,075 per tonne, which is EUR30 per tonne higher than the level of April, ICIS reported.
The contract price was approved under the terms of FD NWE (with delivery to North-West Europe).
This level of the contract price was directly confirmed by the two producers and two consumers, which is a sufficient configuration for the approval of the monthly contract price for the material.
The contract price is considered fully agreed upon after confirmation from at least two manufacturers (suppliers) and from two consumers (buyers).
The main driving factor behind the growth in the contract price of ethylene was once again the change in crude oil prices, which showed an uptrend last month. Commodity quotes also increased after the recent unexpected problems at cracking plants in Europe and in connection with the beginning of the period of preventive work in production.May ethylene price Europe
Earlier it was noted that the contract price of ethylene in Europe for April deliveries was finally agreed at the level of EUR1,045 per ton, which is EUR30 per ton higher than the level of March.
Ethylene is the main raw material component for the production of polyethylene (PE).
According to the ICIS-MRC price review , despite the upcoming long May holidays, buying activity in the Russian market was low in late April. Most of the companies did not form additional reserves for the weekend period, although there were exceptions.
The excess supply on a number of types of PE in the Russian market persists, but it no longer exerts serious pressure on prices. As a result of last week, there was a decrease in prices for certain types of PE, but they are not as significant as at the beginning of the month.
The contract price of benzene in Europe for deliveries in May of this year was finally agreed at EUR680 per ton, which is EUR40 per ton higher than the April price, ICIS reported, citing confirmation from three buyers and three sellers.Contract prices were agreed on the terms of delivery CIF North-Western Europe.The May contract price of benzene was agreed to in dollar equivalent at USD758 per tonne, and then converted to euro in an agreed exchange rate of EUR1 = USD1,11150
The contract price of ethylene in Europe for May deliveries was agreed at EUR1,075 per tonne, which is EUR30 per tonne higher than the level of April, ICIS reported.
The contract price was approved under the terms of FD NWE (with delivery to North-West Europe).
This level of the contract price was directly confirmed by the two producers and two consumers, which is a sufficient configuration for the approval of the monthly contract price for the material. The contract price is considered fully agreed upon after confirmation from at least two manufacturers (suppliers) and from two consumers (buyers).
Kourosh Ziabari is an award-winning Iranian journalist. He has conducted numerous interviews with politicians, diplomats, Nobel Prize laureates, acade
Sumitha Narayanan Kutty is an associate research fellow in the South Asia Program at the S. Rajaratnam School of International Studies (RSIS), Nanyang
In this edition of The Interview, Fair Observer talks to Sumitha Kutty, an associate research fellow at the S. Rajaratnam School of International Studies in Singapore.
Iran and India have traditionally maintained cordial relations, counting on each other as major security partners. Bonds between the two Non-Aligned Movement heavyweights have strengthened ever since the 1990s when they supported the Northern Alliance in Afghanistan against the Taliban regime. In 2003, they announced the establishment of a “strategic partnership” and have subsequently cooperated on energy, trade, counterterrorism, defense and intelligence operations.
A team of researchers has found an efficient and economical process to produce plastic chemical — HMF or hydroxymethylfurfural. The HMF is a versatile plant-derived chemical considered crucial for building a renewable economy. The research was published in the Journal of Energy and Environmental Science.
What’s more, the process is simple and compatible with the existing infrastructure in the high fructose corn syrup industry, the researchers showed. “We integrated into a current process to reduce the initial risk quite a bit and decrease the initial capital required to prove the technology,” said Ali Hussain Motagamwala, who led the project.
A team of researchers from the University of Greifswald and Helmholtz-Zentrum-Berlin (HZB) has found a solution for the molecular structure of the vital enzyme MHETase at BESSY II. MHETase was discovered in bacteria and when paired with another enzyme, PETase it can break down plastic PET into its basic building blocks. The 3D structure has allowed researchers to create a MHETase variant to utilize it in combination with PETase for sustainable recycling of PET.
