Petrochemical PET Polyolefin HDPE News 04-12-2019
Petrochemical PET Polyolefin HDPE
-Crude Oil Prices Trend
The Gulf Cooperation Council’s (GCC) chemicals industry will continue attract new investments as the region explores more higher-value downstream opportunities amid continued volatility in oil prices and as benefits from cheap feedstocks ease.
GCC chemical investments in the first 10 months of 2019 have exceeded $140bn, done through joint ventures and increased number of merger and acquisition (M&A) deals, according to estimates from the Gulf Petrochemicals and Chemicals Association (GPCA).
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Chinese petrochemicals firm China Luxi Chemical has achieved on-specification production at its new olefins plant in Liaocheng, Shandong province.
Methanol feed-in took place on 29 November and on-specification ethylene and propylene was reached on 30 November. The plant, which can produce up to 120,000 t/yr of ethylene and 180,000 t/yr of propylene at capacity, is part of Luxi’s coal-to-olefins (CTO) complex.
Luxi’s upstream 800,000 t/yr coal-based methanol unit was brought on line at the end of 2018.
JXTG Nippon Oil & Energy (part of Nippon Oil Corporation), a major producer of petrochemicals in Japan, set the December contract price of benzene in Asia at USD665 per tonne, which is USD20 per tonne higher than with a November contract price, a source at the company told ICIS .
The price has been approved on delivery terms CFR Asia.
The November contract price for the company’s material was set at USD645 per tonne, which is USD85 per tonne lower than the October contract price of the current year.
Ecopet, the largest producer of polyethylene terephthalate (PET) in Russia and Eastern Europe, last week reduced the cost of spot volumes of PET granulate by 2,000 rubles. per ton, says the ICIS-MRC Price Review.
The general range of producer prices fell to the level of 80,000-83,000 rubles. per tonne, CPT Moscow, including VAT. E
The interest of buyers on the spot in the last decade of November has grown.
One of the processors received an offer to purchase PET from a warehouse in Tuchkovo in December at a price of 80,000 rubles.per ton, including VAT.
Sasol North America, a subsidiary of Sasol, plans to raise prices of all types of polyethylene (PE) by 5 cents per pound (USD110 per tonne) from January 1, 2020 or in accordance with the terms of the contract, the company’s letter said. sent to customers on Monday.
The letter stated that the announcement of a new increase replaces all previously announced price increases.
Earlier it was reported that Sasol North America, a subsidiary of Sasol, plans to commission its new high-density polyethylene (LDPE) plant in Lake Charles (Lake Charles, Louisiana, USA) by the end of this year.
Polyethylene (PE) plants in Europe posted a drop in contract and spot margins last week following an uplift in the previous week, ICIS margin analysis showed.
Liquefied petroleum gas (LPG), in particular, saw a spike in pricing. In addition, for high density polyethylene (HDPE) and linear low density polyethylene (LLDPE) grades, falls in pricing also weighed on spot margins.
Production of technical textiles including innovative textiles products has more than doubled in Russia over the past seven years, and continues to grow, according to recent statements from Andrei Razbrodin, head of the Russian Association of Textile and Light Industry Producers (Soyzlegprom), a public association, which unites leading Russian textiles and technical textiles enterprises.
Razbrodin told Innovation in Textiles that this year the growth of production will not be less than +10%, and comparable to the figures of the previous four years. This is mainly due to the ever-growing domestic demand for technical textiles and innovative textile products and their consumption in the local market.
he 3rd edition of International Textile Machinery & Accessories (ITMACH) India will be held from December 5-8 in Gujarat. Once again it will show latest textile technologies & machinery to Indian textile industry. This edition is even more significant as it will be among the largest textile machinery shows being organised in India close on heels of ITMA 2019.
Therefore, the show will have most modern technologies on display that were launched in the recently concluded ITMA in Barcelona. Indian textile industry would now have the opportunity to experience world class textile manufacturing technology under one roof. For example, world’s leading weaving machinery and technology supplier Picanol will be showcasing Airjet Omniplus- i loom with Smartshed which will be displayed working on denim fabric with warp beam from Arvind Mills and operate at production speed above 1000 rpm!
Petrochemical PET Polyolefin HDPE