Styrene monomer prices witness a drop in Asia

On Tuesday, styrene monomer (SM) prices edge lower in Asia, as per Polymerupdate.

An industry source in Asia informed a Polymerupdate team member, "SM prices were assessed lower in line with weaker upstream benzene values coupled with bearish market sentiments in the Asian region."

On Tuesday, FOB Korea SM prices were assessed at the USD 835-845/mt levels, a fall of USD (-5/mt) from Monday.

CFR China SM prices were assessed at the USD 845-855/mt levels, down USD (-5/mt) from Monday?s assessed levels.

Meanwhile, upstream benzene prices on Tuesday were assessed at the USD 700-710/mt FOB Korea levels, a drop of USD (-5/mt).

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The European Federation for Construction Chemicals (EFCC), together with several European industry associations, is calling on EU legislators to adopt quickly the European Commission’s proposal to postpone the application of the Classification, Labelling and Packaging (CLP) Regulation’s labeling requirements in an open letter to the Environment Committee of the European Parliament on Sept. 22, as per Chemweek.

The swift adoption of the so-called “CLP stop-the-clock” proposal through the simplified procedure would provide industry with better legal certainty and predictability for investments while the details of the Chemicals Omnibus are under discussion, EFCC said.

“Clear timelines are vital to ensure fair competition across the market. The current uncertainty around labelling obligations risks creating unequal conditions for companies, depending [on] their compliance timeframe,” it said.

EFCC added that legal certainty is crucial to avoid premature and potentially unnecessary investments, prepare for possible legislative changes and preserve fair competition.

The European Chemical Industry Council, the European Association of Chemical Distributors, the Association of the European Adhesive & Sealant Industry and the European Council of the Paint, Printing Ink and Artists’ Colors Industry are among the letter’s signatories.

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The Trump administration is reevaluating a $2.26 billion loan for Lithium Americas Corp.'s Thacker Pass lithium project in Nevada, as per Chemweek.

The Biden administration approved the loan in 2024 under the DOE's Loan Programs Office (LPO). The funds will be used to build processing facilities at Thacker Pass, which hosts the world's third-largest lithium reserves and resources, based on S&P Global Market Intelligence data.

"DOE is utilizing a variety of tools, including the Loan Programs Office, to strengthen domestic supply chains for critical minerals and unleashing American energy dominance," the DOE spokesperson said in a statement. "We are continuing to evaluate the LPO portfolio to ensure our limited taxpayer resources are used to advance [the] best interests of the American people and generate a return on investment."

Lithium Americas told Platts that it remains in active discussions with the DOE and project partner, General Motors Co., regarding the department’s review.

The loan is a key part of the financing to advance Thacker Pass, General Motors told Platts. In October 2024, the automaker agreed to invest $625 million to acquire a 38% stake in the project, allowing the company to secure supplies of the mineral used in electric vehicle batteries.

"During his first term, [President Donald Trump] strongly supported the development of Nevada's Thacker Pass mine," General Motors said in a statement. "We're confident in the project, which supports the administration's goals, and have committed almost $1 billion to its development, including a nearly $200 million letter of credit."

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Germany's RCS Group has acquired a stake in Croatian PET waste recycling company Rekis, as per company.

The group announced that the acquisition will strengthen RCS's European network and expand its expertise in plastic bottle recycling technologies. The parties did not disclose details of the transaction.

Rekis, located in Donja Dubrava, Croatia, is a joint venture between Austrian beverage manufacturer Steinrieser and the Austrian-Croatian company KIS Pica. The plant utilizes a comprehensive process including sorting, shredding, hot washing, and pelletizing using Erema's Vacunite system. It produces approximately 15,000 tons of recycled PET (rPET) pellets annually, primarily used for preform and bottle production.

Over the past ten years, RCS Group has transformed itself from a simple waste management company into a major European player in plastic recycling. It currently operates two facilities in Werne, Germany. These plants supply beverage manufacturers with both food-grade and non-food-grade rPET. A third plant in Nordkirchen is under construction. Its annual recycling capacity is over 70,000 tons.

It was previously reported that Indorama and Varun Beverages will build two PET recycling plants in India.

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Invista Inc. (Wichita, Kansas) said it has received International Sustainability and Carbon Certification (ISCC) Plus certification for its polymerization process at its nylon 66 production site in Shanghai, China, as per Chemweek.

The certification system verifies the sourcing and traceability of bio-, circular- and bio-circular-derived materials, applying a mass-balance approach. The certification was awarded following an independent audit issued by SCS Global Services, Invista said Sept. 22.

“A major shift is taking place in China as customers across the market increasingly look for alternative products that meet their goals,” said Kyle Redinger, Invista’s Asia-Pacific vice president/upstream nylon.

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