Polymers PET Petrochemicals Biomaterials 09-01-2019
-China – Polyethylene Terephthalate
PET and its chain inch up.
PET Bottle grade export 1,000/1,040 $/ton – PET Bottle grade domestic market 7,950/8,050 yuan/ton – PET Filament grade SD domestic market 7,550/7,700 yuan/ton – PET Filament grade BR domestic market 7,550/7,650 yuan/ton
PTA Taiwan 805/825 $/ton – PTA domestic market 6,200/6,350 yuan/ton – MEG $ 620/635 $/ton – MEG domestic market 5,100/5,250 yuan/ton – PX Korea 9,80/990 $/ton
POY 150D/48F domestic market 8,000/8,150 yuan/ton – DTY 150D/48F domestic market 9,950/10,050 yuan/ton – PSF domestic market 8,750/8,850 yuan/ton
Spot import prices of monoethylene glycol (MEG) in Asia fell in the first week of January, continuing the downward trend from December 2018 amid the economic downturn in China’s key market, ICIS reported. MEG prices Asia Chinese economy
Sales on the downstream polyester market were low, which further lowered MEG prices.
On January 2, MEG’s price proposals and deals were in the range of USD622-625 per tonne, CFR CMP (main port of China).
Paraxylene prices in the Asian market declined by 8.01% in the first week of January compared to a level of about two weeks ago, ICIS reported.
So, on January 2, material prices in Asia amounted to USD930-932 per ton, CFR CMP (main ports of China) / Taiwan, against the level of USD1 011-1 013 per ton, CFR CMP / Taiwan, December 21 last year.
Recent price losses in energy markets, combined with a deteriorating global macroeconomic situation, have put downward pressure on paraxylene prices in the region.
Weak demand in downstream markets for the production of purified terephthalic acid (TFA) and polyester further weakened consumer sentiment in the para-xylene sector.
Crude Oil Prices Trend
The contract price of monoethylene glycol (MEG) in Europe for December deliveries was agreed at EUR825 per ton, which is EUR100 per ton below November contract prices, ICIS was informed by two buyers and sellers.
The buyer said that the reduction in MEG prices was due to a wide supply of material in Europe and a decrease in prices in Asia. The contract price was agreed on the terms of FD NWE (with delivery to Northeast Europe).
Co-organized by AINIA and AIMPLAS, the IV edition of this technology event of the plastics sector will take place on 29 and 30 May 2019.
By 2030, all plastic packaging placed on the EU market should be reusable or recyclable. The achievement of this objective gives rise to an unprecedented time of changes and a boost of technological innovation in the packaging, retail and consumer goods’ sectors.
The commitment to the circular economy, based on the principles of reducing, reusing and recycling, is a challenge for sustainability and waste management. In this sense, solutions are expected to find new materials for lasting reusable packages that allow a high-quality recycling but also safe and that make life easier.
The second edition of the global textile technology and engineering show, GTTES 2019, will be held from January 18-20, 2019, in Mumbai. GTTES 2019, organised by India ITME Society, is ready to start a new successful business year with new optimism, opportunities, and prospects for the textile industry with more than 400 exhibitors from around 48 countries.
GTTES has grown in size and numbers and has achieved 26 per cent growth rate attracting about 168 companies as first time participants who have never participated in any ITME events. This is a remarkable response to the second edition of GTTES, indicating that this event has achieved its place as a reliable international business platform for both domestic and overseas companies. It is very attractive for start-ups and small, medium companies from non-metro cities due to its low cost participation charges and focused exhibit chapters, according to a press release on the event.
Ghana used to boast of a textile industry that employed around 30,000 people but now the industry has seen lots of downturn and currently it employs around 5000 (Image Credit: Wikipedia)
The local textile industry based in Ghana has got a boost following the government’s decision to zero-rate Value-Added Tax (VAT) on the supply of locally manufactured textiles for a period of three years. This move is adopted to shorten their cost build up, make the local textile industry price-competitive and assist them in competing for the influx of cheap textile products from other parts of the planet.
Plastic bottles and other plastics lie washed up on the north bank of the River Thames in London. (AP Photo/Matt Dunham, File)
The only factory in Israel that processed recycled plastic bottles has closed down. The Aviv factory in the Naot Haviv Industrial Zone near Be’er Sheva was the destination for all plastic bottles that were collected in recycling bins throughout Israel. With the closure of the factory, the bottles will be exported to recycling centers abroad. Most of the firm’s 70 workers were sent home.
Last year, it was reported that the factory was facing financial problems, and as a result cut down on its activities. The owners attempted to cut costs, as well as applying for subsidies from various government agencies, but the efforts did not work out.
