Plastic waste – Chinese yuan 15-03-2023 - Arhive
Plastic waste – Chinese yuan
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-Challenges ahead for US$1b meltblown sector
The meltblown nonwovens industry is facing a period of readjustment in 2023 and beyond while also needing to identify new sales channels for output on its existing lines, according to a new report.
Demand for N95 face masks and personal protective equipment (PPE) has led to a surge in the consumption of meltblown nonwovens with the world market more than doubling in 2019-2020, from $808.9 million to $1.6 billion.
These latest figures can be found in the latest exclusive analysis from industry analysts Smithers which noted that the consumption of disposable nonwovens almost quadrupled from $372.7 million in 2019 to $1.2 billion in 2020. Plastic waste – Chinese yuan
However, the report notes that this consumption spike has not been sustained; it has dropped as the threat of the pandemic has receded. The latest exclusive data from Smithers – available to purchase now in The Future of Meltblown Nonwovens Markets to 2028 – shows how in 2023 global value will fall back to $1 billion at constant prices. Total volume will reach 253,500 tonnes, down from a peak of 367,800 tonnes in 2020.
While some of the boom in demand for face mask media and medical PPE was managed by short-term repurposing of existing nonwoven assets, multiple new meltblown lines were commissioned.
-Tesla Confirms The Switch To 48 Volt System
Tesla moves forward with applying improvements to the low-voltage system of its electric vehicles, which so far was operating at roughly 12 volts just like in the vast majority of other cars.
During the recent 2023 Investor Day, Tesla’s representatives confirmed the intention to introduce a 48V system, which despite many years, is still a rare solution in the automotive industry.
The first step for Tesla was the switch from 12V lead-acid auxiliary batteries to 12V lithium-ion auxiliary batteries, announced in February 2021, and initially launched in the refreshed Tesla Model S/Model X (starting with the Plaid) – see an in-depth teardown here – and later used also in the Model 3/Model Y (in late 2021). Plastic waste – Chinese yuan
According to Tesla, the old lead-acid batteries were a major source of failures in Tesla cars, and they needed a replacement about every four years or so. The new lithium-ion batteries are expected to withstand the lifetime of the car (just like the main traction battery), so there should be no replacement needed at all.
That’s the obvious improvement, on top of which comes a smaller size and lower weight (87 percent reduction).
-Indaver’s Plastics2Chemicals plant built around Sulzer technology
Belgium-headquartered waste management company Indaver has selected technology developed by Swiss fluid engineering company Sulzer Chemtech for its new Plastics2Chemicals (P2C). The demo-scale plant, currently under construction in Antwerp, will use Sulzer’s separation technology to reclaim and purify 30,000 tonnes of plastic waste per year.
This demo plant is the first of a number of sustainable P2C facilities that Indaver plans to build in strategic locations across Europe. The company aims to realise a total annual recycling capacity of one million tonnes of used plastic. Plastic waste – Chinese yuan
At the new facility, the plastic waste will undergo a depolymerisation process, during which the long plastic macromolecules -polymers- are broken down into simple monomers. Sulzer Chemtech is supplying the equipment to subsequently recover and purify the monomers, which can then be further processed back into virgin-like resin suitable for use in numerous applications, including packaging materials and electronic devices.
Indaver decided to opt for Sulzer’s technology following a visit to Sulzer Chemtech’s in-house pilot plant at Allschwil, Switzerland, where extensive testing was also carried out.
Sulzer is delivering four units that will run proprietary processes aimed at enhancing the quality of the recovered styrene or oil fractions following depolymerisation, to yield a purer chemical feedstock. Plastic waste – Chinese yuan
-India to discourage foreign trade settlement in Chinese yuan – sources
India has asked banks and traders to avoid using Chinese yuan to pay for Russian imports, three government officials involved in policy making and two banking sources said, because of long-running political differences with its neighbor.
India, which has emerged as a top buyer of Russian oil as well as discounted coal, would prefer the use of United Arab Emirates dirhams to settle trade, three government officials said. Plastic waste – Chinese yuan
One of the government officials directly involved in the matter said New Delhi is “not comfortable” with foreign trade settled in yuan but said settlement in “dirham is okay.”
The second official said that India cannot allow settlement in yuan till the relations between the two countries improve.
Thousands of Indian and Chinese troops are locked in a standoff along their disputed Himalayan border since 2021, casting a shadow over the whole relationship.
The five officials did not say whether there were also economic reasons behind India’s reluctance to accept yuan settlement.
Last year India’s biggest cement producer UltraTech Cement used Chinese yuan for a cargo of Russian coal, which raised some concerns among officials as relationship between India and China has deteriorated after deadly border clashes in 2020 in the remote Galwan Valley of Ladakh.
