Engineering Aesthetics

At the Kazakhstan-China roundtable, supported by "NC "KAZAKH INVEST" JSC, 44 documents were signed, totaling over $3.7 billion. These agreements span various sectors including energy, transport, industry, agriculture, and high technology, highlighting the strengthening partnership between Kazakhstan and China. Kazakhstan Temir Zholy JSC and Lianyungang Port Group signed an agreement to invest in a container hub at Aktau port, enhancing logistics and transit shipment opportunities through Kazakhstan. KazFoodProducts Group, in collaboration with China's Myande Group, plans to construct a wheat processing plant in Kostanay, with a capacity of 430,000 tons per year, producing lysine, wheat gluten, and bioethanol. Additionally, the modernization of a corn processing plant in the Almaty region is planned, increasing capacity to 100,000 tons per year. China Huadian Corporation, with assets valued at $140 billion, aims to implement multiple energy projects, significantly boo

Sumitomo Corporation and Nippon Steel Corporation have secured a significant nine-year contract with Equinor ASA, a leading Norwegian energy company, to supply Oil Country Tubular Goods (OCTG). This partnership, spanning 35 years, emphasizes their commitment to supporting oil and gas development and Carbon Capture and Storage (CCS) projects aimed at reducing greenhouse gas emissions. Equinor, at the forefront of European energy supply and decarbonization efforts, values the high quality and reliable delivery of OCTG from Sumitomo and Nippon Steel. The collaboration underscores their joint dedication to sustainable, low-carbon steel solutions and human rights. Equinor's strategic initiatives in CCS, hydrogen production, ammonia utilization, and offshore wind energy highlight its proactive approach to addressing climate challenges while ensuring energy security. This partnership not only enhances supply chain resilience but also fosters innovation in low-carbon technologies, driving

In June, the European Quicklime market saw a notable price increase despite adequate supply and moderate demand. This uptick occurred against the backdrop of a struggling downstream construction sector, which continues to face order shortages despite slight improvements in the construction index. The rise in Quicklime prices can be attributed significantly to escalating global logistics costs. Port congestion in the Mediterranean and Asia, exacerbated by the conflict in the Red Sea region, has led to equipment shortages and increased shipping expenses. These logistical challenges have disrupted supply chains, pushing operational costs higher across industries, including Quicklime. The construction industry, a major consumer of Quicklime, remains subdued due to economic uncertainties such as high interest rates and inflation. These factors are dampening new orders, limiting the sector's ability to drive substantial demand for Quicklime even during the typical peak construction seaso

On July 2, 2024, Wuhuan Engineering Co., a subsidiary of China National Chemical Engineering Group Corporation, signed an EPC contract with KazAzot for Kazakhstan's first large-scale, modern nitrogen fertilizer complex in Astana. This project aims to bridge Kazakhstan's domestic fertilizer gap, enhance its basic and chemical industries, and contribute significantly to economic transformation. Wuhuan Engineering, based in Wuhan East Lake High-tech Development Zone (Optics Valley of China), is a state-owned leader in chemical design and construction. The company has completed over 3,000 design projects and 300 EPC projects, including over 200 overseas in countries like Vietnam, Zambia, and Tunisia. This new venture further solidifies Wuhuan's global presence and commitment to advancing the chemical industry.

Throughout the second quarter of 2024, the chemicals industry witnessed varied price trends, with significant impacts on key commodities. While Benzene prices surged, prices for Propylene, Acetone, and Phenol remained stable. In Europe, the downturn in residential construction has led to reduced employment and the exit of small enterprises, affecting market dynamics. Phenol prices settled at USD 1550 per ton by late June, prompting cautiousness among manufacturers amid anticipated reduced inquiries from the terminal market. The European construction sector, traditionally resilient, is projected to decline by 2.3% in 2024, potentially impacting Phenol demand in applications like adhesives and insulation materials. In the USA, moderate inquiries from downstream industries such as construction and automotive had a minimal impact on Phenol demand. Similarly, Chinese market demand remained steady, supported by consistent upstream raw material costs and ample finished goods inventories. Rece

