Petrochemicals Enzymes Automotive PE 08-06-2020

Petrochemicals Enzymes Automotive PE

Petrochemical Polymers PETBottles Paraxylene Trend

Petrochemicals Enzymes Automotive PE

Crude Oil Prices Trend

Crude Oil Prices Trend

-Pandemic, dire economy, unrest upend US presidential race

Three concurrent crises scarring the United States — a deadly health pandemic, economic despair and widespread social unrest — have reframed this year’s presidential contest and prompted national reflection over racial inequality in America.

Is the country on the cusp of a transformation, or will systemic inequalities exacerbated by the coronavirus crisis persist, allowing alienation and marginalization to fester?

In weeks, the unprecedented strain has become the focal point of the ferocious White House campaign between President Donald Trump and Democrat Joe Biden, two politicians approaching the disasters with very different strategies.

Pandemic, dire economy, unrest upend US presidential race

-OPEC+ Extends Oil Cuts in Win for Saudi-Russian Alliance

OPEC+ agreed to a one-month extension of its record output cuts and adopted a stricter approach to ensuring members don’t break their production pledges.

The deal will underpin the oil market recovery, easing the financial pain felt by resource-dependent emerging economies, shale explorers in Texas, and blue-chip companies like Royal Dutch Shell Plc.

It’s a victory for Saudi Arabia and Russia, who put a destructive price war behind them to successfully cajole Iraq, Nigeria and other laggards to fulfill their promises to cut production. The two leaders of OPEC+ showed that they intend to keep a close watch on the oil market, meeting every month to assess the balance between supply and demand amid an uncertain economic recovery from the global pandemic.

“Our collective efforts have borne fruit, and despite many uncertainties, there are encouraging signs that we are over the worst,” said Saudi Energy Minister Prince Abdulaziz bin Salman. “Demand is returning as big oil-consuming economies emerge from pandemic lockdown,” he added.

Petrochemicals Enzymes Automotive PE

-Europe ethylene spot prices rise but propylene fails to gain traction

Ethylene and propylene demand remains rather mixed depending on derivative and application and the outlook is still certainly unpredictable but, on a short-term basis, there have been some shifts in spot prices.

ETHYLENE FIRMS AS MARKET BALANCES

Ethylene has moved from an extremely lengthy supply position – lowest pricing point in April and H1 May – into a much more balanced scenario.

A fire at Borealis’ Stenungsund, Sweden cracker on 11 May and its subsequent ongoing outage, together with unplanned issues at the Priolo and Brindisi crackers in the Mediterranean, changed the fortunes of those ethylene sellers constantly under pressure to manage their balances. Petrochemicals Enzymes Automotive PE

Petrochemicals Enzymes Automotive PE

-Saudi Arabia’s oil exports plunge $11 billion in first quarter

Brent crude prices fell more than 60% in the quarter hurt by the coronavirus pandemic and an oil price war between Saudi Arabia and Russia following the collapse in March of talks on further production cuts.

DUBAI: The value of Saudi Arabia’s oil exports plunged by 21.9% year on year in the first quarter to $40 billion, corresponding to a decline of about $11 billion, official data showed on Sunday.  Petrochemicals Enzymes Automotive PE

Brent crude prices fell more than 60% in the quarter hurt by the coronavirus pandemic and an oil price war between Saudi Arabia and Russia following the collapse in March of talks on further production cuts.

Petrochemicals Enzymes Automotive PE

-STADLER continues to increase productivity at RCS PET sorting plant

RCS, based in Werne, Germany, is continuing its partnership with STADLER to provide companies efficient and sustainable solutions for the disposal of commercial waste.

An important area of focus for RCS is the recycling of PET bottles to produce plastic flakes for a variety of applications and high-quality regranulate for the food sector.

In order to achieve both the consistent high purity it requires and optimise the processes at its plant, RCS has relied on STADLER’s expertise over the years.

Petrochemicals Enzymes Automotive PE

Petrochemicals Enzymes Automotive PE

-Latin America PP faces high degree of demand risks amid rising feedstocks

Latin America polypropylene (PP) continues to face a high degree of uncertainty stemming from pandemic-related impacts.

Reduced refinery operations have lowered propylene feedstock supply and rising crude prices will likely prevent any further price reductions for PP.

While demand for essential goods remains largely intact, industrial sectors are in steep decline. Petrochemicals Enzymes Automotive PE

Brazil has quickly moved up the list of confirmed coronavirus cases, now second only to the US. The largest country in Latin America now has more than 550,000 confirmed cases, and daily death rates over the past weeks have been in the thousands.

Latin America PP faces high degree of demand risks amid rising feedstocks

-US industrial ethanol demand remains strong, expected to be a long-term trend

Heightened demand for sanitizers, and consequently industrial ethanol, is expected to be a long-term trend even if a coronavirus vaccine is made.

Many large alcohol distributors and producers are now investing in or considering the permanent switch to industrial ethanol and sanitizer production as increased sanitization efforts are now considered a long term consumer trend.

As US fuel ethanol producers continue to feel margin pressure, despite indications of demand recovery, some are considering the switch to industrial production for the long term. Petrochemicals Enzymes Automotive PE

Smaller fuel producers are more likely to consider the switch, as larger fuel ethanol producers are typically able to weather downturns for a longer period of time.

US industrial ethanol demand remains strong, expected to be a long-term trend

-Automotive demand, rising feedstock costs spur monoethylene glycol buying

European MEG spot demand for barges and trucks has risen of late on a combination of firm feedstock costs, tighter supply and resurgent automotive demand, according to market sources.

Register Now Having traded below the Eur300/mt ($340/mt) mark early last week, spot truck prices were trading as high as Eur390/mt in some cases and offered at Eur430/mt FCA in recent sessions. Petrochemicals Enzymes Automotive PE

In the bulk market where buyers were looking for material, offers were seen as high as Eur400/mt CIF Antwerp.

Automotive demand, rising feedstock costs spur monoethylene glycol buying

-Plastic Recycling Vital for Our Circular Economy

MBA Polymers UK General Manager and President of EuRIC’s Plastic Recycling Branch, Paul Mayhew, highlights the important role plastic recycling will play in creating a circular economy.  Petrochemicals Enzymes Automotive PE

MBA Polymers’ vision is to create a sustainable planet by eliminating plastic waste and preventing the depletion of the world’s natural resources. Through a series of processing stages, we can produce a recycled polymer to the same specification as the original part, closing the recycling loop by reprocessing many tonnes of post-production waste each week, which would have otherwise been sent to landfill.

EuRIC shares this same vision and acknowledges the key benefits plastic recycling plays in the respect of turning waste into high-quality recyclates. By doing so, it contributes to save virgin resources, greenhouse gas emissions and energy.

MBA Polymers UK General Manager and President of EuRIC’s Plastic Recycling Branch, Paul Mayhew

-China Trade Surplus Surges to Record as Medical Exports Jump

China’s trade surplus surged to a record in May as exports fell less than expected, helped by an increase in medical-related sales, and imports slumped along with commodity prices.

Exports decreased 3.3% in dollar terms from a year earlier, beating economists’ estimates, while imports plunged 16.7%. That resulted in a trade surplus of $62.93 billion. Petrochemicals Enzymes Automotive PE

The record surplus comes as the price of commodities China buys such as crude oil, natural gas and soy beans declined. Exports, meantime, have come off their lows, helped in part by sales of masks and other medical supplies as countries around the world battle to stem the spread of the coronavirus.

China Trade Surplus Surges to Record as Medical Exports Jump

Petrochemicals Enzymes Automotive PE

Petrochemicals Enzymes Automotive PP 06-06-2020

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