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Final locks to open on upper Mississippi River
Final locks to open on upper Mississippi River
Houston, 13 March (Argus) — Locks 3 and 7 on the upper Mississippi River will open at midnight on 15 March after being closed for repairs, allowing access to St Paul, Minnesota, for barge carriers, according to the US Army Corps of Engineers. Barges are already heading toward the locks carrying plenty of commodities, to the northern Plains for distribution. Locks 7 and 3 are located at miles 703 and 796 of the upper Mississippi River, respectively. The Corps anticipates barges passing through the locks starting over the weekend. Navigation repairs for the locks have been finished as well, the Corps said. Maintenance for the locks determined the opening date this year, as the Lake Pepin ice measurements that typically establish the date were cancelled due to unseasonably warm weather. A barge carrier mentioned some of their barges may arrive in time to cross at midnight. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Maine classifies chemical recycling as 'processing'
Maine classifies chemical recycling as 'processing'
Houston, 13 March (Argus) — Maine has classified chemical recycling as "chemical plastic processing" instead of recycling, one of the first laws of its kind. State senator Anne Carney's (D) proposal, Legislative Document 1660, passed into law on 5 March without a signature from Governor Janet Mills. Carney introduced the legislation last year in opposition to state chemical recycling laws supported by the plastics industry that reduce government oversight. Chemical recycling laws "allow facilities to evade the public permitting process, siting restrictions, reporting requirements, and operating conditions that apply to all solid waste facilities," Carney testified last May to Maine's Joint Standing Committee on Environment and Natural Resources. "LD 1660 will protect Maine from this type of harmful legislation by reinforcing Maine's solid waste hierarchy and accurately reflecting that this process and these facilities are not recycling." Chemical recycling typically uses heat and pressure to convert waste plastics that are hard to recycle mechanically into pyrolysis oil and other raw materials that can be used to create new plastics. Chemical recycling laws categorize chemical recycling as manufacturing instead of solid waste disposal, which allows for less regulatory oversight. A flurry of chemical recycling laws, supported by plastics industry organizations such as the American Chemistry Council (ACC), have been passed in US states. Last year, Kansas became the 24th state to pass a chemical recycling law. The ACC said the Maine law will inhibit "innovative technologies" that could lead to an increase in types of plastic that can be recycled. "LD 1660 contains vague language that could disincentivize investments in recycling technologies – working against much needed increases in plastics recycling, and potentially disadvantaging economic opportunities," ACC division president Ross Eisenberg told Argus . By Zach Kluver Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Malaysia's February palm oil exports, stocks hit lows
Malaysia's February palm oil exports, stocks hit lows
Singapore, 11 March (Argus) — Malaysian palm oil exports fell to a three-year low in February, along with lower production and a drop in stocks to a seven-month low. Palm oil exports fell by 25pc on the month to 1.02mn t in February, the lowest level since February 2021, according to the Malaysian Palm Oil Board (MPOB). Purchases from price-sensitive countries have fallen as the price discount for palm oil has narrowed compared with rival soft vegetable oils. Average crude palm oil prices delivered to Indian ports rose to $911/t cif in January from $883/t cif in December 2023, while crude soybean oil prices fell to $939/t cif from $976/t cif over the same period, according to the Solvent Extractors' Association of India. Malaysian palm oil inventories also dropped by 5pc on the month to a seven-month low of 1.92mn t in February, falling below the 2mn t threshold for the first time since July 2023, MPOB data show. Market participants look to Malaysia's monthly palm oil stock levels as a gauge for price direction. Malaysia is the world's second-biggest palm oil producer. A drop in production contributed to the export and stock declines. Crude palm oil (CPO) production fell by 10pc on the month to 1.26mn t in February, although output was stable from a year earlier. The month-on-month decline was mainly driven by lower production in the east Malaysian states of Sabah and Sarawak, which are the country's largest palm oil producers. Output fell by nearly 15pc each in Sabah and Sarawak from January to 291,000t and 276,000t respectively. Palm kernel production fell by 12pc on the month to 302,000t in February, while output of crude palm kernel oil fell by 14pc to 139,000t, the MPOB said. Tight palm oil supplies will likely support palm oil prices at relatively high levels over the next three months, analysts forecast last week. Malaysian exports of biodiesel also fell by 28pc on the month to 29,400t in February. Outbound trade of oleochemicals rose to 255,000t, 1pc higher from January, but palm kernel oil exports fell by 19pc on the month to 55,600t in February. By Lauren Moffitt Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Indonesia withdraws import mandate for key PE, PP
