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COVID-19 - News digest as of 15.06.2021

June 15/2021

1. US PP exports down by nearly 13% YOY in Jan-Apr 2021

MOSCOW (MRC) -- US polypropylene (PP) exports reached 516,389 mt in the first four months of 2021, down by 12.9% from 593,327 mt a year earlier, reported S&P Global with reference to ITC data. In January-April 2019, the US exported 553,460 mt of PP, up by 7% from 516,389 mt in the same period of 2021, but down by 6.7% from 593,327 mt in the January-April period of 2020, the date showed. PP demand crashed amid the height of pandemic-related shutdowns in April 2020, but began rebounding as shutdowns eased and demand rose for durable goods like vehicles, homes and appliances.

2. Indorama Ventures donates 1,000 vital PPE suits to medical personnel fighting Covid-19

MOSCOW (MRC) -- Indorama Ventures Public Company Limited (IVL), a global chemical producer, donated 1,000 PPE suits made from recycled PET yarns to medical personnel fighting COVID-19, said the company. The yarns are made from used PET bottles which are collected from around the country and recycled, including through partners such as Big C Supercenter and The Street Ratchada as part of their CSR programs. The high-quality yarns used to make the PPE suits are made from recycled PET bottles at IVL�s facility in Nakhon Pathom, which is Thailand�s only producer of recycled yarns for medical use. The medical graded PPE suits have been tailored by a producer certified by Thailand"s Food and Drug Administration. The company recycles more 1.6 billion post-consumer PET bottles every year, including 60,000 post-consumer bottles collected and donated by The Street Ratchada and Big C.

3. Crude oil stays near multi-year highs on improved outlook demand recovery

MOSCOW (MRC) -- Oil prices held near multi-year highs, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs, reported Reuters. Brent crude was up 14 cents, or 0.2%, at USD72.83 by 0123 GMT. It rose 1.1% last week and hit the highest since May 2019 of USD73.09 on Friday. US West Texas Intermediate was also up 14 cents, or 0.2%, at USD71.05 a barrel, after reaching the highest since October 2018 at USD71.24 on Friday and rising 1.9% on the week.
Author:Margaret Volkova
Tags:Asia, Europe, PP, crude and gaz condensate, petrochemistry, Indorama Ventures PLC, COVID-19, USA.
Category:General News
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