Petrochemicals Polymers AdipicAcid News 16-07-2020
Petrochemicals Polymers AdipicAcid News
Crude Oil Prices Trend
Japanese companies and a university plan to begin a study to produce paraxylene (PX) by using carbon dioxide as feedstock, instead of naphtha.
Japanese basic chemical producer HighChem, plant engineers Chiyoda and Nippon Steel Engineering, the country’s steel major Nippon Steel, trading house Mitsubishi and Toyama University will collaborate in manufacturing PX from CO2. State-owned research agency New Energy and Industrial Technology Development Organization (Nedo) will invest ¥2bn ($18.6mn) in the project.
The study involves the development of new catalysts and reactors at aromatics complexes to generate PX from CO2. Once such technologies are established to some extent, Mitsubishi will begin a feasibility study.
China has added polypropylene (PP), along with polyvinyl chloride (PVC) and linear low-density polyethylene (LLDPE), as a trading option on the Dalian Commodity Exchange in the country’s northeastern province of Liaoning, said Technicaltextile.
With this, the number of options listed for trading on the Exchange has increased to seven, according to Chinese media reports. Petrochemicals Graphene AdipicAcid News
The seven options and 20 futures listed for trading on the Exchange cover several fields including chemicals, energy and agriculture. Petrochemicals Polymers AdipicAcid News
The inclusion of PP, PVC and LLDPE will boost the risk management ability of petrochemical enterprises, the reports said.
Nordson Corporation has regretfully decided that it will not actively participate in the Fakuma 2020 trade show, due to the continuing risks posed by the coronavirus pandemic. Petrochemicals Polymers AdipicAcid News
While Nordson’s Polymer Processing Systems (PPS) group will retain its exhibit space at the show, it will not send the team that it had planned on, nor exhibit equipment.
The company had intended to display its BKG pelletizers and melt delivery systems, EDI polymer extrusion dies, and Xaloy screws and barrels.
The European Commission has fined three companies a total of €260mn for breaching EU antitrust rules by co-ordinating their approach to negotiating the price of ethylene purchases. Petrochemicals Polymers AdipicAcid News
The three companies are Clariant, which purchases ethylene for the production of ethylene oxide in its home country of Germany; US-based Celanese, which produces vinyl acetate monomer (VAM) and acetaldehyde from ethylene; and Mexico’s Orbia, parent company of German PVC producer Vestolit. All three acknowledged their involvement and agreed to settle the case.
The individual fines were calculated in relation to the size of the companies’ ethylene purchases and the duration of the infringement, with various reductions related to co-operation with the investigation, for example.
US Q3 industrial ethanol contracts settled higher this week as supply tightens once again in many regions of the US due to spikes in the coronavirus.
Spot prices of industrial ethanol were heard to be higher, and customers continue to buy a large amount of product on the spot market versus the contract market.
A recent unexpected surge in demand has come from the fact that cases of coronavirus are rising in California, Texas and Florida. These highly populated states have created surging demand for sanitizers. Petrochemicals Polymers AdipicAcid News
Heightened demand for sanitizers, and consequently for industrial ethanol, is expected to be a long-term trend, even if a coronavirus vaccine is made.
2020 was supposed to be the year of growth in the recycling markets, with the likes of recycled high density polyethylene (R-HDPE), recycled polypropylene (R-PP) and recycled polyethylene terephthalate (R-PET) expecting a sharp increase in demand from the packaging and preform sectors. But no one could have predicted the dramatic and sustained impact the coronavirus pandemic, the subsequent crash in crude oil prices, and demand drop-off would have on the world’s recycled markets.
The aftereffects of coronavirus lockdowns have resulted in substitution back to virgin, weak demand, delayed investments, a lack of underlying growth, and financial strain across the recycling industry. Petrochemicals Polymers AdipicAcid News
The economic impact of the coronavirus is likely to remain the dominant driver of the recycling market in the second half of 2020, and markets are expected to remain opaque and volatile.
ML Polyolefins has developed a new HDPE blend, Product PIPEFIN HD46, to meet expectations of the growing and demanding recycling field.
The regranulate manufacturer has developed a unique blend for extrusion which is characterised by high stability of technical parameters and repeatability.
Representatives of ML Polyolefins ensure that key technical parameters are tested on an ongoing basics during the production processes and verified in the company’s laboratory. Shipments are available in big-bag’s or silos, and the waiting time for delivery is three weeks from the order. Petrochemicals Polymers AdipicAcid News
Indorama Ventures Public Company Limited (IVL), a global chemical producer, has become a Task Force on Climate-Related Financial Disclosures (TCFD) Supporter, according to IVL’s press release.
IVL is the first chemical company in Thailand and the second chemical company in Southeast Asia to become a TCFD supporter by volunteering to comply with TCFD recommendations and supporting their climate change agenda. Becoming an official Supporter cements the company’s commitment towards and leadership in sustainability, embedding Environmental, Social and Governance (ESG) factors in IVL’s business operations. Petrochemicals Polymers AdipicAcid News
The TCFD was created in 2015 by the Financial Stability Board (FSB) to develop consistent climate-related financial risk disclosures for companies, banks, and investors when providing information to stakeholders. TCFD recommendations are globally recognized for climate-related risk management and disclosure from the perspective of financial institutions. IVL also conducts scenario analyses that adopt TCFD recommendations as guidelines for climate change strategy. These sensitivity analyses cover impacts on the company’s productions, revenues and EBITDA.
MEGlobal has announced its Asian Contract Price (ACP) for monoethylene glycol (MEG) to be shipped in August 2020, according to the company’s press release.
Thus, on 13 July the company said ACP for MEG will be at USD590/MT CFR Asian main ports for arrival in August 2020, which corresponds to the level of July.
The August 2020 ACP reflects the short term supply/demand situation in the Asian market. Petrochemicals Polymers AdipicAcid News
As MRC reported earlier, MEGlobal announced its July ACP for MEG at USD590/MT CFR Asian main ports, up by USD20/tonne from June.
Planning to build a 50,000-ton capacity greenfield Maleic Anhydride plant, to be located at its Morris, IL site.
Polynt-Reichhold Group announced its decision to build a 50,000-ton capacity greenfield Maleic Anhydride plant, to be located at its Morris, IL site.
The decision was made following a thorough evaluation of multiple organic and inorganic investment opportunities. Petrochemicals Polymers AdipicAcid News
The Morris site is the Group’s largest site for unsaturated polyester resins.
It has ample space for expansion. The site benefits from cost-efficient logistics through its access to a rail spur and a dock for barges on the Illinois River.
Petrochemicals Polymers AdipicAcid News