Indonesia withdraws import mandate for key PE, PP
Singapore, 8 March (Argus) — The Indonesian trade ministry has withdrawn the enforcement of a mandatory import quota for most polyethylene (PE) and polypropylene (PP) grades, along with polystyrene, polyethylene terephthalate and monoethylene glycol, which was previously expected to take effect on 10 March. The official announcement was made on 6 March and supported with a decree released today, seen by Argus . Market participants have waited for an official statement following a semi-official announcement by the trade ministry on 29 February. Imports of PP co-polymers will still require an import quota, which has been in force for years. The latest requirement of an additional surveyor report from 10 March has also been withdrawn. The trade ministry announced on 11 December that domestic PE and PP importers will need to apply for specific quotas to be able to import polymer resins from 10 March, or risk cargoes being rejected during customs clearance. Indonesia's PE and PP import dependency and the short-notice enforcement have led to objections by local and international associations, with disrupted resin supplies likely to cause a significant impact on the production and competitiveness of finished plastics. The enforcement was earlier expected to be delayed possibly by at least three months , based on local associations' appeal requests to the trade ministry. Indonesia imported 749,000t of combined liner low-density polyethylene (LLDPE) and high-density polyethylene in 2023, more than 45pc of its annual consumption, according to Argus estimates. Imports increased by 21pc from 2022. The country also imported 1.25mn t of PP in 2023, around 65pc of its annual consumption, but this was down by 5pc from 2022. Indonesian PE and PP buying interest and imports are expected to resume slowly from March with key distributors and converters holding high inventories because of an earlier stockbuild. Converters are also expected to reduce operating rates in March–April during Ramadan and the Eid al-Fitr holidays. Converters could take longer to consume their resin stocks as a result. The country will be closed for the Eid al-Fitr holidays on 8–15 April, but some converters could shut their plants earlier, further limiting import discussions. Some converters began making enquiries for resin supplies, but mainly preferred cargo arrivals from mid-April. Tighter supplies add price support The stocking up of domestic PE and PP supplies, unplanned cuts in domestic production and restricted imports led to higher prices in Indonesia during January–February. The imminent withdrawal of import mandates could lead to domestic prices falling, especially for the commodity grades, because of converters and distributors' earlier stockbuilding. Some key distributors began reducing domestic prices slightly last week following the semi-official announcement. But regional PE and PP import prices are already far below Indonesian domestic prices, so the impact on import prices may be limited. PE and PP supply at Indonesian and regional producers could tighten in April–May because of plant maintenance plans, which could balance the slowly returning demand in Indonesia and support prices. Indonesia's Chandra Asri is expected to shut its sole naphtha cracker, 736,000 t/yr PE plant and 590,000 t/yr PP plant from late April or May for a major 45-day turnaround, according to market sources. The return of Indonesian imports could help regional markets achieve some stability. Converters across southeast Asia are resisting current high PE and PP offers, citing weak downstream demand. Argus assessed southeast Asian duty-free LLDPE film prices at $1,060-1,100/t cfr southeast Asia on 8 March, $40/t higher from two months ago. Southeast Asian duty-free PP raffia prices were $1,050-1,070/t cfr southeast Asia on 8 March, $40/t higher compared with two months ago. Chinese LLDPE film and PP raffia prices were $940-950/t and $910-920/t cfr China, respectively, on 8 March, keeping stable and rising by $30/t, respectively, from two months ago. By Yee Ying Ang Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.