Methyl methacrylate (MMA) and polymethyl methacrylate (PMMA)

HOUSTON (ICIS)–Sherwin-Williams expects demand during the first half of 2025 will remain choppy while the company waits for what it expects will be an inevitable inflexion point for demand for its products, the US-based paints and coatings producer said on Tuesday. "The single largest variable heading into next year is the timing and pacing of a true inflexion in the demand environment," said Heidi Petz, CEO. She made her comments during an earnings conference call. "It is only a question of when, not if." Until that inflexion comes, Sherwin-Williams expects demand will remain choppy. During the third quarter, demand from consumers undertaking do-it-yourself (DIY) improvement projects remained soft, a trend also noted by RPM International, a company that makes coatings, adhesives and sealants. Sherwin-Williams attributed the softness for its DIY products to weaken existing home sales and inflation. For auto refinish products, insurance claims have fallen because consumers are reluctant to pay deductibles to get their vehicles repaired after accidents, Petz said. PPG also noted a decline in insurance claims. Near term, Sherwin-Williams warned about the possibility that its industrial customers could undergo extend holiday shutdowns. The company did not provide more details. However, US-based paints and coatings producer PPG did note that automobile original equipment manufacturers (OEMs) started taking unscheduled and prolonged downtime in the third quarter, and the trend should continue in the fourth quarter. DEMAND FROM HURRICANE REPAIRSHurricanes initially lower demand because they shut down paint stores and customers cannot immediately return to work. Ultimately, demand does rise after customers assess damage and pursue insurance claims. After about four weeks, demand for primers increases, Sherwin-Williams said. Sundries and paint then follow. Forecasting the effects of Hurricanes Helene and Milton are difficult because they hit weeks apart in the third and fourth quarters. TALK OF RENOVATION RESURGENCELonger term, the US could see a resurgence of home renovation projects, said Jim Jaye, senior vice president of investor relations. One of the economic indicators tracked by Sherwin-Williams is the Leading Indicator of Remodeling Activity (LIRA), which is published by the Joint Center for Housing Studies of Harvard University. According to LIRA, spending for improvements and repairs on homes should expand once again by the middle of 2025. Economic growth, expected declines in inflation and higher home equity could encourage homeowners to undertake repairs and remodeling, he said. Paints and coatings are important end markets for many petrochemicals and resins. Titanium dioxide (TiO2) is used as a white pigment and to make paints opaque. Solvents used in paints and coatings include ethyl acetate (etac), butyl acetate (butac) and methyl ethyl ketone (MEK). Polyurethane coatings are made with polyols and isocyanates such as methyl diphenyl diisocyanate (MDI). Acrylic based coatings are made with methyl methacrylate (MMA), and epoxy coatings are made with epoxy resins. Other chemicals used in paints and coatings include isopropanol (IPA) and vinyl acetate monomer (VAM). Thumbnail shows paint, one of the products made by Sherwin-Williams. Image by Oleksandr Latkun/imageBROKER/Shutterstock.

22-Oct-2024

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 18 October. Turkey PP grades slide as sellers rush to sell before November Spot prices for all grades of polypropylene (PP) in Turkey suffered sizeable decreases this week as sellers made a strong push to offload material. FAKUMA ’24: Foggy path ahead for Europe polymers A thick morning mist hung over Lake Constance, as thousands gathered at the lakeside city of Friedrichshafen, Germany, for the Fakuma plastics trade fair. It is a fitting metaphor for the challenge facing the polymer industry in Europe: impossible to see more than few feet in front of you. Or, for the more pessimistically minded, the risk of a plunge into icy waters if you don’t watch your step. EPCA ’24: Europe MMA moving past pessimism but uncertainty remains The Europe methyl methacrylate (MMA) market is moving past the pessimism seen in previous years, with there being some hope about demand improvements – although this remains clouded in uncertainty. FAKUMA '24: ICIS experts predict top talking points at plastics fair A turbulent 2024 for plastics markets – from Europe's rocky road to economic recovery to Red Sea attacks spiking shipping costs and throwing trade flows out of whack – has posed big questions for demand, supply and optimism for the year to come. IPEX: Global spot index rises again on increases in NE Asia The global spot ICIS Petrochemical Index (IPEX) rose for the second consecutive week in the week ended 11 October, by 0.3%, again due to price increases in northeast Asia.

