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BLOGS - ALL PRODUCT NEWS

Korea Petrochemical halts production at PP units

On 01 Oct 2022 at 08:40 IST

Korea Petrochemical Ind Co (KPIC) has taken offstream its Polypropylene (PP) units in Ulsan.A Polymerupdate source in South Korea informed a team member, “The company has recently halted operations at the units for maintenance. Further details on duration of........
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Economic indicators point to multiple challenges ahead

On 30 Sep 2022 at 06:25 IST

The Reserve Bank of India (RBI), in today’s Monetary Policy Committee (MPC) meeting, highlighted the vulnerability of the Indian economy due to the rapidly changing global macroeconomic environment in which the heightened geopolitical tensions taking center........
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Ethylene prices down adjust by Euro 20/mt in Northwest Europe

On 30 Sep 2022 at 05:17 IST

Energy news:Crude oil prices inched lower on Thursday on indications that the Chinese economy had slowed down. The fall in prices was also driven by expectations that oil and gas production would resume in the Gulf of Mexico as the threat of Hurricane Ian........
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Sinopec Yanshan takes No.2 PP unit offstream

On 30 Sep 2022 at 08:40 IST

Sinopec Yanshan Petrochemical has shut its No.2 Polypropylene (PP) unit in Beijing.A Polymerupdate source in China informed a team member, “Operations at the unit were halted for a maintenance turnaround on September 22, 2022. Further details on the duration........
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Ethylene prices drop sharply in Northeast Asia

On 30 Sep 2022 at 08:30 IST

On Thursday, ethylene prices plunged in Northeast Asia.On Thursday, CFR North East Asia ethylene prices were assessed at the USD 845-855/mt levels, a sharp day on day fall of USD (-40/mt). An industry source in Asia informed a Polymerupdate team member,........
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Ethylene prices decline USD 10/mt in Asia

On 29 Sep 2022 at 05:17 IST

Energy news:Crude oil prices gained sharply on Wednesday with the shutting of offshore oil and gas production in the Gulf of Mexico as Hurricane Ian made landfall in the region. The rise in prices was also driven by a fall in the value of the US dollar. Brent........
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BoE’s bond purchase decision arrests the pound sterling’s historic fall, select equity markets get a boost

On 29 Sep 2022 at 03:20 IST

The surprise intervention from the Bank of England (BoE) ignited global equity and bond market sentiment albeit temporarily as the recession-feared worldwide economy awaited ‘united and more robust’ actions from other economies to control inflation and........
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Shenhua Xinjiang brings PE & PP units onstream

On 29 Sep 2022 at 08:40 IST

Shenhua Xinjiang Energy has restarted its low density polyethylene (LDPE) and polypropylene (PP) units.A Polymerupdate source in China informed a team member, “The units resumed operations recently following a turnaround. They were shut for maintenance on........
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Ethylene prices quote lower in Asia

On 29 Sep 2022 at 08:30 IST

On Wednesday, ethylene prices were assessed lower in Asia.An industry source in Asia informed a Polymerupdate team member, “Prices fell on the back of bearish crude values coupled with sluggish regional buying sentiments.”On Wednesday, CFR North East Asia........
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European leaders term Nord Stream gas leakages ‘deliberate’, sniff energy war

On 28 Sep 2022 at 06:15 IST

Weeks after Russian President Vladimir Putin’s threat of permanent closure of the Nord Stream gas pipeline to halt natural gas supply to Europe forever, Moscow’s state-owned pipeline Nord Stream 1 developed at least three leaks late on Tuesday. Reports said........
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Linear Low Density Polyethylene prices gain by USD 10-20/mt in parts of Asia

On 28 Sep 2022 at 05:17 IST

Energy news:Crude oil prices rose sharply on Tuesday as oil majors shut their offshore oil and gas platforms in the Gulf of Mexico with Hurricane Ian fast advancing towards the region. Brent crude prices rose by USD 2.21 settling at $86.27 per barrel while........
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Sinking rupee invites RBI’s speedy interest rate hikes, dollar selling

On 28 Sep 2022 at 04:41 IST

With the rupee tanking to hit a fresh low on Wednesday, the Reserve Bank of India (RBI) may be prompted to take immediate measures to curb the Indian currency from further falling. Experts vouch for speedy interest rate hikes and dollar selling among other........
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Ningbo Kingfa Advanced brings PDH plant onstream

On 28 Sep 2022 at 08:40 IST

Ningbo Kingfa Advanced Materials has restarted its propane dehydrogenation (PDH) plant in Zhejiang.A Polymerupdate source in China informed a team member, “Operations at the plant resumed recently following a turnaround. The plant was shut for maintenance on........
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SM prices edge lower in Asia

On 28 Sep 2022 at 08:30 IST

On Tuesday, SM prices witnessed a fall in Asia.An industry source in Asia informed a Polymerupdate team member, “Prices were assessed lower on the back of bearish buying sentiments in the Asian markets.”On Tuesday, FOB Korea SM prices were assessed at the USD........
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Styrene Monomer (SM) prices plunge by USD 80/mt in Asia

On 27 Sep 2022 at 05:17 IST

Energy news:Crude oil prices fell on Monday on the back of a rise in the value of the US dollar. Brent crude prices fell by USD 2.09 settling at $84.06 per barrel while WTI futures decreased by USD 2.03 settling at $76.71 per barrel.- On Monday, open spec........
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India moves to Africa and the Middle East for cheap crude imports, lowers Russian oil purchase

