Petrochemicals Biobased Synthetic Yarn
Crude Oil Prices Trend
According to the latest data, Japanese textile and apparel imports in Mar reached 216,500tons, down by 2% year-on-year, while those from China were 105,300tons, down by 4% year-on-year. In the first quarter, Japanese textile and apparel imports totaled 605,000tons, down by 7.5% year-on-year; the volume from China totaled 286,000tons, down by 13.1% year-on-year.
As can be seen from above, Japanese textile and apparel import demand weakened sharply in the first quarter of 2020, and the decline in the volume from China was larger than the total. Global textile and apparel industry has been greatly impacted hit by the accelerating outbreak. While the pandemic in China has been controlled and mills gradually returned to work, the global consumption and trade suffered comparatively in the epidemic spread outside China. Japan was no exception.
Australia-based based Security Matters and Germany-based BASF sign a joint development agreement to develop solutions for plastics traceability and circularity.
In this collaboration, Security Matters and BASF aim to offer a solution to move towards a circular economy, where plastics can be recovered and reused mechanically. As according to BASF, recycled plastic loses its mechanical performance properties and quality compared to virgin plastic due to polymer degradation and residual impurities and the recycling infrastructure is also expensive and complicated. Petrochemicals Biobased Synthetic Yarn
Achim Sties, senior vice president, performance chemicals Europe, BASF SE, said, “To tackle the global challenge, we have to rethink plastic applications with their end of life in mind. It is essential to progress towards a circular economy approach that closes the loop on end-of-life resources and allows us to recover and recycle plastics as efficiently as possible.”
let’s Start with our country. Oil production in Russia is not cheap in the first place, due to relatively high fiscal burden. According to Rosstat, in 2019, the average cost per ton of oil produced in Russia is 230,6 dollar, which is equal to 31.45 USD per barrel.
Most popular now a study on the cost of production made in the past year since IHS company, Saudi Aramco, gives slightly higher numbers for Russia, but only because in their calculation took into account all taxes and the excise tax and a mandatory 10% profit. Taking into account these supplements the official statistics of Rosstat and the results of the study IHS Markit quite comparable. Petrochemicals Biobased Synthetic Yarn
According to the version of IHS, the profitability of oil production in Russia for land projects is $ 42 per barrel, and for marine – $ 44 per barrel.
US polyvinyl chloride (PVC) spot export prices firmed as demand returned in China and US producers raised offers.
The higher demand in China brought some positive sentiment in global markets for a return to more normal markets and reversed a weeks-long slide in prices.
The US assessed spot export range rose an average of $20/tonne to a narrower range of $550-570/tonne. Petrochemicals Biobased Synthetic Yarn
BP plc has announced that bp Australia is taking part in a feasibility study related to an export-scale renewable hydrogen production facility in Western Australia.
The extensive study will help BP and the energy sector better understand the possibilities of using hydrogen to export renewable energy at scale.
The project will include an initial investment from bp of (AUS) $2.7 million, with a further $1.7 million being funded by Australian Renewable Energy Agency (ARENA) as part of its Advancing Renewables Program. bp Australia will be supported by GHD Advisory to deliver the study. Petrochemicals Biobased Synthetic Yarn
Employment in the German chemicals sector fell 5% in April as a result of the coronavirus pandemic, according to research from the Ifo institute on Monday.
While the pharmaceutical industry has recorded no job loss due to the pandemic, other markets downstream of the chemicals sector have marked much higher cuts in the same period. Petrochemicals Biobased Synthetic Yarn
The services sector marked the largest decline as lockdown measures have prohibited hotels, restaurants and travel agents from operating.
In the manufacturing sector, 39% of automotive companies have recorded a downturn in employment figures, surpassed by a 48% drop of jobs in leather, leather goods and footwear manufacturers.
Shares of petrochemical firms in Asia traded higher on Monday due to easing coronavirus-related restrictions across the region, while oil prices continued to be weighed down in an oversupplied global market.
