Biodegradable plastic petrochemicals recycling 07-11-2018
-China – Polyethylene Terephthalate PET and its chain are always very weak.
PET Bottle grade export 1,110/1,150 $/ton – PET Bottle grade domestic market 8,750/8,850 yuan/ton – PET Filament grade SD domestic market 8,500/8,600 yuan/ton – PET Filament grade BR domestic market 8,500/8,600 yuan/ton
PTA Taiwan 890/900 $/ton – PTA domestic market 6,750/6,850 yuan/ton – MEG $ 745/760 $/ton – MEG domestic market 6,450/6,600 yuan/ton – PX Korea 1,160/1,170 $/ton
POY 150D/48F domestic market 9,200/9,300 yuan/ton – DTY 150D/48F domestic market 11,150/11,250 yuan/ton – PSF domestic market 9,500/9,650 yuan/ton
-Crude Oil Prices Trend
Chemicals company Braskem announces it has joined European network Bio-based Industries Consortium (BIC) as a full member.
BIC represents the private sector in the Bio-based Industries Joint Undertaking (BBI JU), a public-private partnership (PPP) with the EU worth €3.7 billion.
By joining BIC, Braskem has become part of a wider network committed to bringing bio-based products to market.
Established as a pillar of the European Commission Bioeconomy Strategy, BBI JU operates under EU research and innovation programme Horizon 2020.
Bellwether petrochemical group says trade war saps market confidence
Formosa Plastics Group, Taiwan’s biggest industrial conglomerate and an international provider of petrochemical, plastics and electronic materials, signaled tepid holiday season demand on Monday, citing the escalating U.S.-China trade war and global economic slowdown.
The group’s four crown jewels and publicly traded companies — Formosa Plastics, Nanya Plastics, Formosa Petrochemical and Formosa Chemicals and Fibre — have long served as a gauge of demand for industrial and consumer products. Their products are used in industries covering construction, transportation, textiles, footwear, food, daily necessities and consumer electronics.
But executives from each of the four forecast a revenue decline for their company in the October-December quarter compared with the July-September period.
With the announcement of the latest Circular Economy Package, an even greater onus has been placed on industry to demonstrate a commitment to sustainable business.
Lorcan Mekitarian, RPC bpi recycled products sales director, explains how, for cleaning firms looking to expand their environmental behaviour, procurement is the best place to start.
To the untrained eye, contract cleaning is all about keeping the client’s work environment free from litter, germs and visible dirt.
Throw in a paper recycling bin for good measure and many will think they are doing their best for the environment.
China’s domestic chemical markets may stay soft this week after a heavy slump despite restrictions in production and logistics during a major import expo in Shanghai.
The price downtrend since October might not be reversed given volatile global political and economic environment, the stronger US dollar and falling crude oil values.
Among actively traded petrochemicals, monoethylene glycol (MEG) and styrene monomer (SM) had plumbed to new lows last week and their prices are expected to continue falling.
The drumbeat towards peak oil demand is accelerating, but since much of the acceleration is happening outside of the United States, its cadence is muted.
To be clear, the developed world passed peak oil demand a decade ago and has for years been forecast to continue reducing its demand.
Increasing demand in industrializing countries, particularly China and India, each with a population tantamount to that of the OECD, slightly overpowers declines in the developed world, and as a result, global demand continues to increase.
In its 2015 World Energy Outlook, the IEA forecast 1.5% y/y increase outside the OECD, -1.2% y/y in the OECD, and an overall growth of 0.5%. Global peak demand will likely occur while developing world demand is still growing.
Increased decline in the first world could crest demand, but merely slowing the growth in the rest of the world is the more likely to tip the global balance to plateau then decline.
The Indonesian Anti-Dumping Committee (KADI) has recently issued its essential facts in the sunset review of the anti-dumping taxes levied on Biaxially Oriented Polypropylene (BOPP) film imports from Thailand and Vietnam.
