Petrochemicals Coronavirus CrudeOil rPET 23-04-2020
Petrochemicals Coronavirus CrudeOil rPET
Crude Oil Prices Trend
Since 2020, the author has held the view that the cost pressure of acrylic fiber could be effectively improved with the significant production of ACN, and the market may embrace double harvest of production and benefit with the export sales market in the first half of the year.
However, the foreign trade peak season was hit by the overseas epidemic outbreak.
In the context of bleak order acceptance, even though raw material prices sharply have decreased by 4,750yuan/mt since the beginning of the year and acrylic fiber followed down, it was still difficult to improve the status quo of weak sales.
Fortunately, China’s epidemic has been gradually stable and started to recover production, while small yarn mills were able to maintain outpour through accepting domestic orders. Large plants held a part of inventory and cut production or took a holiday.
NPP POLYPLASTIC, Russia’s largest producer of thermoplastic composite materials, continues to ship composites for the production of mechanical ventilation devices (IVL), the company said. Petrochemicals Coronavirus CrudeOil rPET
So, it is noted that one of the most important activities of NPP POLYPLASTIC is the production of polymer materials for medical equipment.
In the current epidemiological situation, when the issue of providing hospitals with mechanical ventilation devices is most acute, the company does not stop its work and is ready to provide manufacturers of medical equipment with the necessary raw materials.
More than 3 tons of glass-filled polypropylene of the Armlen trademark has already been shipped to the Ural Instrument-Making Plant. This material is used for the manufacture of mechanical ventilation devices for the urgent needs of medical institutions.
Asia naphtha prices have tumbled to 18-year lows, pummelled by sharp losses in global crude oil futures on the back of a coronavirus pandemic-induced destruction to demand and ample supply.
At early hours session on Wednesday, open-specification naphtha prices for first-half June delivery averaged at $171.50/tonne CFR (cost and freight) Japan, extending the previous day’s decline by $15.50/tonne. Petrochemicals Coronavirus CrudeOil rPET
The downward spiral in response to the crash in global crude oil futures sent naphtha prices back to 2002 lows, ICIS data shows.
ICE Brent June crude oil futures stood at $18.74/bbl at midday session in Asia as the market grappled with a supply glut amid the coronavirus pandemic.
Recently, with the spread of the coronavirus pandemic around the world, the vast majority of industrial chains that relates to the production and marketing of epidemic prevention products have undergone earth-shaking changes.
After the entire polyolefin market moves higher, PE finally goes up, ignoring the current low oil prices and shrinking consumption and rebounds quickly.
Among them, HDPE high-MFR injection surges recently since someone uses it as raw materials to produce ES fiber. Petrochemicals Coronavirus CrudeOil rPET
Shares of petrochemical firms in Asia fell on Wednesday as crude futures continued to be pummeled by a supply glut and slumping demand amid the novel coronavirus pandemic.
Brent crude extended losses in Asian trade, dragging down regional prices of petrochemical feedstock naphtha back to 18-year lows; and of benzene below $300/tonne.
In the Chinese downstream butanediol (BDO) market, producers may continue running at less than half their capacity amid high stocks and poor demand. Petrochemicals Coronavirus CrudeOil rPET
U.S. oil prices crashed to the negative territory for the first time in history on Monday, fueled by pandemic-related demand shock and oversupply fears.
The West Texas Intermediate (WTI) for May delivery shed 55.9 U.S. dollars, or over 305 percent, to settle at -37.63 dollars a barrel on the New York Mercantile Exchange, implying that producers would pay buyers to take oil off their hands.
It marked the first time an oil futures contract has traded negative in history, according to Dow Jones Market Data. Petrochemicals Coronavirus CrudeOil rPET
WTI crude oil futures prices plummeted because traders were forced to close long positions to avoid buying physical crude without storage capacity.
Increasing pressure has caused crude oil to plunge to a negative value in recent months, and the polyester industry also witnessed high inventory burden.
INEOS and Plastic Energy are to build a new pyrolysis-based chemical recycling plant to come on stream at the end of 2023.
The location of the plant is yet to be decided but is expected to be either at, or close to, one of INEOS’ European cracker sites, a company spokesperson confirmed to ICIS.
The plant will input around 30,000 tonnes/year of mixed, multi-layer, low density polyethylene (LDPE), linear low density polyethylene (LLDPE), high density polyethylene (HDPE) polypropylene (PP) and some polystyrene (PS). Petrochemicals Coronavirus CrudeOil rPET
Plastic Energy uses a patented process called Thermal Anaerobic Conversion (TAC), which converts used plastic waste back to TACOIL, which is then used as a feedstock for polymer-chain production.
Spot ethylene prices have fallen below $300/t cfr northeast Asia to a new record low.
A deal was done for a May shipment at $280/t cfr northeast Asia today, market participants said, although this could not be confirmed. This would be $20-70/t lower than levels for other deals done in the past week.
Argus assessed prices at $280-350/t cfr northeast Asia today, the lowest since records began in 2003. Petrochemicals Coronavirus CrudeOil rPET
Sentiment remained weak in the region, with most participants seeing a lack of direction in the market. Ethylene supply has been ample this year on the back of weak demand from key downstream markets such as styrene monomer (SM), mono-ethylene glycol (MEG) and polyethylene (PE).
Asia-Pacific benzene prices have fallen to an 18-year low on a fob South Korea basis, dragged down a historic slump in US crude futures yesterday.
Prices were discussed at $285-288/t fob South Korea today, after a deal for June-loading benzene was done at $289/t on the same basis. This is the lowest since February 2002.
Benzene prices have fallen by over 60pc since hitting $740-750/t fob South Korea in January, pressured by the spread of Covid-19 outside China. Prices had been supported by tight supply because of maintenance shutdowns at reformers in Asia-Pacific and the Middle East. Toluene disproportionation (TDP) units were also either idled or loaded down because of a margin squeeze in the fourth quarter of last year. Petrochemicals Coronavirus CrudeOil rPET
Recycling Technologies Ltd (‘Recycling Technologies’), a specialist plastic recycling technology provider and Brightlands Chemelot Campus, an innovation, research and technological growth hub have signed the first agreement towards the installation of Recycling Technologies’ first European plastic chemical recycling machine, the RT7000, within the Campus in the Netherlands.
Recycling Technologies has developed a technology that can recycle plastic waste into a valuable feedstock for new plastic production. Petrochemicals Coronavirus CrudeOil rPET
Petrochemicals Coronavirus CrudeOil rPET