Petrochemicals Automotive PBT Compounds
China – Polyethylene Terephthalate
PET and its chain are always weak.
Crude oil price is steady.
Polyamide 6 and its chain are in health.
Acrylonitrile is steady.
PET Bottle grade export 825/880 $/ton – PET Bottle grade domestic market 6,850/6,950 yuan/ton – PET Filament grade SD domestic market 6,750/6,850 yuan/ton – PET Filament grade BR domestic market 6,850/6,950 yuan/ton
PTA Taiwan 655/665 $/ton – PTA domestic market 5,000/5,100 yuan/ton – MEG 600/610 $/ton – MEG domestic market 5,050/5,200 yuan/ton – PX Korea 780/800 $/ton
Polyester POY 150D/48F domestic market 7,850/8,000 yuan/ton – Polyester DTY 150D/48F domestic market 9,300/9,450 yuan/ton – Polyester Staple PSF domestic market 7,550/7,650 yuan/ton
Crude Oil Prices Trend
I LEARNED from the news that the Mactan-Cebu International Airport (MCIA) will ban plastics. It will be the first plastic-free airport in the country, as their management claim. I am not exactly pleased by this move. Why? Because the MCIA will still allow the use of biodegradable plastic.
Biodegradable plastic is not the solution to the plastic waste problem. In fact, it may even cause another problem. Only recently, a committee of British lawmakers said that the biodegradable and compostable alternatives that are often touted as a great replacement, are in fact a problem in themselves. They said that most require an industrial composting facility to break down, and most people do not have access to this. This was confirmed by a United Nations report.
Drone attacks against the Abqaiq and Khurais oil fields on Sept. 14 in Saudi Arabia have roiled oil markets and, by extension, the global economy. But no country is feeling the strain as much as the kingdom itself.Petrochemicals Automotive PBT Compounds
The attacks, which Iran-allied Houthi rebels in Yemen have claimed responsibility for, immediately led to the disruption of 5.7 million barrels of crude production per day. That’s more than half the kingdom’s overall output, and a higher rate than most countries—aside from the US and Russia—produce in total.
Attack struck Aramco oil field and the world’s largest crude oil processing plant
Saudi Aramco attacks: Who is responsible, global reactions and your fuel prices
Dubai: An attack on Saudi Arabia on Saturday struck an oil field and the world’s largest crude oil processing plant owned by Aramco.
The attack knocked out 5.7 million barrels of crude oil production per day for the kingdom, or about 5% of the world’s daily production.Petrochemicals Automotive PBT Compounds
Saudi Aramco CEO Amin Nasser was reported as saying that it took around seven hours to extinguish fires after the terror attacks on their facilities.
Whether it was Houthi drones or Iranian cruise missiles, the recent attacks highlight the need to end Yemen’s civil war.
US Secretary of State Mike Pompeo has sought to blame Iran for an airstrike that crippled two Saudi Aramco facilities in Abqaiq and Khurais, attacked by either drones or a cruise missile, even though Yemen’s Houthis have claimed responsibility for the attack.
Any evidence produced by the US or the Kingdom of Saudi Arabia will be politicised and seek to implicate Iran, and the public will have to treat such “intelligence” with scepticism. Yet at the same time, the question remains as to whether the Houthis have the technological means to strike targets at such a far distance, a good 1,300 kilometres away? Petrochemicals Automotive PBT Compounds
Through a ‘Symphony of Collaboration’ with partners along the full plastics value chain, Clariant is taking proactive steps in addressing the problem of plastic pollution with new solutions for diverse industry sectors. Petrochemicals Automotive PBT Compounds
Complementing its “fit for reuse” solutions announced August 21 where Clariant demonstrated how its additives are recyclable, it now showcases the next level, turning the spotlight on how its additives can make it easier to recycle post-production and post-consumer plastic waste while keeping the material’s performance properties.
Soft chemicals sector demand growth at the start of 2019 continued to weaken into the summer as economic uncertainty weighed on customer appetite, but fears of a prolonged, global recession are receding, according to the CFO of Netherlands-based producer Nouryon.
“What we saw happening in Q2, a little bit in May and in a pretty significant way in June,” said Renier Vree, pictured. Petrochemicals Automotive PBT Compounds
“[Demand] was a lot lower than forecast and we have had customers that have put in orders saying: ‘Keep the order but please don’t ship it to me until Q3’. So we saw destocking happening across many of our businesses and multiple regions, but more in Europe.”
Nouryon is a key seller to players in the middle of the value chain, which then sell to consumer end markets, giving the company a view of current demand levels within the chemicals sector itself.
The attack on Saudi Arabia’s Abqaiq crude oil processing plant was so effective it is likely to take between two to four weeks to repair, according to new analysis by ICIS.
The drone attacks on 14 September damaged the Abqaiq and Khurais crude oil processing installations which supply feedstocks to Saudi Arabia’s three main petrochemical sites.
One photo released by the US government and DigitalGlobal appears to show a well-planned attack on all of the pressurised storage tanks at the Abqaiq processing plant.
Key Asian petrochemicals are facing pressure from lingering uncertainty from Saudi supply amid geopolitical tensions in the Middle East.
Prices of these plastics have mostly risen since the recent attacks on oil facilities in Saudi Arabia on 14 September, along with global crude futures which edged higher on Thursday following days of volatile trade.
Asia’s benzene prices has gained cumulatively over $30/tonne, on a free-on-board (FOB) South Korea basis, in the initial trading days following the attacks, tracking crude futures in the same period.
Greenfield efforts, M&A activity will boost recycling efforts
Thai chemicals company Indorama Ventures is investing $1.5 billion in recycling efforts as consumers become more aware of the environmental impact of single-use plastic and regulators push for more recycling. Indorama’s main business is the production of PET resin, a polymer used to make plastic bottles and fibers used in products such as seat belts and tyres.
In the 12 months to June 30 the company produced nearly 5,000 kilotons of PET.
An economic recession in the US in the next year and a half is unlikely, the chief economist of the American Chemistry Council (ACC) said on Wednesday.
“Of course a lot can happen, including shocks to the system as we saw over the weekend. But the consumer economy is doing very well with strong job creation, rising wages and the lowest unemployment since 1969 – two generations ago,” said ACC chief economist Kevin Swift.
“The pace of job growth has moderated but that’s primarily a supply issue with the retirement of baby boomers. When you ask CEOs their number one, two and three concerns of what keeps them up at night, one of them is always recruiting and talent retention,” he added.