Petrochemicals Biodegradable Carbon Fibres 16-08-2019
Petrochemicals Biodegradable Carbon Fibres
China – Polyethylene Terephthalate
PET and it’s chain continue to be assessed mixed.
Crude oil price is in health.
Polyamide 6 and its chain are firm.
Acrylonitrile is steady.
PET Bottle grade export 825/890 $/ton – PET Bottle grade domestic market 6,800/6,900 yuan/ton – PET Filament grade SD domestic market 6,650/6,800 yuan/ton – PET Filament grade BR domestic market 6,750/6,900 yuan/ton
PTA Taiwan 695/705 $/ton – PTA domestic market 5,200/5,300 yuan/ton – MEG 530/545 $/ton – MEG domestic market 4,450/4,550 yuan/ton – PX Korea 775/785 $/ton
Polyester POY 150D/48F domestic market 7,750/7,850 yuan/ton – Polyester DTY 150D/48F domestic market 9,100/9,200 yuan/ton – Polyester Staple PSF domestic market 7,200/7,300 yuan/ton
Crude Oil Prices Trend
Oerlikon Barmag recently signed contracts for two orders with a total of 120 spinning positions for manufacturing polyamide POY yarn with Chinese yarn manufacturers. What makes this so special is the fact that all positions will be equipped with the EvoQuench radial quenching system for polyamide.
Further EvoQuench PA POY systems destined for China
Polyamide (PA) microfiber yarns
With this, two well-known yarn manufacturers are now committing to the EvoQuench concept to produce polyamide yarn, equipping themselves for the efficient manufacture of microfiber yarns in the process. The benefits of radial quenching vis-à-vis conventional cross-flow quenching when manufacturing microfibers are well-known from polyester processing: manufacturing outstanding quality in a more production-reliable manner, i.e. with fewer yarn breaks, is a convincing argument and makes producing polyamide microfibers considerably more efficient.
China’s recent slew of negative macroeconomic data for July points to further weakness in its growth outlook for this year despite the delay in the US’s implementation of the 10% additional tariffs on some of the $200bn of Chinese goods.
The country’s vehicle sales also fell by 4.3% year on year in July.
“China’s economy still faces strong headwinds amid weakening domestic demand and re-escalating US/China trade tensions. Beijing cannot afford to stop policy easing yet,” Japanese brokerage Nomura said in a note.
On the petrochemicals front, shares of most major Asian producers have weakened this week, tracking global equity markets, while spot prices of base chemical feedstocks have been weighed by falling crude oil futures amid persistent fears over a global recession.
NOVA Chemicals, one of the world’s largest producers of polyolefins, announced an increase in the price of polyethylene (PE) by 4 cents per pound (USD88 per tonne) from September 1 of this year or as contracts permit, ICIS reports with reference to a company letter to customers.
According to the letter, 4 cents per pound set for September is in addition to the NOVA announced earlier increase of 3 cents per pound (USD66 per tonne) in August.
Contracted PE prices in the US have been declining for the past two months in a row. Lower contract prices and higher export volumes led to lower margins for polyethylene producers. Buyers may resist the resumption of rising prices, as raw material costs declined for most of the year, while stocks remain in abundance.
The European polyethylene terephthalate (PET) and upstream purified terephthalic acid (PTA) markets will continue to be challenged by supply and demand, which in turn is heavily impacted by the bigger, unpredictable, global picture.
– Upstream volatility, particularly in Asia
– Unusual weather patterns affect demand
– Virgin PET and the road to sustainability
The most recent moving goal posts in influential Asian markets saw prices up the PET value chain plummet in early August, before soaring again overnight.
The global market volume for adipic acid should grow from nearly 3,920.6 kilotons in 2018 to 4,535.9 kilotons by 2023 with a compound annual growth rate (CAGR) of 3.0% for the period of 2018-2023.
The scope of the report covers the overview of the global market for adipic acid and analyses of global market trends, with data from 2016, a base year of 2017 and estimates for 2018 and 2023, with projections of CAGR in the forecast duration. Sales values are presented in U.S. dollars, while volumes are presented in kilotons units. Estimated values used are based on manufacturers’ total revenues.
US-listed chemical stocks fell sharply on Wednesday as the Dow Jones Industrial Average declined by 3.05%.
The index closed at 25,479.42, down 800.49 points.
The S&P 500 closed at 2,840.60, down by 85.72 points or 2.93%.
The stock markets fell after the yield on a 10-year Treasury note fell below that for a two-year note. Normally, the yields on longer term notes are higher than those for shorter term ones. Such inversions have preceded recessions.
The yield on a 30-year Treasury bond also reached its lowest return ever.
The low yields on Treasury bonds and notes followed bad news in other parts of the world.
Researchers in Singapore have invented ‘smart’ clothing they say can boost signals and save battery life on wireless devices such as headphones and smart watches.
The invention called “metamaterial” allows radio waves like Bluetooth and Wi-Fi to glide across clothing between wearable devices instead of radiating outwards in all directions.
This means sensors and wearable technology such as Apple Watches and AirPods can establish stronger connections faster and save energy, the scientists at National University of Singapore said.
“This T-shirt increases the wireless connectivity of devices around my body by 1,000 times,” said assistant professor John Ho, donning a sports shirt laced with comb-shaped strips of the metamaterial textile.
Polyester fiber and plastics maker Shinkong Synthetic Fibers Corp (新光合成纖維) yesterday said that it expects its main product prices to remain sluggish for the remainder of this year, after it caused its revenue in the first seven months to decrease 4.53 percent annually to NT$23.51 billion (US$748.6 million).
“Prices of plastic and PET [polyethylene terephthalate] products have been on a decline due to increasing supplies in China,” company president Samson Luo (羅時銓) told an investors’ meeting in Taipei.
Sibur has completed the reconstruction of a terephthalic acid (TPA) production facility at its Blagoveshchensk site. It is currently the only TPA (a precursor to PET) site in Russia.
In Russia, annual consumption of TPA amounts to around 500,000 tonnes. An increase in output from 272,000 to 350,000 tonnes driven by the upgrade of the existing capacities in Blagoveshchensk will help largely phase out reliance on imports, claims Sibur.
Honeywell says that Zhejiang Satellite Petrochemical Co., Ltd. is using Honeywell UOP’s C3 Oleflex technology to produce 450,000 metric tons per year (m.t./yr) of polymer-grade propylene for a new petrochemicals complex in China. This is the second C3 Oleflex unit now operating with Satellite. Honeywell UOP (Des Plaines, Ill; www.uop.com) delivered Satellite’s first Oleflex unit in 2014.
Oleflex technology is helping to meet the growing demand in China for propylene, a key ingredient in plastics. Oleflex technology has been selected for a majority of dehydrogenation projects globally since 2011, including applications for propane, isobutane, and mixed propane and isobutane feeds.
Bag-in-Box Example Rapak´s View on Trends, Challenges, Solutions and Open Questions
Sustainability is one of the most discussed topics these days, especially in terms of packaging. For both packaging companies and food producers, new regulations and laws present challenges. On July 4th Alexander Kayser, General Manager Europe for Rapak, a global leader in flexible packaging for liquids, shared the company’s outlook on sustainability trends in a food industry event in Heidelberg, Germany.
While the attention on plastic waste is growing from the public, government and lobbyists, the world is starting to realize that not all plastic is equal. The core function of packaging is to protect products, keep food and drink fresher for longer and reduce product waste.