Indorama raises February MEG prices in the US by USD44 per ton
MOSCOW – Indorama Ventures Company Ltd (IVL), the world leader in the production of polyethylene terephthalate (PET), raises the prices of monoethylene glycol (MEG) for supplies to the United States in February by 2 cents per pound (USD44 per ton), according to company message.
The company said the reason for the increase was reduced supply and increased demand, as well as rising prices in Asia. Prices in Asia, which tend to affect the cost of MEGs in the United States, are rising amid declining stocks at ports.
Earlier it was reported that Shell Chemicals announced an increase in the contract price of monoethylene glycol (MEG) for deliveries in February to the US market by 2 cents per pound or USD44 per ton. The price increase will take effect on February 1 and is consistent with the terms of current contracts. Indorama February Monoethylene Glycol
The main manufacturers of MEGs in the USA are Eastman Chemical, Huntsman, Indorama Ventures, LyondellBasell, Nan Ya Plastics, Shell Chemical and MEGlobal.
MEG is one of the main raw materials for the production of polyethylene terephthalate (PET).
According to the ICIS-MRC Price Review , at the end of December last year, activity in the external PET markets was very low amid holidays in Europe. Prices in the Chinese market remained at the level of the second half of the third week of December. Activity in the Russian spot PET market at the end of 2019 increased sharply. Free volumes for spot buyers in a significant amount remained only at the Kaliningrad plant Ecopet.
Indorama Ventures PLS is one of the world’s leading manufacturers of PET, TPA, MEG (in the USA), as well as polyester filaments and fibers. Indorama February Monoethylene Glycol
Khalifa Haftar cuts country’s economic lifeblood in effort to gain leverage
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Khalifa Haftar, the military strongman trying to seize political power in Libya, has halted oil shipments from ports under his control as he attempts to gain leverage ahead of peace talks in Berlin on Sunday.At least 800,000 barrels a day of crude supplies worth roughly $55m per day, the economic lifeblood of the country, have been halted, according to the National Oil Corporation (NOC), the state-owned oil company. The country was pumping around 1.3m b/d previously.
As policy makers, governments and organisations around the world continue to explore ways to reduce or eliminate the amount of plastic packaging sent to landfills, recyclers have been hampered by their limited capacity to sort plastic by polymer type. Professor Edward Kosior of Nextek discusses the latest developments that support Polypropylene waste sorting. Bioplastic CrudeOil ReNylon Recycling
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CCL Industries has signed a binding agreement to acquire Polish BOPP film producer Flexpol for an estimated 22 million USD on a debt/cash free basis with closing expected in the first quarter of 2020.Bioplastic CrudeOil ReNylon Recycling
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Thank you for reading the news about Gulf’s use of oxo-degradable plastics is toxic for environment and now with the detailsAden – Yasmine El Tohamy – Plastics and single-use plastics have been a recent hot topic; take for example Dubai Airport’s pledge to ban single use plastics in 2020.However, there is a serious need to investigate the benefit of current policies in place. Bioplastic CrudeOil ReNylon Recycling
To gain a deeper insight, particularly the area of plastic in the wider Gulf region, The New Arab speaks with a COO of a leading UAE plastic manufacturer as well as Dr Akram Madanat of Karak Star for Recycling in Jordan.
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