21-Oct-2024

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 11 October. Vietnam Q3 economy grows 7.4% despite heavy typhoon losses By Nurluqman Suratman 07-Oct-24 14:16 SINGAPORE (ICIS)–Vietnam’s economy expanded by 7.4% year on year in the third quarter despite hefty losses from Typhoon Yagi, with growth marking its strongest in two years on robust exports. PODCAST: UAE base oils may see higher Q4 imports; US Group II offers keenly awaited By Damini Dabholkar 07-Oct-24 14:29 SINGAPORE (ICIS)–The base oils market in UAE is likely to see an uptick in demand in the fourth quarter, with the impact of escalating tensions in the region on crude prices and Group I supply from Iran closely monitored in the weeks ahead. Asia MMA import trade to stay subdued amid weak buyer confidence By Jasmine Khoo 09-Oct-24 13:18 SINGAPORE (ICIS)–The methyl methacrylate (MMA) spot trade in Asia is likely to stay curtailed in the near term. China ethanolamines dull post holidays while SE Asia and India struggle By Clive Ong 10-Oct-24 15:13 SINGAPORE (ICIS)–The ethanolamines market in China remained slow after the country’s Golden Week holidays. Demand remained tepid while domestic prices held steady. S Korea's Hyundai Motor seeks to raise $3.3 billion from India IPO By Nurluqman Suratman 10-Oct-24 16:40 SINGAPORE (ICIS)–Hyundai Motor's subsidiary in India is seeking to raise up to won (W) 4.4 trillion ($3.3 billion) through an initial public offering (IPO) on 15 October. China Sept petrochemicals weaken; Oct demand pick-up unlikely By Yvonne Shi 11-Oct-24 12:25 SINGAPORE (ICIS)–Falling costs of crude oil and weaker-than-expected seasonal end-demand caused China's domestic petrochemical markets to weaken in September, with players expecting the current supply-demand imbalance to persist for the rest of the year. S Korea central bank cuts key interest rate to 3.25% amid slowing inflation By Jonathan Yee 11-Oct-24 17:33 SINGAPORE (ICIS)–South Korea's central bank on Friday lowered its benchmark interest rate by 25 basis points to 3.25% after holding rates for nearly two years, seeking to revitalize the economy amid moderating inflation.

