Author: Zhao Feifei Source: Xinhua November 7, 2019 Petroleum Exporting Countries (OPEC) 5 release 2019 World Oil Outlook report, lowered its forecast for global oil demand in the medium and long term future, is expected to 2040 average daily global oil Demand is 110.6 million barrels, 1.1 million barrels below the 2018 forecast.　　 The report believes that the world's main energy demand will continue to grow in the future, and oil will remain the main energy source. The report predicts that from 2018 to 2040, solar, wind, and geothermal energy will be the fastest growing sources of demand, with an average annual growth rate of 6.9%. The report said that driven by factors such as battery cost reduction and policy support, the future electric vehicle market will develop rapidly. It is expected that by 2040, nearly half of the new passenger vehicles in OECD countries will be electric vehicles. Read More

Source: Trade Remedy and Investigation Bureau, Ministry of Commerce 2019-06-18 11:27 On June 12, 2019, the Ministry of Production and Labor of Argentina issued Announcement 2019/64, deciding to initiate an anti-dumping investigation on household electric ovens imported from China. The tax number of the product in question is 85166000. The enterprise in question is required to complete the answer sheet in accordance with the requirements of the investigation authority, and submit the questionnaire to the Afghan party within 30 days from the time the questionnaire is received. The answer sheet and relevant evidence must be translated into Spanish by a translator certified by the Azerbaijani State and certified by the Afghan Embassy or Consulate in China. The interested parties involved in the investigation should also attach certification documents that prove their eligibility for signing rights along with the materials. The Afghan Party requires that the products involved in the case enter the customs 60 days after the announcement of the case to provide proof of origin. For the announcement of the case, please refer to the following link: http://servicios. Read More

Author: Pang Xiao Source: China Chemical Industry News November 2019 Japan 04 new network news recently, ethylene glycol market demand slowdown, compounded by the new device is also put into operation for some time Asian ethylene market will face Greater pressure.　　 In the fourth quarter of this year, two major ethylene glycol plants will be completed and put into operation in Asia, with a total capacity of 1.65 million tons per year. According to industry insiders, the National Petroleum Corporation of Malaysia is in the trial operation of a new 750,000-ton/year ethylene glycol plant. The device is expected to be officially put into production in November. China Hengli Petrochemical's new set of 900,000 tons/year ethylene glycol plant will also be put into operation in November. Asian traders said: \"The upcoming new supply is putting pressure on the market, and Asian ethylene glycol producers may be forced to cut operating rates when the price gap between ethylene glycol and naphtha narrows.\" It is said that ethylene glycol is currently shipping in the Asian market in November Read More

Source: China National Chemical News May 23, 2019 　　 Xinhua News Agency Recently, An Xunsi said that due to rising crude oil prices, coupled with continued arbitrage transactions with the United States, Asian pure benzene prices continued to rise. The spot price climbed to US$650/ton (FOB, South Korea), and at the end of March due to the commissioning of a new device in China, the price was only US$544.5/ton.　　 Against the backdrop of positive signals from China’s economic data, OPEC-led crude oil production cuts, and supply worries triggered by US sanctions on Iran and Venezuela, stronger crude oil futures prices have laid the foundation for higher pure Asian benzene prices. U.S. crude oil futures prices exceeded $66/barrel, and Brent crude oil prices also stood at a high of $74/barrel in recent transactions. The increase in exports supports the continuous inversion of FOB Korea prices and CFR China prices. The current price difference is about US$20/ton. And under normal circumstances, CFR China price than FO Read More

Author: Pang Xiaohua Source: China Chemical Industry News November 4, 2019 by the tanker rates soaring crude oil premium dual factors - by the impact of soaring oil tanker freight rates, stock analysts recently lowered its earnings outlook for Asian refiners. The cost increase squeezes the refining profits. Affected by this, the stock prices of top Asian oil refining companies such as Sinopec, Japan’s JXTG Holdings and South Korea’s SK Innovation may be under pressure in the coming months.　　On September 25, the United States imposed sanctions on Chinese tanker companies, which caused merchants who had already booked Chinese tankers to seek other tankers, resulting in a surge in immediate demand in the tanker market, which led to a sharp increase in freight rates on major global routes. This has virtually increased the cost of transportation for refiners, and the spot freight rates for crude oil from the Middle East to Asia have soared to record highs.　　At the same time, Saudi Arabia’s oil facilities were attacked, resulting in a 5% reduction in global oil supply, stimulating Read More

Source: China Chemical Industry News May 23, 2019 Sinochem New Network News Uzbekistan Ministry of Energy, and a consortium composed of Uzbekistan Gas Company, Uzkimyosanoat, Air Products Company and Enter Engineering Company said that they will jointly build a methanol to olefin ( MTO) technology petrochemical complex.　　The plant will use its domestic natural gas supply to produce chemicals, and realize Uzbekistan's economic diversification and reduce dependence on imported chemicals.　　 It is reported that the joint consortium plans to build a 500,000-ton/year MTO plant that will produce a variety of chemicals including polymers and synthetic rubber. In February 2019, President Shavkat Mirziyoyev of Uzbekistan signed an executive order to establish the Ministry of Energy after a comprehensive adjustment of the management structure of the fuel and energy sector in Uzbekistan Read More

Source: China Chemical Industry News May 23, 2019 Sinochem New Network News According to the latest MRC data analysis report, in the first four months of 2019, Russian polypropylene (PP) imports fell by 7% year-on-year, of which The biggest drop. Although the import of Russian polypropylene in April increased from 13,900 tons in March to 18,700 tons. However, compared with 62,000 tons in the same period last year, the total amount of polypropylene imported from Russia from January to April this year decreased to 57,900 tons.　　In April, Russia imported about 5,600 tons of polypropylene block copolymers, compared with 3,500 tons in March, due to increased demand for pipes and injection molded polypropylene. From January to April this year, Russia imported polypropylene block copolymer reached 16,000 tons, compared with 16,200 tons in the same period last year.　　 Due to the increase in pipeline polypropylene procurement, the import of random copolymers of polypropylene in April was about 36 Read More

On October 23, the Technical Cooperation Bureau of the Gulf Cooperation Council's Anti-International Trade Damage Act issued an \"Official Gazette\" to launch safeguards investigations on imported steel products. The GCC safeguards cover most steel products. Mainly include: (1) hot rolled flat material, (2) cold rolled flat material; (3) metal coating; (4) organic coating; (5) rebar and wire; (6) round, square and rectangular Bars; (7) sections (Sections); (8) corner sections; (9) welded pipes and seamless pipes (including those used to transport water, natural gas and oil). For details, please contact China Iron and Steel Association, Tel: 010-65131936, Fax: 010-65133847. Read More

Source: China National Chemical News May 23, 2019 Sinochem New Network News According to the latest data released by the German Chemical Industry Association (VCI), German chemical production in 2018 increased by 3.6% compared with 2017. Regardless of pharmaceuticals, production fell by 2.2% year-on-year. Sales increased by 3.8% year-on-year, reaching 2030 billion euros (about 228 billion US dollars). Its domestic sales increased by 1.9% year-on-year to 76.3 billion euros. At the same time, exports increased by 5% to 126.7 billion euros. There are 462,553 employees in the German chemical industry, an increase of 2.1% over the end of 2017.　　VCI said that the capacity utilization rate of the chemical industry rose to 84.1% in 2018. It is expected that the German chemical production will drop by 3.5% in 2019. Producer prices are expected to rise by 1%. As a result, sales revenue will fall by 2.5% to 197.9 billion euros. Read More