Petrochemicals PET Polyamide DTY
Crude Oil Prices Trend
A major producer of petrochemical products in Northeast Asia (NEA) has lowered its price offer for polyvinyl chloride (PVC) for May deliveries to the Chinese market by USD160 per tonne compared to April, market sources told ICIS .
So, the company’s May price offers for China were announced at the level of USD660 per tonne, CFR China, with a discount of USD10 per tonne for material volumes from 500 tons, market sources said.
For the markets of Southeast and North-East Asia (NEA), as well as for other regions, the company called May PVC price offers at the level of USD630 per ton, FOB NEA / SEA / other regions. The above discount also applies.
This Asian manufacturer also announced that it will not voice its May offer for supplies to India due to quarantine in that country, which has led to a reduction in demand.
-Europe ethanol prices have spiked to record levels while chemical tankers are being used to store low-priced petroleum products.
Listen to this podcast interview with Clare Pennington who covers ethanol and shipping for ICIS. Petrochemicals PET Polyamide DTY
New quarterly ethanol contract saw 20% plus increases to highest prices on record
Ethanol producers have to restrict volumes even to regular customers
New players start to produce hand sanitizers
Sanitizer production jumps have meant full year’s worth of demand in January-April 2020 for some producers
Asia’s benzene market fell below $300/tonne FOB (free on board) Korea this week, in continued volatile trading.
Market participants expect benzene to remain volatile in the near term, given its responsiveness to crude oil.
The spot market staged a rebound last week to above $300/tonne, in tandem with the surge in energy futures. The drop in energy markets this week dragged the benzene market lower, as it takes direction from the oil sector. Petrochemicals PET Polyamide DTY
“Asia benzene is following the trends in the oil markets,” said a broker in South Korea.
US-based automaker Fiat-Chrysler (FCA) has delayed its North American plant restarts, which were set to begin next week, after more than a month of Covid-19-related shutdowns.
The automaker said it is reevaluating its plant restarts, which were set to begin 4 May, due to updates to state stay-in-place orders. Petrochemicals PET Polyamide DTY
FCA was the only one of the major three US automakers that had announced a plant restart date. FCA, General Motors (GM) and Ford all had closed their auto plants in mid-March due to pressure from the union that represents their auto workers.
Oil prices should rise “closer to $40/bl” next year, assuming oil demand recovers from the Covid-19 pandemic and Opec and its partners stick to their output cut deal, trading firm Mercuria chief executive Marco Dunand told Argus. Petrochemicals PET Polyamide DTY
“If you believe that life will go back to normal in half a year, then oil demand should come back. Probably not exactly immediately to where it was before, but it should gradually go back up to 100mn b/d,” he said. “For 2021, with demand at that level, or even 5-10pc down, and combined with the decision by Opec and some other countries to reduce production, we should be able to go back to a market which is probably closer to $40/bl.”
Following an initial rescheduling of the 2019 edition to July, the organisers of the annual Chinaplas exhibition have announced the postponement of the next edition until April 2021.
The move comes as Adsale Ltd takes advice from the State Council of China, which advises the postponement of all exhibitions as a part of ongoing control and prevention measures against Covid-19. Petrochemicals PET Polyamide DTY
The next edition of Chinaplas, which has already been rescheduled once from its initial date of May this year to July, will now miss 2019 completely, returning from 13-16 April 2021.
Oil and gas firm BP recently entered into a new strategic cooperation agreement with Chinese polyethylene terephthalate (PET) plastic producer China Resources Chemical Innovative Materials Holdings Limited (CRC) to jointly work on improving the polyester value chain and sourcing of purified terephthalic acid (PTA).
“BP and CRC already have a close and longstanding relationship and we look forward to building on it further,” Luis Sierra, chief executive officer of BP’s Global Aromatics Unit, said in a company press release this month. “We can see opportunities to work together to streamline and increase collaboration along the polyester value chain, improving flexibility, and creating value.” Petrochemicals PET Polyamide DTY
The Chinese company is a major buyer of PTA produced by BP. Under the terms of the deal, the oil and gas company will invest in CRC and acquire some of its stock.
-HeiQ’s high manufacturing capability plays an important role in our fight against the spread of the Corona virus.
We launched our antiviral HeiQ Viroblock NPJ03 textile technology on March 16 this year and celebrated the production of 1000 tons of HeiQ Viroblock NPJ03 a few weeks back. Now we’re closing in on 2000 tons!
A big thank you goes to our expert guys and girls in our production facilities in Concord (NC, USA), Calhoun (GA, USA), Bad Zurzach (Switzerland) and Geelong (Australia).
All in all, HeiQ has a manufacturing capability of more than 35,000 tons per year. We intend to make it count! Petrochemicals PET Polyamide DTY
HeiQ’s high manufacturing capability plays an important role in our fight against the spread of the Corona virus. We launched our antiviral HeiQ Viroblock NPJ03 textile technology on March 16 this year and celebrated the production of 1000 tons of HeiQ Viroblock NPJ03 a few weeks back. Now we’re closing in on 2000 tons! A big thank you goes to our expert guys and girls in our production facilities in Concord (NC, USA), Calhoun (GA, USA), Bad Zurzach (Switzerland) and Geelong (Australia). All in all, HeiQ has a manufacturing capability of more than 35,000 tons per year. We intend to make it count!
Posted by HeiQ on Tuesday, 28 April 2020
Circulate Capital invested $6 million in plastics recycling companies in India and Indonesia, the brand-backed firm’s first outlay designed to prevent marine plastics.
The Singapore-based investment management company said the money came from its Circulate Capital Ocean Fund (CCOF), a $106 million fund backed by some of the world’s largest brand owners and plastics manufacturers.
Circulate Capital spun off from U.S.-based Closed Loop Partners and is led by Rob Kaplan, co-founder of Closed Loop Partners. The company announced late last year it had secured funds and was gearing up to invest the money. Petrochemicals PET Polyamide DTY
Petrochemicals PET Polyamide DTY