Petrochemical Crude Oil Automotive News 01-11-2019
Petrochemical Crude Oil Automotive
China – Polyethylene Terephthalate
PET and its chain are losing ground.
Crude oil price is in upward trend.
Polyamide 6 and its chain continue to be weak.
Acrylonitrile is steady.
PET Bottle grade export 790/830 $/ton – PET Bottle grade domestic market 6,400/6,550 yuan/ton – PET Filament grade SD domestic market 6,050/6,150 yuan/ton – PET Filament grade BR domestic market 6,150/6,250 yuan/ton
PTA Taiwan 610/620 $/ton – PTA domestic market 4,550/4,650 yuan/ton – MEG 535/550 $/ton – MEG domestic market 4,650/4,750 yuan/ton – PX Korea 765/775 $/ton.
Polyester POY 150D/48F domestic market 6,900/8,000 yuan/ton – Polyester DTY 150D/48F domestic market 8,650/8,750 yuan/ton – Polyester Staple PSF domestic market 6,900/7,000 yuan/ton
Crude Oil Prices Trend
The contract price of ethylene in Europe for November deliveries was agreed at EUR960 per tonne, which is EUR30 per tonne lower than the level of the previous month, ICIS reported. Petrochemical Crude Oil Automotive
The contract price was approved on the terms of FD NWE (with delivery to North-West Europe).
The agreement was directly confirmed by three manufacturers and two consumers, confirmation from the third consumer is expected.
Alpek S.A.B. de C.V. announced that one of its subsidiaries has signed an agreement with Lotte Chemical Corp. to acquire a100% stake in Lotte Chemical U.K. Ltd., which owns and operates a 350,000-ton/year polyethylene terephthalate (PET) facility in Wilton, U.K.
With their acquisition of the plastics recycler mtm plastics, Borealis, a leading chemicals and plastics group, became the first plastics manufacturer to work towards a circular economy.
The group has been consistent in its efforts to drive plastics circularity and is developing regranulates of the highest quality.
The result is sophisticated and innovative products jointly created with partners from the waste management and plastics industries.
Fiat Chrysler will pay its shareholders a 5.5 billion euro ($6.1 billion) special dividend under a proposed tie-up scheme with French rival Peugeot, two sources close to the matter said on Wednesday.
The proposed deal also envisages that Peugeot will spin off its 46% stake in car part Faurecia, worth around 3 billion euros, the sources said.
Unicharm Corp. has developed technology for recycling used disposable diapers.
Last week, the company said it plans to collect the product, disassemble and sterilize it, then extract pulp and other materials to create new paper diapers.
It plans to sell the recycled diapers as early as April 2021.
Due to an aging population, use of the diapers — and the garbage they create — is growing each year. Adult diapers in particular are said to become three to four times heavier after use.
The American Beverage Association and large soft drink makers announced a $100 million joint investment on Oct. 29 to boost PET bottle recycling in the United States and reduce the industry’s use of virgin plastic.
The “Every Bottle Back” initiative will be investing those funds through the Recycling Partnership and Closed Fund Partners and aims to leverage another $300 million in investment to modernize recycling and bottle collection.
The 17th edition of the recently held Maroc in Mode-Maroc Sourcing trade fair hosted more than 140 Moroccan and international exhibitors this year. More than 700 visitors came from Morocco, over 300 from European countries like Spain, France, Portugal, Italy, Germany, UK, and Japan. Visitors were interested in topics of fast fashion and sustainability.
Visitors from 16 countries, such as Spain, France, Portugal, Italy, UK, Germany, and so on, including high-profile companies and vertical top providers, used the show as a platform to expand their production portfolio, intensify existing contacts, and finalise production projects, according to a press release on the show.
Klopman, a European leader in the production of fabrics for workwear, will present over 20 new fabrics across four different categories at the A+A 2019 fair in Düsseldorf next week.
Among some of the most important creations are fabrics from the Greenwear range in recycled polyester/Tencel blend, natural fibre extracted from wood pulp; the range of stretch fabrics that stretches both in the direction of the weft and of the warp; the first high-visibility fabric made with polyester and Tencel, new flame-retardants and fabrics made with prints and embossing techniques that allow new graphic and colour combinations.
Negotiations for the November paraxylene (PX) Asia Contract Price (ACP) have fallen apart again, marking the eighth time the benchmark has failed to settle this year.
China has abolished anti-dumping duties (ADDs) on PVC imports from the US, Japan, South Korea and Taiwan, ending a 16-year anti-dumping policy in the industry.
Chinese polypropylene (PP) prices softened this week because of bearish demand fundamentals and expectations of increased supplies from the Middle East.
China PP raffia prices slipped by $15/t to settle at $970-980/t today. New November offers in China were limited this week.
Malaysia’s state-owned Petronas is continuing to ramp up polymer production at the 300,000 b/d Pengerang refinery in Johor state, ahead of its targeted start-up in November.
The refinery is a joint venture between Petronas and Saudi Arabia’s state-owned Saudi Aramco. It can produce 750,000 t/yr of polyethylene and 900,000 t/yr of polypropylene.
Petrochemical Crude Oil Automotive