Recycled ABS grades from Ineos earn RecyClass certification

Recycled ABS grades from Ineos earn RecyClass certification

MOSCOW (MRC) -- Styrenics producer Ineos Styrolution has obtained RecyClass certification for its sustainable mechanically recycled ECO grades, the company announced.

Both its Terluran ECO MR and Novodur ECO MR grades have now earned Recycled Plastics Traceability certification, confirming the post-consumer origin of the waste used in the production of the respective products and guaranteeing the origins and traceability of recycled material. This is founded on the percentage-based recycled content calculation approach that is verified throughout the entire value chain and ensured via the Chain of Custody ISO 22095 as well as the Recycled Plastics EN 15353:2006 standards, on which the certification is based. The transparency of the scheme is additionally warranted via the system of the third-party certification audits.

Ineos’ Terluran ECO GP-22 MR50 and MR70 incorporating 50% and 70% recycled content, respectively, provide a drop-in solution for existing ABS applications and represent a significant step forward towards a circular economy. A selection of applications made from these mechanically recycled Terluran ECO materials will be exhibited at Ineos Styrolution’s booth at the K show in Dusseldorf in October, said Louie Mackee, Commercial Product Manager for Sustainable Products.

The company’s speciality Novodur ABS solutions come in a range of colours, as do their ECO MR counterparts. A product for self-colouring is available as well. Offering plug-in solutions, these Novodur grades are available with a 30% to 70% post-consumer mechanically recycled content; the individual grades come with a significantly reduced product carbon footprint of up to 57%.

We remind, INEOS Styrolution, the global leader in styrenics, has announced the introduction of an all-new product portfolio dedicated to polymer modification. The new product lines are addressing the need of compounders and extruders to enhance the properties of polymers and allow for improved processing. Smaller volumes of the new products are available via focused and very experienced distribution partners.
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Polyolefins pressured by weak demand and rising supply

Polyolefins pressured by weak demand and rising supply

MOSCOW (MRC) -- In July, the price development for European standard thermoplastics varied widely between the different material classes, said Sustainableplastics.

Polyolefin and PVC prices faster than feedstock costs, polystyrene prices surged following a hike in the cost of styrene monomer and PET prices also increased amid paraxylene shortages.

L/LDPE and HDPE prices fell by more than the EUR100/tonne decline in the C2 costs due to weak demand and rising import volumes. The propylene reference price settled down by EUR120/tonne as a result of falling naphtha costs. PP price tumbled much more than the cost reduction due to low sales and over-supply.

PVC prices dropped for the third month in a row due to rising supply and slower demand with decreases in excess of the pro-rata EUR50/tonne drop in ethylene costs.

PS prices increased in line with the EUR155/tonne increase in the styrene monomer reference price, which settled at an all-time high of EUR2,340/tonne.

The European PET market is going through turbulent times as a result of paraxylene feedstock shortages. Following an increase of EUR305/tonne to a record high level for the July PX reference price, producers settled for a PET price rise of EUR100/tonne in view of good availability supplemented by imports, and hesitant demand.

According to ICIS-MRC Price Report, Kazanorgsintez switched one of its three reactors to LLDPE production and this state of affairs will continue until the shutdown for maintenance. The scheduled downtime is expected from 7 September (total shutdown of PE production from 20 September) and up to 10 October.
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Wanhua Chemical and WEGO signed a strategic cooperation agreement

MOSCOW (MRC) -- Wanhua Chemical and WEGO signed a strategic cooperation agreement, said the company.

The two sides shared views on further strengthening cooperation and innovation in the field of health industry by using high-grade medical resin materials.

Mr. Chen Lin, Chairman of WEGO, said that a large number of high-end medical equipment has extremely stringent requirements on their raw materials. He hoped to expand the field and level of cooperation with Wanhua Chemical to jointly lead the steady development of a high-end medical industry.

Mr. Liao Zengtai, Chairman of Wanhua Chemical, agreed that Wanhua Chemical would give full play to its technological innovation advantages and launch more key medical materials to contribute to the improvement of the medical device industry as well as the healthy lives of human beings.

In the future, Wanhua Chemical and WEGO will cooperate to build a safe and resilient industrial and supply chain, and work together with relevant parties to continuously promote the deep integration of diversified economies, adding new momentum for the realization of creating a better life for mankind.

