Petrochemicals Carbon Fiber RePackaging 04-02-2020 - Arhive

Petrochemicals Carbon Fiber RePackaging

Crude Oil Prices Trend 

Crude Oil Prices Trend  Polyestertime

-February price of benzene in Europe for supplies rose by EUR63 per ton

The contract price of benzene in Europe for deliveries in February of this year was finally agreed at EUR742 per tonne, which is EUR63 per tonne higher than the January price level, ICIS reported citing confirmation from three buyers and two sellers .

The contract price was agreed on the terms of delivery of CIF Northwest Europe.

Petrochemicals Carbon Fiber RePackaging

-Removal of anti-dumping duty on PTA a right step: SIMA

The Southern India Mills Association (SIMA) has thanked Prime Minister Narendra Modi for favourably considering the long pending demand of the industry and abolishing the anti-dumping duty being levied on Purified Terephthalic Acid (PTA) imported from different countries including China, Indonesia, Taiwan, Iran, Malaysia, in Union Budget 2020-21.

PTA attracts anti-dumping duty from $27 to $160 per metric tonne depending upon the country of origin and India often faces shortage of PTA that curtails capacity utilisation of the polyester segment industry.

Petrochemicals Carbon Fiber RePackaging

-Union budget proposes National Technical Textiles Mission

A National Technical Textiles Mission with a four-year implementation period from 2020-21 to 2023-24 at an estimated outlay of ₹1,480 crore has been proposed by finance minister Nirmala Sitharaman in her presentation of Union Budget 2020-21 today.

She also announced abolition of anti-dumping duty on PTA, a key raw material for synthetic textiles.Petrochemicals Carbon Fiber RePackaging

“India imports significant quantity of technical textiles worth $16 billion every year.  To reverse this trend and to position India as a global leader in technical textiles, a National Technical Textiles Mission is proposed,” Sitharaman said in her budget speech.

Petrochemicals Carbon Fiber RePackaging

-Oil falls as coronavirus hits Chinese crude demand

Oil prices fell on Monday to their lowest in more than a year, dragged down by worries about lower demand in top crude importer China after a new coronavirus outbreak spread from there to around 20 other countries.

Brent crude was at $56.26 a barrel by 0926 GMT, down 36 cents. Prices dropped by more than a $1 earlier in the session to $55.42, the lowest since January 2019.

U.S. West Texas Intermediate (WTI) crude fell 5 cents to $51.51 a barrel, after earlier hitting a session low of $50.42, the lowest since January 2019.

Oil falls as coronavirus hits Chinese crude demand

-ITF welcomes structural reforms in budget 2020-21

Coimbatore-based Indian Texpreneurs Federation (ITF) has welcomed the three big structural reforms announced in the Union Budget 2020-21 presented by finance minister Nirmala Sitharaman today. The reforms are abolishing anti-dumping duty on PTA, reviewing the rules of origin requirements, and setting up of National Technical Textiles Mission.Petrochemicals Carbon Fiber RePackaging

“Today’s budget announcement of abolishing anti-dumping duty on purified terephthalic acid (PTA), a key raw material for the man-made fibre (MMF) industry, will be a big booster to Indian textile sector’s export competitiveness,” ITF said in a press release.

Petrochemicals Carbon Fiber RePackaging

-Chem stocks plunge as US declares coronavirus emergency

US-listed chemical shares and stock indices fell sharply on Friday as the US declared coronavirus a public health emergency.Petrochemicals Carbon Fiber RePackaging

The Dow Jones Industrial Average closed at 28,256.03, down 603.41 points or 2.09%. The S&P 500 closed at 3,225.52, down by 58.14 points or 1.77%.

The Dow Jones US Chemicals Index closed at 610.84, down by 14.74 or 2.36%. The S&P 500 Chemicals index closed at 605.81, down by 14.92 points or 2.40%.

The following shows the performance of some of the US-listed stock follows by ICIS.

Petrochemicals Carbon Fiber RePackaging

-DOMO Chemicals Completes The Acquisition Of Solvay’s Performance Polyamides Business In Europe

DOMO Chemicals, a producer of high-quality engineering materials for a diverse range of markets, today announced that the company has completed its acquisition of Solvay’s Performance Polyamides Business in Europe.Petrochemicals Carbon Fiber RePackaging

This Business includes Engineering Plastics operations in France and Poland; High Performance Fibers in France; Polymer and Intermediates operations in France, Spain and Poland.

The Business comprises Production, Sales, Technical Support, R&D and Innovation services in France, Spain, Poland, Germany and Italy that currently have a combined headcount of approximately 1,100 employees. The agreement also involves a joint venture between BASF and DOMO in France for the production of Adipic Acid.

Petrochemicals Carbon Fiber RePackaging

-Solvay out of nylon ( Italian Language Only)
More than two years after the announcement, the sale of the polyamide 66 and intermediate businesses to BASF and DOMO was completed on 31 January.

Solvay has completed the divestiture of its activities in polyamides 66 and intermediates, sold to the German BASF group and to the Belgian Domo Chemicals group, a split imposed by the European Commission to avoid excessive concentration in the supply chain.

Petrochemicals Carbon Fiber RePackaging

Petrochemicals Carbon Fiber RePackaging

-Adient sells premium seating unit Recaro

Automotive seating supplier Adient sold its premium brand, Recaro Automotive Seating, at the start of the year – a move that comes as the company works to bring itself back to profitability.Petrochemicals Carbon Fiber RePackaging

Recaro is now owned by Raven Acquisition LLC, a privately owned, Detroit-based investment corporation, Recaro said in a statement. Raven is led by a former Recaro executive and TCE Enterprises, a family investment company with experience in the auto industry, the release said.

Petrochemicals Carbon Fiber RePackaging

-A 2020 Recession? How to prepare for a downturn

Rabobank’s team of economists says there is an 80% chance of a recession in 2020. What a downturn could mean for consumer behavior, investor behavior, and, ultimately, food and beverage companies? Petrochemicals Carbon Fiber RePackaging

Rabobank’s own recession model suggests an 80% chance of a recession by the end of 2020, but you shouldn’t expect a repeat of the 2008 financial crisis. Though Rabobank’s economists are predicting a shallow recession, consumers and consumer spending are going to take a hit. This could be the first economic downturn experienced by many young, trend-setting consumers, and food and beverage companies have to strategize their response to the inevitable shifts in consumer behavior.

A 2020 Recession? How to prepare for a downturn

-Polartec unveils 100 per cent recycled Power Air fabric

Polartec, a provider of innovative and sustainable textile solutions, has announced the latest advancement of award-winning Polartec Power Air fabric technology. The knit construction that encapsulates air to retain warmth and reduce fibre shedding is now made to be 100 per cent recyclable and circular, and also 25 per cent lighter than the initial product.Petrochemicals Carbon Fiber RePackaging

Polartec Power Air, launched last year with brands like Houdini, Adidas, Burton, and Nobull, is an innovative platform offering advanced thermal efficiency by encapsulating lofted fibres within a multilayer, continuous yarn fabric construction.

Polartec unveils 100 per cent recycled Power Air fabric

Petrochemicals Carbon Fiber RePackaging

Fabric Carbon Fiber RePackaging 03-02-2020