14-Oct-2024

HOUSTON (ICIS)–Nearly 3.4 million outages have been reported in Florida in the aftermath of Hurricane Milton, which made landfall as a powerful Category 3 hurricane near Sarasota, Florida, south of the important fertilizer hub of Tampa. Milton may have caused more damage had it passed over Tampa, according to CoreLogic, an insurance data company. RAIL UPDATERailroad company CSX said it has relocated all of its locomotives and cars from low-lying areas in Tampa and rerouted them. CSX operations will continue in and out of Waycross from the north, east and west directions. It will continue operating into and out of the intermodal ramps at Jacksonville, Florida. On 8 October, CSX said it had taken the following steps. Closed the Central Florida ILC intermodal gate. Closed the Tampa, FL intermodal gate. Closed the TRANSFLO terminals at Tampa, Tampa Port and Sanford. Another railroad company, Norfolk Southern, has not updated its notice from 7 October, when it said it was monitoring and preparing for Hurricane Milton. FLORIDA PORTS REMAIN CLOSEDMany ports in Florida have maintained their Zulu port conditions, which means they are closed to inbound and outbound vessels. The following table summarizes the conditions among the major ports in Florida. Port Status Condition Port of Pensacola Open Normal Port Panama City Open Draft restrictions Port St Joe Open Normal Port Tampa Bay Closed Zulu SeaPort Manatee Closed Zulu PortMiami Open Yankee Port Everglades Open Yankee Port of Palm Beach Closed Zulu Fort Pierce Closed Zulu Port Canaveral Closed Zulu Jaxport Closed Zulu Port of Fernandina Closed Zulu Source: US Coast Guard. IMPACT ON FERTILIZERS, PHOSPHATES, CHEMSFor chemicals, there is some epoxy resin, phenolic resin and unsaturated polyester resin (UPR) production in Lakeland and Kathleen, Florida. Milton will make landfall far from Pensacola, Florida, which has plants that make nylon and thermoset resins. Tampa is an important hub for the US fertilizer industry, hosting corporate offices, trading, product storage, shipping and other logistical operations. Fertilizer producer Mosaic has its headquarters in Tampa. The company has not issued any statements regarding its corporate operations. A source at the fertilizer company Yara said it was shutting down its Tampa offices to comply with the evacuation orders. Near Tampa is Florida's phosphate mining operations in Bone Valley, which covers parts of Hardee, Hillsborough, Manatee and Polk counties. In all, Florida has 27 phosphate mines, of which nine are active, according to the Florida Department of Environmental Protection. Canadian fertilizer producer Nutrien has yet to restart its White Springs phosphate operations following Helene, an earlier hurricane that made landfall farther north in Florida’s Big Bend region. On 30 September, Mosaic said its Riverview operations were off line following water intrusion from a storm surge caused by Hurricane Helene. POSSIBLE DAMAGEHurricane Milton could be extremely destructive because of its winds, rainfall and storm surge. It will pass over the following metropolitan statistical areas. Region Population Tampa 3,342,963 Orlando 2,817,933 Jacksonville 1,713,240 Sarasota 910,108 Source: US Census Bureau CoreLogic, the insurance data company, said Milton’s shift to the south of Tampa could limit the magnitude of insured losses. CHEMS AND RECONSTRUCTIONFor hurricanes in general, reconstruction can translate into increased demand for many chemicals and polymers. The white pigment titanium dioxide (TiO2) is used in paints. Solvents used in paints and coatings include butyl acetate (butac), butyl acrylate (butyl-A), ethyl acetate (etac), glycol ethers, methyl ethyl ketone (MEK) and isopropanol (IPA). Blends of aliphatic and aromatic solvents are also used to make paints and coatings. For polymers, expandable polystyrene (EPS) and polyurethane (PU) foam are used in insulation. PUs are made of methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyols. High-density polyethylene (HDPE) is used in pipes. Polyvinyl chloride (PVC) is used to make cladding, window frames, wires and cables, flooring and roofing membranes. Unsaturated polyester resins (UPRs) are used to make coatings and composites. Vinyl acetate monomer (VAM) is used to make paints and adhesives.

