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/tonMEG  535/550 $/ton – MEG domestic market 4,650/4,750 yuan/tonPX Korea 765/775 $/ton.

Polyester POY 150D/48F  domestic market 6,900/8,000  yuan/tonPolyester DTY 150D/48F  domestic market 8,650/8,750  yuan/tonPolyester Staple PSF domestic market 6,900/7,000 yuan/ton

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Crude Oil Prices Trend

Crude Oil Prices Trend

-November contract price of ethylene in Europe fell by EUR30 per ton

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.

ethylene Europe November

-ALPEK TO ACQUIRE LOTTE PET PLANT IN THE U.K.

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.

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-Borealis Is Committed to Upcycling and Counts on Cooperations and Lindner`s Technology

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.

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-FCA to pay 5.5 bln euro dividend, PSA to spin off Faurecia stake in proposed tie-up plan-sources

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.

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-Company develops technology for recycling diapers

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.

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-ABA, beverage makers launch $100M PET recycling fund

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.

ABA, beverage makers launch $100M PET recycling fund

-Maroc in Mode trade fair hosts more than 140 exhibitors

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.

Maroc in Mode trade fair hosts more than 140 exhibitors

-Klopman presents more than 20 new fabrics

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.

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-November PX ACP fails to settle

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.

November PX ACP fails to settle

-China cancels PVC anti-dumping duties

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.

China cancels PVC anti-dumping duties

-China’s PP prices slip on bearish demand

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.

China's PP prices slip on bearish demand

-Petronas continues to ramp up polymer production

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.

Petronas continues to ramp up polymer production

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Petrochemical Crude Oil Polyamide66 News 31-10-2019

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