Dr. Gert Weber, biochemist and structural biologist, explains that MHETase has a larger and more complex structure than PETase and an individual MHETase molecule comprises of 600 amino acids or 4000 atoms. Polymers Petrochemicals Plastic Waste
India hinted Thursday that it has not committed to complying with the U.S. ban on crude oil purchases from Iran after a six-month waiver expired this week, while Turkey suggested it may be unable to do so.
Asked Thursday about India’s response to the U.S. sanctions, Raveesh Kumar, spokesperson for India’s Ministry of External Affairs, replied that “frankly, for me to give a direct answer to the question would be difficult.”
Uflex Ltd. An employee tends to the stream of mixed plastics waste at a new pyrolysis plant India’s Uflex Ltd. opened at its headquarters.
Noida, India — India’s largest flexible packaging firm Uflex Ltd. is launching two environmental initiatives, investing about 50 million Indian rupees ($700,000) in a pyrolysis plant at its Noida site to turn plastic film waste into oil and gearing up to open a plastics recycling facility.
The company said the pyrolysis operation, which has the capacity to process 6 tons a day of waste from the factory’s film and packaging lines, is in line with the government’s Plastics Waste Management Rules 2016.Polymers Petrochemicals Plastic Waste
Chennai: India’s oil dependence from foreign countries to meet its energy needs has jumped to a multi-year high of nearly 84 per cent, latest government data showed.
It must be noted that Prime Minister Narendra Modi set a target to cut India’s oil import dependence by 10 per cent, from 77 per cent earlier. Further, the dependence can be cut to half by 2030, he had said.
But with consumption growing at a brisk pace and domestic output remaining stagnant, India’s oil import dependence has risen from 82.9 per cent in 2017-18 to 83.7 per cent in 2018-19, according to the Oil Ministry’s Petroleum Planning and Analysis Cell (PPAC).Polymers Petrochemicals Plastic Waste
Last week, the United States said it would stop waivers for countries buying Iranian oil.
The United States’ allies in Europe have criticised its recent decisions to restrict oil trade with Iran and to limit the extension of waivers for nuclear non-proliferation projects.
“We … take note with regret and concern of the decision by the United States not to extend waivers with regards to trade in oil with Iran,” Britain’s foreign office said in a joint statement with its German and French counterparts and the European Union.
Nearly 5,000 exhibitors from the areas of textiles and garments, shoes, cases and bags, recreational products, medicine and healthcare products and food recently offered a detailed overview of their evolving global trade as part of Phase 3 of the 125th China Import and Export Fair (Canton Fair).
The fair which opened on April 15 concluded on May 5, and was held in Guangzhou, China.
Maggie Pu, deputy director general of the foreign affairs office of the Canton Fair, noted that facing pressure from uncertainties related to global trade and stricter import standards, Chinese companies’ constant efforts in innovation and improvement of product performances guarantee an increasingly global market share.Polymers Petrochemicals Plastic Waste
According to the ministry of climate change, the plastic industry is the fifth largest employer in Pakistan. How can the use of plastic be governed in such a scenario
As the use of plastic products is on the rise in Pakistan, there seems to be a realisation among consumers as well as the government that use of certain products, such as plastic shopping bags, must be curtailed for their health and environmental hazards. But how practicable is it to ban plastic products?
Shoaib Munshi, Spokesperson Pakistan Plastic Manufacturers’ Association, (PPMA) says different provincial governments have announced ban on plastic bags but it will not be possible for them to implement these.Polymers Petrochemicals Plastic Waste
Carbon fiber used to be the ultimate tell when it came to showing just how much money you could throw at your car’s interior. An expansive dash, custom-carved door panels, a $1,000 steering wheel in that unmistakable black crosshatch—and the Nappa leather seats that often pair with it—telegraphed to anyone who cared to look that this was an expensive, sporty and unique whip owned by someone who was possibly important, and at least interesting.
But now it’s time for plants.
“Fifty years ago a leather couch was the height of luxury,” says Massimo Frascella, Land Rover’s creative director and a practicing vegan. “Now in the best hotels and homes you’d never see that. It’s a similar process with cars. Going forward, sustainable design is providing the framework for change.”