10-Oct-2024

HOUSTON (ICIS)–Railroad company CSX is suspending operations at several of its intermodal and TRANSFLO terminals in Florida ahead of Milton, which has shifted its path away from Tampa, a major fertilizer hub. If Milton maintains its latest forecasted path, it could spare Tampa of the worst damage, according to CoreLogic, an insurance data company. Milton's maximum sustained winds are nearly 145 miles/h (230 km/h), making it a Category 4 hurricane, according to the National Hurricane Center (NHC). Milton is expected to weaken to a Category 3 hurricane and make landfall later on Wednesday south of Tampa near Sarasota, Florida, CoreLogic said. Milton will then pass over central Florida. RAIL DISRUPTIONSRail shipments through the Tampa area will likely face delays until Milton passes, CSX said. It expects multiple downed trees and power outages in the Wildwood, Lakeland and surrounding Tampa subdivisions. Lakeland and nearby Kathleen are near Tampa and are home to some thermoset resin plants. CSX has taken the following actions: Closed the Central Florida ILC intermodal gate. Closed the Tampa, FL intermodal gate. Closed the TRANSFLO terminals at Tampa and Tampa Port. Will close the Sanford TRANSFLO terminal midday on Wednesday. Another railroad company, Norfolk Southern, has not updated its notice from 7 October, when it said that it is monitoring and preparing for Hurricane Milton. MORE PORTS CLOSESome of Florida's ports on the Atlantic coast have set conditions to Zulu, meaning that they are closed to inbound and outbound vessels. The following table summarizes the port conditions along the eastern and western coasts of Florida. Port Status Condition Port of Pensacola Open Port Panama City Open X-Ray Port St Joe Open X-Ray Port Tampa Bay Closed Zulu SeaPort Manatee Closed Zulu PortMiami Open Yankee Port Everglades Open Yankee Port of Palm Beach Closed Zulu Fort Pierce Closed Zulu Port Canaveral Closed Zulu Jaxport Closed Zulu Port of Fernandina Closed Zulu Source: ports, US Coast Guard IMPACT ON FERTILIZERS, PHOSPHATES, CHEMSFor chemicals, there is some epoxy resin, phenolic resin and unsaturated polyester resin (UPR) production in Lakeland and Kathleen, Florida. Milton will make landfall far from Pensacola, Florida, which has plants that make nylon and thermoset resins. Tampa is an important hub for the US fertilizer industry, hosting corporate offices, trading, product storage, shipping and other logistical operations. Fertilizer producer Mosaic has its headquarters in Tampa. The company has not issued any statements regarding its corporate operations. A source at the fertilizer company Yara said it was shutting down its Tampa offices to comply with the evacuation orders. Near Tampa is Florida's phosphate mining operations in Bone Valley, which covers parts of Hardee, Hillsborough, Manatee and Polk counties. In all, Florida has 27 phosphate mines, of which nine are active, according to the Florida Department of Environmental Protection. Canadian fertilizer producer Nutrien has yet to restart its White Springs phosphate operations following Helene, an earlier hurricane that made landfall farther north in Florida's Big Bend region. On 30 September, Mosaic said its Riverview operations were offline following water intrusion from a storm surge caused by Hurricane Helene. POSSIBLE DAMAGEHurricane Milton could be extremely destructive because of its winds, rainfall and storm surge. It will pass over the following metropolitan statistical areas. Region Population Tampa 3,342,963 Orlando 2,817,933 Jacksonville 1,713,240 Sarasota 910,108 Source: US Census Bureau The following map shows the expected path of Milton. Source: National Hurricane Center CoreLogic, the insurance data company, said Milton's shift to the south of Tampa could limit the magnitude of insured losses. The following map compares three insured loss scenarios based on Milton's path. Source: CoreLogic The following map shows Milton's expected storm surges. Source: National Hurricane Center. The following map shows three-day rain totals. Source: CoreLogic CHEMS AND RECONSTRUCTIONFor hurricanes in general, reconstruction can translate to increased demand for many chemicals and polymers. The white pigment titanium dioxide (TiO2) is used in paints. Solvents used in paints and coatings include butyl acetate (butac), butyl acrylate (butyl-A), ethyl acetate (etac), glycol ethers, methyl ethyl ketone (MEK) and isopropanol (IPA). Blends of aliphatic and aromatic solvents are also used to make paints and coatings. For polymers, expandable polystyrene (EPS) and polyurethane (PU) foam are used in insulation. Polyurethanes are made of methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyols. High density polyethylene (HDPE) is used in pipe. Polyvinyl chloride (PVC) is used to make cladding, window frames, wires and cables, flooring and roofing membranes. Unsaturated polyester resins (UPR) are used to make coatings and composites. Vinyl acetate monomer (VAM) is used to make paints and adhesives. Thumbnail shows an image of Hurricane Milton. Image by the National Hurricane Center. 

