POLYESTERTIME plastic petrochemicals 04-09-2018 - Arhive
-Crude Oil Prices Trend
-Industry chain profit re-allocation; PX-PTA to remain strong
PTA supply and demand structure may change under high PTA-PX spread.
With the sharp increase in PTA price, the PTA-PX spread has expanded to more than 2,000yuan/mt. Some small units that have been shut for long time are scheduled to restart such as Fujian Jialong and Yangzi Petrochemical.
In addition, some PTA producers have delayed the turnaround plans. In the case of shortage of domestic supply, the PTA imports from Taiwan and South Korea during July and September have increased. Therefore, the short-term PTA supply is expected to be revised up somewhat
-The September contract price for paraxylene was agreed in Asia at USD1,340 per tonne
Paraxylene market players in Asia agreed on a contract price for material supplies in September at the level of USD1,340 per ton, which is USD280 per ton higher than the level of the previous month.
This contract price was approved on the terms of delivery of CFR Asia and is the second agreement for the period April-July, when market players could not reach agreement on contract prices for paraxylene.
–Indian Oil eyes 2021 start-up for Paradip MEG unit – executive
MUMBAI –State-owned Indian Oil Corp (IOC) expects to bring on line its planned monoethylene glycol (MEG) plant in eastern Odisha state in 2021, a senior company official said on Tuesday.
The plant will be located at IOC’s petrochemical complex linked to its 15m tonne/year Paradip refinery.
“We have received all the necessary approvals for the 350,000 tonnes/year MEG plant and expect to commission it by April 2021,” IOC executive director for petrochemicals Avinash Verma said.
-China’s MEG price rises amid expectation of futures contract on the DCE
Singapore — China’s Dalian Commodity Exchange plans to accelerate the launch of a monoethylene glycol futures contract, together with some other commodities, the DCE’s CEO Wang Fenghai said at the Institutional Commodity Derivatives Forum 2018 in Dalian last Thursday.
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Register Now The news boosted market sentiment, pushing the CFR China MEG price up $37/mt from last Wednesday to $977/mt Friday and putting a stop to tepid MEG trading activity.
-September contract price of styrene rose in Europe at EUR65 per tonne
MOSCOW – The contract price of styrene monomer in Europe was agreed at the level of EUR1,380 per tonne for September deliveries, which is EUR65 per ton higher than the level of the previous month, ICIS reported citing confirmation from two sellers and two buyers on the market
Discounts, bartering and smuggling are among the tactics Iran may lean on to keep almost 800,000 barrels a day of its oil exports flowing after U.S. sanctions resume in November.
Iran’s Oil Minister Bijan Namdar Zanganeh alluded to this toolbox, which was used in the past, when he said Iran will find “other ways” to keep its crude in the market. The measures won’t be enough to blunt the full impact of sanctions on oil exports, which have already slumped to the lowest level since March 2016
-NZ Company Essano to Launch 100% Recycled Bottles
Committed to reducing plastic pollution the #1 natural skincare brand in New Zealand Grocery* Essano, is proud to announce the launch of its new 100% recycled Shampoo and Conditioner bottles.
The new shampoo and conditioner bottles are made from rPET which is 100% pre-used, recycled material, that is also 100% recyclable, supporting the circular economy.
FDM, Fashion Development Materials, is added to the 5 business units that Bio-on created a year ago.
A dedicated team will develop new materials based on Minerv PHA bioplastics, 100% natural and biodegradable, targeting the fashion and luxury industry.
The new materials also respond to the need to reduce the pollution caused by synthetic fibers that are released into the environment. A dramatic phenomenon similar to that caused by plastic microbeads used in cosmetics that pollute seas and rivers.
The strategy of setting up the business units has generated important results in just one year, allowing to optimize the company organization the company and to accelerate the ability to respond to the growing demand for PHA bioplastics coming from different sectors.
-Oil prices are unlikely to rise above $80 this year, Oman minister says
Oman is the largest non-OPEC producer in the Middle East and it was severely affected by the oil price slump that took hold in 2015.
It signed up to a late-2016 deal between OPEC and non-OPEC producers, notably Russia, to curb oil output in a bid to support prices.
-Oil prices higher as U.S. sanctions limit Iran exports
LONDON – Oil prices rose on Monday, supported by concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November, but gains were limited by higher supply from OPEC and the United States.
Brent crude oil was up 60 cents at $78.24 a barrel by 1345 GMT. U.S. crude was 15 cents higher at $69.95.
-Environmental Product Declarations lead to transparency in packaging industry
Vaughan Constructions delivers more than $12million in facilities for Fort Knox and Aldi
Southern Forests Food Council creates new program for Genuinely Western Australia
VEGAPULS 64 delivers best measuring results with 80 GHz
Total Construction explains pros and cons of buying and leasing
With an emphasis on the life cycle impact of the processes from raw material to product end-of-life, Ecolean is the first packaging system supplier to review an entire production system.
-EMEA petrochemicals outlook, w/c Sep 3
London — Supply of ethylene, the feedstock for a wide array of petrochemcials, has surprisingly turned long in Europe right before several crackers are set to begin annual maintenance.
OLEFINS
It remains to be seen whether further length will build this week. Fundamentals in the propylene market were expected to stay stable amid signs of upcoming tightness and healthy demand. Uncertainty over the development of butadiene pricing in Asia in September has added a note of caution to the European market, with sellers otherwise bullish following a recent uptick in pricing due to tightening supplies amid ongoing production issues and upcoming turnarounds. In the naphtha market, weaker demand from petrochemicals due to cracker maintenance is likely to compound already soft physical fundamentals in the region.
-Half of Taiwanese companies report investment loss in China
TWSE and TPEX-listed Taiwanese companies found returns from investing in China not as good as years ago
TAIPEI (Taiwan News) – Approximately 50 percent of 1,275 Taiwanese companies which are listed on the Taiwan Stock Exchange (TWSE) and the Taipei Exchange (TPEX) reported losses from investing in China for the first half of 2018, said Liberty Times from studying the companies’ semiannual reports.
-Oil prices higher as U.S. sanctions limit Iran exports
LONDON – Oil prices rose on Monday, supported by concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November, but gains were limited by higher supply from OPEC and the United States.
Brent crude oil LCOc1 was up 50 cents at $78.14 a barrel by 1215 GMT. U.S. crude CLc1 was 10 cents higher at $69.90.
The two benchmarks have risen strongly over the last two weeks with Brent gaining more than 10 percent on expectations that global supply will tighten later this year.
-Roica fabrics to be part of Premiere Vision Smart Square03
Asahi Kasei’s Roica Eco Smart family of stretch fibre that offers responsible yarns, will be displayed at Premiere Vision Paris’ Smart Square expo, which will be held from September 19 to 21, 2018, in Paris, Italy, Roica experts will display the Global Recycled Standard (GRS) version 3 certified yarn and the Cradle2Cradle Material yarn at the expo.
