EQUATE announced January MEG price for India

EQUATE has nominated its January 2023 monoethylene glycol (MEG) India Contract Price (ICP) at USD511/tonne, said the company.

Spot Asia MEG prices closed at USD485-485/tonne CFR China Main Ports (CMP) on 21 December.

We remind, EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of Ethylene Glycol announced its earnings for the first half of 2022. The EQUATE Group reported total revenue of USD2,238 million in H1 2022, compared to USD2,041 million during the same period in 2021. The Group also reported a net income after tax of USD537 million and EBITDA of USD855 million, compared to USD543 million and USD869 million, respectively for 2021.

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MEGlobal has nominated its February 2023 monoethylene glycol (MEG) Asian Contract Price (ACP) at USD840/tonne, up by USD20/tonne from its January ACP, said the company.

The price is on a CFR (cost and freight) Asia basis.

Asia MEG prices have rebounded to above USD500/tonne CFR China Main Ports (CMP) since 10 January on the back of pre-holiday restocking before the Chinese Lunar New Year holiday.

We remind, MEGlobal has nominated its January 2023 monoethylene glycol (MEG) Asian Contract Price (ACP) at USD820/tonne, up by USD20/tonne from the December ACP. The price is on a CFR (cost and freight) Asia basis.
Asia MEG market has bottomed out in December after China relaxed its COVID curbs, but the upcoming new capacities in China and India may weigh on the prices.

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Nexeo Plastics announced an expansion of its relationship with Teknor Apex. Nexeo Plastics will become a key distributor for Teknor Apex in Europe of its portfolio of thermoplastic elastomers (TPEs) under the Sarlink and Monprene brands, said the company.

This partnership provides Nexeo Plastics customers with a broad portfolio of TPE technologies, including styrenic block copolymer (SBC or TPS), thermoplastic vulcanizate (TPV) and specialty adhesion-modified grades for multi-shot molding onto a wide variety of engineering resins. The Teknor Apex TPE portfolio encompasses several product lines developed over time to meet specific industry requirements: Sarlink TPVsare ideal for sealing applications that require superior elasticity and long-term performance that well serve the automotive, industrial, consumer, and building & construction markets. Sarlink® styrenic-based TPEs provide automotive OEMs with more design flexibility and superior colorability for interior applications.

Monprene® TPEs are extremely versatile with a wide hardness range and broad thermal performance. These materials are ideal for consumer products, industrial applications and packaging, and include grades formulated for food-contact applications.

“This partnership with Teknor Apex enlarges our portfolio of high-value TPEs and complements the solutions we offer key industries, such as automotive, packaging, consumer, industrial and building and construction,” said Joost d’ Hooghe, Vice President EMEA at Nexeo Plastics.

“Nexeo Plastics and Teknor Apex complement each other well with our highly customer centric approach and similar broad customer base and market coverage. The European market is well served by our partnership; providing real value with our state-of-the-art systems and high level of technical support capabilities,” said Stef Hordijk, Director of Sales and Marketing for the TPE Division in the Europe. “Their extensive distribution in Europe significantly expands our reach in important target markets."

Nexeo Plastics is accepting orders for Teknor’s TPE products beginning Jan. 1, 2023.

MRC earlier said, Nexeo Univar Inc., announced that it has completed the acquisition of Nexeo Solutions, creating a leading global chemical and ingredients solutions provider. The combined company will conduct business as Univar Solutions, reflecting a commitment to combining the 'best of the best' from each legacy organization.

Nexeo Plastics is a leading global thermoplastic resins distributor, representing quality products from world-class suppliers, and serving a diverse customer base across North America, Latin America, Europe, Middle East, Africa and Asia. From material selection assistance to identifying supply chain and inventory solutions, we go beyond traditional logistics to provide value-added services across many industries, including automotive, healthcare, packaging, wire and cable,

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Air Liquide, through Air Liquide Engineering & Construction, is actively leveraging on its complete portfolio of innovative technology solutions to support the decarbonization of its industrial customers, said Polymerupdate.

Autothermal Reforming (ATR) is one of the latest technologies utilized enabling the efficient production of large scale, low-carbon hydrogen and ammonia, when combined with carbon capture technology. One of the leading companies for ATR, Air Liquide's technology has been selected for Japan's first demonstration project owned and operated by INPEX CORPORATION to produce low-carbon hydrogen and ammonia.

While other reliable solutions are available on the market today, such as Steam Methane Reforming with carbon capture, ATR is one of the most suitable options for specific larger scale low-carbon hydrogen production facilities. When ATR is combined with carbon capture technology, customers can achieve higher energy efficiency, lower investments and a simplified single train production process to facilitate carbon capture of up to 99% in highly integrated industrial facilities.

Air Liquide is one of the leading companies for Autothermal Reforming with proprietary technologies in the ATR process for large scale syngas production applications. Air Liquide Engineering & Construction will now provide the technology for low-carbon hydrogen and ammonia production to a pilot project owned and operated by INPEX CORPORATION, a Japanese oil & gas exploration and production company. ATR will be part of the development of the Kashiwazaki Clean Hydrogen and Ammonia Project in the Hirai area of Kashiwazaki City, Niigata Prefecture, Japan. The overall project will be Japan’s first demonstration project integrating low-carbon Hydrogen and Ammonia production with carbon capture.

We remind, Air Liquide has won a major contract to supply liquefaction equipment for Woodside Energy’s proposed H2OK hydrogen project in Ardmore, Oklahoma, in the US. Air Liquide will provide the engineering and fabrication of two 30 tonnes per day liquefaction units, which will liquefy hydrogen produced through electrolysis in preparation for storage, loading and transportation to customers.
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Olin Corp. (Clayton, Mo.) and Mitsui & Co., Ltd. (Tokyo) announced that the Blue Water Alliance JV, LLP has received all necessary regulatory approvals and it is beginning operations, said Chemengonline.

Announced in March 2022, Blue Water Alliance (BWA) is a joint venture of Olin and Mitsui. BWA brings together Mitsui’s industry-leading global logistics, long-established supplier and customer relationships, and breadth of product portfolio with Olin’s scale, North American export capability, extensive global terminal network, and production flexibility across the electrochemical unit (ECU) portfolio.

Headquartered in Houston, Texas, USA, BWA is an independent global trader of ECU-based derivatives, initially focused on globally traded caustic soda and ethylene dichloride (EDC).

Luiz Pimentel, General Manager, Blue Water Alliance, commented “We’re excited to begin delivering strategic solutions through our integrated global supply, trading, marketing, and logistic capabilities. We aim to enable reliable caustic soda and EDC supply through an efficient, sustainable, and cost-effective approach while accelerating industrial decarbonization efforts.”

We remind, Olin Corporation announced that it plans to permanently shut down approximately 225,000 ECU tons of diaphragm-grade chlor alkali capacity at its Freeport, TX facility. The closure is expected to be completed by year end 2022.

Olin Corporation is a leading vertically-integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid. Winchester's principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.

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