Polymers PET Petrochemicals Bioplastics 15-01-2019 - Arhive
-China – Polyethylene Terephthalate
PET and its chain are assessed mixed.
PET Bottle grade export 1,000/1,045 $/ton – PET Bottle grade domestic market 7,950/8,100 yuan/ton – PET Filament grade SD domestic market 7,600/7,700 yuan/ton – PET Filament grade BR domestic market 7,550/7,650 yuan/ton
PTA Taiwan 815/825 $/ton – PTA domestic market 6,250/6,350 yuan/ton – MEG $ 620/635 $/ton – MEG domestic market 5,100/5,250 yuan/ton – PX Korea 1,045/1055 $/ton
POY 150D/48F domestic market 8,000/8,150 yuan/ton – DTY 150D/48F domestic market 10,000/10,100 yuan/ton – PSF domestic market 8,800/8,900 yuan/ton
Brexit: Theresa May faces ‘meaningful vote’ on her deal
MPs are preparing to vote on whether to back Theresa May’s deal for leaving the European Union.
The so-called “meaningful vote” will take place later as five days of debate on Brexit come to an end.
Mrs May has called for politicians to back her deal or risk “letting the British people down”.
But with many of her own MPs expected to join opposition parties to vote against the deal, it is widely expected to be defeated.
Versalis halts cracking plant in Priolo due to fire
The company Versalis, a petrochemical division of the Italian Eni SpA, on January 10 stopped a cracking installation in Priolo (Priolo) in Sicily for repairs due to fire, ICIS reports, citing a source close to the Italian company.
According to the source, a fire on one of the furnaces in the second half of the day on January 10 led to the shutdown of the cracking unit with a capacity of 490 thousand tons of ethylene and 250 thousand tons of propylene per year. The cause of the fire is currently being investigated.
Crude Oil Prices Trend
KraussMaffei supports academic research in injection moulding
KraussMaffei has shown its support for the Engineering Design and Plastics Machinery Department at the University of Duisburg-Essen by providing a new injection moulding machine from the all-electric PX series.
The PX 120-380 features complete digital equipment including the DataXplorer, and the collaboration aims to result in a shared goal of new systems and applications developments, alongside acquired data use as a basis for quality and sustainability.
Packaging industry pushes for sustainability
Companies are now looking into elevating packaging to a tool for a sustainable environment.
This was stated by Dennis Jocson, president of Packaging Institute of the Philippines, at a roadshow for Propak Philippines, one of the biggest processing and packaging trade shows in the world.
The trade show is scheduled on Jan. 24 to 26 at the World Trade Center Manila in Pasay City.
“Packaging is not inherently sustainable, but used packaging material that has served its primary purpose as a container is not necessarily an environmental waste. There are now modern ways to manufacture packaging products that support sustainability,” said Jocson.
Two big producers just called a bottom for oil: $60/bbl
Italy’s top oil producer and Oman’s energy minister predict the latest oil rebound will stick.
Prices are up more than 20% since hitting an almost two-year low in December, enough to alter OPEC+ rhetoric from reassuring investors that it will cut output to taking credit for the rebound, and in the case of Oman, forecasting where oil will trade for the year.
Oman Oil Minister Mohammed Al-Rumhi told Bloomberg TV that the agreement between the Organization of Petroleum Exporting Countries and partners including Russia and Oman can sustain prices at $60/bbl.
He sees crude trading between that bottom and $70/bbl this year. Claudio Descalzi, the CEO of Italy’s Eni SpA, told Bloomberg TV the range will be between $60 and $62 a barrel.
Coca-Cola Amatil Australia switches to recyclable paper straws
Coca-Cola Amatil Australia has announced that it will distribute biodegradable Forest Stewardship Council (FSC) accredited recyclable paper straws, ending its distribution of single-use plastic straws and stirrers.
Coca-Cola Amatil, Coca-Cola’s bottler and distributor for Asia Pacific, said it plans to stop the distribution of the single-use plastic straws and stirrers over the next two months as stocks deplete. It aims to continue developing sustainable solutions for straws on Tetra Pak-supplied packaging, plastic spoons and frozen drink scoops.
EMEA petrochemicals outlook, w/c Jan 14
S&P Global Platts will present a webinar on the European olefins markets on Tuesday, January 15 from 1400 to 1500 GMT.
OLEFINS
Despite several production issues in Europe, the propylene market will remain balanced this week, with some pockets of length remaining on the coast. Polypropylene market participants will continue to discuss January contract prices this week, which are expected to track only partially the drop seen in the propylene January contract price. The European butadiene market continues to closely watch prices in Asia, with recent price rises in China leading to expectations of continuing export opportunities. Nevertheless, with Chinese New Year approaching, some market participants are uncertain whether this will last. No changes are expected this week in the ethylene market, with a high level of supply set to continue at least for the short term.
