Polynt hikes composite prices on rising raw material costs, logistics

MOSCOW (MRC) -- Polynt-Reichhold, an Intalian petrochemical producer, says it has increased prices in Europe by EUR80/metric ton (USD93/metric ton) for all its composite products range due to rising raw material and logistical costs, effective as of 1 November or as agreements allow, according to Chemweek.

The price hike covers the company’s complete line of unsaturated polyester resins, vinyl esters, and gelcoats in Europe, the Middle East, and Africa, it says.

The higher raw material costs are due to limited availability, it adds. Polynt-Reichhold’s composites business develops and produces thermoset products and derivatives.

As MRC reported previously, in early March, 2020, Polynt announced that all its sites and activities in Italy were running smoothly and according to plan, despite the news about the Italian situation related to the spreading of the coronavirus in the country.

Polynt runs two maleic anhydride (MA) plants in northern Italy, including Bergamo’s 36,000 tonne unit in Lombardy and Ravenna’s 60,000 tonne plant on the east coast. The bigger production line at Ravenna had been operating at a reduced rate since March 2019 due to technical issues, the firm previously said. A new reactor ordered is expected to be operational in 2021. Polynt also produces phthalic anhydride at Bergamo and its San Giovanni Valdarno site, as well as plasticizers at San Giovanni Valdarno.

Maleic anhydride is a feedstock for the production of tetrahydrofuran, tetrahydrophthalic anhydride, films and synthetic fibers, pharmaceuticals, detergents, plasticizers, maleic, succinic, fumaric and malic acids and a number of chemicals for agriculture.

Plasticizers are substances introduced into a polymeric material to give it elasticity and plasticity during processing and operation. In particular, plasticizers are used to produce polyvinyl chloride (PVC). The share of plasticizers used for the production of PVC products is about 80%.

According to MRC's ScanPlast report, Russia's overall PVC production totalled 718,500 tonnes in January-September 2020, down by 0.3% year on year. At the same time, only two producers managed to increase their PVC output.
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MOSCOW (MRC) -- Duqm Refinery and Petrochemical Industries Company (DRPIC) has announced the suspension of the Front-End Engineering Design (FEED) work for its proposed Duqm Petrochemical Project (DPP), reported Oman News Agency (ONA).

The company seeks to assess the impact of COVID-19 on its future works.

The statement issued by the company said that DRPIC Board of Directors concluded that the suspension of FEED work of the project is in the interest of the company during a time of unprecedented global economic uncertainty due to the impact of the COVID-19 pandemic, depressed demand, and highly volatile commodity prices.

The shareholders intend to reassess the project, taking into account the current challenging global market environment and the importance of seeking opportunities to enhance the value of the project.

The DPP constitutes the second phase of the integrated refineries and petrochemicals project, which the company plans to implement in the Special Economic Zone of Duqm, as part of the existing strategic partnership between OQ and Kuwait Petroleum International.

The statement emphasized that the construction work on Duqm Refinery continues according to the planned schedule, and the current overall progress stands at 72 per cent.

As MRC informed before, in late September 2020, Lummus Technology, LLC (Houston) announced that it had been awarded a contract for technology licensing, process design package, training and advisory services, and proprietary catalyst and equipment supply by DRPIC, a joint venture between OQ S.A.O.C (OQ) and Kuwait Petroleum Europe B.V. The contract is for the planned new petrochemical complex in Oman with multiple units, including the largest natural gas to liquids unit licensed by Lummus to Oman Oil Facilities Development Company LLC a wholly owned subsidiary of OQ with a capacity of 48 MMSCMD, one of the world’s largest ethylene units with 1,600,000 metric tons per year (m.t./yr) ethylene capacity, a butadiene extraction unit with 161,000 m.t./yr butadiene capacity, and a CDMtbe unit (145,000 m.t./yr of MTBE) and 1-Butene separation (51,000 m.t./yr of 1-butene capacity) licensed to DRPIC.

The units are part of the Duqm Petrochemicals Project, which is the second stage of DRPIC’s integrated refinery and petrochemical complex, and will be located at Duqm on the Arabian Sea coast of Oman, approximately 600 km south of Muscat. Other technology licensors on the Duqm Refinery project include OQ Chemicals and LyondellBasell.

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

According to MRC"s ScanPlast report, Russia"s estimated PE consumption totalled 1,594,510 tonnes in the first nine months of 2020, up by 1% year on year. Only high denstiy polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market reached 880,130 tonnes in the nine months of 2020 (calculated using the formula: production minus exports plus imports, exluding producers" inventories as of 1 January, 2020). Supply increased exclusively of PP random copolymer.
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MOSCOW (MRC) -- With an end goal of keeping polystyrene products out of landfills through an innovative circular recycling process, AmSty is announcing its commitment that all products designed for foodservice and food packaging applications will contain 25 percent recycled content by 2030, said Wfmj.

