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Guangxi Huayi New Materials, has taken off-stream its acetic acid plant. The plant is located in Qinzhou, Guangxi, China; the plant has a production capacity of 500,000 mt/ year. The sources informed, the company halted operations at the plant on July 27, 2021 for maintenance. Further details on duration of the shutdown could not be ascertained.
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In Taiwan informed that, the company resumed operations at the plant on July 29, 2021. The plant was shut for catalyst change work on June 15, 2021. Located at Mailiao in Taiwan, the plant has a production capacity of 250,000 mt/ year. Formosa Plastics Corp (FPC), has brought on-stream its n-butanol (NBA) plant following a maintenance work.
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On the demand side, traders noted that some buyers were looking for cargo on fixed price basis, due to the expectations of high ethylene price in September amid firm naphtha prices. Firm upstream naphtha prices were strengthening the selling indications. Asian cracker operators were struggling on high feedstock costs and relatively lower downstream prices. However, because of the thin margins for non-integrated polyethylene, mono ethylene glycol, and styrene producers, buyers were not in hurry to increase their buying indications. In upstream, the benchmark C+F Japan naphtha cargo was seen up by $1/mt at $701.25/mt on July 30 Asian closes. The ethylene/naphtha spread was calculated at $303.75/mt, within the typical breakeven range of $300-$350/mt sources brought to our notice.
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Toluene still remains out of reach of gasoline blenders in Europe who have been opting for competitive alternative blend stocks such as reformate or MTBE in recent weeks. Following a surge in domestic demand caused by the easing of coronavirus-related mobility restrictions MTBE in Europe is pricing above its regional counterparts and leading to closed routes. The European toluene market continued to trade sideways July 29, with little fresh bid-offer activity heard on the day and as focus in the market remained on alternative chemical components for gasoline, and any news of possible disruption at Chem Park Leverkusen site. Europe is the highest level of all the regions so I don't see product leaving Europe right now sources said.
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Naphtha swaps reflected an eased sentiment, as the front-month August-September MOPJ swap spread was pegged by brokers in mid-afternoon trade July 30 at $8.25/mt, lower than the $9.75/mt at the Asian close July 29. The week ended on a busy note for the Asian naphtha market with tenders heard from end-users for H1 September delivery cargoes at the tail end of the half-month cycle, sources said. A supply squeeze for naphtha, along with robust demand as a petrochemical feedstock, which is uncommon for summer, boosted the market to fresh highs across the globe. This is an unusual situation, as Asia is typically the main outlet for excess naphtha from the West of Suez. On the demand side, steam crackers in both Asia and Europe were maximizing their use of naphtha as a feedstock due to an unseasonably firm LPG segment and were also operating at high levels due to positive olefin margins.
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DEG Basic Price Increased By 0.20/Kgs, New Basic Price Is 70.10/Kgs+GST(Valid till 06/08/2021)
MEG Basic Price Decreased By 0.30/Kgs, New Basic Price Is 61.90/Kgs+GST(Valid till 06/08/2021)
PTA Basic Price Increased By 1.10/Kgs, New Basic Price Is 75.50/Kgs+GST(Valid till 06/08/2021)
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Ethyl Acetate Basic Price Increased By 4.00/Kgs, New Basic Price Is 102/KGS+GST in tanker
Acetic Acid Basic Price Increased By 3.00/Kgs, New Basic Price Is 84/KGS+GST in tanker
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The Port of Houston’s two container terminals are currently shut as a result of a “hardware failure” that began Monday morning.
In a statement, the Port of Houston made clear that the incident is not related to a cyber attack and it is working to restore systems as soon as possible. However, the two container terminals, Bayport and Barbours Cut, are not expected to open yet.
Ships that were already in progress have been able to continue working, but operations on new vessels “have not been possible”. Truck gates at both container facilities are also idle.
The port is now in possession of necessary hardware, but configuration and restoration “has been a slow process”. Port of Houston’s Bayport and Barbours Cut container terminals handle about two-thirds of all the containerized cargo in the U.S. Gulf of Mexico. Like other container ports around the country, the port has seen a continued surge of imports since rebounding from the COVID-19 pandemic.
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Thai Oil Public Co Ltd (Thaioil) is a new strategic investor. CAP’s second petrochemical complex is expected to cost around $5bn and take four to five years to build.
The new complex will double CAP's production capacity to more than 8m tonnes/year.
Thaioil, as a strategic investor in the project, will be able to supply CAP with naphtha from its $4.8bn clean fuel project (CFP) which is scheduled to be completed in 2023. CAP is the sole operator of a naphtha cracker in Indonesia.
Its planned second petrochemical complex is expected to produce 1.1m tonnes/year of ethylene; 600,000 tonnes/year of propylene; 175,000 tonnes/year of butadiene; 363,000 tonnes/year of benzene; 450,000 tonnes/year of high density polyethylene (HDPE); 300,000 tonnes/year of low density polyethylene (LDPE); and 450,000 tonnes of polypropylene (PP).
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Transportation capacity in Nanjing and Taixing in Taizhou, which is also in the province, has been reduced by about a third, according to acrylic acid traders.
