Petrochemicals Closed Loop BOPP 12-03-2020
Petrochemicals Closed Loop BOPP
Crude Oil Prices Trend
Neste, the world’s leading provider of renewable diesel, renewable jet fuel, and an expert in delivering drop-in renewable chemical solutions, and Mirova, a pioneer impact investor in the natural capital space and an affiliate of Natixis Investment Managers, today announce a combined EUR 10 million investment into Recycling Technologies Ltd (‘Recycling Technologies’), a specialist plastic recycling technology provider. The aim is to accelerate the development of chemical recycling and foster the transition to a circular economy for plastic.
This investment, consisting of EUR 5 million from Neste and EUR 5 million from Mirova through the Althelia Sustainable Ocean Fund*, provides the capital to start building Recycling Technologies’ first commercial RT7000 machine in Scotland.
Borealis has started to produce polypropylene based on renewable feedstock in its production facilities in Kallo and Beringen, Belgium.
This marks the first time that Borealis has replaced fossil fuel-based feedstock in its large-scale commercial production of PP.Petrochemicals Closed Loop BOPP
The Belgian plants were recently awarded by the International Sustainability and Carbon Certification (ISCC) organisation with ISCC Plus certification for its renewable PP.
‘Many of the current issues associated with the environmental impacts of plastic items stem from a lack of holistic thinking at the design stage,’ says professor
Wearing clothes could release more microfibres into the air than washing them, a new study has discovered.Petrochemicals Closed Loop BOPP
Scientists from the Institute for Polymers, Composites and Biomaterials of the National Research Council of Italy (IPCB-CNR) and the University of Plymouth recently conducted research into the amount of fibres that are released by different kinds of polyester clothing when the garments are being worn and washed.
A large buyer of U.S. scrap paper and plastic is planning measures to reduce imports and increase domestic recycling of those materials.
The South Korean government recently announced its plans to restrict mixed paper and PET bottle imports, although some specifics of the policy changes are still in the works.
Contaminated mixed paper draws focus Petrochemicals Closed Loop BOPP
On Feb. 17, the country’s Ministry of Environment published an announcement (in Korean) describing a general policy to reduce “waste paper” imports. The ministry has not yet published a translated version of the document; an online translation describes measures such as “full inspection” of imports and unspecified “restrictions.”
AIMPLAS opened the seventh International Seminar on Biopolymers and Sustainable Composites to address the challenges and opportunities of bioplastics and biocomposites in key legislative developments in Valencia, Spain, last week.
Mireia Mollà i Herrera, Valencian Minister of Agriculture, Rural Development, Climate Emergency and Ecological Transition, focused on the challenges and opportunities facing bioplastics and biocomposites in light of the fight against climate change. Mollà highlighted the role of AIMPLAS as a point of reference in terms of plastics innovation and knowledge transfer, and highlighted how its experience in the circular economy will help reintroduce materials into the production process.Petrochemicals Closed Loop BOPP
European chemicals prices and stocks rebounded on Tuesday after one of the worst trading days in over a decade but downside risks remain on potential inventory devaluations that may weight down first-quarter financials.
Petrochemicals spot prices and crude oil futures were up in European morning trading, recovering from the heavy losses on Monday which knocked almost 10% off the value of some of Europe’s largest chemicals firms.Petrochemicals Closed Loop BOPP
Average crude oil prices are anticipated to hover around $46 per barrel this year and not exceeding $50 next year following a disagreement on supply cut and the price war among Opec and non-member countries, says the Investment Analysts Association (IAA).
The forecast was a downward revision by 20% from previous expectations gauged by eight securities firms, according to the IAA.Petrochemicals Closed Loop BOPP
According to the latest data, US textile and apparel import was 5.692 billion square meters in Jan 2020, down by 9.2% year-on-year, among which that from China was 2.474 billion square meters, down by 17.5% year-on-year. Share of China’s textile and apparel import in US textile and apparel import market has declined by 43.5% compared with 47.8% in same period of last year.Petrochemicals Closed Loop BOPP
In Oct, growth rate of total textile and apparel import in the United States turned negative, with a decline rate of 8.2%. The growth rate of import has been negative for four consecutive months, and the decrement was expanding. Then the value and amount of textile and apparel imported from China were more unsatisfactory. Amount of textile and apparel imported from China has declined for five consecutive months, and it has declined to 17.5% in Jan; in terms of value, it has declined for six consecutive months and has dropped sharply by 31.6% year-on-year, indicating the sluggish demand of textile and apparel imported from China.
After the collapse of oil prices, as a small branch downstream of energy-saving products, nylon industry chain is bound to be implicated. Historically speaking, the trend of CPL has a strong correlation with the trend of oil prices.
Before 2012, because CPL was in short supply in general, the trend of oil prices was almost decisive for CPL. But from 2012 to 2014, as CPL market entered into a capacity expansion period, the influence of supply and demand increased, and its correlation with oil prices declined. From 2015 to 2018, both oil prices and domestic supply-side structural reforms were the driving forces. Since 2019, a new round of expansion of CPL and chip, against weak demand, made the development of the two more different.
From a long-term perspective, the decline in oil prices is undoubtedly a major negative influence on the CPL market. In the past 20 years, CPL has twice touched and dropped below the 10,000yuan/mt in early 2009 and early 2016, both of which are highly related to oil prices.Petrochemicals Closed Loop BOPP
The COVID-19 outbreak has swept across the world, affecting many industry worldwide. One hundred and one countries and regions have reported confirmed cases of COVID-19 as of Sunday morning, World Health Organization (WHO) spokesperson Fadela Chaib told Xinhua. A total of 105,427 confirmed cases were reported globally as of 6:00 CET (0500 GMT) Sunday, among which 3,583 patients have died, the spokesperson said. The influence of worldwide pandemic is not smaller than that of a global financial crisis. The global market was in “chaos”. Overseas stock market collapsed, and the OPEC+ failed to reach an output cut deal. Price of international oil plunged on Monday, with WTI crude oil price down to $30/bbl, and the whole world was in panic. The COVID-19 outbreak directly affected the end-user demand and rapidly transferred to upward market, resulting into high inventory of the whole polyester chain. The high stocks of polyester products were greatly devaluated after oil price collapsed, intensifying the pressure of the industry.
Worldwide epidemic spread drags down end-user demand
In view of domestic demand, the retail sales of apparels were substantially impacted by the COVID-19 outbreak. Many branded apparel companies chose to close the shop temporarily or curtail the running time to reduce losses. Sales of apparels were supposed to be sound near the Spring Festival holiday and back-to-school season, while sales were almost in stagnation, leading to piling up stocks in apparel enterprises. Inventory of winter wear accumulated, and sales of spring cloth were stunted too. Opening door to restart business meant losses for many apparel companies. Therefore, many companies started turning attention to online sales to reduce losses.
Many apparel companies still focused on traditional marketing channel although the layout of ecommerce increased. Thus, the spread of COVID-19 substantially impacted domestic sales of apparels.Petrochemicals Closed Loop BOPP
Petcore Europe has announced that the postponement of the event scheduled to be held on 16 April due to the recent developments regarding the coronavirus (Covid-19).
The decision to postpone the event was made due to the significant impact the Covid-19 virus has on international travel and events. In circumstances like these, the health aspect has to go first.Petrochemicals Closed Loop BOPP
Petrochemicals Closed Loop BOPP