09-Oct-2024

HOUSTON (ICIS)–Ports along Florida's Gulf Coast are closed to vessel traffic as Milton approaches the state's fertilizer hub in Tampa as a Category 4 hurricane. Port Tampa Bay and the nearby SeaPort Manatee have set Port Condition Zulu, which means that they are shut down to inbound and outbound vessel traffic. The following table shows the conditions of some of the ports in Florida. Port Status Condition SeaPort Manatee Closed Zulu Port Tampa Bay Closed Zulu PortMiami Open Yankee Port Everglades Open Yankee Port of Palm Beach Open Yankee Fort Pierce Open Yankee Port Canaveral Open Yankee Jaxport Open Yankee Port of Fernandina Open Yankee Source: Ports, US Coast Guard LANDFALL ON WEDNESDAYMilton is expected to make landfall on Wednesday near Tampa, Florida, after weakening to a Category 3 hurricane, according to the meteorological firm AccuWeather. Milton will remain a major hurricane when it makes landfall, with maximum sustained wind speeds of 111-129 miles/hour (178-208 km/hour). The following map shows the expected path of Milton Source: National Hurricane Center IMPACT ON FERTILIZERS, PHOSPHATES, CHEMSFor chemicals, there is some epoxy resin, phenolic resin and unsaturated polyester resin production in Lakeland and Kathleen, Florida. Both are near Tampa. Milton will make landfall far from Pensacola, Florida, which has plants that make nylon and thermoset resins. Tampa is an important hub for the US fertilizer industry, hosting corporate offices, trading, product storage, shipping and other logistical operations. Fertilizer producer Mosaic has its headquarters in Tampa. The company has not issued any statements regarding its corporate operations. A source at the fertilizer company Yara said it was shutting down its Tampa offices to comply with the evacuation orders. Near Tampa is Florida's phosphate mining operations in Bone Valley, which covers parts of Hardee, Hillsborough, Manatee and Polk counties. In all, Florida has 27 phosphate mines, of which nine are active, according to the Florida Department of Environmental Protection. Canadian fertilizer producer Nutrien has yet to restart its White Springs phosphate operations following Helene, an earlier hurricane that made landfall farther north in Florida's Big Bend region. On 30 September, Mosaic said its Riverview operations were offline following water intrusion from a storm surge caused by Hurricane Helene. RAIL CONTINUES RUNNINGOn 7 October, CSX said it is maintaining normal operations at its yards and terminals. Meanwhile, the railroad company is putting its safety protocols in place. Also on 7 October, Norfolk Southern warned customers to prepare for delays if they have shipments moving through the southeastern US. RECONSTRUCTION FOLLOWING MILTONHurricane Milton could be extremely destructive because of its winds, rainfall and storm surge. It will pass over the following metropolitan statistical areas. Region Population Tampa 3,342,963 Orlando 2,817,933 Jacksonville 1,713,240 Sarasota 910,108 Source: US Census Bureau Tampa and Sarasota could suffer storm surges of 10-15 feet (3.0-4.6 meters), according to the National Hurricane Center. Storm surges of 3-5 feet could hit the areas from Port Canaveral northwards, including Jacksonville, Florida. AccuWeather warned that the hardest hit areas could have storm surges of 23 feet. "We are very concerned that Hurricane Milton could become one of the most damaging and costliest storms that Florida has ever seen," said Jon Porter, AccuWeather chief meteorologist. “Our forecast for 120 miles per hour to 140 miles per hour wind gusts will result in significant destruction. We expect roofs to fail, as well as long-lasting and widespread power outages. These damaging winds will push inland right along the Interstate 4 corridor,” For hurricanes in general, reconstruction can translate to increased demand for many chemicals and polymers. The white pigment titanium dioxide (TiO2) is used in paints. Solvents used in paints and coatings include butyl acetate (butac), butyl acrylate (butyl-A), ethyl acetate (etac), glycol ethers, methyl ethyl ketone (MEK) and isopropanol (IPA). Blends of aliphatic and aromatic solvents are also used to make paints and coatings. For polymers, expandable polystyrene (EPS) and polyurethane (PU) foam are used in insulation. Polyurethanes are made of methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyols. High density polyethylene (HDPE) is used in pipe. Polyvinyl chloride (PVC) is used to make cladding, window frames, wires and cables, flooring and roofing membranes. Unsaturated polyester resins (UPR) are used to make coatings and composites. Vinyl acetate monomer (VAM) is used to make paints and adhesives. POTENTIAL FOR DISRUPTION TO GULF OILHurricane Helene disrupted US oil and gas production in the Gulf of Mexico even though it passed through the eastern portion of the body of water. Hurricane Milton could have the same potential as it approaches the US. Additional reporting by Mark Milam Thumbnail shows Hurricane Milton. Image by National Hurricane Center.