According to the Ministry of Industry and Trade, the essential facts include important information which provides a basis for KADI to give its final conclusion of the case.
MergerTaghleef Industries (Ti; Dubai, UAE) is set to acquire Biofilm, one of Latin America’s leading producers of BOPP films for flexible packaging, labels and industrial applications. The transaction, first announced August 21, was approved by the Board of Directors of all parties and is subject to regulatory approval. It is expected to close during the fourth quarter of 2018.
With this acquisition, Ti secures its position as a leading supplier of BOPP films in Latin America and throughout the world, increasing annual production capacity to more than 500,000 tons. The facilities in Cartagena, Colombia, and Altimira, Mexico, will join existing manufacturing sites in the United States, Canada, Italy, Hungary, Spain, Egypt, U.A.E., Oman and Australia.
The United States will not be able to stop Iran’s oil exports, Iranian President Hassan Rouhani said on Monday.
Iran will continue to sell its crude oil in the international market despite “cruel” U.S. new sanctions, Rouhani said.
Iran will break the sanctions imposed by Washington on Tehran in the “appropriate” way, Rouhani said shortly after a fresh round of anti-Iran sanctions by the United States took effect on Monday.
Oil major Saudi Aramco and the kingdom’s petrochemicals giant Saudi Basic Industries Corporation (SABIC) are ready to invest into building a processing plant in Russia, according to Saudi Energy Minister Khalid al-Falih.
The minister said that the Saudi partners are hoping to cooperate with Sibur, Russia’s largest petrochemicals firm.
“I hope our cooperation with Sibur will allow Saudi Aramco and SABIC to invest into building of a petrochemical plant in Russia,” al-Falih told Rossiya 24, Russia’s 24-hour news channel.
The minister also said that Saudi Arabia is currently discussing the opportunity of building a synthetic rubber plant in the Saudi city of Jubail with French energy major Total, China’s Sinopec, and Russia’s Sibur.
Tronox has found a potential buyer for Cristal’s pigment site in Ashtabula, Ohio, a deal that could allow Tronox to placate US regulators and proceed with the acquisition of Cristal, the CEO of the US-based titanium dioxide (TiO2) producer said on Tuesday.
The potential buyer is a well-capitalised, global chemical company that is not currently in the TiO2 industry, said Jeffry Quinn, Tronox’s CEO.
Quinn did not identify the potential buyer.
He made his comments during an earnings conference call.
The three companies are in ongoing talks with the US Federal Trade Commission (FTC), and these could conclude in the coming days, Quinn said.
“While the FTC must complete its work and internal processes, we are optimistic that the FTC will come to the conclusion that the proposed remedial transaction addresses their concerns about the Cristal transaction,” Quinn said.
Tronox expects that the FTC will find that the proposed buyer is well qualified and capable of being a strong competitor in the North American TiO2 market.
Oil prices tumbled more than 2 percent on Tuesday, briefly entering a bear market.
The Trump administration on Monday reinstated sanctions on Iran’s energy, banking and shipping industries.
However, Washington granted temporary waivers to eight countries, including China and India, the biggest purchasers of Iran’s oil.
Oil prices fell on Tuesday, briefly entering a bear market, after the United States took measures to allow some of Iran’s biggest customers to continue importing its oil without violating U.S. sanctions against the Islamic Republic.
Recent legislative decisions in the EU are pushing recycled polyethylene terephthalate (R-PET) in the right direction, but not all European market participants consider them a bold-enough step.
– European Parliament moves towards higher recycling rate targets
– UK government announces plans to introduce plastics tax
– R-PET market says further action necessary
On 24 October, the European Parliament approved draft plans that would result in plastic bottles being collected separately and recycled at a rate of 90% by 2025.
On 29 October, the UK government announced that it would introduce a tax on produced or imported plastic packaging that does not include at least 30% of recycled content.
The UK’s decision would lead to an increase in demand for R-PET, while the European Parliament’s approval could result in more upstream post-consumer polyethylene terephthalate (PET) bottles in the market.