Trinseo announces price increase for polystyrene and copolymers in Europe

Trinseo, a specialty material solutions provider, and its affiliate companies in Europe announced today a price increase for all polystyrene (PS), ABS and SAN grades, said the company.

Effective August 1, 2023, or as existing contract terms allow, the prices for the products listed below will increase as follows:

STYRON™ and STYRON™ X-TECH general purpose polystyrene grades (GPPS) by +125 Euro per metric ton
STYRON™ and STYRON™ A-TECH, STYRON™ C-TECH and STYRON™ X- TECH high impact polystyrene grades (HIPS) by +125 Euro per metric ton
MAGNUM™ ABS resins by +55 Euro per metric ton
TYRIL™ SAN resins by +85 Euro per metric ton

We remind, Trinseo, a specialty material solutions provider, announced the inauguration of its polycarbonate (PC) dissolution pilot facility in Terneuzen, the Netherlands. The new pilot facility is a major step in Trinseo’s commitment to sustainability, part of the journey in realizing the company’s sustainability goals. The guests of honor at the inauguration ceremony included Jo-Annes de Bat, Provincial Executive (responsible for regional economy) of the Netherlands.

Trinseo, a specialty material solutions provider, partners with companies to bring ideas to life in an imaginative, smart and sustainably focused manner by combining its premier expertise, forward-looking innovations and best-in-class materials to unlock value for companies and consumers.

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In June, the European chlorine production reached 597,178 tonnes. With 19,906 tonnes, the June 2023 average daily production was 0.8% lower than in the previous month (May 2023: 20,065 tonnes) and 12.5% lower than in June 2022 (22,759 tonnes), according to European chlor-alkali industry association Euro Chlor.

With 207,417 tonnes, the June 2023 caustic soda stocks were 22.5% lower than in the previous month (May 2023: 267,745 tonnes) but 14,363 tonnes above the level of June 2022 (193,054 tonnes).

We remind, Olin shut the 835,000 metric tons per year unit July 12, citing equipment failures, according to its chief customer, US polyvinyl chloride (PVC) producer Shintech. Olin announced in June that the VCM plant had been restarted but was running at reduced rates.

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Thyssenkrupp Uhde will support the project OFFSET consortium led by Netherlands-based project developer SwitcH2 B.V. and including partners BW Offshore Norway AS (BWO), MARIN, TU Delft, and Strohm, said Hydrocarbonrocessing.

The consortium is developing an industrial scale floating green hydrogen and ammonia project, based on the proven concept of a floating production and offloading vessel (FPSO).

“The green transformation is the biggest challenge humanity has ever faced, and we are proud to be one of the transformation enablers with our solutions and innovations at thyssenkrupp Uhde”, says Dr. Cord Landsmann, CEO thyssenkrupp Uhde. “To stop climate change, we have developed technologies that make sustainability feasible for businesses, reduce the carbon footprint of industrial value chains, and accelerate the growth of renewable energy. This is exactly what motivated us to develop our green ammonia technology.”

The collaboration between the OFFSET Project group and thyssenkrupp Uhde marks a significant milestone in the pursuit of sustainable and environmentally friendly industrial practices. Modern engineering and cutting-edge technology are combined in the proposed FPSO ammonia plant to produce a modular and adaptable solution that will shape the future of clean offshore ammonia manufacturing.

In March 2023, SwitcH2 B.V. announced it had received Approval in Principle from DNV on its design principles for an FPSO which will produce ammonia offshore solely from renewable sources of energy. As part of the Approval in Principle process, BWO developed the topside arrangement, hull, and mooring system design for the FPSO with the engagement of thyssenkrupp Uhde via a Technical Concept Study for the ammonia plant based on thyssenkrupp’s uhde ammonia synthesis technologies.