08-Oct-2024

HOUSTON (ICIS)–Milton strengthened on Monday into a powerful Category 4 hurricane, and it is expected to continue strengthening before making landfall by midweek near Tampa, Florida, a major fertilizer hub that was drenched by an earlier major hurricane. That earlier hurricane, Helene, made landfall on September 26 far to the north of Tampa. However, Tampa still saw storm surges of 6-10 feet (1.8-3.0 meters), according to AccuWeather, a meteorology firm. Tampa and other ports along Florida's Gulf Coast had shut down because of Helene. AccuWeather estimates that Hurricane Helene caused $225 billion to $250 billion of damage and economic loss in Florida and the southeastern US. As of September 30, fertilizer companies were assessing the damage caused by Hurricane Helene. A week later, they will now prepare for another major hurricane that will pose a greater risk. AccuWeather is warning that, due to Milton, the Tampa Bay region could be hit by a storm surge of 10-15 feet, wind gusts of 120-140 miles/hour (193-225 miles/hour) and more than 2 feet (60 cm) of rain. "Milton may be a historic, once-in-a-lifetime storm for Floridians," said Jon Porter, AccuWeather chief meteorologist. "Milton has the potential to become one of Florida's most damaging and costly hurricanes." For Tampa, the magnitude of Milton's storm surge will depend on its path, according to AccuWeather. If it makes landfall south of Tampa, it will cause dangerous, but not extreme, storm surges. If landfall is north of Tampa, parts of the Bay could suffer from storm surges of 20 feet, AccuWeather said. FERTILIZER HUB, PHOSPHATES AT RISKTampa is an important hub for the US fertilizer industry, hosting corporate offices, trading, product storage, shipping and other logistical operations. Near Tampa is Florida's phosphate mining operations in Bone Valley, which covers parts of Hardee, Hillsborough, Manatee and Polk counties. In all, Florida has 27 phosphate mines, of which nine are active, according to the Florida Department of Environmental Protection. For chemicals, there is some epoxy resin, phenolic resin and unsaturated polyester resin production in Lakeland and Kathleen, Florida. Both are near Tampa. Milton will make landfall far from Pensacola, Florida, which has plants that make nylon and thermoset resins. PORT TAMPA BAY REMAINS OPENPort Tampa Bay remains open to inbound and outbound vessel traffic, but it has set Port Condition X-RAY. That means gale force winds that could disrupt maritime operations could occur in the next 48 hours. SeaPort Manatee, a deepwater port on Tampa Bay, also set Port Condition X-Ray. It handled bulk, breakbulk and container traffic. RAIL STILL RECOVERING FROM HELENEOn October 4, railroad company CSX warned customers to expect delays despite progress in restoring power and clearing trees. Disruptions to operations are concentrated in the Carolinas. Railroad company Norfolk Southern said it has already started monitoring Hurricane Milton, although its lines are operating as scheduled. POTENTIAL FOR DISRUPTION TO GULF OILHurricane Helene disrupted US oil and gas production in the Gulf of Mexico even though it passed through the eastern portion of the body of water. Hurricane Milton could have the same potential as it approaches the US. RECONSTRUCTION DEMAND FOR CHEMSFor hurricanes in general, reconstruction can translate to increased demand for many chemicals and polymers. The white pigment titanium dioxide (TiO2) is used in paints. Solvents used in paints and coatings include butyl acetate (butac), butyl acrylate (butyl-A), ethyl acetate (etac), glycol ethers, methyl ethyl ketone (MEK) and isopropanol (IPA). Blends of aliphatic and aromatic solvents are also used to make paints and coatings. For polymers, expandable polystyrene (EPS) and polyurethane (PU) foam are used in insulation. Polyurethanes are made of methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyols. High density polyethylene (HDPE) is used in pipe. Polyvinyl chloride (PVC) is used to make cladding, window frames, wires and cables, flooring and roofing membranes. Unsaturated polyester resins (UPR) are used to make coatings and composites. Vinyl acetate monomer (VAM) is used to make paints and adhesives. Thumbnail shows the forecasts path of Hurricane Milton. Image by the National Hurricane Center.