In the beginning of the third quarter, Methionine prices in Western markets are poised for an increase driven by robust demand from food and feed industries downstream. Market participants are expected to raise prices to boost profitability, supporting the upward trend. Supply chain disruptions originating in Asia, including equipment shortages and port congestion, continue to constrain Methionine availability. Despite signs of improvement, these challenges persistently fall short of meeting high demand levels. Anticipated blank sailings in July and August will exacerbate supply constraints, coinciding with the peak season months that traditionally see heightened demand. Moreover, significant Peak Season Surcharges announced by carriers in July will escalate shipping costs, further lifting Methionine prices in Western markets. Rising ocean freight rates in U.S. corridors, driven by global container demand, will add to import costs from Asia, likely passed on to consumers reliant on the

In June 2024, the MTBE (Methyl Tert-Butyl Ether) market in China encountered bearish sentiments, leading to a significant downtrend and lowered prices. This decline was primarily driven by high operating rates in Methanol production, reducing production costs, and sluggish downstream demand from the gasoline sector. MTBE prices decreased by 4.1% compared to May 2024, settling at USD 930/MT FOB Dalian, China. The revival of idle production capacities during this period, including facilities like Qixiang Tengda and Maoming Shihua, contributed to supply outpacing demand. Despite these restarts, operating rates remained cautious, indicating ample existing stockpiles. The oversupply situation was exacerbated by increased Methanol production from major enterprises, a key feedstock for MTBE, which further lowered production costs. Weak demand from downstream industries, particularly in gasoline production, contributed to limited market enthusiasm. Downstream users adopted a conservative purch

 On July 2, 2024, Wuhuan Engineering Co., a subsidiary of China National Chemical Engineering Group Corporation, signed an EPC contract with KazAzot in Astana for Kazakhstan's first large-scale, modern nitrogen fertilizer complex. This key project aims to fill the domestic fertilizer gap, enhance the chemical industry, and support Kazakhstan's economic transformation. Wuhuan Engineering, located in Wuhan East Lake High-tech Development Zone (Optics Valley of China), is a state-owned leader in chemical design and construction. The company has completed over 3,000 design projects and 300 EPC projects, including more than 200 overseas in countries like Vietnam, Zambia, and Tunisia.

 The Silk Road Xinjiang Chemical Expo 2024, focusing on "dual carbon" goals and promoting smart, clean, and green development, will be held from September 6-8 at the Xinjiang International Convention and Exhibition Center. This event aims to address Xinjiang's chemical industry's challenges and promote industrial upgrading, modernization, and cluster development. Xinjiang, with significant energy resources, plays a crucial role in national energy security and the Belt and Road Initiative. The region boasts diverse chemical production bases in areas like Karamay, Jundong, Kui-Du, Shihezi, Urumqi, and more. However, the industry faces issues such as an overemphasis on upstream development, limited downstream processing, weak innovation, and outdated infrastructure. The expo will gather over 40 Xinjiang heavy chemical industrial parks and more than 500 enterprises from sectors including petroleum, petrochemical, natural gas, coal chemicals, and fertilizers. Notable compa

June 2024 presented a complex landscape for the Penicillin G Sodium market, marked by divergent global trends. While some regions showed positive indicators, overall sentiment leaned towards bearish, especially in North America, amidst oversupply and cautious demand. In Asia, prices declined due to increased production rates driven by rising costs of feedstock and equipment. This oversupply, coupled with modest demand from pharmaceutical and healthcare sectors, exerted significant downward pressure on prices, impacting key importing nations like the United States. Economic uncertainties in the U.S., including manufacturing contraction despite a strong chemicals sector, further compounded market challenges. Looking forward, analysts remain divided on future price trends. While some foresee potential demand stimulation from current low prices, others expect prolonged suppression due to oversupply and cautious buying behavior. Stakeholders in healthcare and pharmaceutical industries are a

The global market for Liquid Organic Hydrogen Carriers (LOHCs) is projected to grow at an annual rate of 13.9% from 2024 to 2031, driven by increasing demand for clean energy. LOHCs are chemical compounds that store and transport hydrogen efficiently and safely, offering high storage capacity, low flammability, and ease of refueling. Key market segments include types such as Cyclohexane, Carbazole, Trans-decalin, and Toluene-Methylcyclohexane, widely used in energy sectors for hydrogen storage and transportation. Major applications involve new energy vehicles, research institutions, and emergency response systems, with new energy vehicles being the fastest-growing segment. Geographically, the market is expanding in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Significant growth drivers include advancements in LOHC technology, government initiatives, and sustainable transportation demand. Key players in the market include Hynertech, Chiyoda Corpo

