China – Polyethylene Terephthalate
PET and its chain begin again to show a downward trend,with exception of MEG.
Crude oil is weak.
Polyamide 6 and its chain continue to show a downward trend.
PET Bottle grade export 870/920 $/ton – PET Bottle grade domestic market 7,000/7,100 yuan/ton – PET Filament grade SD domestic market 6,450/6,550 yuan/ton – PET Filament grade BR domestic market 6,550/6,650 yuan/ton
PTA Taiwan 740/750 $/ton – PTA domestic market 5,400/5,500 yuan/ton – MEG 535/545 $/ton – MEG domestic market 4,250/4,350 yuan/ton – PX Korea 830/840 $/ton
Polyester POY 150D/48F domestic market 7,350/7,450 yuan/ton – Polyester DTY 150D/48F domestic market 9,100/9,200 yuan/ton – Polyester Staple PSF domestic market 7,200/7,300 yuan/ton
Crude Oil Prices Trend
INEOS is to take its first stepsinto Middle Eastern production, with plans for$4bn of downstream production units in SaudiArabia by 2025, the Switzerland-headquarteredpetrochemicals producer said on Monday.
The company hasagreed to develop three new world-scale plantsin the country, including the firstacrylonitrile (ACN) capacity in the MiddleEast, the company said.
Representing a diversification beyond INEOS’ traditional Europe and US operational base, theunits will be developed as part of thecracker and petrochemicals projetc beingdeveloped in Jubail by Total and Saudi Aramco.
There is an urgent need to address packaging waste, a challenge that is widely acknowledged by the packaging industry, brands, and consumers. The desire is there, but the challenge has been finding solutions. A new material now makes recycling an option for previously hard-to-recycle high-barrier packaging.
Packaging plays a vital role in protecting food and medicines and avoiding product waste, yet the packaging that provides the highest levels of protection is often the most difficult to recycle. Recognising this challenge, Amcor’s R&D team set to work. The result is a new solution for high-barrier packaging that is recyclable yet still preserves sensitive products.
Asia’s naphtha pricesextended their downward spiral on the back ofweakening oil prices and a persistent supplyglut, as cargo deals fetch deeper discounts.
Open-specification naphtha prices forsecond-half July delivery stood at$467.25/tonne CFR (cost & freight) Japan inthe morning session on Monday.
Spot prices were down by some 7% from theclosing in Asia on 31 May, ICIS data showed. Thermoplastics Petrochemicals Recycling Thermoplastics Petrochemicals Recycling
Saudi Arabia’s energy minister Khalid al-Falih is confident the OPEC alliance will “do what is needed to sustain market stability beyond June,” signaling the 24-member oil exporters coalition may continue its policy of production cuts amid global economic concerns and volatile crude oil prices.
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The coalition’s 1.2 million b/d output reduction deal is up for review at the end of the month, but the date for the next OPEC/non-OPEC meeting to decide whether to roll over the agreement is still up in the air.
DuPont Transportation & Advanced Polymers (T&AP), a business unit of DowDuPont Specialty Products Division, showcased three sustainable propositions including bio-based materials, e-F.A.S.T. (friction abating sliding thermoplastics) materials and PCR (Post-Consumer Recycled) solutions at Chinaplas 2019.
DuPont’s bio-based material is DuPont Zytel RS polyamide, which is made from castor oil – this brings the smart functionalities of Roborock Vacuums to life.
Despite some promising efforts to address the growing problem of plastic waste like banning plastic shopping bags or straws, specific prevention targets for different plastic waste are still not widespread in Europe, according to a European Environment Agency (EEA) assessment published today. Only nine countries have explicit targets in place for plastic waste prevention.
The EEA report ‘Preventing plastic waste in Europe,’ provides a state-of-play of plastic waste prevention in Europe.
It mapped and analysed efforts across EEA Member Countries to address plastic waste generation through prevention measures. The assessment says that prevention of the most environmentally harmful plastic types, such as single-use plastics and non-recyclable plastic products should be prioritised. Thermoplastics Petrochemicals Recycling
By 2025, 100 per cent of the cotton used by Benetton Group will be sustainable, either organic or recycled or will be sourced from Better Cotton Initiative (BCI) farmers.
Always committed to reducing the environmental footprint of its activities, Benetton Group, a member of the BCI since 2017, has already started the transformation process.
In 2018, organic cotton – cultivated according to the strict principles of bio-cultivation, free from GMOs and with a reduced environmental impact – represented 4.7 per cent of all the cotton garments produced by the company.
Itema, the Italian global provider of best-in-class weaving solutions, will showcase new innovations on the ITMA fair to be held from June 20-26 at Barcelona, Spain. The recently launched Itematech by Itema, a new division dedicated to technical textiles born as a result of agreement signed with PTMT, will display 3 stands and 11 weaving machines.
At the fair, seven machines will be displayed along with special products highlights in the Itema booth including two absolute new market launches, a never-before-seen weaving insertion concept and a series of weaving novelties, said Itema in a press release.
Two new performance polyethylene polymers for high-quality flexible packaging, and recyclable full PE laminated packaging solutions were introduced by ExxonMobil at Chinaplas 2019.
“Advancing polyethylene technology is an important part of our commitment to helping customers grow their businesses”, said David Hergenrether, ExxonMobil Chemical vice president, polyethylene. “By working together, we can help customers create differentiated packaging solutions that offer enhanced performance and processing, while helping them to meet their sustainability goals”.
Saudi Arabia indicates that OPEC and other oil producers will continue managing global crude supplies to avoid a surplus.
Concern that a U.S.-China trade war and threats of tariffs on Mexico from Washington would diminish global crude demand weighs on oil prices.
The prospect of a cut in Norway’s oil and gas output if workers go on strike from June 4 also supports prices.
Oil futures ended the session lower after back-and-forth trading on Monday, as Saudi comments indicating OPEC would extend supply cuts supported prices, while concerns that U.S. tariffs on China and Mexico would hurt demand weakened crude market sentiment.