07-Oct-2024

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 4 October. INSIGHT: Bold policy moves might not arrest China economic slowdown By Nurluqman Suratman 30-Sep-24 13:51 SINGAPORE (ICIS)–In a bold move to revitalize its economy and restore investor confidence, China unveiled a comprehensive package of monetary and fiscal measures less than a week before the country goes on a week-long holiday. Focus: China urea to stay weak on ample supply and low demand By Rita Wang 30-Sep-24 18:14 SINGAPORE (ICIS)–China's urea market rebounded slightly recently, but the outlook for the spot market remains weak due to high inventories, restricted exports and the upcoming lull season. Asia EDC spot demand likely to taper; regional supply to improve in end-2024 By Jonathan Chou 01-Oct-24 18:15 SINGAPORE (ICIS)–Asia's spot EDC demand may be capped in the near term with buyers adequately stocked. Market players are watching out for ripple effects from China’s recent blitz of stimulus measures that may impact conditions for main derivative polyvinyl chloride (PVC). Asia PVC conditions may see limited impact from China stimulus measures By Jonathan Chou 02-Oct-24 13:48 SINGAPORE (ICIS)–Some bullishness was observed recently in China’s domestic market, in part due to its government’s stimulus measures. India faces BOPP film overcapacity on start-ups in next two years By Aswin Kondapally 02-Oct-24 22:11 MUMBAI (ICIS)–India is facing an oversupply of biaxially oriented polypropylene (BOPP) film, with nine new domestic production lines set to come on stream, which will exert heavy pressure on the market over the next two years. Asia MMA prices see first sharp fall in 2024 on bearish market conditions By Jasmine Khoo 03-Oct-24 10:06 SINGAPORE (ICIS)–Asia methyl methacrylate (MMA) spot import prices were assessed significantly softer in the week ended 27 September, reflecting significant price falls for the first time in 2024. INSIGHT: China Sept small-to-medium factories' output shrinks on poor demand By Jonathan Yee 04-Oct-24 11:00 SINGAPORE (ICIS)–Manufacturing output of China’s small to medium enterprises went back to into contraction mode in September, underscoring continued and widespread weakness in the world’s second-biggest economy.

07-Oct-2024

LONDON (ICIS)–Ahead of the approaching European Petrochemical Conference (EPCA) in Berlin 7-10 October, ICIS editors discuss market conditions in a variety of solvent markets. Market updates on methyl ethyl ketone (MEK), methyl isobutyl ketone (MIBK), isopropanol (IPA), phenol, acetone, toluene, mixed xylenes, glycol ethers and propylene glycol ethers, butyl acetate and ethyl acetate Trade flows and impact of freight rate movements Overcapacity versus low demand levels Upcoming maintenance programs In this episode, Jane Massingham talks to editors Nick Cleeve, Jane Gibson, Zubair Adam, Cameron Birch and Marion Boakye.