Hoping to drive oil prices back up to $80 per barrel, Saudi Arabia is preparing deeper production cuts this month.
Saudi Arabia plans on lowering oil exports to 7.1 million barrels per day by the end of the month, according to the Wall Street Journal. The Saudi budget does not breakeven unless Brent crude prices average in the mid-$80s per barrel, vastly higher than today’s spot price. The WSJ reports that Saudi Arabia plans on cutting exports 800,000 bpd below November levels, which appears to be a larger reduction than required as part of the OPEC+ agreement.
The news helped push up crude oil prices on Monday. “The market has jumped all over that,” John Kilduff, founding partner at energy hedge fund Again Capital, told CNBC.
It’s 2019 and people are throwing “sustainability” around like we are playing a game of catch. With sound slogans and aesthetically pleasing products, it’s no wonder the term has evolved into a buzzword. I can’t count the number of times I have heard someone recycling, only to receive the adorational response, “Oh, that’s so good of you,” as if the recycler has just solved climate change.
Now, this is not to say that identifying as “sustainable” is a bad thing. In many ways, recycling and commending your friends for doing so is a really good thing. But my concern is, how many people are being sustainable just to sound trendy? Or even more so, how many people actually care about maintaining and even reducing the overall means of production?
U.S. crude oil prices hit the lowest in 18 months in the last week of 2018, having slumped by nearly 40 percent from four-year highs hit in early October.
In the first week of 2019, oil prices jumped, supported by rising equity markets, signs of a possible U.S.-China trade war thaw, and signs that OPEC and its largest producer Saudi Arabia are slashing oil production, possibly by more than they had pledged in early December.
Some analysts now believe that oil prices, WTI in particular, may be primed for a new rally, due to technical indicators and to the supply and demand picture going forward.
Competition to import ethylene and ethylene derivates into China will likely become tougher this year despite the country becoming increasingly self-sufficient.
Reports Wood Mackenzie, China is currently around 55 per cent self-sufficient in the ethylene value chain and continues to be the largest importing country in the world for ethylene, polyethylene, ethylene glycol, and other ethylene derivatives.
However, China will begin to measurably increase its self-sufficiency in the ethylene value chain through more domestic capacity in this sector beyond the traditionally state-controlled companies of Sinopec, Petrochina, and CNOOC by encouraging further private Chinese and Western investments. The majority of new refinery/paraxylene projects will be implemented by private Chinese companies.
Vietnam’s textile and garment industry has become increasingly appealing to large foreign investors who want to seize opportunities with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) getting effective in January, analysts say. Many German and US companies manufacturing garment items are expanding their presence in the country.
The Vietnam Textile and Apparel Association (VITAS) welcomed many foreign textile and garment producers visiting Vietnam to explore investment opportunities in 2018, said VITAS vice president Truong Van Cam. VITAS is hopeful of more foreign direct investment (FDI) projects to arrive in the coming years.
Headquartered in Puerto Real, Cadiz, Pipespain has a strong presence in Spain and Portugal.Strongwell, a leading pultruder of fibre reinforced polymer composites based in the US, has announced an agreement with Pipespain S.L., from Spain, for the distribution of Strongwell’s Extren fibreglass structural shapes and plate, Safrail fibreglass handrail systems, and Duradek and Duragrid Phenolic pultruded fiberglass gratings, in the countries of Spain and Portugal.
Headquartered in Puerto Real, Cadiz, Pipespain has a strong presence in Spain and Portugal, where it services the marine, offshore, oil and gas, and chemical/industrial markets. Pipespain designs, prefabricates, installs, and offers field technical assistance on piping, structural reinforcement systems, and related support and access systems, based on composite materials.
Enterprises of the Uztextileprom association will take part in the international exhibition of home textiles, Heimtextil 2019, on Jan. 8-10 in Frankfurt, Germany, Trend reports citing Uzbek media.
A delegation of Uzbekistan, consisting of representatives of the Uztextileprom association and a number of manufacturing companies, will present the export and investment opportunities of the textile industry of Uzbekistan at the exhibition.
Many people around the world start their mornings by drinking a glass of orange juice. What these vitamin C drinkers might not know is that their ability to enjoy this tangy beverage stems from a victory within a complicated field of intellectual property law: the area of patenting biotechnology.
In 1873, microbiologist Louis Pasteur patented a new yeast-making method at the French Patent Office. Today, we know this process as pasteurization, and most commercial orange juice companies use his patented biotechnology to bring orange juice to the breakfast tables of hundreds of thousands of families.