US crude drops 2.1%, settling at $50.51, pressured by bearish China data
Brent crude oil falls to about $60 a barrel as China reports slump in import-export data.
OPEC-led supply cuts provide some support.
Saudi energy minister says no need for early OPEC meeting.
Brent crude oil slipped to around $60 a barrel on Monday after data showed weakening imports and exports in China, the world’s second-largest oil consumer, raising the prospect of a slowdown in fuel demand.
China’s exports fell by the most in two years in December while imports contracted, official figures showed, pointing to further weakness in what is also the world’s second-largest economy.
Asia petrochemicals outlook, w/c Jan 14
In the week ahead, fundamentals are mixed in the Asia petrochemical sector with the olefins markets expecting a slight rally as buyers return to replenish inventory ahead of the Chinese New Year holidays.
Meanwhile, in the aromatics market, stronger naphtha prices is expected to help boost aromatics prices while the polymers markets turn bearish as trading activity winds down ahead of the lunar new year.
AROMATICS
MTBE:
Asian MTBE extended day on day gains last week, with the FOB Singapore marker rising from its close at $579/mt on January 7 to $596/mt on January 11. The MTBE factor, which measures the ratio between the daily assessments for FOB Singapore MTBE and Mean of Platts Singapore 92 RON gasoline fell from 1.143 to 1.140 over the same period, tracking weaker upstream gasoline fundamentals.
Iran expected to be able to export 1.5 mn oil bpd next year
While the lawmakers in the Iranian Parliament are discussing the budget bill offered by the Iranian government for the next fiscal Iranian year of 1398, the Iranian Parliament Research Center (IPRC) said that total sources of income in the energy sector including crude oil and gas condensate, net exports of natural gas and domestic gas condensate sales are estimated at $ 36.470 billion in the budget bill for the next fiscal year.
The total value of crude oil exports and domestic sales of gas condensates are estimated at $ 30.49 billion and $ 2.5 billion, respectively, totaling $ 33 .2 billion.
Investment: Fashion companies should innovate to reduce plastic pollution
When Adidas teamed up with Parley for the Oceans last year, launching a collection of trainers and clothing made from recycled ocean plastic, both the fashion industry and government took notice.
This month the UK government launched a new investment for businesses to tackle the ocean plastics crisis, making 6 minion pounds available in grants and private investment.
There is a market for ethical fashion
Many studies have shown shoppers will consider buying ecological or sustainable apparel as long characteristics such fit cost and styling are also considered. there is a niche for producing quality stylish good price with leading ready-to-wear fashion companies taking action about sustainability publishing their corporate responsibility.
Textechno Enhances its Composite Testing Technology with AZL Partnership
Textechno is pleased to announce its partnership with the AZL, Aachen Centre for Integrative Lightweight Production.
Textechno will be working in close cooperation with the AZL and their partners to drive innovation in composite testing and to further advance excellence in lightweight production. Textechno is especially looking forward to closer contact and networking activities with polymer producers and multinationals, such as carbon or glass fibre producers or resin manufacturers.
Textechno’s Managing Director Dr. Ulrich Mörschel says, “The precise knowledge of key material parameters is the fundamental basis of the production of high-quality composite products. With its innovative composite testing instruments, Textechno supports its customers to be more successful. Our partnership with the AZL will further help us to contribute to the advances of the composite industry.”
Life in Bioplastic, it’s More Fantastic
Plastic is the staple material of modern life, and a sustainable future will need bioplastics. What is biotech doing to make this happen?
“What do you include in bioplastics? Because bioplastics is a very large word,” commented Emmanuel Maille, formerly Director of Strategy and Development at French chemical company Carbios, which focuses on developing biobased and biodegradable plastics. It’s a large word indeed. Bioplastics can be ‘bio’ in different ways: they can be biodegradable, they can be made of biological materials (like corn or lactic acid), or they can be produced through fermentation. We asked Maille, and other experts, to help us break it down.
Despite all the exciting research and breakthroughs in the field, the market for bioplastics remains small. The worldwide production of plastic now exceeds 300 million tons. However, this figure is rapidly increasing and estimates predict it could more than double by 2030 if nothing is done to prevent this.
China PE may turn stable to soft ahead of Lunar New Year
China’s spot polyethylene(PE) prices recently rebounded in response tothe government’s economic stimulus and tightersupply due to unexpected plant turnarounds, butthe market may turn stable to soft ahead of theLunar New Year holidays.
– Government economic measuresspur demand
– Supply decrease from someunexpected plants turnarounds
– Pre-holiday demand to slowdown
On 11 January, linear low density polyethylene(LLDPE) prices in south China increased byChinese yuan (CNY) 100/tonne ($15/tonne) weekon week to CNY9,150/tonne EXWH (ex-warehouse),according to ICIS data.
Low density polyethylene (LDPE) prices in southChina increased by CNY250/tonne over the sameperiod to CNY9,000/tonne EXWH (ex-warehouse),the data showed.
