Petrochemical LDPE GreenHydrogen 21-01-2021
Petrochemical LDPE GreenHydrogen
Crude Oil Prices Trend
Sabic Innovative Plastics plans to raise prices for acrylonitrile butadiene styrene (ABS) in North America by 7 cents per pound (USD154 per tonne) effective Feb 1, according to the company’s letter to customers.
The letter says that the increase will relate to the CYCOLAC ABS brand for the production of extruded profiles and sheets, pipes and pipe fittings, as well as for the production of compounds.
Sabic has been pushing for a 9 cents / lb (USD198 / t) increase in ABS value since January 11, citing supply and demand dynamics. The company has sought to increase the value of ABS by 7 cents per pound since December 1.
ABS supplies to the United States have recently been limited due to a shortage of imports, high demand, and long lead times.
Chroma Color Corporation experienced an increased demand for enhanced masterbatch and functional additives during 2020, and we anticipate this “specialized” trend to continue in 2021. Chroma Color expects plastic processors to expand their focus on Color Solutions for Post-Consumer Recycled (PCR) resins, increased usage of Antimicrobial Additives, and an emphasis on Healthcare Compliant Color Concentrates for Medical Products.
Colors for post-consumer recycled (PCR) resins
Corporate Sustainability goals along with pressure from Consumer and Environmental groups are driving increased demand for higher content of Post-Consumer Recycled (PCR) resins, especially within commercial packaging applications. With this increased PCR feedstock demand, the quality of the available raw material adds a new challenge. This is particularly evident in the two resins leading this growth trend; PP and PET. Processors often face difficulty in achieving the desired aesthetics and color consistency due to the inherent range of chalky-grey shades or yellow undertones associated with commercial PCR resins. Each resin family will require unique color or additive formulation adjustments to ensure the development of an acceptable finished package on shelf.
LyondellBasell will raise polyethylene (PE) prices in North America by 7 cents / lb (USD154 / t) amid rising ethylene feedstock, according to the company’s letter to customers.
The price increase will take effect on February 1, in addition to any previously announced price changes. The letter also said the company is confirming a previously announced 6 cents / pound increase in January.
Polyethylene demand in the United States has been strong throughout the pandemic due to increased consumption of polyethylene for the production of fast-use consumer goods such as food packaging.
On the supply side, availability has been limited in recent months due to some production issues at polyethylene plants in the US and Mexico.
MEG cargo discharges were smooth in the week ended January 15, and the port inventory figure recovered modestly to around 780kt Monday January 18, 2021. However, only around 100kt MEG cargoes are scheduled to arrive in Jan 18-24, and next Monday’s inventory figure would drop sharply. Port inventory is hard to recover clearly before the Chinese New Year according to the shipping schedule.
Meanwhile, China-Europe arbitrage window remained open. By last Friday January 15, MEG price was 785 euro/mt FD NWE and $823/mt CIF NWE. Exports from China to Europe would be around 60-70kt in January-February.
Operating rate of downstream looms in Jiangsu and Zhejiang dropped sharply to around 63% on January 15, and is expected to fell to around 20-30% by end January. However, polyester product inventories were still low, and cash flows were good. January average polyester polymerization rate is estimated at around 89%. The apparent decrease would be in February, and February average polymerization rate is estimated at about 83%.
Euratex unveils ReHubs initiative to upcycle textile waste
Euratex, the European Apparel and Textile Confederation, in November proposed the development and setting up of European Textile Recycling Hubs (ReHubs). The Hubs’ capacity to treat large volumes will create economies of scale, justifying the costs of existing recycling technologies as well as investments into new ones, such as chemical and thermal/melt recycling. This will generate new raw materials for the textile value chains, which is mostly made of SMEs (fibre-to-fibre closed loop), and for symbiosis with other European industries (like automotive or other industries). Five member states have emerged as the ideal candidate hosts: Belgium, Finland, Germany, Italy and Spain.
