Plastic chemicals automotive biopolymer 28-11-2018
-China – Polyethylene Terephthalate PET and its chain are assessed mixed.
PET Bottle grade export 1,010/1,050 $/ton – PET Bottle grade domestic market 8,050/8,150 yuan/ton – PET Filament grade SD domestic market 7,600/7,750 yuan/ton – PET Filament grade BR domestic market 7,650/7,800 yuan/ton
PTA Taiwan 820/835 $/ton – PTA domestic market 6,050/6,200 yuan/ton – MEG $ 680/690 $/ton – MEG domestic market 5,800/5,900 yuan/ton – PX Korea 975/985 $/ton
POY 150D/48F domestic market 8,250/8,350 yuan/ton – DTY 150D/48F domestic market 10,150/10,250 yuan/ton – PSF domestic market 8,750/8,900 yuan/ton
The spot prices for monoethylene glycol (MEG) in Europe continue to decline, following a downward trend in Asia.
The MEG market in Europe is currently considered to be a shopper market, after prices have been on a downtrend for some time.
The downward trend is in line with the continued downtrend in the Asian market.
Mono-ethylene glycol (MEG) price offers in Asia continued to show a downward trend on Monday following the recent drop in crude oil prices, which resulted in weak trading activity in the market, ICIS reported.
In the second half of yesterday, November 26, negotiations on the sale of MEG in the region were in the range of USD670-675 per ton, CFR CMP (main port of China), with some lower price values of approximately USD660 per ton, CFR CMP.
-Crude Oil Prices Trend
China China Petroleum & Chemical Corp. (Sinopec), the largest oil refining company in Asia, on November 24 lowered its domestic price proposals for phenol in eastern China by 1,000 yuan (CNY) or USD144 per ton following quotes in the spot market going down, a company source told ICIS .
Thus, according to him, the November prices of phenol Sinopec are now at the level of CNY10,000 or USD1,439 per ton, ex-works (ex-works)
Oman Petrochemical Company Oman Oil Refineries and Petroleum Industries Co (Orpic) plans to begin commissioning at the end of 2019 at the new petrochemical complex for the production of polymers in Liwa (Liwa, Sokhar, Oman), and in 2020 year – put it into operation, ICIS sources told the market.
Trade protectionist barriers recently built up will hit global demand for chemicals as they trigger changes in the flows of goods, industry executives said on Monday.
Amid the escalating US-China trade war, the chemical industry’s demand pattern will change in the near term, said Ahmad Al Saleh, business director for ethylene glycol at Kuwaiti producer EQUATE.
Taiwanese Formosa Plastics Corp. (FPC), a major global manufacturer of petrochemical products, intends to increase December polypropylene (PP) prices in the US by 3 cents per pound (USD66 per ton), ICIS reports, citing a letter to the company to customers
Prices will be increased from December 1, or as terms of contracts allow.
Other producers also separately announced a price increase of 2-3 cents per pound (USD44-66 per ton) for deliveries in November and December.
DHAHRAN, Saudi Arabia (Reuters) – Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, as U.S. President Donald Trump piled pressure on the kingdom to refrain from production cuts at an OPEC meeting next week.
The meeting, at which OPEC members will consider how to arrest a decline in oil prices, comes days after leaders of top global oil producers – Russian President Vladimir Putin, Saudi Crown Prince Mohammed bin Salman and Trump – travel to Argentina for a G20 summit this week.deliveries in November and December.
The Chairman of the Gulf Petrochemicals and Chemicals Association (GPCA) called upon the region’s chemical industry to transform and consolidate to compete with new players, namely North America due to shale gas development and China because of coal to chemicals.
“We are trying to energise the industry to transform, and also benefit from the growth that the industry is going to experience in the coming years. We are very clear that the industry is going through rapid transformation,” Yousef Abdullah Al-Benyan, Chairman of GPCA said on the sidelines of 13th Annual GPCA Forum.
INVISTA, owners of the LYCRA® brand and portfolio of products, will launch its new patented LYCRA® FREEF!T® Technology in North America at the Kingpins NYC show on November 28-29. LYCRA® FREEF!T® technology provides denim and woven fabrics with soft, easy stretch and excellent recovery.
The LYCRA® FREEF!T® technology was born out of consumer research* which showed that while more than 65% of female respondents across five countries desire jeans that are easy to move in, only 25% of respondents indicated the last pair of jeans they purchased allowed them to move comfortably. Further, only 22% of respondents said the last pair they purchased held their shape, despite 56% of respondents wanting jeans that would do so.
China’s booming urban clusters are driving wealth growth and demand, but this might lead to lower-than-expected per capita polymer consumption because of growing environmental concerns, an industry consultant said on Monday.
“The rich in China, apart from sustainability concerns, don’t want to waste time in traffic jams,” John Richardson, senior consultant for Asia at ICIS told delegates at the Gulf Petrochemicals and Chemicals Association’s (GPCA) annual forum.
Even self-driving cars can’t be completely safe while human error remains a factor on the road
Iconic transmission supplier ZF has revealed an airbag-based strategy for autonomous vehicles.
At ‘Airbag 2018’, a German symposium in Mannheim this week, ZF presented an ‘external pre-crash airbag’, ‘dual-contour airbags’ that protect the occupant no matter what the seat position, ‘far-side airbags’ and a new, lightweight knee airbag module.
Uztextileprom is exploring the possibility of exporting textile products from Uzbekistan to EU countries, in particular to the Polish market.
The delegation of the Association “Uztextileprom” and representatives of the textile and garment-knitwear enterprises visit the Republic of Poland on November 19-25, 2018, press service of the Association “Uztextile” reports.
Consumption of water to wash denim fabric has reduced drastically over a last couple of years due to the adoption of modern technologies in the production process by denim producers, say denim-makers and machine suppliers.
At present, it is possible to wash a kilogramme of denim fabrics with only 180 litres of water. Earlier, it needed at least 270 litres or more of water for washing the same quantity, Sayeed Ahmad Chowdhury, general manager (operations) of Square Denims Limited, told The Independent.