On 27 Sep 2022 at 04:46 IST

After a sharp increase in May and June, India is gradually moving away from the spot purchase of Russian-origin crude oil. In the last three months to September, India’s import of Russian crude oil has declined significantly due to high freight rates between........
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Iran offers India’s ONGC Videsh consortium a 30% stake in the Farzad-B gas field

On 27 Sep 2022 at 09:52 IST

Fourteen years after the discovery of a giant oil field in Iran, India’s ONGC Videsh Ltd and its partners are seeing a ray of hope for the development of the Farzad-B gas field in the Persian Gulf. After years of negotiations, Iran has now agreed to offer 30........
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ZRCC brings No.2 PP unit onstream

On 27 Sep 2022 at 08:40 IST

Sinopec Zhenhai Refining and Chemical (ZRCC) has restarted its No. 2 Polypropylene (PP) unit.A Polymerupdate source in China informed a team member, “The unit resumed operations on September 22, 2022. It was shut for maintenance on September 2, 2022.”Located........
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SM prices plunge in Asia

On 27 Sep 2022 at 08:30 IST

SM prices dropped sharply in Asia, on Monday.An industry source in Asia informed a Polymerupdate team member, “Bearish energy rates and a fall in benzene prices pushed SM prices lower in Asia.”On Monday, FOB Korea SM prices were assessed at the USD........
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Ethylene prices decline by USD 50-70/mt in Asia

On 26 Sep 2022 at 05:17 IST

Energy news:Crude oil prices plunged on Friday as central banks around the world raised key interest rates to control surging inflation. The sharp decline in prices was also led by a rise in the value of the US dollar. Brent crude prices fell by USD 4.31........
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PTTGC brings No.1 cracker onstream

On 26 Sep 2022 at 08:40 IST

PTT Global Chemical (PTTGC) has restarted its No.1 cracker in Map Ta Phut.A Polymerupdate source in Thailand informed a team member, “The cracker was brought onstream recently. It was shut around September 5, 2022 owing to a technical glitch.”Located at Map........
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Ethylene prices tumble in Asia

On 26 Sep 2022 at 08:30 IST

Last week, ethylene prices plunged in the Asian region.An industry source in Asia requesting to remain unidentified informed a Polymerupdate team member, “The sharp price fall was prompted by a rise in deep sea cargoes weighing negatively on buying........
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Sinopec Maoming brings No. 2 cracker onstream

On 24 Sep 2022 at 08:40 IST

Sinopec Maoming Petrochemical has restarted its No. 2 cracker in Guangdong.A Polymerupdate source in China informed a team member, “The company recently resumed operations at the cracker. The cracker was shut around June 11, 2022 owing to a fire.”Located at........
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PP prices decline by Euro 10-30/mt in Europe

On 23 Sep 2022 at 05:17 IST

Energy news:Crude oil prices inched higher on Thursday as the announcement of additional troop mobilization for the Ukraine war by Russian President Vladimir Putin and his nuclear rhetoric, raised fears of further tightening of oil and gas supplies. Brent........
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Manufacturing PMI indicates the EU economy already in recession

On 23 Sep 2022 at 05:05 IST

The excessive slowdown in manufacturing output across Europe due to the worsening energy crisis in the region, points to the Eurozone economy already undergoing an economic recession. This claim got strengthened by a recent survey which showed a further........
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Suspension grade PVC imports from Japan under watch on talks of a review of India-Japan CEPA agreement

On 23 Sep 2022 at 12:32 IST

A dark cloud has started shadowing India’s import of Suspension polyvinyl chloride (PVC) from Japan after the Indian Minister of Commerce and Industry Piyush Goyal announced recently the need for a review of the bilateral trade agreement between the two Asian........
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Oriental Energy resumes production at No.2 PP unit

On 23 Sep 2022 at 08:40 IST

Oriental Energy has brought onstream its No.2 Polypropylene (PP) unit in Ningbo.A Polymerupdate source in China informed a team member, “The unit was restarted on September 21, 2022 following a turnaround. It was shut for a maintenance turnaround on August........
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SM prices drop $10 in Asia

On 23 Sep 2022 at 08:30 IST

On Thursday, SM prices were assessed lower in Asia.An industry source in Asia informed a Polymerupdate team member, “Prices dropped on the back of dull buying sentiments across the Asian region.”On Thursday, FOB Korea SM prices were assessed at the USD........
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Ethylene prices decline USD 30/mt in Asia

On 22 Sep 2022 at 05:17 IST

Energy news:Crude oil prices inched lower on Wednesday as the US Federal Reserve raised its key interest rates by 75 basis points for the third time in a row. The fall in prices was also driven by a strengthening US dollar and a rise in US fuel inventories.........
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US Fed’s 75 bps interest rate hike pushes Indian rupee to fresh lows

On 22 Sep 2022 at 01:05 IST

Continuing its hawkish stance, the United States’ Federal Reserves (US Fed) on Wednesday raised its key policy interest rates for the third consecutive time in a row by 75 bps in an ongoing effort to bring down inflation. Starting with a 25 bps hike in March........
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