MOSCOW (MRC) -- Binh Son Refinery and Petrochemical has restarted the polypropylene (PP) plant at the beginning of October 2020 following a major maintenance shutdown, reported CommoPlast with reference to market sources.
The 150,000 tons/year unit was taken off-stream on 12 August as the producer conducts overhaul at the upstream units.
As MRC wrote before, Binh Son Refining and Petrochemical took off-stream its PP plant in Vietnam for a maintenance turnaround in June 2017 for a period of around 7 weeks. The exact date shutdown could not be ascertained. Located in Vietnam,the plant has a production capacity of 150,000 mt/year.
According to MRC's ScanPlast report, overall PP production in Russia increased in January-July 2020 by 24% year on year to 1,063,700 tonne. ZapSibNeftekhim accounted for the main increase in the output.
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1. ExxonMobil to cut 1,600 jobs across Europe as oil rout weighs
MOSCOW (MRC) -- US oil giant ExxonMobil announced it plans to reduce its European workforce by up to 1,600 across the company"s affiliates by the end of 2021 as part of its global review, reported Reuters. Exxon said country-specific cuts will depend on the oil major"s local business footprint and market conditions, after the COVID-19 pandemic hammered demand for its products and crude prices tanked. Oil majors are axing jobs, lowering spending and curbing dividends in order to save cash amid a dismal outlook over energy prices which are expected to remain lackluster for years.
MRC
MOSCOW (MRC) -- Trinseo, a global materials company and manufacturer of plastics, latex binders and synthetic rubber, and its affiliate companies in Europe have announced a price increase for all polycarbonate (PC) grades in Europe, as per the company's press release.
Effective October 1, 2020, or as existing contract terms allow, the contract and spot prices for the products listed below increased as follows:
- CALIBRE PC resins - by EUR300 per metric ton.
As MRC informed earlier, Trinseo last raised its prices for all PC grades in Europe on 1 September 2020 by EUR200 per metric ton.
According to ICIS-MRC Price report, demand for PC in the Russian market has been recovering. Domestic PC prices increased in September. The rise in prices will continue in the domestic market this month.
Trinseo is a global materials company and manufacturer of plastics, latex and rubber. Trinseo's technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Formerly known as Styron, Trinseo completed its renaming process in 1Q 2015. Trinseo had approximately USD3.8 billion in net sales in 2019, with 17 manufacturing sites around the world, and approximately 2,700 employees.
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MOSCOW (MRC) -- Celanese (Dallas, Texas) is to increase its prices by up to 5% worldwide for all acetate tow product grades, saying the rise is to help secure the sustainability of the business segment, reported Chemweek with reference to the company's statement.
The price hike is effective for orders shipped on or after 1 January 2021 or as contracts otherwise allow.
“To aid in securing sustainability of the Celanese acetate tow business, it is paramount that we increase prices and offset declines,” says Marcel van Amerongen, vice president/acetate tow at Celanese. The company is committed to its acetate tow business “as we continue to invest in manufacturing assets, innovation, and service,” he says. This is being done to position Celanese as the strategic partner of choice for its customers, he adds.
In July the company’s acetate tow segment reported sales of USD127 million in the second quarter of this year, down 23% year on year (YOY) from USD164 million. Adjusted EBIT was USD64 million, down 10% YOY from USD71 million.
Last year it also said it had taken steps to strengthen its competitive position in the acetate tow market by lowering raw materials cost, reducing fixed costs, and aligning with anticipated industry demand trends, such as optimizing production across all acetate tow manufacturing locations, as well as investing in manufacturing operations.
Acetate tow is used mainly in the manufacturing of cigarette filters, as well as for insulation, packaging, and nonwovens applications.
As MRC informed earlier, Celanese Corporation has announced an increase in its September prices of vinyl acetate-based emulsions sold in the Americas. The price increases below are effective for orders shipped on or after 15 September 2020, or as contracts otherwise allow, and are incremental to any previously announced increases. Thus, prices of EVA emulsions rose, as follows:
- by USD0.03/lb - for the USA and Canada;
- by USD66/mt - for Mexico & South America.
According to MRC's DataScope report, June EVA imports to Russia fell by 22,5% year on year to 2,940 tonnes from 3,800 tonnes a year earlier, and overall imports of this grade of ethylene copolymer into the Russian Federation dropped in January-June 2020 by 8,16% year on year to 17,440 tonnes (18,980 tonnes a year earlier).
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2019 net sales of USD6.3 billion.
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