Petrochemical Polyethylene Cellulose Fibres 04-01-2020

Petrochemical Polyethylene Cellulose Fibres

-OUTLOOK ’20: Fundamentals supportive of oil prices in 2020

2020 looks set to be a bullish year for crude with several key factors pushing the price higher across the globe.

The IMO 2020 regulations coming into effect and the US-China trade deal reaching a phase one agreement are some of the most pressing.

Petrochemical Polyethylene Cellulose Fibres

-Co-combustion of wood and oil-shale reduces carbon emissions

Utilization of fossil fuels, which represents an increasing environmental risk, can be made more environmentally friendly by adding wood—as concluded based on the preliminary results of the year-long study carried out by thermal engineers of Tallinn University of Technology. Petrochemical Polyethylene Cellulose Fibres

In search of less polluting ways of energy production, increasing the amount of biomass as a source of raw materials offers a good way to use fossil fuels and reduce emissions.

Petrochemical Polyethylene Cellulose Fibres

-Turkey: Exporters are not required to convert FX revenues into lira

Turkey has scrapped a requirement that exporters convert foreign exchange revenue into lira, according to an amended decree published on country’s Official Gazette, reports Reuters. Petrochemical Polyethylene Cellulose Fibres

The decree, requiring exporters to convert at least 80% of their overseas revenue into lira was published on September 4, 2018, during the height of a currency crisis which wiped some 30% off the value of the Turkish currency.

Petrochemical Polyethylene Cellulose Fibres

-OUTLOOK ’20: Europe nylon, capro demand to remain weak until automotives improves

The European nylon 6, nylon 6,6 and upstream caprolactam (capro) markets are expected to remain weak on low buying interest until consumption in the main downstream automotive sector improves.

The automotive sector has experienced a slowdown throughout 2019 due to car manufacturers halting production in order to reduce inventory levels and move toward more sustainable car models. Petrochemical Polyethylene Cellulose Fibres

Therefore, increased buying interest in automotives is the key topic for 2020 and the main driver for recovery in the nylon and capro markets.

Market players are uncertain regarding when demand could pick up in 2020, with some players expecting a stronger Q1 2020 driven by restocking after the quiet Christmas and New Year holiday period at the end of 2019.

Petrochemical Polyethylene Cellulose Fibres

-Deadly attack by US on Iranian general rattles energy market

Crude prices on Friday had the largest one-day spike since a September attack on the world’s largest oil processing facility in Saudi Arabia after the U.S. killed Iran’s top general in a drone strike.

If sustained, the rise in oil prices could push the cost of gasoline, heating fuel and electricity higher, potentially dragging on the global economy at a time when it is already slowing.

Deadly attack by US on Iranian general rattles energy market

-India’s OMPL offers benzene for 2020

Indian petrochemical producer, OMPL Mangalore Petrochemicals has offered up to 54,000t of benzene to overseas buyers through a tender issued today.

The tender invites buyers to submit bids for 6,000t of benzene each month for shipment during February-March and June-December 2020, a total of nine months.

Bids are to be submitted by 8 January with validity until 10 January.

Negotiations for 2020 term contracts are continuing throughout Asia-Pacific. Many producers made offers later than usual.Petrochemical Polyethylene Cellulose Fibres

India’s OMPL offers benzene for 2020

-Clariant Agrees to Sell Masterbatches Business for $1.6 Billion

This amount is payable at closing, which is expected by Q3 2020.

Clariant agreed to sell its entire Masterbatches business to PolyOne.

The transaction values the Masterbatches business at roughly $1.56 billion, representing c. 12.2 times the last twelve months reported EBITDA (ending September 2019) on a cash and debt-free basis.Petrochemical Polyethylene Cellulose Fibres

This amount is payable at closing, which is expected by Q3 2020.

“This announcement is a significant milestone on our path to focussing on businesses with above-market growth, higher profitability and stronger cash generation.

Clariant Agrees to Sell Masterbatches Business for $1.6 Billion

-2019 was worst year for automobile sector in decades

The year saw major automobile manufacturers cutting down on production and on working hands

The Indian automobile industry faced its worst year in 2019 as it witnessed the worst-ever downturn of two decades with passenger vehicles sales sliding sharply on the back of declining demand, according to data in the public domain.

The prominent automobile companies of the Indian market have released the December 2019 car sales reports which shows an abrupt decline in the passenger, utility and small commercial vehicle segment.Petrochemical Polyethylene Cellulose Fibres

2019 was worst year for automobile sector in decades

-Poland’s Azoty launches nylon compounding plant

European chemicals company Grupa Azoty has extended its output of technical plastics further with the production launch at a new 23.4-million-euro compounding plant in south eastern Poland.Petrochemical Polyethylene Cellulose Fibres

The 50,000 metric-tons-per-year unit, constructed together with German technology partner Akro-Plastik GmbH. at Tarnów, will process product from its nearby 80,000 metric-tons-per-year nylon plant. The compounding facility is turning out modified plastics for sectors such as automotive, electronics, construction and mechanical engineering.

Petrochemical Polyethylene Cellulose Fibres

Petrochemical Polyethylene Cellulose Fibres

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