Chemicals Circular Economy PETBottle 03-03-2020

Chemicals Circular Economy PETBottle

Crude Oil Prices Trend

Crude Oil Prices Trend

-Automotive sector decline in 2020 as pronounced as 2019, chems weak – BASF CEO

The decline in automobile production is likely to be as pronounced this year as in 2019, the CEO at BASF said on Friday, while no immediate rebound is expected for the Germany-headquartered chemicals major’s chemicals operations.

Global automobile production contracted 5.4% year on year in 2019, and the slump is expected to continue or deepen this year, Brudermueller said, as a result of lower demand, extended production downtime in China, and disruption to the sector’s complex global supply chains.

“For the automotive industry, one of our most important customer industries, we anticipate a production decline compared to the already-low level of 2019,” he said, speaking to reporters at the company’s Ludwigshafen headquarters.

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-China GDP could slow to 4.5% in 2020 as coronavirus, trade war bite – BASF

China’s GDP growth could fall to 4.5% in 2020 as the impact of the coronavirus continues and no immediate easing of the country’s trade conflict with the US is expected, the CEO at Germany’s chemicals major BASF said on Friday. Chemicals Circular Economy PETBottle

The impact of the coronavirus outbreak in China is expected to continue through the first half of the year, disrupting supply chains, customer demand, and access to raw materials.

This, along with the global economic slowdown and the ongoing US-China trade war, is likely to push down China GDP growth by 1.6 percentage points from 2019, which until this point was the weakest growth rate the country had seen in nearly three decades

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-Nova Chemicals delays 5 cents/lb PE price increase until March

Nova Chemicals Corp. is delaying a previously announced price increase of 5 cents/lb for its US polyethylene prices, the company said in a letter to customers obtained Friday by S&P Global Platts.

The increase was meant to begin February 1 but is now delayed to implementation on March 1.

The company was not available for a comment Friday.

The price increase is an addition to a previously implemented increase of 4 cents/lb for all polyethylene resins, which began in January 2020.Chemicals Circular Economy PETBottle

Platts last assessed US LDPE at $937-$959/mt FAS Houston, US linear LDPE at $761-$783/mt FAS Houston and US high density PE blowmolding at $772-$794/mt FAS Houston.

Nova Chemicals delays 5 cents/lb PE price increase until March

-MMF sector expected to attract more investments

The removal of anti-dumping duty on PTA (Purified Terephthalic Acid) in the Union Budget is expected to bring in investments in the Manmade Fibre (MMF) sector and benefit the entire value chain.

Madhu Sudhan Bhageria, Chairman and Managing Director of Filatex India, told The Hindu that so far availability of raw material was expensive. It will be lower now. And this will lead to higher availability of PTA too. The entire MMF value chain will benefit. Indian weavers will be able to compete with imported fabric. Chemicals Circular Economy PETBottle

The yarn producers were not planning expansion because of uncertainty on fibre availability.Chemicals Circular Economy PETBottle

Nova Chemicals delays 5 cents/lb PE price increase until March

-Biofuel From Microorganisms

The biofuel sector could soon get a boost, as the researchers at the International Centre for Genetic Engineering and Biotechnology (ICGEB) are developing a method to improve the growth rate and sugar content of a marine microorganism called Synechococcus sp. PCC 7002.

Most biotechnological processes, including biofuel production, are dependent on the availability of low-cost and sustainable supply of sugars and a nitrogen source. The sugars typically come from plants. Plants utilize light energy through the process of photosynthesis to convert carbon dioxide in the atmosphere into biological components such as sugars, proteins and lipids.Chemicals Circular Economy PETBottle

Biofuel From Microorganisms

-Danone aims for 100 per cent rPET in European water bottles

French group Danone wants to expand the use of recycled PET and reduce single-use plastics.Chemicals Circular Economy PETBottle

In Europe, all PET water bottles are to be made of 100 percent recyclate by 2025, the company announced at the release of its annual results.

In addition, Danone intends to explore alternatives, such as glass, cans, and paper-based packaging, as well as new business models for the provision of water.

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-View: A $30 oil is the real virus threat to Opec

US West Texas Intermediate crude is now firmly below $50 a barrel and global benchmark Brent briefly followed it on Friday.

It’s finally upon us. The week when ministers from the oil producing countries of OPEC and their allies meet to decide on the future of their latest round of output cuts.

Having failed to persuade Russia to bring the meeting forward, Saudi Arabia will now hope to convince its biggest non-OPEC ally of the need to make deeper cuts in the face of a demand slump triggered by the Covid-19 virus. Success is not a foregone conclusion and failure will be costly.Chemicals Circular Economy PETBottle

View: A $30 oil is the real virus threat to Opec

-Flat to Higher Pricing for Polyolefins, PS, PVC and PET

The trajectory for resin pricing going into the second quarter is unsettled by a virus outbreak.

In mid-first-quarter 2020, prices of polyethylene, polystyrene and PVC were up, while polypropylene and PET had potential to move up a bit as well. In most cases, prices had bottomed out and were more on par with global prices.

Domestic demand going into second quarter was not fully clear, though there was cause for optimism, despite significant uncertainties.Chemicals Circular Economy PETBottle

To what extent would domestic resin pricing be affected by the coronavirus outbreak in China, a major importer of U.S.-made PE and PVC.

Flat to Higher Pricing for Polyolefins, PS, PVC and PET

-March paraxylene ACP fails to settle

Negotiations for the March paraxylene (PX) Asia Contract Price (ACP) have failed to settle for a third straight month because of a wide bid-offer gap amid a volatile market.

South Korea’s SK Global Chemical has lowered its offer to $770/t from its initial offer of $840/t while other sellers kept their offers unchanged from initial prices.

March paraxylene ACP fails to settle

-Amaplast members working at full capacity, despite Coronavirus

In consideration of the measures adopted by the Italian Government with regard to the spread of coronavirus, Amaplast – Italian Plastics and Rubber Processing Machinery and Moulds Manufacturers’ Association has emphasised that its member companies have implemented all the actions required by legislation to protect the health and safety of employees.Chemicals Circular Economy PETBottle

Amaplast members working at full capacity, despite Coronavirus

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Chemicals Circular Economy Polyamide 02-03-2020

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