Sinopec Raises September MEG Prices In East China By CNY530 Per Ton
MOSCOW – China China Petroleum & Chemical Corp. (Sinopec), Asia’s largest oil refining company, set September 25 September contract prices for monoethylene glycol (MEG) in eastern China at CNY5 180 (USD720.5) per tonne, which is CNY530 or USD74 per tonne higher than the previous month, a source in ICIS said company.
The increase in MEG prices is explained by a decrease in stocks, as well as attacks on oil plants in Saudi Arabia. Four plants of Saudi companies have a total MEG capacity of 1.835 million tons per year. Sinopec Monoethylene Glycol Prices
MEG spot prices in China on September 23 were at CNY5 135-560 per tonne.
MEG along with terephthalic acid (TFA) is one of the main components for the production of polyethylene terephthalate (PET).
According to ScanPlast of Market Report, in Russia the total estimated consumption of PET in July of this year decreased by 4% compared to the figure a year earlier. In total, according to the results of the seven months of 2019, 428.79 thousand tons of PET were processed in the Russian Federation.
China China Petroleum & Chemical Corp. (Sinopec), Asia’s largest oil refining company, set September 25 September contract prices for monoethylene glycol (MEG) in eastern China at CNY5 180 (USD720.5) per tonne, which is CNY530 or USD74 per tonne higher than the previous month, a source in ICIS said company.
The global automotive industry is an indispensable part of the manufacturing sector and a cornerstone for economic development among all major countries in the world.
This can be attributed to the fact that industrial activities such as trade and transportation rely largely on the automotive industry.
The automotive sector consumes a significant amount of textile materials for interior trims such as seating areas, headliners, carpets, side panels, dashboards, air bags, seat belts and filters, among other parts which may be visible or concealed within an automobile.
First Graphene has signed an exclusive agreement with the UK’s University of Manchester, with the duo to collaborate on the development of energy storage materials including a new class of high-performance capacitors made from a graphene-hybrid.
This latest agreement expands on the duo’s formerly-established collaboration, with both organizations to make metal oxide decorated graphene materials, which have very high gravimetric capacitance of up to 500 Farads/g. Manchester University’s previous research has revealed high capacitance materials up to 500 Farads/g are possible and outperform existing materials.
Oil prices have already pulled back from their surge following last weekend’s drone attacks on Saudi Arabia’s oil infrastructure. This has led some to say “See, it’s a big nothing-burger.”
I believe they are seriously missing the point and underestimating the implications.
These attacks are unprecedented in the history of the global oil industry. These attacks against one of Saudi Arabia’s largest oilfields and the world’s biggest crude processing facility at Abqaiq sidelined a total of 5.7 million barrels per day (BPD) of oil production.
The Pilot Vision+ in-blowmolder inspection system from Agr International tackles challenges from increased levels of recycled PET.Petrochemicals Automotive Industry Graphene
Recycled PET (rPET) has been a popular theme at PACK EXPO Las Vegas this week, reflecting an increasing number of CPGs asking for their plastic packaging to be made from higher and higher percentages of recycled content. But as those percentages rise, so does the potential for defects and color variations.
Innovia Films recently hosted a return visit from Sue Hayman MP, Shadow Secretary of State for Environment, Food & Rural Affairs, accompanied by Sandy Martin MP, Shadow Minister for Waste & Recycling.
Stephen Langstaff delivered the Wigton, Cumbria headquartered firm’s sustainability presentation which highlights what it is doing to develop products that can reduce food waste while facilitating easier recycling.
The company also took the opportunity to emphasise the need to standardise waste collection across the country and the need to collect and recycle flexible packaging.
New EnviroFlex PE delivers sustainability attributes, including return-to-store recycling.
Sonoco announced the introduction of EnviroFlex PE recyclable polyethylene flexible packaging. EnviroFlex PE is eligible to use the How2Recycle Store Drop-Off label, which means it can be dropped off (clean and dry) at local retail stores for recycling with grocery bags.
A project of the Sustainable Packaging Coalition (SPC), How2Recycle is a standardized la-beling system that clearly communicates recycling instructions to the public in accordance with Federal Trade Commission Green Guides.