Drivers of truck cargo were required to have a negative virus test result in the last 48 hours before being allowed entry into warehouses, hampering deliveries.Kingboard (Changzhou) Petrochemical Wharf Co, which provides terminal handling and warehousing services, is currently not allowing cars to take goods if coming from Nanjing or Suqian, which are deemed high-risk or medium high-risk areas.
The highly contagious Delta variant of the coronavirus was identified early in the week in Nanjing among airplane cabin cleaners at the Nanjing Lukou International Airport.
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The joint venture, which operates a LPG import terminal in India, will diversify into gasoline and diesel retail sales and transportation of natural gas, IOC chairman Shrikant Vaidya said without revealing more details.
Vaidya also said that IOC's 300,000 b/d refinery in the east coast city of Paradip was shut and will be restarted next month, while no other shutdowns were planned for this year.
IOC was operating its refineries at 88.5pc capacity in the April-June quarter and will increase runs to maximum by the Diwali festival in November, when demand for diesel is expected to reach pre-Covid-19 levels, Vaidya said.
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CTCI, Taiwan’s leading engineering, procurement and construction (EPC) contractor for hydrocarbon and petrochemical projects, announced that five mega mono-ethylene glycol (MEG) processing modules have been successfully assembled and reached mechanical completion in July. CTCI led the modular design and fabrication of these modules, which were successfully delivered to the site in Gregory, Texas, last February. Once the entire plant comes online in Q4 2021, it will supply 1.1 million metric tons MEG annually, which will be the largest MEG plant built globally and will also be the world’s largest onshore modularized project to date.
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As we have seen GNFC is increasing its Basic Of Ethyl Acetate & Acetic Acid. Again there are chances were GNFC will Again Rise its basic of Ethyl Acetate. This is Due to a Sudden Rise in demand with tight supply.
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DOMO Europe Company has Reduced the production of Phenol Plant, The Reason behind the reduction in Phenol Production is due to Constraint In Supply Of Propylene Supply.
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Yanbu National Petrochemicals Co. (Yansab) has recently restarted its cracker; the cracker was shut on July 11, 2021 owing to technical issues. Located in Yanbu, Saudi Arabia, the cracker has an ethylene capacity of 1.38 million mt/ year and a propylene capacity of 400,000 mt/ year.
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A source informed that the company has planned to shut the units for maintenance turnaround by early-August, 2021. Further details on the duration of the shutdown could not be ascertained. The PP units have a production capacity of 1.2 million mt/ year.
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Leading companies have increased their resin-related products, and epoxy resin is expected to have a lot of room for growth in the second half of the year. On July 21, local time, a chemical spill occurred at the Dow Chemical Company in Laporte, Texas. Due to the danger of air pollution and explosion, the local emergency department required residents within a radius of half a mile (about 1.6 kilometres). Evacuate immediately. According to reports, at 7:27 am on the 21st, Dow Chemical Company reported to the local government that a chemical leak had occurred in the factory. At about 8:30 am, local emergency department officials issued an evacuation alert. It is understood that the cause of the incident was excessive pressure inside a storage tank in the factory, which caused the hydroxyethyl acrylate to leak from the storage tank valve. The storage tanker may explode if the temperature is too high. Bisphenol A: Nantong Xingchen and Sinopec Mitsui stop production, and market supply is tight. Bisphenol A is expected to continue to strengthen! Epichlorohydrin large factories are overhauled and there is a shortage of supply. The upstream raw materials propylene and glycerine are operating weakly. It is expected that epichlorohydrin will continue to operate at a high level.
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Market sources said ample PTA supply and lower profit margins from February to May could have led to lower term volumes among some PTA suppliers, though this could not be confirmed with company sources. According to data collected by market sources, the producer has been trimming its term supply since March, with the cuts varying each month. The source, however, did not reveal the total term volume and the reasons for the lower term supply. Another Chinese PTA producer, Hengli Petrochemical, also trimmed its term supply in August for the sixth consecutive month, with the cut amounting to 60%, sources earlier reported The Asian PTA market has recently started to recover with prices and margins rising amid term supply cuts, maintenance work at PTA plants, rising oil and Para xylene prices as well as poor weather conditions in east China late July, sources added.
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A stable level of activity was observed in the Asian toluene market on July 26, as the buying interest for September-loading cargoes resumed. The FOB Singapore 92 RON gasoline crack against Brent crude firmed and hovered around $8s/b. Nonetheless, buying indications expressed by blenders were not very attractive, said the same source. FOB Korea toluene physical inched up by $3/mt, standing at $770/mt in the trade session as any-September loading FOB Korea basis cargoes continued to be sought after. Meanwhile in India, offers of H2 August-arrival material were heard at FOB Korea toluene physical plus $65/mt, said a local source, while some buyers were seeking ideas around plus $60/mt cash differentials to the market source said. While Northeast Asia saw strong toluene disproportionation margins when measured against FOB Korea benzene and CFR Taiwan/China Para xylene, one market source described some signs of toluene tightness in Southeast Asia.
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As we have seen GNFC is increasing its Basic Of Ethyl Acetate & Acetic Acid. Again there are chances were GNFC will Again Rise its basic of Ethyl Acetate. This is Due to a Sudden Rise in demand with tight supply.
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