Ecofriendly Polymers Petrochemicals LDPE 04-06-2021

Ecofriendly Polymers Petrochemicals LDPE

Crude Oil Prices Trend 

Crude Oil Prices Trend  Polyestertime

-FLOR Celebrates Ten Years of Blending Sustainability and Beautiful Design with Aquafil’s ECONYL® Regenerated Nylon

FLOR®, a high-end area rug brand for homes, offices, and every space in between, today commemorates ten years of area rugs featuring Aquafil’s ECONYL® regenerated nylon that blend beautiful design, smart functionality, and environmental responsibility into all the spaces people live. The premium design brand began using ECONYL® nylon in 2011 and was the first flooring company to begin using recycled nylon in its products. Today, ECONYL® regenerated nylon, a sought-after responsible solution for well-known fashion and interiors brands, is featured in most FLOR area rugs, rather than brand-new nylon that uses new resources.

FLOR Celebrates Ten Years of Blending Sustainability and Beautiful Design with Aquafil’s ECONYL® Regenerated Nylon

FLOR Celebrates Ten Years of Blending Sustainability and Beautiful Design with Aquafil’s ECONYL® Regenerated Nylon

ECONYL® is made from 100% waste – fishing nets, textile scraps, old carpet, etc. – that would otherwise pollute the Earth. The regenerated nylon performs the same as virgin nylon and can be recycled, recreated, and remolded infinitely. Not only a waste solution, ECONYL® reduces the global impact of nylon by up to 90% compared with the material produced from oil.

FLOR Celebrates Ten Years of Blending Sustainability and Beautiful Design with Aquafil's ECONYL® Regenerated Nylon

-Chinese automotive fabric firm orders new Dilo line

DiloGroup has received a repeat order from Zhejiang Huajiang Science and Technology Co., Ltd. for a complete web-forming and needling line to process blends of glass and polypropylene fibre through a fibre preparation system, web-forming, carding and crosslapping and needling units.

The order comes as the automotive sector begins to show signs of a recovery, with investments in nonwoven production lines for the manufacture of glass fibre-reinforced thermobonded structural parts for automotive interiors now being considered by manufacturers. Ecofriendly Polymers Petrochemicals LDPE

The order for a fibre preparation system from DiloTemafa is adapted to the special requirements for processing glass fibre in the most efficient way and to provide homogeneous blends with PP. The component-dependent “Baltromix” blending system using highly precise weighing pans provides accurately dosed fibre material on the collecting apron, which is further opened and blended in a carding willow. This carding willow is used in most of DiloGroup complete line installations as a successful tool for further opening and blending tasks, in many cases together with a smaller chamber for final blending.

-Chinese automotive fabric firm orders new Dilo line

-PE market maintains the downward trend in the short-term

After May Day holiday, China domestic polyethylene market is sluggish, and market price of each products shows a huge decline. LLDPE futures moves lower continuously, and the overall price level basically returns to the level at the beginning of 2021, which greatly suppresses the spot market mindset. Traders have to offer lower, and downstream buying interest weakens. Most of them purchase to cover their rigid demand. Although LLDPE futures rebounds slightly recently, it is still in a volatile trend. Market mindset is bearish, waiting for the market to recover and rebound. Ecofriendly Polymers Petrochemicals LDPE

From the perspective of supply, plants shut for maintenance during the spring turnaround season have restarted gradually. Also, new plants have been put into production successfully, and there are still plants planned to be put into production in June, and the short-term supply is in an incremental trend.

From the perspective of demand, although the current spot price is relatively low in the short-term, downstream buying intention is weak, and the end-users mainly purchase at need-to-basis. The weather is getting hotter, and market players are worried about whether the government will continue to introduce power restriction policies. Some downstream plants are in a state of shutdown, and the operating rate is relatively low. The agricultural mulching film is in the off-season of production and marketing, so demand continues to be weak.

PE market maintains the downward trend in the short-term

-The future of plastic packaging

Plastic packaging is in a kind of dichotomy: On the one hand, it is impossible to imagine our everyday life without it. Think how many times you handle plastics on a daily basis:it’s in our homes and cars, sustaining our cities and protecting our food. For good reason: Scarcely any other type of material is as flexible and usable as plastic, especially for perishable foods and liquids. On the other hand, its reputation is steadily declining. Particularly packaging – many consumers complain about it and associate it with mountains of waste. It has come to represent a society that feels it can simply throw away its problems. Ecofriendly Polymers Petrochemicals LDPE

In many respects, the key advantage of plastic, its ubiquity, has become its undoing.

To overcome this dichotomy the industry must respond. I’m heartened by the way we have woken up and are investing in solving the key issues that we are facing. In my 30-plus years of experience in the plastics industry, I have yet to see such momentum, such a drive for innovation. Plastic packaging is reinventing itself right now.

Ecofriendly Polymers Petrochemicals LDPE

-China moves to curb yuan’s rapid appreciation amid rising inflation

China’s central bank will raise the amount of cash that financial institutions must hold as reserves for their foreign exchange deposits, in a move to curb the rapid appreciation in the yuan (CNY), which makes exports including those of some petrochemicals less attractive.

The People’s Bank of China (PBoC) on 31 May said that it will increase the reserve requirement ratio (RRR) for foreign exchange deposits by 2 percentage points (pp) to 7% from 5%, effective 15 June. Ecofriendly Polymers Petrochemicals LDPE

This was the first time in more than a decade that the PBoC has hiked the RRR.

The yuan between April and May 2021 appreciated by 3.1% against the US dollar, reaching 6.36 on 31 May – a three-year high.

