Trinseo again raises March 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 March 8.

Effective March 8, 2022, or as existing contract terms allow, the contract and spot prices for the products listed below rose to reflect current market conditions as follows:

- STYRON general purpose polystyrene grades (GPPS) -- by EUR350 per metric ton;
- STYRON and STYRON A-Tech and STYRON X- Tech and STYRON C- Tech high impact polystyrene grades (HIPS) - by EUR350 per metric ton;
- MAGNUM ABS resins - by EUR350 per metric ton;
- TYRIL SAN resins - by EUR350 per metric ton.

As MRC reported earlier, Trinseo raised its prices for all PS, ABS and SAN grades on Narch 1, 2022, as stated below:

- STYRON GPPS -- by EUR125 per metric ton;
- STYRON and STYRON A-Tech and STYRON X- Tech and STYRON C- Tech HIPS - by EUR125 per metric ton;
- MAGNUM ABS resins - by EUR110 per metric ton;
- TYRIL SAN resins - by EUR110 per metric ton.

According to ICIS-MRC Price report, in Russia, this month's prices of Nizhnekamskneftekhim's PS increased by Rb6,000/tonne, whereas March prices of Penoplex's material grew by Rb8,000/tonne. During last week, prices pf Gazprom neftekhim Salavat's GPPS rose and were at Rb196,000-205,000/tonne CPT Moscow, including VAT.

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

MOSCOW (MRC) -- North American chemical railcar traffic rose for the fourth straight week, led by the US where loadings rose 17.8% from depressed levels during last year’s US Gulf Coast winter storm, according to data for the week ended 5 March from the Association of American Railroads.

For the first nine weeks of 2022 ended 5 March, North American chemical railcar traffic was up 5.2% year on year to 420,894 railcar loadings.

In the US, chemical railcar loadings represent about 20% of chemical transportation by tonnage, with trucks, barges and pipelines carrying the rest. In Canada, producers rely on rail to ship more than 70% of their products, with some exclusively using rail.

As per MRC, North American weekly chemical railcar traffic rose 11.6% year on year, led by the US where loadings rose 22.1% from depressed levels during last year’s US Gulf Coast winter storm. For the first eight weeks of 2022 ended 26 February, North American chemical railcar traffic was up 4.0% year on year to 372,286 railcar loadings.

We remind, U.S. President Joe Biden was expected to announce a ban on Russian oil and other energy imports on Tuesday in retaliation for the invasion of Ukraine. The White House said Biden was scheduled to announce actions at 10:45 a.m. (1545 GMT) on Tuesday against Russia over Ukraine, but did not specifically mention oil imports. Oil prices jumped on the news, with Benchmark Brent crude LCOc1 for May climbing by 5.4% to USD129.91 a bbl by 1345 GMT.
mrchub.com

MOSCOW (MRC) -- Saudi Aramco said on Thursday its JV in China will develop a major integrated refinery and petrochemical complex in the northeast of the country, reported Reuters.

The project, expected to be operational in 2024, combines a 300,000 bpd capacity refinery and ethylene-based steam cracker, with Aramco set to supply up to 210,000 bpd of crude oil feedstock.

Huajin Aramco Petrochemical Company is a JV between Aramco, North Huajin Chemical Industries Group and Panjin Xincheng Industrial Group.

As MRC informed before, in June 2020, Aramco finalized its USD69 billion acquisition of a 70% stake in Saudi Basic Industries Corp., the Middle East's biggest petrochemical maker. SABIC reported more than a fivefold year-on-year increase in its Q3 net profit to USD1.49 billion thanks to higher average sales prices.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,487,450 tonnes in 2021, up by 13% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market totalled 1,494.280 tonnes, up by 21% year on year. Deliveries of homopolymer PP and PP block copolymers increased, whreas.shipments of PP random copolymers decreased significantly.

