China and US agree to roll back existing tariffs in phases

MOSCOW (MRC) -- After weeks of high-level discussions, the US and China have agreed to simultaneously lift existing trade tariffs on each other’s goods in phases, reported NCT with reference to the Chinese local media.

Chinese media reported that a spokesperson from China’s Ministry of Commerce the leaders of both counties have resolved their core concerns in the past two weeks through constructive discussions.

Quoting the ministry spokesperson, the report said the most important condition for the first phase of the trade agreement was that the both countries must remove the same amount of charges simultaneously.

However, a timeline was not provided at the time of publication.

The US and China, the world’s two biggest economies, have been embroiled in a tit-for-tat tariff war since the start of 2018.
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MOSCOW (MRC) -- Air Liquide acquired Malaysia's Southern Industrial Gases for an undisclosed sum, said Bloomberg.

The acquisition doubles Air Liquide’s packaged gases filling capacity in Malaysia, and it is expected to deliver significant synergies by enlarging its footprint there, it said.

Southern Industrial Gases has eight manufacturing and refilling facilities locations across Malaysia and employs about 200 people. It has annual sales of about EUR20m.

As MRC informed earlier, Air Liquide signs new long term contract with Kazakhstan Petrochemical Industries (KPI) to build, own and operate a new nitrogen unit in the growing chemical basin of Karabatan, close to the Atyrau refinery.

As MRC informed earlier, Air Liquide in 2018 signed a new long-term agreement with LyondellBasell, one of the world’s largest plastics, chemicals and refining companies, to supply oxygen to LyondellBasell’s new large-scale petrochemical plant which will be constructed in Channelview, Texas. LyondellBasell’s new propylene oxide/tertiary butyl alcohol plant (PO/TBA), is expected to be the largest of its kind plant in the world when completed.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,436,390 tonnes in the first eight months of 2019, up by 9% year on year. Shipments of all PE grades increased. At the same time, the PP consumption in the Russian market was 909,260 tonnes in January-August 2019, up by 10% year on year. Shipments of PP block copolymer and homopolymer PP increased.

Air Liquide began operating in Malaysia in 1927. Its presence in the country now includes all industrial gas activities, a Smart Innovative Operations Centre as well as shared services which serve Asia and the Pacific Regions. In 2016, Air Liquide Malaysia reinforced its position in the industrial merchant business with the acquisition of a distributor located in the Kuala Lumpur region. The acquisition which was finalised recently placed Air Liquide in an even stronger position to serve its customers in the country.
MRC

MOSCOW (MRC) -- INEOS Oxide (League City, Texas) has declared force majeure on all grades of mono-, di-, and triethanolamine, and for Alkanolamine 5503 (polyethanolamine), effective 3 November 2019, reported Chemweek.

According to a letter sent to customers on 6 November, supply of feedstock ethylene oxide (EO) to the company’s manufacturing site at Plaquemine, Louisiana, has been interrupted by "an industrial event affecting its supplier," which appears to be Dow.

INEOS has 159,000 metric tons/year of ethanolamines capacity at Plaquemine. The company also has 57,000 metric tons/year of ethanolamines capacity in Lavera, France.

INEOS says the outage began on 3 November, the same day Dow reported that an explosion had burst a vessel containing water and small volumes of sulfuric acid and ethylene oxide at its Glycol 2 plant at Plaquemine. Dow’s Glycol 2 plant includes 206,000 metric tons/year of ethylene oxide capacity, a small portion of which the company consumes internally, according to data from IHS Markit. Dow on 3 November said the plant was in "recovery mode."

Ethylene is a feedstock for producing polyethylene (PE).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,589,580 tonnes in the first nine months of 2019, up by 7% year on year. Shipments of all PE grades increased.
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MOSCOW (MRC) -- Sinopec Guangzhou Petrochemical, part of China's petrochemical giant - Sinopec, is expected to bring on-line its new PP unit after maintenance in the first week of November, reported CommoPlast with reference to market sources.

Based in Guangzhou, China, this unit's production capacity is 200,000 tons/year. The company also operates an old No. 1 PP line at the site with a production capacity of 140,000 tons/year.

Both units were shut down for a turnaround on 9 October 2019.

Meanwhile, its 60,000 tons/year old No. 2 PP line is still running regularly at the moment.

According to MRC's ScanPlast report, the estimated PP consumption in the Russian market was 976,790 tonnes in January-September 2019, up by 4% year on year. Shipments of PP block copolymer and homopolymer PP increased.

China Petroleum & Chemical Corporation or Sinopec Limited is a Chinese oil and gas company based in Beijing, China. Sinopec's business includes oil and gas exploration, refining, and marketing; production and sales of petrochemicals, chemical fibers, chemical fertilizers, and other chemical products; storage and pipeline transportation of crude oil and natural gas; import, export and import/export agency business of crude oil, natural gas, refined oil products, petrochemicals, and other chemicals.
MRC

MOSCOW (MRC) -- Sinopec Guangzhou Petrochemical, part of China's petrochemical giant - Sinopec, plans to restart operations at its cracker in early December, 2019, as per Apic-online.

A Polymerupdate source in China informed that the company started maintenance at the plant on October 12, 2019.

Located in the Guangzhou province of China, the cracker has ethylene production capacity of 260,000 mt/year and propylene production capacity of 150,000 mt/year.

As MRC reported before, Sinopec Guangzhou Petrochemical, part of China's petrochemical giant - Sinopec, is expected to bring on-line its No. 1 PP unit after maintenance in the first week of November. Based in Guangzhou, China, this unit's production capacity is 140,000 tons/year. This is the old PP line. The company also operates a new No. 2 PP line at the site with a production capacity of 200,000 tons/year. Both units were shut down for a turnaround on 9 October 2019. Meanwhile, its 60,000 tons/year old PP line 2 is still running regularly at the moment.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polyprolypele (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,589,580 tonnes in the first nine months of 2019, up by 7% year on year. Shipments of all PE grades increased. The estimated PP consumption in the Russian market was 976,790 tonnes in January-September 2019, up by 4% year on year. Shipments of PP block copolymer and homopolymer PP increased.

China Petroleum & Chemical Corporation or Sinopec Limited is a Chinese oil and gas company based in Beijing, China. Sinopec's business includes oil and gas exploration, refining, and marketing; production and sales of petrochemicals, chemical fibers, chemical fertilizers, and other chemical products; storage and pipeline transportation of crude oil and natural gas; import, export and import/export agency business of crude oil, natural gas, refined oil products, petrochemicals, and other chemicals.
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