Petrochemicals Crude Oil Covid19 20-03-2020 - Arhive
Petrochemicals Crude Oil Covid19
Crude Oil Prices Trend
-Worsening COVID-19 abroad to weigh on polyester export &downstream O/R
The COVID-19 pandemic has been deteriorated overseas, and the total overseas infections have been surpassed those in China now. The latest data was updated here Latest on the novel coronavirus outbreak.
Current polyester polymerization rate has ascended to above 81% with eased COVID-19 pandemic in domestic China and increasing production resumption, and the run rate of fabric mills in Zhejiang and Jiangsu rose to near 70%.
Domestic supply has recovered now, but the spread of COVID-19 continued abroad. Market players paid much attention to the influence on the export of polyester products.
Long-term project business in China remains stable – Oerlikon wins three large manmade fibers orders in China with a total value of over CHF 600 million
Pfäffikon, Schwyz, Switzerland – March 16, 2020 – Oerlikon has received new large orders for manmade fibers production solutions from three of the world’s leading manmade fibers manufacturers.Petrochemicals Crude Oil Covid19
All three companies are based in China and have been key customers of Oerlikon for many years.
The orders are for Oerlikon Barmag’s world leading filament-spinning technology for the highly efficient production of polyester fibers. The three projects have a total value of more than CHF 600 million (EUR 565 million).
-Abu Dhabi set to ban single-use plastic by 2021
A new policy by The Environment Agency aims to foster a culture of recycling to reduce plastic dependency
A new policy by the nation’s Environment Agency lays out the plan to eliminate use of avoidable single-use plastic and non plastic materials by encouraging community recycling and re-use. Petrochemicals Crude Oil Covid19
The efforts are part of the government’s ‘Ghadan 21’ programme focused on increasing sustainability alongside accelerating economic development.
-Chinese PET prices hit historic lows
Negotiations on the sale of lots of Chinese brands of bottled polyethylene terephthalate (PET) are currently held at a historically low level – below the level observed in late 2008 and early 2016, ICIS reported.Petrochemicals Crude Oil Covid19
So, some negotiations are in the range of USD725-730 per tonne, FOB China, since the futures of raw materials – refined terephthalic acid TPA) in China continue to decline.
-Weekly Resin Report: After Slow Start, Week Ends with Large Volumes of PE Changing Hands
The spot resin markets were slow most of last week, as many participants retreated to their bunkers, watching the commodity and stock markets erode in epic fashion.
There is no doubt that the severe restriction of non-essential travel, in an attempt to contain the spread of the novel coronavirus, as well as the effective shutdown of public events will have a tremendous impact on the economy and, ultimately, plastics demand, reports the PlasticsExchange in its Market Update.Petrochemicals Crude Oil Covid19
-Volatile Asia-Latin America freights decline, cheaper PET imports have no takers
Freight costs remain volatile as vessels are now transporting goods half full impacted by the coronavirus pandemic that has created logistics nightmares.
As Chinese petrochemical participants partially return to the market scene trying to reduce inventory levels, other parts of the world such as the Americas are seeing increasing numbers of infection posing a big challenge to the shipping industry.
Chinese offers of polyethylene terephthalate (PET) are heard at $800-835/tonne CFR Main Port Pacific Coast of South America. The price declined $125/tonne from offers a week ago at $925/tonne CFR same basis.Petrochemicals Crude Oil Covid19
-ITM and HIGHTEX exhibitions postponed until July
The ITM20 and HIGHTEX20 exhibitions, which were due to take place from 2-6 June, have been postponed. Both shows will now take place from 14-18 July 2020.
The organisers issued the following statement just minutes ago: “ITM 2020 International Textile Machinery Exhibition and HIGHTEX 2020 International Technical Textile & Nonwoven Trade Fair, organized with the partnership of Tüyap Tüm Fuarcılık Yapım A.Ş and Teknik Fuarcılık A.Ş to be held in Istanbul Tüyap Convention and Congress Center this year between June 2-6, have been postponed to 14-18 July 2020, as a result of decisions taken by World Health Organization (WHO) and Turkey – Ministry of Health.” Petrochemicals Crude Oil Covid19
-South Korea to enact plastic import restrictions
A large market for U.S. scrap plastic is planning measures to reduce PET imports and increase domestic recycling.
The South Korean government recently announced its plans to restrict scrap PET bottle imports, although some specifics of the policy changes are still in the works.
PET bottle import ban Petrochemicals Crude Oil Covid19
In a Feb. 5 English language release, the environment ministry framed upcoming import policy changes as a way to bolster recycling within South Korea.
-‘Made in Turkey’ home textiles sold to 165 countries as exports surge
Turkish-made home textiles were exported to 165 countries in the first two months, as overseas sales surged, according to Uludağ Exporters’ Associations (UİB) data Wednesday.
Sales in January and February surged by 5.76% year-on-year to hit nearly $415 million, up from $392.2 million in the same period of 2019.
Germany, one of the country’s top export markets, took the lead in sales, seeing an increase of 9.2% from $65.2 million to $71.2 million. Petrochemicals Crude Oil Covid19
-RoTac³ tangling unit with comprehensive modifications
major technological changes to Oerlikon Neumag’s RoTac³ tangling unit produce even more efficient BCF yarn tangling.
On the one hand, the tangling nozzle has been flow-optimized, allowing the air pressure to be lowered by approximately 10 percent compared to its predecessor, while maintaining the same knot strength.
Furthermore, the nozzle bearing arrangements have been improved. Consequently, either higher speeds or nozzle rings with greater numbers of holes can be used, generating more knots in the yarn. Petrochemicals Crude Oil Covid19
Petrochemicals Crude Oil Covid19