Petrochemicals Biotech Circular Economy 24-07-2019
Petrochemicals Biotech Circular Economy
China – Polyethylene Terephthalate
PET and it’s chain continue to be very weak.
Crude oil is steady.
Polyamide 6 and its chain are steady.
Acrylonitrile is steady.
PET Bottle grade export 850/935 $/ton – PET Bottle grade domestic market 7,150/7,250 yuan/ton – PET Filament grade SD domestic market 6,900/7,050 yuan/ton – PET Filament grade BR domestic market 6,950/7,050 yuan/ton
PTA Taiwan 745/755 $/ton – PTA domestic market 5,750/5,850 yuan/ton – MEG 530/545 $/ton – MEG domestic market 4,350/4,500 yuan/ton – PX Korea 830/840 $/ton Polymers
Polyester POY 150D/48F domestic market 7,900/8,000 yuan/ton – Polyester DTY 150D/48F domestic market 9,250/9,350 yuan/ton – Polyester Staple PSF domestic market 8,200/8,350 yuan/ton
Crude Oil Prices Trend
It is undeniable that plastic waste contributes to the earth’s ecological devastation and issues in human health.
In 2017, industrial ecologist, Roland Geyer, led a study on the ‘Production, use and fate of all plastics ever made’ and estimated that there are more than 8.3 billion metric tons (Mt) of plastics that have been produced since the 1950s.
The study also found that in 2015, only nine percent of plastics have been recycled, 12 percent incinerated and 79 percent accumulated in landfills or the ocean. If this trend continues, it is expected that roughly 12,000 Mt of plastic waste will be in landfills or the natural environment by 2050.
With a tough first half of the year behind them, acrylonitrile (ACN) sources are now turning attention to the final six months of 2019, which looks set to deliver more challenges for some players.
INEOS Nitriles Seal Sands embarking on outage
Protracted contract talks
Contradictory messages; falling spot and tight supply
The European supply situation for ACN is still tight and, while many customers are more relaxed than they were a few months ago with regards to supply, spot material on offer remains scarce. Petrochemicals Biotech Circular Economy
The crude oil market would keep a close watch on developments in the Middle East.
Oil prices have been swinging higher and lower depending on shifting sentiment between the US and Iran as well as from the US-China trade negotiations.
Buyers put in a premium for Hurricane Barry, but other than halting production for a couple of days, the storm did little to disrupt supply. Prices got pressurised after the reports that production in Gulf of Mexico increased after Hurricane Barry passed through region without inflicting major damage on the oil platforms.
Since there was no supply disruption, speculative buyers were forced to liquidate.
Russia’s output of basic chemicals increased by 2.8% in the first six months of 2019 year on year, according to data from the country’s official statistics agency.
The production of chemical products in June rose by 5.5% month on month.
According to the Federal State Statistics Service of the Russian Federation (Rosstat), ethylene accounted for the largest increase in production year on year – 260,000 tonnes of ethylene were produced in June, compared to 262,000 tonnes a month earlier.
In January-June, 1,578,000 tonnes of this olefin were produced, up by 3.8% year on year.
When are the world’s energy and chemical companies really going to start to apply longer-term thinking to plastics recycling and the circular economy?
The current focus, understandably, is on single use plastics, largely packaging materials. Producers are becoming more involved in the processing of plastic waste, the goal often being to recycle back to the monomer. Technically, advances are being made.
But beyond that, the companies that know how to manipulate molecules, effectively and efficiently, can be the ones that have great influence on and benefit the most within the circular economy. Petrochemicals Biotech Circular Economy
Crude oil prices have been slow to support US base oil prices during July, despite snug supply in some viscosity grades and good demand factors provided by the summer uptick in driving and use of motor oils.
One US base oil posted price increase emerged in July. Group II producer Chevron announced a 20 cent/gal increase on all its viscosity grades effective 2 July.
Shares of Reliance erased earlier gains and fell as much as 1.6 per cent in Mumbai.
Billionaire Mukesh Ambani’s Reliance Industries’s talks to sell a minority stake in its refinery business to Saudi Arabian Oil Co. have stalled on differences over the deal’s structure, people with knowledge of the matter said.
Aramco is concerned about Reliance’s proposal to shift some debt of the wider group to its refinery business ahead of the transaction, said the people, who asked not to be named as the discussions are private. The Indian company is working on alternatives and negotiations could still resume and lead to a compromise in the coming months, the people said. Petrochemicals Biotech Circular Economy
Recycled polyethylene terephthalate (R-PET) food-grade pellet (FGP) prices have reached a record-high spread with virgin polyethylene terephthalate (PET) and colourless R-PET flake values have reached sustained parity with virgin PET for the first time in 2019.
Demand remains driven by rising fast-moving consumer goods (FMCG) sustainability targets, EU legislation and changing consumer attitudes to single-use plastics.
Coca-Cola European Partners announced that its Honest, Glacéau Smartwater and Chaudfontaine brands soon will be packaged in bottles made from 100% rPET recycled plastic.
The new bottles will be phased in between the end of 2019 and 2020, with rPET replacing some 9,000 tonnes (about 9,921 tons) of virgin plastic annually across Western Europe.
The resin markets and industry breathed a collective sigh of relief as Tropical Storm Barry came and went without causing any significant disruptions. It did, however, leave a trail of heightened trading activity and, to the delight of resin buyers, lower prices.
Spot resin offerings were heavy and sharper discounts were seen for both polyethylene (PE) and polypropylene (PP) railcars, particularly for off-grade material, reports the PlasticsExchange (Chicago) in its weekly Market Update. Petrochemicals Biotech Circular Economy
European nylon and caprolactam markets are under pressure from weak demand in the automotive sector.
Restructuring of the industry due to CO2 regulations has had a significant impact, and some car manufacturers have announced factory closures, indicating that recovery before 2020 has become more unlikely. Petrochemicals Biotech Circular Economy
he Riyadh (Saudi Arabia)-based leading manufacturer of petrochemicals, SABIC has introduced its LNP™ ELCRIN™ iQ portfolio of polybutylene terephthalate (PBT) compounded resins. The company said in its recent release that it is derived from recycled polyethylene terephthalate (rPET) and supports the circular economy while helping to substantially reduce plastic waste.
SABIC is encouraging the use of recycled resins by chemically upcycling primarily single-use water bottles discarded by the consumers into higher value PBT materials with enhanced properties and making them suitable for more durable applications.
Izumi offers various kinds of winders, creels, warp and weft feeding and tensioning devices for carbon fiber and other critical high-performance fibers.
Izumi International Inc. (Greenville, S.C., U.S.) was founded in 1977 in Greenville, South Carolina, and established itself by providing cutting-edge technology primarily for the Japanese water jet and air jet weaving machines.