£22.5-million UK funding to recycle industry waste
The United Kingdom will provide £22.5 million to five research centres in London, Loughborough and Exeter to help industries tackle waste, boost recycling and build back greener from the coronavirus pandemic. The centres will explore how the reuse of waste materials in the textile and other industries can protect the environment and boost the economy.
Amcor has become the first global diversified packaging company to report to the Sustainability Accounting Standards Board (SASB) packaging standard.
Amcor – a global packaging leader – has for the first time reported against SASB’s standards, setting a new benchmark for the packaging industry by becoming the first global diversified packaging company to do so.
SASB standards are recognized as best-in-class, enabling businesses around the world to offer greater transparency and improve risk management.
This view is shared by the investor community, which has embraced the SASB standard as a means to allow informed decision making on sustainable investing. By reporting against SASB’s Containers & Packaging standard, Amcor is leading the industry with regard to benchmarking and transparency to drive more sustainable performance.
Price of polyester filament yarn kept rising for 2 months since late-Nov, 2020. Taking POY150D/48F as an example, price of it has increased by 1,300yuan/mt or 26% from 5,000yuan/mt to 6,300yuan/mt since late-Nov.
In the first month of increase, PFY price was mainly driven by downstream orders and ascending cost. Downstream buyers were active in chasing up and replenishing. In the second month, downstream buyers were forced to restock for speculation with mounting feedstock cost but modest new orders. Price increase of PFY lacked strong momentum. Only new orders for fabric for home textiles were tolerable.
Actually, stocks of PFY were low now but price of PFY lacked upside stimulus. Recent increase was mainly driven by rising feedstock as downstream procurement has apparently weakened. Sales of PFY have been lackluster for a period and price of PFY showed signals to head south. Actual trading price of Lianda and Tongkun was discounted by 100yuan/mt and other plants may successively cut price for promotion in later period. Price of PFY is expected to inch down in short run.
Tomato specialist RedStar has succeeded in further reducing the amount of plastic packaging in the retail sector. By expanding a special production line, even more tomatoes can now be packed in thin plastic trays instead of thicker buckets. As a result, 40% less plastic is used.
For the plastic trays with top seal film, the company uses 100% recycled plastic, which can also be fully recycled after use.
‘Every day, we pack about 150 tons of tasty tomatoes for our customers’, says Henri Lambriex, the CEO of one of the largest tomato specialists in our country. ‘In the supermarket, the customer increasingly makes a conscious choice for environmentally-friendly packaging. We can help them with this with our tomatoes in the shopping trolley. Additionally, our tomatoes are more visible thanks to the plastic film. This works to our advantage because we grow tasty tomatoes. You can see and taste that difference.’
OPEC’s secretary general said on Tuesday he was cautiously optimistic the oil market would recover this year from the slump in demand brought about by the coronavirus pandemic.
Monthly meetings of the Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia – a grouping known as OPEC+ – are there to stop an imbalance from re-emerging, OPEC’s Mohammad Barkindo told a virtual forum.
“We all agree that the recovery is fragile, there are still more uncertainties, but we are cautiously optimistic that the recovery will materialise this year,” he said.
Oil prices have rallied to an 11-month high this month, helped by a Jan. 5 decision by most members of OPEC+ to hold production steady in February and a pledge by Saudi Arabia to voluntarily cut output.
Thermoformer Faerch is introducing a circular mono-PET pot range for the dairy market that can withstand high-temperature sterilisation.
The Eco HotPro product family can survive hot-filling at up to 120 deg C, while the ability to use up to 75 per cent recycled or post-consumer content makes the CPET packs a “circular solution”, according to the Danish firm. After use, they can be recycled to new food grade products.
Explains Faerch, legacy material PP, which has so far been widely used for high-temperature sterilisation in dairy applications, is by no means circular. Like PS, for food safety reasons, PP products need to be made from 100 per cent virgin material. Moreover, they can only be downcycled to non-food applications, contradicting the basic principles of a circular economy.
Petrochemical LDPE GreenHydrogen