Petrochemicals Polymers – German industrial orders rebound in August but outlook uncertain 09-09-2023
- Polymers : PET – r-PET – Filament grade semidull chips -Filament grade bright chips – Ny6 – Ny66 – PP
- Feedstocks PX – PTA – MEG – CPL – Adipic Acid – Benzene – ACN – Ethylene – Phenol – Naphtha
- Textile : Polyester POY – DTY – FDY – PSF – Recycled Polyester POY – Nylon POY – DTY – FDY Spandex 20-30-40 -Viscose Staple Fiber VSF Acrylic Staple Fiber
|Bottle grade PET chips domestic market||7,200 yuan/ton||7,025 yuan/ton||-175|
|Bottle grade PET chips export market||905 $/ton||890 $/ton||-15|
|Filament grade Semidull chips domestic market||7,100 yuan/ton||6,980 yuan/ton||-120|
|Filament grade Bright chips domestic market||7,170 yuan/ton||7,010 yuan/ton||-160|
|Pure Terephthalic Acid PTA domestic market||6,240 yuan/ton||6,005 yuan/ton||-235|
|Pure Terephthalic Acid PTA export market||790 $/ton||760 $/ton||-30|
|Monoethyleneglycol MEG domestic market||4,050 yuan/ton||4,025 yuan/ton||-25|
|Monoethyleneglycol MEG export market||470 $/ton||467 $/ton||-3|
|Paraxylene PX FOB Taiwan market
|1,117 $/ton||1,050 $/ton
|Paraxylene PX FOB Korea market||1,094 $/ton||1,027 $/ton||-67|
|Paraxylene PX FOB EU market||1,250 $/ton||1,250 $/ton||–|
|Polyester filament POY 150D/48F domestic market||8,050 yuan/ton||7,900 yuan/ton
|Recycled Polyester filament POY domestic market||7,550 yuan/ton||7,550 yuan/ton||–|
|Polyester filament DTY 150D/48 F domestic market||9,350 yuan/ton||9,150 yuan/ton||-200|
|Polyester filament FDY 68D24F
|9,200 yuan/ton||9,100 yuan/ton||-100|
|Polyester filament FDY 150D/96F domestic market||8,650 yuan/ton||8,500 yuan/ton||-150|
|Polyester staple fiber 1.4D 38mm domestic market||7,800 yuan/ton||7,620 yuan/ton||-180|
|Caprolactam CPL domestic market||13,000 yuan/ton||12,500 yuan/ton
|Caprolactam CPL overseas market||1,600 $/ton||1,600 $/ton||–|
|Nylon 6 chips overseas market||1,830 $/ton||1,900 $/ton||–|
|Nylon 6 chips conventional spinning domestic market||14,050 yuan/ton||13,500 yuan/ton||-550|
|Nylon 6 chips high speed spinning domestic market
|14,900 yuan/ton||14,400 yuan/ton||-500|
|Nylon 6.6 chips domestic market||19,500 yuan/ton||19,400 yuan/ton||-100|
|Nylon6 Filament POY 86D/24F domestic market||17,000 yuan/ton||16,500 yuan/ton||-500|
|Nylon6 Filament DTY 70D/24F domestic market||19,150 yuan/ton||18,700 yuan/ton-||-450|
|Nylon6 Filament FDY 70D/24F||18,100 yuan/ton||17,500 yuan/ton||-600|
|Spandex 20D domestic market
|36,500 yuan/ton||36,500 yuan/ton||–|
|Spandex 30D domestic market||35,000 yuan/ton||35,000 yuan/ton||–|
|Spandex 40D domestic market||32,200 yuan/ton||32,200 yuan/ton||–|
|Adipic Acid domestic market||9,900 yuan/ton||9,800 yuan/ton||-100|
|Benzene domestic market
|8,240 yuan/ton||7,940 yuan/ton||-300|
|Benzene overseas market||975 $/ton||908 $/ton||-67|
|Ethylene South East market||870 $/ton||900 $/ton||+30|
|Ethylene NWE market||785 $/ton||772 $/ton||-13|
|Acrylonitrile ACN domestic market
|10,000 yuan/ton||10,000 yuan/ton||–|
|Acrylonitrile ACN overseas market||1,200 $/ton||1,200 $/ton||–|
|Acrylic staple fiber ASF domestic market||14,100 yuan/ton||14,600 yuan/ton||+500|
|Viscose Staple Fiber VSF domestic market||13,400 yuan/ton||13,400 yuan/ton||–|
|PP Powder domestic market
|7,600 yuan/ton||7,450 yuan/ton||-150|
|Naphtha overseas market||711 $/ton||648 $/ton||-37|
|Phenol domestic market||9,477 yuan/ton||9,112 yuan/ton||-365|
r-PET high end eco-friendly chips =7,800 yuan/ton — 7,800 yuan/ton –
- Petrochemicals PET-Bottle – DFRL, Mysuru develops biodegradable water bottles 02-09-2023
- New enzyme technology for environmentally friendly plastic recycling
German industrial orders rebound in August but outlook uncertain
German industrial orders rose more than expected in August due to a strong increase in computing, electronic and optical products, but the outlook for the sector remains challenging.
Orders rose by 3.9% on the previous month on a seasonally and calendar adjusted basis, the federal statistics office said on Friday.