We remind, Wanhua Chemical, a major petrochemical producer in China, says it will spend USD3.6 billion to build a chemical complex in Penglai, China, by 2024. The project’s centerpiece will be a propane dehydrogenation plant (PDH) with 900,000 metric tons per year of capacity. The complex will also make propylene oxide, polyether polyols, ethylene oxide, acrylic acid, polypropylene (PP), and other products.
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Wanhua received regulatory approval for cracker project

Wanhua received regulatory approval for cracker project

MOSCOW (MRC) -- Wanhua Chemical has obtained approval from Shandong provincial development and reform commission for its No 2 cracker with 1.2m tonne/year capacity and downstream polyolefin project at Yantai, said the company announced.

Major derivatives will include a 250,000 tonnes/year of low-density polyethylene (LDPE) plant, two polyolefin elastomer (POE) units each at 200,000 tonnes/year of capacity, a 200,000 tonne/year butadiene (BD), a 400,000 tonnes/year of aromatics extraction, and a 550,000 tonne/year cracked gasoline hydrogenation plant.

Constructions are estimated to take three years.

The timeline is not revealed.

As per MRC, Wanhua Chemical, a major petrochemical producer in China, says it will spend USD3.6 billion to build a chemical complex in Penglai, China, by 2024. The project’s centerpiece will be a propane dehydrogenation plant (PDH) with 900,000 metric tons per year of capacity. The complex will also make propylene oxide, polyether polyols, ethylene oxide, acrylic acid, polypropylene (PP), and other products.

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Major traders, banks cut business ties with Russia-backed Indian refiner

Major traders, banks cut business ties with Russia-backed Indian refiner

MOSCOW (MRC) -- Many global oil traders and banks have stopped dealing with Indian refiner Nayara Energy, a Rosneft affiliate, as they are worried about Western sanctions over Russia's invasion of Ukraine, two people with knowledge of the matter told Reuters.

Nayara per se has not been sanctioned as part of the international response to what Russia calls its "special military action" against Ukraine but sanctions are in place against Rosneft. The Russian energy giant owns about 49% of Nayara which is India's second-largest private refiner, while Kesani Enterprises Co Ltd, a consortium led by Trafigura Group and Russia's UCP Investment Group, holds 49.13%.

Most trading firms including Vitol and Glencore as well as producers in Canada, Latin America and Europe have declined to directly sell crude to Nayara, according to one of the people. The sources were not authorized to speak to the media and declined to be identified.

They said Nayara was now dependent on state-run Middle Eastern producers, Chinese traders, companies supplying Russian oil as well as local crude oil producers for its 400,000 barrels per day Vadinar refinery in western Gujarat state. "It is increasingly becoming difficult for the company," said one of the sources, adding that it has been unable to hedge for cracks and inventory.

Companies that have declined to deal with Nayara include Phillips 66, Occidental Petroleum Corp, Cepsa , Equinor, Gunvor, Koch, Petrogal, Respsol, Shell, Suncor Energy, Ecopetrol and TotalEnergies, the second person said. Banks and other firms that have refused to work on new hedging positions for Nayara include Citigroup, Morgan Stanley, BNP Paribas, JPMorgan, France's Engie as well as the core banking units of Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group, they said.

The trading firms, companies and banks either declined to comment or did not respond to Reuters emails seeking comment. Nayara, which accounts for 8% of India's refining capacity, said it had longstanding relationships with its suppliers, works with a diverse set of suppliers and has appropriate contracts for the purchase of crude oil.

"Apart from honoring the long- and shorter-term contracts, our suppliers are also offering, and we pick up crudes on a spot basis on competitive terms," it said in an emailed statement. Nayara has been a key buyer of Russian oil, snapping up the discounted product shunned by some western companies and countries. The higher intake of Russian oil and improved product cracks helped Nayara's quarterly profit climb to a record 35.6 billion Indian rupees (USD446 million) in April-June.

Those results, however, mask concerns about its operating environment. Some foreign banks and India’s HDFC Bank have stopped offering trade credits for oil imports, banking and industry sources told Reuters in April.

India's CARE Ratings has also placed Nayara's long-term ratings on 'credit watch with negative implications' due to sanctions against Moscow. Some of Nayara's top management officials including its chief financial officer have left the company since Western nations began to impose sanctions on Russia. The company has not elaborated on the reasons for the departures.

As per MRC, U.S. crude oil refineries plan to keep running near full throttle this quarter, according to executives and estimates, as refiners set aside worries about recession and sliding retail prices to deliver more fuel. The operating levels will keep U.S. gasoline prices below their spring highs while providing strong earnings to refiners, analysts said. Many aim to run at rates similar to the second quarter's 94% average utilization rate.

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