Petrochemical Crude Oil Sanctions 28-12-2019

Petrochemical Crude Oil Sanctions

-OUTLOOK ’20: Asia MEG faces a difficult year as mega projects come on line

Asia’s monoethylene glycol (MEG) market will face a difficult year in 2020 due to peak start-ups of several new mega units while China’s import volumes would fall because of rising local supply.

Rising new capacities with no corresponding strong increase in demand will lead to falling operating rates at plants.

A total of 3.3m tonnes/year of confirmed new MEG capacities in Asia are expected to start up from end-2019 to 2020, which will weigh on a market already plagued by poor margins.

Petrochemical Crude Oil Sanctions

-Lenzing Group Enters Joint Venture for Brazilian Pulp Plant

The dissolving wood pulp facility will produce fiber used for textile production

The Lenzing Group and Duratex are undertaking a joint venture to build a dissolving wood pulp plant in Brazil that will strengthen Lenzing’s production of biobased fibers.

The plant, which will be based in Minas Gerais, near Sao Paulo, Brazil, is expected to start up in the first half of 2022. Petrochemical Crude Oil Sanctions

Lenzing holds the majority ownership at 51 percent, while Duratex, the largest producer of industrial wood panels in the southern hemisphere, has a 49 percent stake.

Petrochemical Crude Oil Sanctions

-Sinopec & LyondellBasell to Form 2nd Chemicals’ JV in China

China Petroleum & Chemical Corporation or Sinopec SNP recently signed a memorandum of understanding with LyondellBasell Industries N.V. LYB to create a new 50-50 joint venture (JV) for developing a new propylene oxide and styrene monomer unit. This is a second such joint venture between the two companies.

The new unit will likely have an annual production capacity of 300 kilo tons of propylene oxide and 600 kilo tons of styrene monomer.

The JV is expected to start the new facility’s construction early next year, which will bring the unit online by 2022. Petrochemical Crude Oil Sanctions

Petrochemical Crude Oil Sanctions

-A Bioplastic Made From Fish Waste

Although fish leather is part of an ancient tradition, especially in East Asia, it has only recently been rediscovered. The advantage of this material is that its mechanical properties are almost identical to those of conventional leather, but the production process can make use of waste from the food industry.

Lucy Hughes, a student at the University of Sussex has recognized fish waste as a sustainable material source, and has invented a process for turning it into an alternative source of plastic, hoping to solve the problem of both single-use plastics and waste streams.Petrochemical Crude Oil Sanctions

Petrochemical Crude Oil Sanctions

-Spandex market lacks momentum to rise

In the first half of 2019, spandex price continuously moved down, and the decline of spandex slightly slowed down in the second half of this year. 40D price gradually decreased to near the historical low of the third quarter of 2016.

In early December, under the losses pressure, partial spandex prices were adjusted up by 1,000yuan/mt.Petrochemical Crude Oil Sanctions

However, affected by various factors such as inventory reduction and payment collection at the end of the year, spandex market was in the sentiment of stable sales on the whole, while several resources were priced higher by 300-500yuan/mt.

Petrochemical Crude Oil Sanctions

-Advantages of liquid hydrogen as a fuel cell fuel

1. In the production of liquid hydrogen, residual CO, CO2 and H2O (moisture) are removed as solid impurities after the PSA.

In the commonly used compressed hydrogen method, however, the residual CO in the hydrogen causes the catalyst on the electrode to be poisoned, which shortens the life of the fuel cell stack.Petrochemical Crude Oil Sanctions

After liquid hydration, the hydrogen entering the stack is cleaner.

Petrochemical Crude Oil Sanctions

-OUTLOOK ’20: Europe fatty acids, fatty alcohols demand diverges on end-market performance

The European fatty acids and fatty alcohols markets face diverging outlooks for 2020.

While fatty acids demand from the automotive industry is expected to remain limited, buying interest for fatty alcohols is set to be stable amid healthy production of surfactants anticipated for 2020.

FATTY ACIDS

Demand from the automotive industry for European fatty acids has slipped throughout 2019, with players expecting buying interest to remain low in 2020.

Fatty acids are a component in polyurethane production, which is then used in car manufacturing.Petrochemical Crude Oil Sanctions

-OUTLOOK ’20: Europe fatty acids, fatty alcohols demand diverges on end-market performance

-January paraxylene ACP fails to settle

Negotiations for the January paraxylene (PX) Asia Contract Price (ACP) have fallen apart because of a wide bid-offer gap.

Japan’s JXTG Nippon Oil & Energy placed its offer at $930/t cfr, while all other sellers offered at $920/t cfr. All the sellers declined to change their offers from initial levels.

January paraxylene ACP fails to settle

-Lenzing number one for sustainable wood procurement

In the Hot Button Report issued by the Canadian non-profit organization Canopy, the Lenzing Group has once again been rated number one in the world, confirming its role as the sustainability trailblazer in the textile industry.

In this widely recognized ranking, Canopy grades the world’s 32 largest producers of wood-based fibers with respect to their success in achieving sustainable wood and pulp sourcing. Petrochemical Crude Oil Sanctions

Wood and the pulp derived from it are the most important raw materials underlying Lenzing’s sustainable production of cellulosic fibres.

Lenzing number one for sustainable wood procurement

Petrochemical Crude Oil Sanctions

Petrochemical Oil Sanctions Polyester 27-12-2019

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