Frascella arrived in Manhattan during the New York International Auto Show, which began on April 19, to unveil Land Rover’s new line of leather-free and fully vegan materials developed to outfit its 2020 Range Rover Evoque, Range Rover Velar and Jaguar I-Pace SUVs.
“There are a growing number of people who are concerned with the provenance of the textiles and materials in their vehicle,” he says. The new interiors are meant to attract those consumers for whom the highest form of luxury aligns with their eco beliefs.Polymers Petrochemicals Plastic Waste
Starting in May, the White House hopes to extinguish Iran’s oil exports. However, any destabilization may prove counter-productive and cause long-term damage to the United States, the region and global prospects.
For three years, the nuclear accord (JCPOA) offered Iran relief from the multilateral sanctions on energy, financial, shipping, automotive and other sectors.
The shift in the U.S. policy began in late 2016, when the Congress extended the Iran Sanctions Act for a decade. That emboldened Trump’s unipolar stance.
But what are the immediate economic and strategic implications?
Saudi output rise to stay within Opec+ target — sources
Dubai, London: Saudi Arabia’s oil output may edge up in June, sources familiar with the kingdom’s policy said, but the extra crude may be used for domestic power generation rather than providing the boost to exports that Washington has been seeking.
The sources said any rise in Saudi output would still be within its output quota in a pact on supply cuts agreed between Opec and its allies, a group known as Opec+.
Production from the world’s top crude exporter in May is expected to be around 10 million barrels per day (bpd), slightly higher than April but still below its quota under the Opec-led pact of 10.3 million bpd, industry sources said.
The idea of a “biodegradable” plastic suggests a material that would degrade to little or nothing over a period of time, posing less of a hazard to wildlife and the environment.
This is the sort of claim often made by plastic manufacturers, yet recent research has revealed supposedly biodegradable plastic bags still intact after three years spent either at sea or buried underground.
So un-degraded were these bags that they were still able to hold more than two kilos of shopping.
Top oil exporter Saudi Arabia has raised its crude oil prices for June to its Asian and European customers, and cut prices to the United States, a signal that Riyadh is in no hurry to boost oil supply ahead of an OPEC meeting next month.
Saudi Aramco raised the June price for its Arab Light grade for Asian customers by $0.70 a barrel versus May to a premium of $2.10 per barrel to the Oman/Dubai average, the state oil company said on Sunday.
Mahlo is set to present new systems and solutions for efficient and high-quality textile production and finishing at ITMA 2019 expo at booth H2-C203. The international textile and garment technology expo will be held from June 20-26, 2019, in Barcelona, Spain. Mahlo is a leading manufacturer of measuring, control, and automation systems for textiles.
Via the Gateway to Industry 4.0, visitors can immerse in the digital world of Mahlo. mSmart is the name of the concept developed by the technology leader from Bavaria, which defines the digital environment. Visitors can test in the mSmart control room how measuring data are saved, logged, and evaluated. The real-time data of all machines displayed come together here, so every change in a machine can be observed, according to a Mahlo press release.
Germany-based Xtema-Thomas Lebherz Textilmaschinen e.K., will showcase textile machinery spare parts at the two forthcoming textile fairs—Techtextil and ITMA 2019. At Techtextil, to be held from May 14-17, 2019, Xtema will be present in hall 3.0, booth D53, while it will be in hall 5, booth 125 at the ITMA fair, to be held from June 20-26.
Xtema represents a family tradition of over three generations in trading and servicing the textile industry since 1956. Besides the trade with quality second-hand textile machinery, the German company has successfully developed and established design and distribution of their own spare parts line over the last decade. The parts manufactured in Europe, are now being distributed to satisfied customers in over 45 countries worldwide.
The officials, who didn’t want to be named, said that once the US sanctions on Iranian oil kicked in, India’s future purchases from alternative energy suppliers will be finalised keeping in mind the country’s energy and commercial security.
The US sanctions will disrupt supplies from Iran, which accounted for 10% of India’s energy imports in 2018-19, but the officials said relying on US shale oil will be more expensive and require changes in the configuration of refineries currently set up to process Iranian and other crude.