Bitumen exporter to Asia
What would happen if you were a Bitumen exporter to Asia ?
In this article, we will look at the bitumen market from a different angle. We also will explore
the items that affect the global oil and bitumen market.
The outlook for PVC demand in Europe
This is the first item in this regard. As we all know,
all the petrochemical products are related to each other. To be more specific,
the revival of construction activity and
downstream sectors has improved the demand for PVC in continental Europe. Demand for polyvinyl chloride
(PVC piping) has increased in the third quarter of 2020 following the revival of downstream sectors,
including key constructions, NIPNA reported, quoting IEC. Moreover, talks on the price of August contracts continue,
while initial expectations are in line with or higher than the cost of feed.
Bitumen exporter to Asia
As a matter of fact, a stronger outlook has changed with
business activity in southern Europe following rising summer temperatures; although,
there are signs that August is always stronger than normal as
market participants re-stockpile after long dormant activity in the second quarter. Needless to mention that vendors independently increase their bid prices,
which is equivalent to an increase in the cost of ethylene or higher,
and this occurs because of a balanced or limited market.
Situations for bitumen exporter to Asia
“Negotiations are still going on; however,
there seems to be a price increase of €15 to €20 per ton for August,
although it is slightly ahead of the change in feed costs,” one producer said. Generally, demand for construction increased in July and August,
reaching normal levels at this time of year,
while the effects of quarantine measures against the outbreak of coronavirus have diminished.
“Demand is very favorable,
in part due to the strong construction economy in northwestern Europe,”
said one manufacturer. Corona postpones implementation of Indian petrochemical projects
Bharat Petroleum has postponed the implementation of
two Kochi petrochemical projects off the southwest coast of India due to quarantine caused
by the Coronavirus epidemic. The start-up phase of the $740 million petrochemical
unit of the 310,000-barrel Kochi refinery owned by the
Bharat Petroleum Refining Company has been different.
Bitumen exporter to Asia
The project, which has an annual production capacity of 160,000 tons of
acrylic acid, 212,000 tons of oxalcol and acrylate,
was to launch in October 2019 but they have postponed it
until April or September this year. According to the report, the project, which has the
technical knowledge (license) of a European company,
its experts should be present to launch the project,
but due to travel restrictions for the outbreak of the global coronavirus,
they have not traveled to India because the government travels
has banned the international until at least August 31.
Bitumen exporter to Asia
Bharat Petroleum Refining Company announced that
the launch of the petrochemical project would take three
months from the resumption of foreign travel. Besides, Kochi Refinery and Petrochemical Complex,
owned by the state-owned Bharat Petroleum Refining Company of India, produces 500,000 propylene a year,
half of which feeds a unit of propylene derivatives,
while the rest is to feed a polypropylene plant.