The yuan was at 6.38 against the US dollar on Wednesday 2 June, versus 7.13 exactly a year ago and 6.47 on 2 May.

A stronger yuan makes Chinese exporter’s products less competitive when they are sold in overseas markets.

The stronger yuan has weighed on China’s polypropylene (PP) exports, amid high freight costs and a shortage of containers.

The hike is seen as the PBoC’s first real move to arrest the appreciation of RMB, said Japan’s Nomura Global Markets Research.

Ecofriendly Polymers Petrochemicals LDPE

-LUMMUS ANNOUNCES COOPERATION WITH SYNTHOS FOR DEVELOPMENT OF BIOBUTADIENE TECHNOLOGY

Lummus Technology (Houston) announced that its Green Circle business and Synthos S.A. (Oswiecim, Poland) have started collaborating to commercialize Synthos’ biobutadiene technology. Ecofriendly Polymers Petrochemicals LDPE

The first step of the commercialization program includes the development of a feasibility study for a biobutadiene plant with a production capacity of 20,000 tons per year, which will form the basis for an investment decision.

“Lummus is the leading licensor of butadiene production and extraction technologies, and we are building on our excellent track record in commercializing technologies to make a difference in the energy transition through Green Circle,” said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology.

“We are grateful to support Synthos to meet their goals for their investment in more sustainable bio-rubbers, and will ready this promising technology for commercialization, aligned with our relentless ambitions to decarbonize and circularize our industry through our Green Circle portfolio.”

Ecofriendly Polymers Petrochemicals LDPE

-Spandex price extends higher with strong demand

Spandex market shifted into low capacity expansion cycle in recent 2 years, while demand recovered substantially. In post-pandemic era, hot personal protective equipment like protective clothes and mask used spandex as one of the raw materials. Sales of fabrics for sportswear, yoga clothes and stretch fabric performed well. Exports of textiles and apparels extended strong and demand for spandex was tolerable outside China. Supply of conventional spandex (20D-30D-40D) was short. Price of spandex has surged by around 70% year to date, far higher than other major raw material on textiles market. Ecofriendly Polymers Petrochemicals LDPE

Spandex capacity amounted to 0.85 million tons/year in Chinese mainland by the end of 2019 and increased by 2.6% to 0.872 million tons in 2020, which may rise by 6.9% or 60kt by the end of 2021. The annual growth rate of spandex capacity was only near 4.7% in recent 2 years, not high.

Spandex price extends higher with strong demand

-HOBI International, Retriev partner to recycle EV batteries

The two recyclers recognize the expansion and projected growth of the electric vehicle market.

HOBI International Inc., Batavia, Illinois, and Retriev Technologies Inc., a lithium battery recycling facility based in Lancaster, Ohio, have entered into a collaborative partnership to collect and recycle large-format electric vehicle (EV) batteries throughout North America. Ecofriendly Polymers Petrochemicals LDPE

According to a news release from Retriev, the companies recognized the rapid expansion and projected growth of the EV market.

“The rapid electrification of the U.S. consumer, commercial and industrial business sectors requires rapid response and structuring from experienced members of the recycling industry. HOBI, with nearly 30 years of ongoing related experience, is dedicated to be part of the solution managing these devices and products at the end of their first or second life,” says Craig Boswell, president of HOBI.

The goal of the relationship will be to ensure that the lithium batteries used in EVs are collected and responsibly recycled in a manner that creates value within the battery industry’s circular economy.

Ecofriendly Polymers Petrochemicals LDPE

-PolyQuest expands SC recycling plant

PET recycler PolyQuest Inc. is expanding its Darlington, S.C., facility, driven by stronger demand for recycled content plastic and supply shortages requiring the company to keep more materials on hand.

The new expansion will add two rail spurs, new recycling and material handling equipment and 225,000 square feet of manufacturing and warehouse space, giving it total of 525,000 square feet in Darlington, the Wilmington, N.C.-based company said in a June 1 news release. Ecofriendly Polymers Petrochemicals LDPE

President Tod Durst said the company is seeing “exponential” growth from its virgin and recycled PET product lines as well as for polyethylene and polypropylene.

In addition to its recycling operations, the company said it’s the largest distributor of PET resin in the U.S. and Canada.

“With demand for our products at the highest level we have experienced in our company’s history and limited available supply, our customers are facing extended lead times which predicates that we hold higher levels of safety stock to service their needs,” Durst said. “That factor, coupled with the continued push for recycled plastic content from brand owners and converters alike, made our expansion in Darlington a logical one.”

Ecofriendly Polymers Petrochemicals LDPE

-OPEC to boost oil output as economies recover, prices rise

The OPEC oil cartel and allied producing countries plan to restore 2.1 million barrels per day of crude production, balancing fears that COVID-19 outbreaks in some countries will sap demand against surging energy needs in recovering economies.

Energy ministers made the decision during an online meeting Tuesday.

Saudi Energy Minister Prince Abdulaziz bin Salman said recent market developments proved the agreement to gradually increase production, made in April and reconfirmed Tuesday, was “the right decision.” There are still “clouds on the horizon” regarding the recovery and demand for energy, he said.

The cartel decided to stay the course decided at earlier meetings to raise production by 2.1 million barrels per day from May to July. The group plans to add back 350,000 barrels per day in June and 440,000 barrels per day in July. Saudi Arabia is also gradually adding back 1 million barrels in voluntary cuts it made above and beyond its group commitment. Ecofriendly Polymers Petrochemicals LDPE

OPEC to boost oil output as economies recover, prices rise

Ecofriendly Polymers Petrochemicals LDPE

Ecofriendly Plastics Petrochemicals LDPEFilm 03-06-2021