Petrochemicals CrudeOil Nylon6 ACN
Crude Oil Prices Trend
Cabot Corporation (Boston, Massachusetts) reports a fiscal third-quarter net loss of USD6 million, down from income of USD32 million in the year-ago quarter, said Chemweek.
Net sales totaled USD518 million, down 39% year-over-year (YOY) from USD845 million. The company attributes the results to the sharp decline in the automotive and tire sectors. Adjusted earnings per share came to a 7-cent loss, down from profit of USD1.00 in the year-ago period, and short of the average analyst estimate of a 2-cent loss as compiled by Refinitiv (New York).
“Volumes and product mix across our businesses declined by over USD100 million in the third quarter as compared to the prior-year quarter, driven primarily by lower demand in the tire and automotive sectors as manufacturers temporarily halted production in response to the COVID-19 pandemic,” says president and CEO Sean Keohane. “As the quarter progressed, our customers slowly restarted operations during May and June. The sequential improvement in monthly reinforcement materials volumes through the quarter is a positive indicator that we are exiting the quarter in a stronger position than where we started.”
According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI), fell by 1.1 percent in June on a three-month moving average (3MMA) basis following a 2.0 percent decline in May and a 3.0 percent decline in April, said Americanchemistry. Petrochemicals CrudeOil Nylon6 ACN
During June, chemical output fell across all regions, with the steepest declines in the Gulf Coast, Midwest and West Coast regions.
Deemed an essential industry by the U.S. Department of Homeland Security, chemical production eased on a 3MMA basis, with declines in segments except chlor-alkali, industrial gases, other basic inorganic chemicals, and consumer products, which were slightly higher. Within several major segments, production of some chemical materials increased, including supply chains tied to PPE and disinfection products.
Giving a new life to plastic trash gets Carlos Bento out of bed every morning. But the coronavirus pandemic has seen revenues drop up to 40 percent at Micronipol, the large recycling facility he runs in central Portugal, and it faces an uncertain future.
Micronipol produces recycled polyethylene, the base for plastic bags and bottles. The product is piling up at its warehouses as clients, facing their own economic struggles, shelve their recycling goals. They are opting for cheaper alternatives: non-recycled plastics made from hydrocarbons. Petrochemicals CrudeOil Nylon6 ACN
As lockdowns were put in place worldwide, a drop in demand for oil pushed prices to historic lows, making virgin plastics — already becoming cheaper than the recycled equivalent — even more affordable.
“If we are no longer competitive and if we lose cash we have two options: Either someone has to subsidise us so we can keep working or we have to shut down,” said Bento, as he stood near a pile of colorful recycled plastic bales.
Lower virgin plastic prices could spell disaster for the future of European recyclers like Micronipol.
Demand for spandex marginally improved since the second half of Jul. Foreign orders from Europe, Japan and South Korea restored, and urgent orders from US appeared as some products were sold out in shopping mall. Local demand for fabric was stable and robust. Sales of spandex were supported by moderate domestic and foreign demand recently. Some dealers restocked spandex under low price in expectation of traditional peak season. As a result, sales of spandex apparently improved. Petrochemicals CrudeOil Nylon6 ACN
Circular knitting plants witnessed better business in recent 2 months, reversing the sluggishness in Jan-May. Operating rate of circular knitting plants in Zhejiang, Jiangsu and Guangdong ascended to 30-50% or above in early-Aug from 30-40% in early-Jul, and plants focused on producing healthy fabric, rib fabric and thermal fabric, with rising content of bare spandex. That meant obviously better rigid demand for spandex.
Lotte Chemical has taken over a Vietnamese high-tech material company to attain its vision of becoming the seventh-largest chemical industry in the world, said Businesskorea.
The company is diversifying its overseas business portfolio, ranging from basic materials to high-tech materials. Petrochemicals CrudeOil Nylon6 ACN
Lotte Chemical acquired Vina Polytech in April. Vina Polytech produces materials for home appliances and mobile products. Lotte Chemical has invested billions of won to acquire it.
