Tongkun plans to build a production of TPA and polyester in China
MOSCOW – The Chinese Tongkun Group plans to invest CNY16 billion (USD2.4 billion) in the construction of new production facilities for the production of purified terephthalic acid (TPA) and polyester in Rudong, Jiangsu Province, ICIS reports.
The project will be implemented in two stages, and the products will be supplied to the domestic market.Tongkun TPA polyester China
The first phase of the project, which will cost CNY12 billion, will include the construction of two TPA lines, each with a capacity of 2.5 million tons per year, as well as a line for the production of elongated polyester yarn (FDY) 300 thousand tons and a line of partially oriented polyester yarn (POY ) 900 thousand tons per year.
The second phase of the project will include the construction of the FDY line at 600 thousand tons per year and the POY line at 600 thousand tons per year.
Tongkun plans to start the first phase of construction at the end of this year and complete it at the end of 2022. The second stage is scheduled to be completed in two years, starting in December 2023. Tongkun TPA polyester China
TPA is one of the main components for the production of polyethylene terephthalate (PET).
According to Scan Report Company Market Report, in Russia, the estimated consumption of PET in January-March of the current year increased by 21% and amounted to 179.05 thousand tons. In March, the total estimated consumption was 64.35 thousand tons, which is 6% higher than the previous year.
Tongkun currently has a total TPA capacity of 3.7 million tons per year at Jiaxing in Zhejiang Province.Tongkun TPA polyester China
TongKun Group Co., Ltd. based in Tongxiang, Zhejiang Province, China, was founded in 1987. The company produces PET and is the largest polyester yarn manufacturer in China. The company has 10 subsidiaries.
US plans to introduce additional duties on goods from China
MOSCOW – The United States plans to impose additional duties on goods from China for another USD300 billion, Kommersant reports.
At the same time, from May 10, the United States increased the tariffs for the import of a number of Chinese goods from 10% to 25%. US President Donald Trump earlier warned China against imposing retaliatory duties. According to Trump, if Beijing responds, the situation will only get worse. US additional duties China
Earlier it became known that China, from June 1, introduces import duties on exports from the United States to various groups of goods in the amount of USD60 billion. Their size will vary from 5% to 25%. According to the Ministry of Finance of China, the introduction of duties by the United States “led to an escalation of China-US economic and trade relations, contrary to the consensus between China and the United States to resolve trade disputes.” Thus, the interests of both parties were put at risk and not meeting the general expectations of the international community, according to the Ministry of Finance of China. US additional duties China
The trade war between the two countries began in the summer of 2018. Washington and Beijing imposed duties on each other, the losses from which on each side were estimated at USD34 billion. In December, at the G-20 summit in Buenos Aires, the United States and China managed to agree on a “truce of commerce” that expired in March.US additional duties China
The Chinese Tongkun Group plans to invest CNY16 billion (USD2.4 billion) in the construction of new production facilities for the production of purified terephthalic acid (TPA) and polyester in Rudong, Jiangsu Province.
The project will be implemented in two stages, and the products will be supplied to the domestic market.
Tongkun TPA polyester China The first phase of the project, which will cost CNY12 billion, will include the construction of two TPA lines, each with a capacity of 2.5 million tons per year, as well as a line for the production of elongated polyester yarn (FDY) 300 thousand tons and a line of partially oriented polyester yarn (POY ) 900 thousand tons per year.
China’s latest tit-for-tat move in its 10-month trade war with the US will hit some key chemicals such as polymers, aromatics and methanol.
It announced late on Monday that it will raise tariffs on $60bn of US goods from 1 June, in response to the US’ tariff hike on $200bn worth of Chinese goods that took effect on 10 May.
China will impose a higher tariff rate of 25% on imports of toluene, xylene, paraxylene, methanol, purified terephthalic acid (PTA), polystyrene, acrylonitrile-butadiene-styrene (ABS), polyvinyl chloride (PVC) , toluene di-isocyanate (TDI) and methylene diphenyl di-isocyanate (MDI), among others.
These chemicals are currently levied tariffs of 10%. (Please see complete list below)
In a separate announcement issued on Monday night, China’s Ministry of Commerce said that Chinese importers can apply for tariff waivers to mitigate the impact of the trade war on operations. Polymers Petrochemicals Recycling Textiles
Evonik, one of the world’s leading specialty chemicals companies, is set to celebrate 35 years of polyimide fibre chemistry by displaying its latest generation of fibre at Techtextil 2019 expo, in hall 4.2, booth B37. The leading international trade fair for technical textiles and nonwovens will be held from May 14-17, 2019, in Frankfurt, Germany.