A Reuters poll of analysts had pointed to a rise of 1.8%.
“This means that incoming orders have stabilised after a two-year decline,” said Ralph Solveen, chief economist at Commerzbank. However, this stabilisation is at a lower level than before and companies will have to gradually adjust their production in the coming months. Petrochemicals Polymers
The less volatile three-month on three-month comparison showed that new orders were 4.9% higher in the period from June to August than in the previous three months.
The increase in August follows a sharp decline the previous month. The statistics office revised July’s drop to 11.3% compared with June, from a provisional decline of 11.7%.
In August, an increase of 37.9% on the month in the manufacturing of computer, electronic and optical products drove the expansion in industrial orders. The manufacturing of electronic components was largely responsible for the increase, the statistics office said.
Foreign orders were up 3.9% on the month and domestic orders rose by 4.0%, the data showed. Petrochemicals Polymers
“The weak external environment and the high level of uncertainty in Germany still call for caution,” said Bastian Hepperle, senior economist at Hauck Aufhaeuser Lampe Privatbank. He said the weak period in the manufacturing sector was likely to continue.
Despite the positive data for August, Germany’s manufacturing sector, which accounts for about a fifth of its economy, remains mired in a downturn.
Geneva Motor Show (GIMS) in Qatar
Sheikhs from oil to electricity. And they take Ginevra to the desert
From oil to electricity, even sheikhs change. The car is not the end, but the means to get into. Just as the rest of the world seems to want (or have to) go down: investing on four wheels is now officially the new frontier of the richest Arab countries. The strategy is always the same: attract the best to your home, exactly as has already happened for football and other forms of business. Nothing is impossible, nor too expensive for them. Not even carrying Guinevere into the desert. Petrochemicals Polymers
This is exactly what is happening, given that the most prestigious and oldest car show in the world, after a few years of trouble, increasingly lukewarm participation from manufacturers and cancellations due to Covid, opened its awaiting Middle Eastern edition on Saturday in Doha to return to Switzerland next February. The Geneva Motor Show (GIMS) in Qatar – which will be organized every two years and always in conjunction with the Formula 1 Grand Prix – is not a scandal at all but a sign of the times, with a fundamental variant. Petrochemicals Polymers
The idea of Middle Eastern countries is to ride the change in global mobility and invest the money earned from oil and natural gas in renewables and electric cars. The desire, in many cases, is to support a foreign brand and then find a way to also invite it to build its cars in the Emirates, contributing to the growth of the local economy.
Rich Arab entrepreneurs continue to buy European luxury cars to show off behind the wheel on the Corniche in Doha or at the Dubai Marina, where Ferraris and Lamborghinis, Bentleys and Rolls-Royces circulate as if they were giving them away: traditional custom-built cars remain a status symbol here. But this attraction, which was also reflected at the level of investments for Gulf companies that purchased shareholdings in traditional brands, seems to be over. Today, with the ecological transition, Arab funds are looking less and less at Europe and more and more at China, master of the electric car with its brands, still little known in our latitudes but very popular elsewhere. Petrochemicals Polymers
CYVN Holding, for example, recently signed a deal to buy 7% of NIO. The Abu Dhabi government fund will thus contribute to giving an injection of liquidity (700 million euros) to the Shanghai company. While the Ministry of Investment of Saudi Arabia has declared that it is ready to invest around 5 billion euros in Human Horizons, a Chinese brand that has recently made its debut in Europe with two premium electric cars under the HiPhi brand.
Not only participations, but also production. It happened with Iconiq Holding Limited, a startup founded by Chinese entrepreneur Allen Wu in 2016 and purchased in 2022 by NWTN, a Dubai-based company financed by Sultan Investments, a giant in the Emirati real estate sector. NWTN has built a factory in China and one in Dubai where it assembles cars coming from China. Saudi Arabia, which is already ready to debut on the market with Ceer, the first brand of the monarchy which is part of a joint venture between the sovereign fund Pif and the Taiwanese multinational, is also the main investor of the American Lucid Motors which has received an order for 100 thousand vehicles over ten years from local authorities, and which will produce its 100% battery-powered vehicles in a factory near Jeddah, near the Red Sea. The initiative is part of the program launched by the Riyadh government to diversify the local economy and achieve, by 2030, a 30% sales mix covered by battery-powered cars. Petrochemicals Polymers
It is normal, with these premises, that a country like Qatar brings home the most famous event dedicated to the sector, with the participation of many Chinese manufacturers alongside Toyota, Kia, Porsche, Volkswagen, Audi, Lamborghini, Mercedes and BMW which here they obviously brought their most luxurious models (but not only) and 10 world “firsts”. «We have created a completely new car festival, respectful of the Geneva tradition but with an innovative format – explains Sandro Mesquita, CEO of GIMS who has signed an agreement with the Qatari authorities for 5 editions over the next ten years -. No longer just an exhibition, but dynamic tests on the track and in the desert for the public.”
But Doha is focusing on broader projects. Petrochemicals Polymers
«For our country – explains the Qatari Minister of Tourism Saad Bin Ali Kharji – the GIMS is the most prestigious and influential automotive experience in the Middle East. An important step also in terms of hospitality in the strategy that will help us become the fastest growing destination in this part of the world by 2030.”