Shortly after the acquisition of Vina Polytech, Lotte Chemical set up a local corporation in Indonesia under the name of PT Lotte Chemical Engineering Plastic Indonesia. It established the company to build a compounding product plant that produces high-tech materials for automobiles. Lotte Chemical has expanded its business in Southeast Asia, which has been focused on basic materials, to include high-tech materials.
São Paulo / Rome, August 3, 2020 – GranBio, a 100% Brazilian industrial biotechnology company, and NextChem, Maire Tecnimont’s subsidiary for energy transition announced a strategic partnership to achieve global leadership in the licensing of patented GranBio 2G Ethanol technology to produce cellulosic ethanol. Petrochemicals CrudeOil Nylon6 ACN
GranBio’s 2G Ethanol technology converts lignocellulosic, non-food biomass to renewable, low carbon intensity biofuels. NextChem is partnering with GranBio to license this technology worldwide. The alliance combines GranBio’s technology and knowledge in second generation biomass and biofuels with NextChem’s engineering intelligence, EPC capabilities and Group global presence, to offer integrated services, feasibility studies, integration projects, engineering and construction of manufacturing plants around the world.
N9’s special offerings provide antiviral performance against the coronavirus bringing proven hygiene function and material protection to the textile industry
N9 World Technologies, India signed an agreement with Consolidated Pathways Inc., USA to incorporate unique Swiss antiviral and antimicrobial technologies into sustainable, cost-effective custom blends for the textile industry. Petrochemicals CrudeOil Nylon6 ACN
N9’s special offerings provide antiviral performance against the coronavirus bringing proven hygiene function and material protection to the textile industry, says a press release.
Trade fair activity is slowly picking up speed again, reports German company Mahlo, and it will exhibit at CINTE Techtextil China, Trade Fair for Technical Textiles and Nonwovens, will be held in Shanghai from 2-4 September. “It is precisely these sectors that have become extremely important in times of the corona pandemic. However, the requirements for manufacturers have also increased. Production must be safe, high-quality and fast. CINTE offers an ideal platform to present the process and quality control systems of Mahlo GmbH + Co KG,” the company says. Petrochemicals CrudeOil Nylon6 ACN
Frank Fei, Mahlo’s representative for China, and his team will show how manufacturers can make their production more efficient and improve quality. The solution – the Mahlo Qualiscan QMS-12, a quality measuring system which, depending on the type of sensor, can detect important influencing variables such as basis weight, thickness and moisture across the entire fabric width.
Up to five sensors, which traverse on robustly constructed measuring frames, continuously collect data and transmit them to the interfaces.
DS Smith, a leading sustainable packaging company, and Aquapak, an innovative developer of biodegradable polymer, are teaming up to develop the next generation of packaging solutions. By working together, the two organisations can provide sustainable fibre based packaging solutions that will replace hard to recycle packaging made from combined materials such as cardboard and plastic.
After a period of pilot trials with the combined materials, focusing on both performance and recyclability, the partnership will now begin developing practical applications. This includes a range of fibre-based packaging where traditional plastic films can be replaced with Aquapak’s HydropolTM, a biodegradable and water-soluble polymer that will help to improve the recycling process. Petrochemicals CrudeOil Nylon6 ACN
ndia’s commerce and industry ministry recently suggested a provisional anti-dumping duty (ADD) of $15.54- 200.66 per metric tonne (MT) on the import of polyethylene terephthalate (PET resin) from China.
Reliance Industries and IVL Dhunseri Petrochem Industries Pvt Ltd had filed a complaint claiming injury resulting from the alleged dumping. Petrochemicals CrudeOil Nylon6 ACN
“Having initiated and conducted the investigation into dumping, injury and causal link in terms of the provisions laid down under the Anti-Dumping Rules, the authority is of the view that imposition of provisional duty is required to offset dumping and injury, pending completion of the investigation,” the Directorate General of Trade Remedies (DGTR) said in its preliminary findings.
The probe began on October 1 last year.
Petrochemicals CrudeOil Nylon6 ACN