Amidst fluctuating global market conditions, the Silicon Metal industry has witnessed significant developments in June, impacting various regions differently. In Germany, Silicon Metal prices remained stable initially but saw a slight decline later in the month due to subdued demand from steel mills and increased downstream inventories. Meanwhile, China's Silicon Metal export volumes surged in May 2024, setting new records, highlighting robust growth in this sector. However, economic slowdowns in China have contributed to nuanced price fluctuations globally, with increased inventories affecting market dynamics. In the US, Silicon Metal prices maintained stability in the third week of June but experienced a marginal decline later, echoing similar market trends of subdued demand and increased inventories. Regulatory changes, including substantial duties on Russian ferrosilicon imports, are reshaping the landscape, aiming to address unfair pricing practices and subsidies. Stakeholders

From February to June 2024, the global Vitamin D industry experienced significant price fluctuations, reflecting complex supply and demand dynamics in the nutraceutical sector. Initially declining due to surplus concerns and economic uncertainties in China, Vitamin D prices stabilized and began to recover by June. The market's downturn stemmed from cautious production adjustments in China post-Lunar New Year, coupled with disrupted global supply chains and reduced international demand. This scenario created opportunities for foreign buyers amidst lowered bulk order options. In Germany and the United States, Vitamin D3 prices mirrored global trends, declining amid ample supply and sluggish demand. However, June marked a turning point with prices stabilizing and trending upward. Factors driving this recovery included disrupted import flows from major exporters, heightened demand from pharmaceutical sectors, and global shipping disruptions. Looking ahead, navigating supply chain compl

On July 2, at the 7th Plenary Meeting of the China-Kazakhstan Entrepreneurs Committee in Astana, Wuhuan Engineering Co., a subsidiary of China National Chemical Engineering Group Corporation, signed an EPC contract with KazAzot for Kazakhstan's nitrogen fertilizer complex project. The signing was witnessed by Kazakhstan's first deputy prime minister, Roman Sklyar. This project is Kazakhstan's first large-scale, modern nitrogen fertilizer complex, producing synthetic ammonia, urea, nitric acid, and ammonium nitrate using advanced international technologies and Chinese standards. It aims to fill the domestic fertilizer gap and enhance the country's chemical industry, contributing significantly to economic transformation. Wuhuan Engineering, located in Wuhan East Lake High-tech Development Zone (Optics Valley of China), is a state-owned leader in chemical design and construction. The company has completed over 3,000 large and medium-sized design projects and 300 EPC projec

Led by Goldwin and supported by Mitsubishi Corporation, Chiyoda Corporation, SK geo centric, Indorama Ventures, India Glycols, and Neste, a multinational consortium spanning five countries has established a pioneering supply chain focused on sustainable polyester fiber. This initiative marks a significant shift from fossil-based materials to renewable and bio-based alternatives, including Carbon Capture and Utilization (CCU). Neste's contribution of renewable Neste RE™ as a key ingredient for polyester production is pivotal. The consortium plans to integrate these sustainable polyester fibers into The North Face products by Goldwin, starting with sports uniforms in July 2024, with broader adoption across additional products in the pipeline. Employing a mass balancing approach ensures transparent traceability of material flows throughout the supply chain, crucial for verifying the use of sustainable and renewable inputs. By prioritizing material defossilization efforts, the consorti

In June 2024, the Asian Non Woven Fabric market displayed price stability overall, with steady monthly prices amid mixed weekly fluctuations. Early in the month, prices in China rose by 1.1% due to higher production costs driven by increased polypropylene prices and escalated ocean freight charges. However, subdued domestic demand and supply constraints limited further price increases. Later in June, prices experienced a slight downturn of about 1% as demand from downstream sectors weakened. Production data indicated a robust year-on-year increase in Non Woven Fabric output, supported by growing consumption in sectors like automobiles. Despite challenges in export markets, Non Woven Fabric exports showed resilience with positive growth in volume and value, contrasting with a slight decline in sanitary product exports. Looking ahead, analysts expect Non Woven Fabric prices in the Asian market to potentially decrease in early July due to limited feedstock support and subdued demand condi