MEGlobal nominates ACP for February 2022 at USD880 per tonne

MEGlobal nominates ACP for February 2022 at USD880 per tonne

MOSCOW (MRC) -- MEGlobal has announced its Asian Contract Price (ACP) for monoethylene glycol (MEG) to be shipped in February 2022, according to the company's press release.

Thus, on 11 January, 2022. the company said ACP for MEG would be at USD880/MT CFR Asian main ports for arrival in February 2022, up by USD30/tonne from the previous month.

The February 2022 ACP reflects the short term supply/demand situation in the Asian market.

As MRC reported earlier, MEGlobal announced its January ACP for MEG at USD850/MT CFR Asian main ports, down by USD50/tonne from December.

MEG is one of the main feedstocks for the production of polyethylene terephthalate (PET).

According to ICIS-MRC Price report, the situation in the Russian domestic PET market was steady in the first working week of the year. Prices of PET chips for contract buyers decreased from December at the beginning of the year, whereas spot prices generally remained the same.

MEGlobal is a fully integrated supplier of monoethylene glycol (MEG) and diethylene glycol (DEG), collectively known as ethylene glycol (EG).
MRC

Trinseo raises January PS, ABS and SAN prices in Europe

Trinseo raises January PS, ABS and SAN prices in Europe

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 polystyrene (PS), acrylonitrile-butadiene-styrene (ABS) and acrylonitrile-styrene copolymer (SAN) in Europe, according to the company's press release as of January 5.

Effective January 1, 2022, or as existing contract terms allow, the contract and spot prices for the products listed below rose, as follows:

- STYRON general purpose polystyrene grades (GPPS) -- by EUR175 per metric ton;
- STYRON and STYRON A-Tech and STYRON X- Tech and STYRON C- Tech high impact polystyrene grades (HIPS) - by EUR175 per metric ton;
- MAGNUM ABS resins - by EUR155 per metric ton;
- TYRIL SAN resins - by EUR155 per metric ton.

As MRC reported earlier, Trinseo raised its prices for all PS, ABS and SAN grades on December 1, 2021, as stated below:

- STYRON GPPS -- by EUR50 per metric ton;
- STYRON and STYRON A-Tech and STYRON X- Tech and STYRON C- Tech HIPS - by EUR50 per metric ton;
- MAGNUM ABS resins - by EUR50 per metric ton;
- TYRIL SAN resins - by EUR50 per metric ton.

According to ICIS-MRC Price report, in Russia, prices of Nizhnekamskneftekhim's GPPS rose by Rb6,000/tonne at the beginning of the year and reached Rb178,750-189,700/tonne CPT Moscow, including VAT, whereas HIPS prices reached Rb184,750-195,700/tonne CPT Moscow, including VAT. January prices of Penoplex's material grew by Rb2,000/tonne to Rb197,000-199,000/tonne CPT Moscow, including VAT, whereas prices of Gazprom neftekhim Salavat's GPPS were in the range of Rb178,500-187,000/tonne CPT Moscow, including VAT, this week.

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 USD3.0 billion in net sales in 2020, with 17 manufacturing sites around the world, and approximately 2,600 employees.
MRC

COVID-19 - News digest as of 14.01.2022

1. Crude oil prices hold near USD85/bbl on stronger demand outlook

MOSCOW (MRC) -- Oil prices were steady on Thursday near two-month highs, with Brent crude trading near USD85 a barrel, buoyed by expectations that a strong economic recovery will boost demand, but rising US inventories and high inflation capped gains, reported Reuters. Brent crude futures rose 26 cents, or 0.3%, to USD84.93 a barrel, by 1445 GMT. US West Texas Intermediate (WTI) crude futures were up 8 cents, or 0.1, to USD82.72 a barrel. Oil prices rallied more than 50% in 2021 and some analysts expect this trend to continue this year, forecasting that a lack of production capacity and limited investment could lift crude to USD90 or even above USD100 a barrel.


MRC

European PVC prices steady for CIS markets since November

European PVC prices steady for CIS markets since November

MOSCOW (MRC) -- Negotiations over prices of European polyvinyl chloride (PVC) for January shipments to the CIS countries began in the middle of last week. Ethylene prices have been steady in the region for the second month in a row, on the back of which European producers rolled over their December export PVC prices for January shipments, according to ICIS-MRC Price report.

The January contract price of ethylene was agreed at the previous month's level, which theoretically allowed to talk about the steadiness of the net cost of PVC production. Strong demand for resin also remained in Europe, including demand from some export markets. And these conditions allowed to maintain high prices for resin. Most producers rolled over their December export PVC prices for January shipments, which virtually corresponded to the level of November.

In fact, there was a shortage of PVC in Europe during the whole year of 2021 because of scheduled and unscheduled shutdowns for maintenance of local producers and lower imports. Supply of PVC has begun to gradually increase in the market for the past two months of 2021, but the market is far from being saturated. In addition, interruptions in the work of some producers remain.

In January, European producers were in no hurry to adjust their export prices for the CIS countries and, in fact, maintained them in the range of EUR1,650-1,710/tonne FCA, which virtually corresponded to the level of November and December.

At the same time, it should be noted that supply of PVC for shipments from the USA has grown significantly since December. Thus, the key suppliers announced their offer prices for February shipments at USD1,700/tonne CFR and lower.
MRC

PVC production in Russia grew 3% in 2021

MOSCOW (MRC) -- Overall production of polyvinyl chloride (PVC) exceeded 1.0 mln tonnes in 2021, up by 3% year on year. Three producers increased their output, according to MRC's ScanPlast report.

December production of unmixed PVC rose to 88,400 tonnes from 86,600 tonnes a month earlier, higher output was due to the increased capacity utilisation at RusVinyl. Overall output of polymer totalled 1,007,000 tonnes in 2021 versus 976,300 tonnes a year earlier. Three producers increased their production, whereas one producer kept his last year's figures.

The structure of PVC production by plants looked the following way over the stated period.

RusVinyl produced slightly over 30,600 tonnes of PVC in December, with emulsion polyvinyl chloride (EPVC) accounting for 2,500 tonnes, compared to 29,600 tonnes a month earlier. RusVinyl's overall output reached 349,400 tonnes in 2021, compared to 333,400 tonnes in 2020.
Higher production was mainly caused by the absence of a shutdown for maintenances this year.

SayanskKhimPlast produced 27,900 tonnes of suspension PVC (SPVC), compared to 27,100 tonnes in November. The Sayansk plant managed to produce about 309,300 tonnes of PVC in January-December, compared to 298,800 tonnes a year earlier.

Baskhir Soda Company produced about 22,900 tonnes of SPVC in December, against 23,000 tonnes a month earlier. The Baskhir plant's overall production of PVC reached 268,200 tonnes in 2021, which virtually corresponds to the last year's figure.

Kaustik (Volgograd) last month produced a little more than 6,900 tonnes of PVC suspension, which is actually the same as in November.
The plant's overall production of PVC reached 80,300 tonnes over the stated period, up by 5% year on year.

MRC