Oil giant Saudi Arabia will triple its value-added tax (VAT) rate to 15% effective July to shore up revenues hit by the recent crash in crude oil prices, as it rationalizes spending amid the coronavirus pandemic. Petrochemicals Biobased Synthetic Yarn
In China, resumption of infrastructure construction drove up domestic prices of high density polyethylene (HDPE) pipes. Demand for the material typically peaks in the second quarter due to warmer weather.
GCC ethylene glycol (EG) imports into India may be severely hurt as a result of an ongoing anti-dumping investigation targeting imports from Saudi Arabia, Kuwait, Oman, UAE and Singapore, according to the Gulf Petrochemicals and Chemicals Association (GPCA), the regional trade body representing the common interests of the chemical and allied industries in the Arabian Gulf. Petrochemicals Biobased Synthetic Yarn
The inconsistent investigative practices by Indian authorities on anti-dumping regulations raise serious concerns under World Trade Organization (WTO) rules and threaten to severely hurt GCC economies, jeopardising $543 million worth of mono ethylene glycol (MEG) imports, which is equivalent to 20 per cent of total chemical imports from the region into India, according to GPCA analysis.
South Korean petrochemical producer Lotte Chemical expects low feedstock costs and a gradual recovery in demand to boost its olefins and aromatics profits in the current quarter.
A plunge in naphtha prices amid the Covid-19 pandemic will be better reflected in feedstock costs for April-June than in the first quarter, as those cheaper supplies are put into production, Lotte said. And the company sees the beginning of a recovery in olefins demand in China and the rest of northeast Asia, although demand will remain weak elsewhere in the world. Petrochemicals Biobased Synthetic Yarn
Nordson Corporation reports supplying large quantities of gear pumps and screen changers to producers of melt blown polypropylene microfiber sheet for the masks, gowns, and other personal protective equipment (PPE) used by healthcare workers.
Since the COVID-19 outbreak, Nordson has shipped many BKG NorCon screen changers to global market leading extrusion OEMs in Europe and even greater numbers of BKG BlueFlow gear pumps to OEMs around the world, including China. Petrochemicals Biobased Synthetic Yarn
Angelo Radici is president of the multinational company of the same name born 75 years ago in Gandino, the center of 5 thousand souls, 26 kilometers from Bergamo.
The RadiciGroup represents one of the many miracles in the province most affected by the pandemic, an area designed by peaks, crests and valleys, even impervious, yet by very vital entrepreneurship.
It is precisely at the top of a valley that this giant of chemistry, technopolymers and synthetic fibers arose.
The entity of the colossus? The numbers speak for themselves: € 1.2 billion in sales, 3100 employees, presence in 16 countries, 24 production sites, 8 sales offices.
Angelo Radici is the seventh protagonist of the cycle of interviews dedicated to D.C. (After Coronavirus) designed by the Italian entrepreneurial greats.
Thus speaks the captain of a company on the front line in dealing with the emergency.
The Bergamo companies have created many alliances to deal with Covid-19. Was this synergistic spirit breathed even before the pandemic or was it the emergency that triggered it?
I think that the link with our territory and the sense of belonging to the community are traits that have always characterized us.
The difficulties of the moment have made these aspects stand out even more clearly, as evidenced by the various solidarity initiatives put in place quickly and effectively.
The big advantage was having skills at the local level. It was enough to activate us by phone to find companies willing to team up, with the awareness of collaborating between “friendly” entrepreneurs.
Could new production chains arise from this misfortune?
Even from the most difficult situations, positive lessons can be drawn. Certainly the period we are living has constituted a precious test bench that has laid the foundations for important synergies that would be worth cultivating even after the pandemic.
Like RadiciGroup, in this phase we have created a totally new chain for the realization of certified protective devices and gowns for hospitals trying to make up for the great lack of this production in Italy.
The hope for the future is that it is understood that some supply chains are indispensable at national level. In order to restart the local economy, but in general that of the whole country, everyone’s contribution is needed, making use of skills and opportunities.
Petrochemicals Biobased Synthetic Yarn