Petrochemical PET Smart Fabric News 26-11-2019
Petrochemical PET Smart Fabric
-Europe – Price Trend (US $) of PX, FOB (European Northern Port)
BASF has begun construction of an integrated petrochemical project Verbund worth USD10 billion in the southern Chinese city of Zhanjiang, Guangdong province, the company said.
This project will be the first chemical complex in China, which is wholly owned by foreign owners. The company says that technical polymers and thermoplastic polyurethanes (TPU), as well as some petrochemical products, will be produced in turn.
The first phase of the project is expected to begin in 2022 with a production capacity of 60 thousand tons per year, as a result of which BASF’s total production capacity for technical plastics and TPU in the Asia-Pacific region will reach 290 thousand tons per year.
Crude Oil Prices Trend
On the back of the recent breakthrough launch of a 90 per cent food grade recycled ‘Squeezy’ Sauce Bottle, Sydney-based manufacturer of rigid plastics packaging, Wellman Packaging, has stepped up again to announce that it is 100 per cent rPET ready.
After 18 months of extensive development, trials, and testing both in Australia and internationally, Wellman Packaging is now able to produce all its PET preforms and, in the near future, PET bottles with 100 per cent food grade recycled PET (rPET).
An industry-academia collaboration that is in Spain has been able to make drinking straws, which are based on bioplastic produced by the bacteria which are expected to hit the market in next few days.
This collaboration does include companies such as Ocenic Resins and academic institutions such as Jaume I University as well as Institute of Agrochemistry and Food technology, which are all based in Spain. Petrochemical PET Smart Fabric
Straws are usually made from plastic, which is known as polyhydroxyalkanoates (PHA), that is produced by a bacteria that includes Bacillus Megaterium when they get to be stressed.
World stocks rose Friday as upbeat comments by Chinese President Xi Jinping helped quell anxiety over the state of trade talks with the U.S.
Britain’s FTSE 100 rose 1% to 7,311, while the CAC 40 in France gained 0.3% to 5,897. Germany’s DAX picked up 0.1% to 13,146.
Wall Street looked set for gains, with the future contracts for the Dow Jones Industrial Average and the S&P 500 both up nearly 0.2%.Petrochemical PET Smart Fabric
THE US shale revolution has been a game-changer. Not only has it altered the global energy dynamics, but it has also impacted the associated geopolitics in a big, big way. In the backdrop, many saw the United States, and not Saudi Arabia, as the new oil king of the world.
Courtesy the shale output, for the first time since 1978, last September the States recorded a surplus in the petroleum trade.Petrochemical PET Smart Fabric
FOUND LIABLE:Nan Ya Plastics said that its US subsidiary would likely see orders increase because of the anti-dumping tariffs imposed on Chinese and Indian firms
The US Department of Commerce’s final rulings earlier this month that China and India have been dumping textiles in the US market have been welcomed by most Taiwanese textile exporters as a chance to compete in a fair market. Petrochemical PET Smart Fabric
Twine’s TS-1800 is the world’s first, unique and revolutionary solution offering on-demand Digital Thread Dyeing capabilities.
The light infrastructure, easy to use in-house system will change everything you knew about thread and yarns.
Whether you run cut-and-sew lines, a knitting factory, an embroidery service, a sample room, you are a designer or a brand, you will witness an immediate reduction in time and complexity in your daily routine.
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Asia’s titanium dioxide (TiO2) market outlook in December remains bearish, with demand in China expected to taper down in the weeks ahead.
Conditions in downstream markets remain dismal amid the protracted US-China trade war and lingering macroeconomic concerns. Consequently, demand for TiO2 pigments in China has also suffered.
Even with the news that China and the US have agreed to a phased roll-back of tariffs, many market players deem it premature to assume that the trade dispute could be imminently resolved.Petrochemical PET Smart Fabric
Term contract negotiations for 2020 would continue to be active in Asian petrochemical markets this week, which is expected to keep spot discussions thin.
Market participants would closely monitor naphtha feedstock price as the recent strength is likely to narrow petrochemical margins further.Petrochemical PET Smart Fabric
Market participants are closely watching new paraxylene capacity to be started up soon in China. Zhejiang Petrochemicals plans to start up its new aromatics plant soon and market players are expecting more capacity and supply to come online in China that should drive prices further lower. The PX-Naphtha spread which has been falling steadily during the year stood at $237.71/mt Friday, which is a low for the spread in five and half years. The spread was last lower on April 28, 2014, when it stood at $232/mt.
The European Union (EU) is planning a 3.5 billion euro (S$5.26 billion) fund that will invest in early-stage technology in an effort to increase the pipeline of innovations that might someday take on giants in the US and China.Petrochemical PET Smart Fabric
Traditional venture capital firms typically don’t fund “the famous innovation valley of death”, where science has produced a breakthrough, but a costly and risky research and development phase is still needed before a product could become viable, said Jean-Eric Paquet, the European Commission’s director general for research and innovation, in an interview at the Slush technology conference in Helsinki.
Petrochemical PET Smart Fabric