The leading integrated producer of polystyrene and styrene monomer continues to reach milestones toward this goal with its circular recycling process operating commercially at Regenyx LLC, its joint venture with Agilyx Corporation.

Regenyx is achieving this circular recycling breakthrough using technology that breaks down polystyrene products to their original molecular form. The resulting styrene monomer is then used to create the exact same products again, with original quality and function. Since start-up, Regenyx has converted more than one million pounds of used polystyrene to all-new materials. That’s equivalent to keeping 37.5 million foam cups or 32.5 million takeout containers out of the landfill.

Soon, circular recycling will become a reality on a much larger scale. AmSty has partnered with Ineos Styrolution to construct a 100 ton per day facility in Channahon, Illinois. Engineering design for the facility in the greater Chicago area is under way.

“It is time for circular technology to scale up and truly make a difference in plastics becoming sustainable,” said Tim Barnette, Vice President – Polymers and Sustainability at AmSty. “Polystyrene is the only plastic resin material that can be converted back to a liquid monomer, making it simple to be re-formed into new, original-quality products. As disposable items are needed, they should be made from the most sustainable material available. Now, perhaps more than ever, disposable items like food packaging, take-out containers and utensils are necessary as consumers focus on personal hygiene, health, and safety. Our customers require packaging that is both safe and sustainable, and we are committed to helping achieve their goals by restoring polystyrene through circular recycling."

AmSty’s vision of keeping all polystyrene out of landfills will be a heavy lift, admits Barnette. It will require collaboration with cities and states to create?infrastructure that makes it easy for consumers to participate. Collection infrastructure must be overhauled so that mixed plastic waste can be sorted, processed and made ready for circular recycling.

“AmSty is fully committed to circular recycling of polystyrene,” said Dr. Randy Pogue, President and Chief Executive Officer at AmSty. “Our Regenyx facility has proven that sustainable long-term solutions for our products are possible. That fuels our excitement for the Channahon facility and the meaningful advancement it will bring for polystyrene as a circular recycled product. While AmSty is building important momentum with its polystyrene goals, the hope is that one day all plastics will be recycled using circular solutions."

According to ICIS-MRC Price report, October prices of Russian PS continued their upward trend. A shortage of material remained in the domestic market. Traders said Nizhnekamskneftekhim reduced its offer prices for this month's PS purchases to 40%. October prices of Nizhnekamskneftekhim's GPPS grew for the agreed with buyers quantities to Rb89,000-95,000/tonne CPT Moscow, including VAT, whereas HIPS - to Rb93,000-99,000/tonne CPT Moscow, including VAT.

AmSty is a JV between Trinseo and Chevron Phillips Chemical (CPChem).
MRC

MOSCOW (MRC) -- Dow, along with laundry brand Liby, has announced the introduction of first fully recyclable laundry packaging in China, said Nspackaging.

Liby has selected Dow’s INNATE TF Polyethylene Resins for Tenter Frame Biaxial Orientation (TF-BOPE) as its packaging for laundry pods. Dow, Liby and Fujian Kaida have worked together to manufacture fully recyclable laundry packaging for the laundry pods.

Fujian Kaida is responsible for the design and production of new recyclable packaging for Liby’s laundry pods. The INNATE TF-BOPE features all-polyethylene (PE) structure, which enables to recycle the end-product in existing recycle streams.

Dow’s sustainable product is also provided with advanced material properties to offer toughness and minimise leakage during e-commerce transportation. It also delivers advanced optics for stand-up shelf appeal and touch and feel.

Liby is already offering the first batch of fully recyclable packaging to the customers via its e-commerce flagship stores. The collaboration with Liby will enable Dow to accelerate its new sustainability target to make 100% packaging reusable or recyclable by 2035. The partnership also helps to reinforce both firms’ commitment to achieving a circular economy in China.

Dow Packaging and Specialty Plastics Asia Pacific commercial vice president Bambang Candra said: “We are delighted to partner with Liby to pioneer fully recyclable laundry packaging in China. “The country’s recent acceleration in achieving a green and sustainable environment has changed the way it tackles plastic waste, and this collaboration is a significant step in improving the recyclability and sustainability quotient in the packaging of laundry products for millions of households."

In July, Dow added TF-BOPE films to its product portfolio of INNATE precision packaging resins, which enable to create sustainable packaging for converters, brand owners and retailers.

In September this year, Dow collaborated with an integrated waste management company Luhai to increase the circularity of plastics in China.