The government reviewed the situation with officials of the central bank and bank executives, following the UltraTech deal, the second official said.
Two banking officials, aware of the matter, said the Reserve Bank of India (RBI) is not keen on foreign trade settlement in yuan, and confirmed that the government has discouraged them from using the currency. Plastic waste – Chinese yuan
They also said Russia was keen on yuan settlement as it helps them in purchases of goods from China.
-Carbios joins Ellen MacArthur Foundation’s circular economy network and aims to “make plastic waste and pollution a thing of the past”
Carbios’ innovations in biorecycling and biodegradability match the Foundation’s three actions for a circular economy for plastic: eliminate, innovate, circulate
Ellen MacArthur Foundation’s work in fashion will support Carbios’ contribution in making the textile industry more circular Plastic waste – Chinese yuan
Carbios announces its membership of the Ellen MacArthur Foundation’s Network. Carbios shares the Foundation’s commitment to accelerate the transition to a circular economy, especially in the areas of plastics and fashion. By joining the Ellen MacArthur Foundation’s Network, Carbios will connect with other leaders within the Foundation’s leading circular economy network of businesses, policymakers, academia, innovators, and thought leaders worldwide.
“Becoming a member of the Ellen MacArthur Foundation’s Network is an important step for Carbios’ development, and an obvious one given our shared commitment to a circular economy,” said Emmanuel Ladent, Chief Executive Officer of Carbios. “With access to ideas, thought leaders and new collaborators, we’re excited to leverage the Foundation’s network of experts to support market access for our innovative solutions for reducing plastic pollution.”
“Carbios is a highly respected organization with the ability to deliver impact and a high level of organizational buy-in. We welcome Carbios as a Network Member and look forward to supporting the company on its circular economy journey,” said Katie Attrill, Network Manager at the Ellen MacArthur Foundation. Plastic waste – Chinese yuan
-LyondellBasell announces decision to acquire Mepol Group
Facilities in Poland and Italy will produce recycled and polymer compounds for diverse markets
ROTTERDAM, Netherlands and FERRARA, Italy, March 13, 2023 /PRNewswire/ — LyondellBasell (NYSE: LYB) and Mepol Group today announced they have entered into a definitive agreement for LyondellBasell to acquire Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland, consisting of Mepol S.r.l. and its subsidiaries Polar S.r.l. and Industrial Technology Investments Poland Sp.z.o.o. Plastic waste – Chinese yuan
“This acquisition demonstrates LyondellBasell’s commitment to move the circular economy forward,” said Torkel Rhenman, executive vice president of Advanced Polymer Solutions. “With Mepol Group’s expertise in sustainable compounds and LyondellBasell’s scale, we will enhance our CirculenRecover and other sustainable solutions for our customers.”
Mirco Melato, CEO of Mepol commented, “We are delighted to join forces with LyondellBasell, an industry leader we have admired for many years. LyondellBasell shares our commitment towards sustainability and with its scale and resources, the combined business will be better positioned to address customer needs.”
LyondellBasell continues to pioneer circular and low carbon solutions for its customers. The company began engineering work for a new advanced recycling plant at its Wesseling, Germany site in November last year. LyondellBasell has existing mechanical recycling facilities in the Netherlands and Belgium and is developing new plastic waste sorting and recycling plants in Houston, Germany, China and India, which was announced during the fourth quarter of 2022. Plastic waste – Chinese yuan
The transaction closing is subject to regulatory approval and other customary closing conditions. During this period, Mepol Group will continue to operate on a standalone basis. Jones Day and Wardynski & Partners served as LyondellBasell’s legal advisor on the transaction. Special Affairs S.r.l. served as Mepol Group’s financial advisor and Gitti & Partners is acting as its legal advisor.
-Three companies nominated an increase in April PVC prices in the US
Westlake Chemical and Formosa Plastics have told customers they plan to push for a 4 cent per pound (USD88 per tonne) increase in the negotiated price of polyvinyl chloride (PVC) in April, ICIS reported.
Notifications about this were sent earlier in March. Shintech also said it would seek a 4 cent-pound increase, the same amount that Westlake and Formosa are requesting.
U.S. manufacturers announced price increases of 10 cents per pound for January and February, but changed the initiatives separately to include March proposals after the initiatives did not receive approval for January and then February.
The three companies have now raised prices by 1 cent per pound for January and February and 4 cents per pound for March and April. Plastic waste – Chinese yuan
The proposed combined increase would raise contract prices by USD220 per tonne in the U.S., roughly equivalent to a jump in spot export prices since late November.
At the same time, contracts were at record levels from mid-2021 to mid-2022 and still significantly exceed their historical norms, even in the face of declining domestic demand.
