Polymers Petrochemicals PET Preforms 31-05-2019
- China – Polyethylene Terephthalate
- PET and its chain show again a downward trend (except for MEG)
- Crude oil is losing dramatically ground.
- Polyamide 6 and its chain continue to show a moderateweakness.
PET Bottle grade export 890/945 $/ton – PET Bottle grade domestic market 7,200/7,300 yuan/ton – PET Filament grade SD domestic market 6,550/6,650 yuan/ton – PET Filament grade BR domestic market 6,600/6,700 yuan/ton
- Polyamide 6 and its chain continue to show a moderate
- PTA Taiwan 780/790 $/ton – PTA domestic market 5,590/5,650 yuan/ton – MEG 535/545 $/ton – MEG domestic market 4,300/4,400 yuan/ton – PX Korea 855/865 $/ton
- Polyester POY 150D/48F domestic market 7,500/7,600 yuan/ton – Polyester DTY 150D/48F domestic market 9,150/9,250 yuan/ton – Polyester Staple PSF domestic market 7,450/7,550 yuan/ton
China China Petroleum & Chemical Corp. (Sinopec), Asia’s largest oil refining company, lowered the May contract prices of monoethylene glycol (MEG) in eastern China by 350 yuan (CNY) or USD50.7 per tonne compared to April this year.
Thus, the May contract prices of MEG companies in the region are set at CNY4,530 or USD656 per ton.
The quotations of MEG in China dropped last week following the decline in commodity prices and amid the tense situation during the US-China trade war.
Jiangsu Sailboat Petrochemical, a major producer of petrochemical products in China, raised its weekly prices for acrylonitrile (ACN) in the country by 400 yuan (CNY) or USD58 per tonne on May 22 .
Thus, now the May prices of ACN companies are at the level of CNY15,000 or USD2,174 per ton.
This is the second time the company has raised the prices of the DCA last week, the first time the increase was announced on May 20 and also made a similar amount.
Crude Oil Prices Trend Polymers Petrochemicals PET Preforms
MEG prices in Asia gained on Wednesday. Although actual user demand was not robust owing to weak cues from the upstream ethylene markets, sellers still transacted at their up adjusted target prices citing ‘short covering’ buying interest in the markets.
CFR China prices of MEG were assessed up at the USD 540/mt levels, a rise of USD 10/mt from Wednesday’s assessed levels.
Viridor parent company, Pennon Group, has announced a new project that will use electricity created from non-recyclable waste to power a new £65 million plastic recycling plant.
The electricity generated from the waste to power the new plant will come from its £252 million energy recovery facility at Avonmouth near Bristol.
This new plastics recycling plant will be powered by energy which uses non-recyclable waste as its fuel, creating a “true circular economy energy park”.
Stoll is set to present latest innovations in the fields of fashion and technology, technical textiles, and knit wear at ITMA 2019 expo, in hall H 8.0, stand D201. The leading textile and garment technology exhibition will be held from June 20-26, 2019, in Barcelona, Spain. Stoll is a leading manufacturer of flat knitting machines headquartered in Germany.
For the first time, Stoll will present the new knitelligence machine generation at this exhibition. The company will also present a production process thanks to knitelligence and Stoll-knitrobotic. The new knitelligence machine generation takes you into the future of digitisation. Polymers Petrochemicals PET Preforms
Mouvent will unveil its new textile machine – the TX802 – for the very first time at ITMA 2019, the world’s largest international textile and garment technology exhibition, which will take place in Barcelona, Spain, from June 20-26, 2019. There will be 6 official live demonstrations each day of the TX802 at Stand H3/C10. On demand demos will also be given. Polymers Petrochemicals PET Preforms
The new TX802 builds on the success of Mouvent’s popular inaugural digital textile printer, the TX801. TX802 is a 8-colour multi-pass digital textile printer producing the highest print quality on textiles with up to 2,000 DPI optical resolution, and is associated with very high printing speeds of up to 100 linear m/min.
The U.S. government is using the power of the federal purse to help boost recycling infrastructure in Asia.
The U.S. Agency for International Development (USAID) will provide up to $35 million to help incentivize private industry to put its money into boosting recycling in south and southeast Asia. The agency will back investments directed by Circulate Capital, with the goal of boosting recycling in developing, coastal economies to reduce ocean plastics generation.
The arrangement is set up as a 50% loan-portfolio guarantee.
Viridor’s parent company is claiming an industry first after revealing plans to power its latest plastics recycling plant with non-recyclable waste.
Pennon Group plans to use energy produced at its £252m energy-from-waste (EfW) facility in Avonmouth, near Bristol, to power a co-located £65m plastics recycling facility. Pennon said the facility will be the UK’s biggest multi-polymer plant, taking PET, HDPE and PP.
In year one it will produce 60,000 tonnes a year of flake and pellet from 81,000 tonnes of feedstock. This will rise to 63,000 tonnes a year produced from 89,000 tonnes in year three.
Asia’s spot base oils market will expect demand to whittle down as bearish sentiment deepens over lack of price direction amid falling crude futures.
Base oils prices are likely to come under downward pressure as buyers are expected to be sidelined at a time of crude volatility.
Brent crude futures plummeted by more than 4% on 22-23 May, following a large increase in US crude stocks and concerns over the escalated US-China trade war.
Brent values subsequently recovered slightly to around $70/bbl and continued to hover at this level last week. On 29 May, Brent July settled down 66 cents to $69.45/bbl.
The UK’s chemicals-intensive car production fell in April 44.5% on the back of Brexit-induced manufacturing facilities shutdowns during the month, the country’s trade group for the automobile industry said on Thursday.
In April, the UK produced nearly 71,000 cars, sharply down from the 128,000 produced in the same month of 2018.
According to the Society of Motor Manufacturers and Traders (SMMT), performance in the industry year to date still shows an “underlying downward trend” and April was the 11th consecutive month of decline.
Downward pressure may persist in US butadiene (BD) markets amid continued sluggish demand, tracking a global trend.
The ICIS Contract Reference Price (CRP) for US June BD settled at 46 cents/lb ($1,014/tonne) FOB (free on board), down by 3.25 cents/lb from May.
US BD Contracts (in cents/lb, separately issued)
The oil industry is watching the progress of a Chinese tanker that is loaded with Iranian crude, potentially in violation of U.S. sanctions.
Two websites that tracks oil vessels, documented the first departure of a supertanker carrying crude oil out of Iran since the Trump administration ended oil waivers earlier this month.
The U.S. State Department warns the U.S. government will enforce its sanctions on Iranian oil.
As trade tensions rise between the U.S. and China, the oil market is watching the progress of a Chinese ship loaded with Iranian crude to see whether it heads home with its cargo — in possible violation of U.S. sanctions.