As MRC informed earlier, Dow reported a loss of USD1 million in the third quarter as results rebounded significantly from second-quarter pandemic lows. The company reported earnings of USD347 million the same year-ago quarter and a loss of USD217 million in the second quarter.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,594,510 tonnes in the first nine months of 2020, up by 1% year on year. Only high denstiy polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market reached 880,130 tonnes in the nine months of 2020 (calculated using the formula: production minus exports plus imports, exluding producers' inventories as of 1 January, 2020). Supply increased exclusively of PP random copolymer.
MRC

MOSCOW (MRC) -- Mitsubishi Chemical Holdings reports a net loss of Yen 49.68 billion (USD474.7 million) for the company's fiscal first half ended 30 September, swinging from net income of Yen 81.3 billion a year earlier, according to Chemweek.

Mitsubishi registered a third-quarter operating loss of Yen 28.1 billion, compared with an operating profit of ?130.5 billion a year earlier. Revenue decreased 17.6% year on year (YOY) to Yen 1.5 trillion. The company says that during the first half of the fiscal year, demand was slower YOY, particularly for automotive applications, owing to the impact of the COVID-19 pandemic. Notwithstanding a recent pickup in demand, business conditions remain challenging, says Mitsubishi.

Sales decreased by 16% YOY to ?473.6 billion at Mitsubishi's performance products business. Operating income plunged 46% YOY to Yen 21.4 billion. Functional products' revenue declined because of reduced demand principally in automotive applications, despite the recent pickup in demand. Sales volumes fell for high-performance engineering plastics and other offerings for advanced moldings and composites. In performance chemicals, revenue decreased amid lower overall sales volumes to the automotive industry, including for performance polymers in the advanced polymers segment. Another downside for sales volumes was the impact of scheduled maintenance and repairs at phenol-polycarbonate chain facilities in the advanced polymers segment.

Sales decreased by 31.5% YOY to ?381 billion at the chemicals business, Mitsubishi’s largest segment. It swung to an operating loss of Yen14.6 billion from an operating profit of Yen 35.8 billion a year earlier. In the methyl methacrylate (MMA) business, revenue declined despite improving conditions in the MMA monomer and other markets. In petrochemicals, sales decreased because of a greater impact from scheduled maintenance and repairs at an ethylene plant, with selling prices down following declines in raw material costs and other factors. In carbon products, revenue was down because of lower prices in line with reduced raw material costs and a drop in sales volumes from declining demand for coke and other offerings.

Operating income at the industrial gases business was down 19.6% YOY, to Yen 35.5 billion. Sales at this division were Yen 381 billion, lower by 9% YOY. Profitability was weak amid lower domestic and overseas demand, although demand for electronics-related gases remained strong.

The company’s other units include healthcare.

Mitsubishi has downgraded its forecast for the fiscal year ending 31 March 2021. It now projects a net loss of ?34 billion, compared with a previously estimated net profit of Yen 49 billion. Sales projections have been lowered to ?3.1 trillion, versus an earlier estimate of Yen 3.3 trillion. In the first half, the company included an Yen 84.5-billion impairment loss on technology-related intangible assets in the healthcare segment.

No changes have been made to guidance for full-year operating income, which is expected to reach Yen 137 billion. This is because while market conditions for MMA and other products in the chemicals segment are likely to be less favorable than initially expected, selling, general, and administrative expenses and R&D expenditure in the healthcare and other segments are projected to decline, Mitsubishi says.

As MRC reported before, Mitsubishi Chemical Holdings Corp said in late October 2020 it had appointed Belgium-born Jean-Marc Gilson as its next chief executive officer and president, effective April 2021. Gilson, currently CEO of French plant-based ingredient maker Roquette Group, will join a short list of foreign CEOs at listed Japanese companies.

The main application, consuming approximately 75% MMA, is in the production of polymethyl methacrylate acrylic plastics (PMMA). Methyl methacrylate is also used to produce methyl methacrylate-butadiene-styrene copolymer (MBS) used as a modifier for polyvinyl chloride (PVC).

According to MRC's ScanPlast report, September total production of unmixed PVC grew to 86,000 tonnes from 75,500 tonnes a month earlier, SayanskKhimPlast and RusVinyl increased their capacity utilisation. Overall output of polymer were 718,500 tonnes in the first nine months of 2020 versus 720,500 tonnes a year earlier, only two producers raised their production volumes, and RusVinyl cut its output.

Mitsubishi Chemical, a Japanese integrated chemical company, was established on October 1, 1990 through the merger of Mitsubishi Kasei and Mitsubishi Petrochemical Co. Due to its wide range of activities, it is one of the ten leading chemical companies in the world.
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