Saudi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian national oil and natural gas company based in Dhahran, Saudi Arabia. Saudi Aramco's value has been estimated at up to USD10 trillion in the Financial Times, making it the world"s most valuable company. Saudi Aramco has both the largest proven crude oil reserves, at more than 260 billion barrels, and largest daily oil production.
MRC

MOSCOW (MRC) -- A refinery in Saudi Arabia's capital, Riyadh, was attacked by a drone on Thursday morning but petroleum supplies were not affected, reported Reuters with reference to Saudi state news agency SPA.

The attack caused a small fire that was controlled and did not result in any injuries or casualties, SPA said citing a statement by an energy ministry official.

"The refinery's operations and supplies of petroleum and its derivatives were not affected," the statement said.

It did not specify where the attack originated from.

The world's top oil exporter has faced frequent missile and drone assaults by Yemen's Iran-aligned Houthi group that has been battling a coalition led by Riyadh for seven years.

The Houthis have not announced any strikes against the kingdom in recent days and the Saudi-led coalition had not issued a statement regarding Thursday's incident.

"These repeated acts of sabotage and terrorism on vital installations and civilian structures ... do not just target the Kingdom but aim to undermine the security and stability of global energy supplies," the statement said.

As MRC wrote before, Saudi Aramco CEO Amin Nasser said the “tragic situation unfolding in Ukraine is making the global energy crisis worse”. Nasser, speaking at CERAWeek in Houston, echoed other energy executives in saying that the crisis exposes the mixed signals delivered by policymakers to the oil-and-gas industry amid the energy transition.

We remind that in June 2020, Aramco finalized its USD69 billion acquisition of a 70% stake in Saudi Basic Industries Corp., the Middle East's biggest petrochemical maker. SABIC reported more than a fivefold year-on-year increase in its Q3 net profit to USD1.49 billion thanks to higher average sales prices.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,487,450 tonnes in 2021, up by 13% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market totalled 1,494.280 tonnes, up by 21% year on year. Deliveries of homopolymer PP and PP block copolymers increased, whreas.shipments of PP random copolymers decreased significantly.

Saudi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian national oil and natural gas company based in Dhahran, Saudi Arabia. Saudi Aramco's value has been estimated at up to USD10 trillion in the Financial Times, making it the world"s most valuable company. Saudi Aramco has both the largest proven crude oil reserves, at more than 260 billion barrels, and largest daily oil production.
MRC

MOSCOW (MRC) -- Iranian gas export revenues surged by more than 250% in the year to March, while earnings from petrochemical exports doubled, said Rueters.

Oil Minister Javad Owji said, overall energy export earnings, including crude, rose by 2.5 times but he only gave a breakdown for gas and petrochemicals. Iran does not release figures related to oil exports.

The increase in revenue was partly due to more exports and because Iran managed to collect more of the proceeds from exports in spite of U.S. sanctions, the minister said.

"Through various methods, our government has collected all the revenues from its exports of oil, gas, gas condensate and oil products," Owji said.

Gas export revenues rose to USD4.6 B from USD1.27 B last year, and revenues from petrochemical products exports doubled to USD12 B, the minister said.

As per MRC, Asian refiners, traditionally big buyers of Iranian oil, are keen to resume imports from Iran if there is an agreement to revive a 2015 nuclear deal, which could pave the way for more supply on global markets and soften prices. Most Asian buyers halted Iranian oil imports in 2019 after former U.S. President Donald Trump withdrew from the nuclear deal with Iran and re-imposed sanctions on Tehran's oil exports. Indirect talks between Iran and the U.S. on the nuclear deal resumed last week. Western diplomats have indicated they hoped to have a breakthrough by now, but tough issues remain unresolved.

We remind, U.S. President Joe Biden was expected to announce a ban on Russian oil and other energy imports on Tuesday in retaliation for the invasion of Ukraine. The White House said Biden was scheduled to announce actions at 10:45 a.m. (1545 GMT) on Tuesday against Russia over Ukraine, but did not specifically mention oil imports. Oil prices jumped on the news, with Benchmark Brent crude LCOc1 for May climbing by 5.4% to USD129.91 a bbl by 1345 GMT.
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