We remind, BASF and thyssenkrupp Uhde announced their cooperation in the marketing and further development of catalyst and process design for thyssenkrupp Uhde’s leading EnviNOx technology for N2O and NOx abatement. BASF will supply its high-performance catalysts to thyssenkrupp Uhde, enabling their customers to reduce greenhouse gas emissions even more effectively. EnviNOx reliably removes more than 99% of all N2O and NOx emissions, as at BASF’s site in Ludwigshafen, where a new unit successfully started up in the second half of 2022.

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-Trinseo's sales volumes have stabilised at levels that are 20% below typical mid-cycle levels, said the company.

So far, demand in the third quarter is similar to that in the first half of the year, said Frank Bozich, CEO. He made his comments during an earnings conference call. The company continues to see lower demand across many applications, particularly in building and construction as well as consumer durables, he said. Consumer demand remains soft and Trinseo's customers continue to destock.

Trinseo did see pockets of relative strength, such as for products that contain recycled content and those used in coatings, adhesives, sealants and elastomers (CASE). Even though Trinseo is headquartered in the US, more than half of its sales are in Europe, making it vulnerable to the disruptions that region has suffered from higher energy costs caused by the war between Russia and Ukraine.

Higher energy costs have made European producers less competitive against much of the world, Bozich said. Already, Trinseo is shutting down a styrene plant and a polycarbonate (PC) line in Germany to lower costs.

It is in talks to shut down its last styrene plant, in the Netherlands, because it makes more sense for Trinseo to buy the material instead of produce it in Europe.

In addition to higher energy costs, lower demand from China has also dragged down European profits, Bozich said. The company has lowered its forecast for Chinese growth from that it made six months ago.

We remind, Trinseo, a specialty material solutions provider, announced the inauguration of its polycarbonate (PC) dissolution pilot facility in Terneuzen, the Netherlands. The new pilot facility is a major step in Trinseo’s commitment to sustainability, part of the journey in realizing the company’s sustainability goals. The guests of honor at the inauguration ceremony included Jo-Annes de Bat, Provincial Executive (responsible for regional economy) of the Netherlands.

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MOOSCOW (MRC) -- Independent U.S. refiner Phillips 66 plans to run its refineries in the mid-90% range of their combined crude oil throughput capacity of 1.9 million barrels per day (bpd) in the third quarter of 2023, Chief Financial Officer Kevin Mitchell said on Wednesday, as per Reuters.

The company's refineries ran at an average of 93% of combined capacity in the second quarter of the year, the company said on Wednesday in a statement released ahead of a conference call with investor analysts.

The gasoline-producing fluidic catalytic cracker (FCC) at the company's 285,000 bpd Bayway refinery in Linden, New Jersey was back in full production on July 20, said Richard Harbison, executive vice president of refining. The 145,000-bpd FCC was shut on June 8 for repairs, Harbison said.

The company continues to expect its Rodeo, California refinery will be fully converted to the production of renewable diesel in the first-quarter of 2024 when it is scheduled to begin commercial operation, Harbison said.

Phillips 66 Chief Executive Mark Lashier said the company continues to seek the best options for its 139,000-bpd Los Angeles refinery in the "politically challenging" California marketplace.

"It is, frankly, a difficult environment," Lashier said. "And it's been very publicly, politically challenging there, whether it's EV (electric vehicle) mandates. But we believe that it's going to be challenging for California to implement their aspirations around EVs so I think that may be overplayed."

California officials have said they want 100% of new vehicles by 2035 to produce zero emissions.

Phillips 66 owns nine refineries and is a 50% co-owner of two others in the United States. The company is the nation's fourth largest refiner, according to the U.S. Energy Information Administration.

We remind, We remind, Phillips 66 reported a substantial 46% drop in its second-quarter profits, reflecting the challenges faced by U.S. refiners due to declining margins. This decline comes after last year’s record-high margins, which were boosted by a surge in fuel demand and supply constraints caused by the pandemic-driven refinery closures and the global oil market disruptions resulting from Russia’s invasion of Ukraine. The company’s premarket trade showed its shares falling 1.2% to USD110.80.

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