In 1984, for the first time ever, it was possible to spin fibres from the high-performance plastic polyimide. This innovation was embedded by Evonik in the brand name P84 which has stood for high-temperature-resistant fibres for demanding industrial applications ever since, according to a media statement by the company.
The Board of Directors of Aquafil S. The Board of Directors of Aquafil S.p.A. [ECNL: IM] approved the economic and financial results at 31 March 2019. • Turnover as of 31 March 2019: euro 145.3 million; + 3.2% compared to the same period of 2018 (€ 140.8 million); • EBITDA at March 31, 2019: equal to euro 19.1 million; -14.2% compared to the same period of 2018 (€ 22.3 million); • Adjusted EBIT at 31 March 2019: equal to € 11.0 million; -30.6% compared to the same period of 2018 (€ 15.9 million); • Net profit at 31 March 2019: equal to € 7.7 million; -21.9% compared to the same period of 2018 (€ 9.8 million); • Net financial position at March 31, 2019 of euro 213.3 million including the adoption of IFRS 16 (€ 157.3 million at December 31, 2018);
Trades in Asia’s petrochemical markets are largely cautious ahead of a major regional conference, as uncertainty over the intensifying trade war between the US and China continued to cloud business sentiment.
A container ship is unloaded at the Virginia International Gateway terminal in the US. President Donald Trump’s latest tariff hike on Chinese goods took effect 10 May and Beijing said it would retaliate, escalating a battle over China’s technology ambitions and other trade tensions. (Steve Helber/AP/Shutterstock)
The trade war between the world’s two biggest economies has escalated as market players prepare for the 2019 Asia Petrochemical Industry Conference (APIC) in Taipei, Taiwan, on 16-17 May, with the theme: “Smart Petrochemical Processes – Sustainable Solutions Enabling a Better World”.
Industry players were mostly mulling over the potential long-term impact of the latest round of tit-for-tat tariff hikes by the US and China.
Italy-based Eni Group’s chemical subsidiary Versalis has signed an agreement with European company Montello to develop new range of plastic products made from recycled packaging.
As part of the deal, the firms will develop a range of products that can contain up to 70% of post-consumer plastic to mostly meet the demands of the packaging and agricultural sectors.
Eni said that the new developments are created through an innovative process and in partnership with Montello laboratories and the Versalis Research Centre in Mantua.
The firm said in a statement: “Advances in consolidated technological and commercial expertise in the polyethylene industry has enabled the two companies to develop a range of products that can contain up to 70% of post-consumer plastic.”
The undisclosed client companies have already conducted industrial tests, resulting in positive feedback.
Versalis CEO Daniele Ferrari said: “At Versalis we are committed to developing tangible circular economy solutions and to do this we believe it is essential to combine the strengths and skills throughout the supply chain.
“To truly close the loop, recycled plastic must be transformed into new raw materials for high-value applications, which is why we are partnering with Montello, a leader in the recycling sector.” Polymers Petrochemicals Recycling Textiles
Trevira, the specialist for functional fibres and yarns, will be exhibiting at the Techtextil 2019, in hall 4.2, stand D19. The leading expo for technical textiles and nonwovens will be held from May 14-17, 2019, in Frankfurt, Germany. Trevira will present its products for a wide range of applications in the area of technical and functional textiles.
Trevira will appear at Techtextil 2019 together with other exhibitors owned by parent company Indorama Ventures. Sustainability will play a key part in Trevira’s display and across the entire Indorama joint fair booth, which will reveal a number of new developments, the company said in a press release. Polymers Petrochemicals Recycling Textiles
Before the start of 2019 Copenhagen Fashion Summit from May 15, and roughly two years after announcing the Sympatex Agenda 2020 in January 2017 and the corresponding commitment to closing the textile loop for functional materials as quickly as possible, Sympatex is now raising the bar to the highest level when it comes its sustainability goals.
Sympatex is now racing down the home stretch toward the finish line of a circular textile economy. The goal is to have within the next five years at least half of the raw materials necessary for its functional laminates originate from a circular textile supply chain and be fully recyclable again – and be 100 per cent circular by 2030.
Polyplex and TPL have presented a bioriented (Biaxially oriented) polyester films containing 70% post-consumer recyclate.
The development of these films was made possible thanks to investments in chemical recycling. This technology uses post-consumer PET bottles. The bottle flakes are depolymerized to monomers and in the further polymerization transformed to PCR PET resins suitable for extrusion into BOPET films. This operation can be repeated indefinitely and the BOPET produced with this technology are suitable for direct food contact in accordance to USFDA and European legislation.
A common misconception is that the incorporation of recycled content creates a lower grade product, but this doesn’t have to be the case.