27-Sep-2024

HOUSTON (ICIS)–More than 4 million outages were reported in the southeastern US on Friday after Hurricane Helene made landfall as a powerful Category 4 storm in northwestern Florida. The southeastern US does not have a lot of chemical production. But such widespread power outages, in addition to disruptions caused by flooding, will lower demand for plastics and chemicals more broadly. The power outages are concentrated in the US states of South Carolina, Georgia, Florida and North Carolina, according to the website poweroutage.us. Among the few chemical plants near Helene's landfall site are a crude sulphate turpentine refinery and a crude tall oil (CTO) refinery that Kraton owns in Panama City, Florida. Tall oil is a feedstock fatty acids, renewable diesel and sustainable aviation fuel (SAF). Kraton has not returned requests for comment in regard to its preparations for Helene. Since Helene made landfall, it has weakened into a tropical storm, with maximum sustained wind speeds of 45 miles/hour (75 km/hour), according to the National Hurricane Center. The following map shows its projected path. Source: National Hurricane Center PORT CLOSURESInbound and outbound traffic at Port Tampa Bay ceased ahead of the storm, and the port's shipping channels were closed. Tampa is an important hub for the US fertilizer industry, hosting corporate offices, trading, product storage, shipping and other logistical operations. Other port closures include Panama City, St Joe, St Petersburg, Manatee and Key West on Florida's west coast, as well as Fernandina, Jacksonville and Canaveral on Florida's east coast. ENERGY DISRUPTIONS The following table shows the disruptions to US Gulf production that were caused by Helene, according to the Bureau of Safety and Environmental Enforcement (BSEE). Total % of US Gulf Oil, bbl/day 441,923 25.25% Gas, million cubic feet/day 363.39 19.81% Source: BSEE Total % of US Gulf Platforms evacuated 27 7.28% Rigs evacuated 1 20% Source: BSEE The Gulf of Mexico accounts for 14% of US production of crude oil and 5% of total dry gas production, according to the Energy Information Administration (EIA). RAIL DISRUPTIONS Railroad company CSX planned to close its TRANSFLO terminals in Tampa and Tampa Port on Thursday. Railroad company Norfolk Southern said that customers with shipments moving through the southeast and mid-Atlantic should prepare for delays. RECONSTRUCTION AND CHEM DEMANDHurricane Helene's current path could put $5.64 billion worth of housing at risk to storm surge flooding, an insurance data company said on Wednesday. Nearly 25,000 residential properties in the Tallahassee and Homosassa Springs metropolitan areas are at risk, said CoreLogic. “Helene has the potential to become a once-in-a-generation storm,” said Jon Porter, chief meteorologist for the meteorology firm AccuWeather. It estimates that most of Florida and much of the southeastern US will be exposed to winds reaching 40-60 miles/hour. AccuWeather expects that most of Florida and all of the states of Georgia, South Carolina and North Carolina are at risk for tornados. For hurricanes in general, reconstruction can translate to increased demand for many chemicals and polymers. The white pigment titanium dioxide (TiO2) is used in paints. Solvents used in paints and coatings include butyl acetate (butac), butyl acrylate (butyl-A), ethyl acetate (etac), glycol ethers, methyl ethyl ketone (MEK) and isopropanol (IPA). Blends of aliphatic and aromatic solvents are also used to make paints and coatings. For polymers, expandable polystyrene (EPS) and polyurethane (PU) foam are used in insulation. Polyurethanes are made of methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI) and polyols. High density polyethylene (HDPE) is used in pipe. Polyvinyl chloride (PVC) is used to make cladding, window frames, wires and cables, flooring and roofing membranes. Unsaturated polyester resins (UPR) are used to make coatings and composites. Vinyl acetate monomer (VAM) is used to make paints and adhesives. Thumbnail shows Helene before it made landfall. Image by National Hurricane Center.

27-Sep-2024