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BLOGS - ALL PRODUCT NEWS

CRC to resumes production at two PET units

On 24 Jan 2022 at 08:40 IST

China Resources Chemical Innovative Materials Holdings (CRC), is likely to bring on-stream two of its polyethylene terephthalate (PET) units in Changzhou.A Polymerupdate source in China informed that, the company has planned to restart the units by........
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SM price drift lower in Asia

On 24 Jan 2022 at 08:30 IST

Last week, SM prices fall sharply in Asia. Reports of bearish regional demand trends and weaker benzene values, pulled SM price lower across the Asian region.On Friday, FOB Korea SM prices were assessed at the USD 1120-1130/mt levels, while CFR South East........
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Pre-budget: Incentives on FDI may help the Indian petrochemicals industry achieve scale

On 22 Jan 2022 at 01:36 IST

Faced with a lack of incentives hindering growth and therefore India’s competitiveness in the world market, experts have urged the government to incentivize foreign direct investment (FDI) in the Indian petrochemical sector, to help the industry achieve........
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NATPET shuts PP unit for maintenance

On 22 Jan 2022 at 08:40 IST

NATPET, has taken off-stream its Polypropylene (PP) unit in Yanbu.A Polymerupdate source in Saudi Arabia informed that, the company halted operations at the unit on January 14, 2022 for maintenance. The unit is likely to remain off-line for about three........
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ExxonMobil to invest $15-bn in six years on carbon emission reduction opportunities

On 21 Jan 2022 at 05:20 IST

Moving in line with a targeted goal to achieve a net-zero emission by 2050, Texas-headquartered multinational oil and gas corporation ExxonMobil is planning to invest more than $15-billion over the next six years on initiatives to lower greenhouse gas........
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Propylene prices gain in Asia on Thursday

On 21 Jan 2022 at 05:05 IST

Energy and Feedstock news:Crude oil prices slipped on Thursday on the back of rising pandemic cases globally inciting fears of a slowdown in demand for oil and fuel. Also, the American Petroleum Institute's (API) and the Energy Information Administration's........
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Extended producers responsibility in plastics to be notified in two months

On 21 Jan 2022 at 04:35 IST

The Union Ministry of Environment, Forest, and Climate Change (MoEF&CC) is planning to issue a notification on implementation of regulations with regards to Extended Producer Responsibility (EPR) in two months. On January 18, 2022, the MoEF&CC issued a draft........
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In Loving Memory of Jwalant Oza

On 21 Jan 2022 at 01:15 IST

It is with immense regret and deep sadness in our hearts that we inform you of the sudden passing of Mr. Jwalant Oza, Director (Editorial) at Polymerupdate. Ever since Polymerupdate was founded in 1999, Jwalant, as one of it's first employees, was an integral........
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Sinopec Shanghai resumes production at No. 2 LDPE unit

On 21 Jan 2022 at 08:40 IST

Sinopec Shanghai, has brought on-stream its No. 2 Low-density polyethylene (LDPE) unit.A Polymerupdate source in China informed that, the company has recently resumed operations at the unit following a turnaround. The unit was shut for maintenance on January........
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Propylene prices gain in Asia

On 21 Jan 2022 at 08:30 IST

On Thursday, stronger upstream crude and naphtha values pushed propylene prices higher in Asia. The price rise was further supported by continued tight product availability in the region.FOB Korea propylene prices were at the USD 1030-1035/mt levels, a gain........
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Indian Oil Corporation acquires 4.93% stake in Indian Gas Exchange

On 20 Jan 2022 at 05:53 IST

The public sector oil major Indian Oil Corporation (IOC) has acquired a 4.93 percent stake in Indian Gas Exchange (IGX) from Indian Energy Exchange (IEX) at an undisclosed sum. IGX, India’s only gas trading exchange, is promoted jointly by IEX and National........
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Crude oil prices firm up on Wednesday

On 20 Jan 2022 at 05:10 IST

Energy news:Crude oil prices bolstered higher on Wednesday after a fire was reported on a pipeline running from Iraq to the world markets, raising concerns about an already tightened global supply outlook. Brent futures gained by 0.93 cents settling at $88.44........
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PVC pipe makers to clock 30 percent revenue growth this fiscal on recovery in demand

On 20 Jan 2022 at 03:13 IST

Polyvinyl chloride (PVC) pipes and fittings manufacturers are likely to post around a 30 percent surge in their revenues for the financial year 2021-22 on higher realizations and modest volume growth. A study conducted by rating agency Crisil estimates the........
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China cuts key lending rates, markets abuzz with stimulus to underpin the economy

On 20 Jan 2022 at 01:50 IST

Stepping up monetary easing efforts, China’s central bank cut its benchmark lending rates on Thursday, for the first time in nearly two years, to prop up a slowdown in the world’s second-largest economy. The People’s Bank of China (PBOC) announced on........
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Heilongjiang Haiguo resumes production at PP unit

On 20 Jan 2022 at 08:40 IST

Heilongjiang Haiguo Longyou PC, has brought on-stream its Polypropylene (PP) unit in Daqing.A Polymerupdate source in China that, the company has recently resumed operations at the unit following a turnaround. The unit was shut for maintenance on September........
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SM prices quote lower in Asia

On 20 Jan 2022 at 08:30 IST

On Wednesday, despite stronger upstream energy and benzene rates, SM prices declined in Asia. Reports of bearish regional demand trends pressured prices lower in Asia.FOB Korea SM prices were assessed at the USD 1150-1160/mt levels, a drop of USD (-30/mt)........
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Vedanta may pay up to $12-bn for BPCL acquisition

On 19 Jan 2022 at 05:42 IST

Indian billionaire Anil Agarwal said in an interview this week that his company Vedanta Resources is willing to spend $11-12 billion to acquire public sector oil refiner Bharat Petroleum Corporation Ltd (BPCL). The divestment of BPCL, one of India’s largest........
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Crude oil prices hit eight-year high on supply tightness and geo-political tensions

On 19 Jan 2022 at 04:13 IST

Supply tightness and escalating geo-political tensions in the Middle East and Russia have sent global crude prices soaring in the last three weeks, with benchmark Nymex crude and Western Texas Intermediate (WTI) rates hitting the highest in seven years on........
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PVC prices tumble further in Asia

On 19 Jan 2022 at 02:30 IST

This week, PVC prices continued to drift lower across the Asian region. Prices tumbled, mainly on account of persistent bearish regional demand trends and a sharp drop in import offers from overseas producers. Deals sealed at lower price levels in the region........
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PVC price shrinks on slow offtake and expected cut in import duty

On 19 Jan 2022 at 01:05 IST

The business dynamics of polyvinyl chloride (PVC) resin and its derivatives have changed dramatically in India in the past three months, as consumers and stockists have abstained from fresh bookings amid expectations of price declines on account of a possible........
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Source comment on CPC's No.4 cracker

On 19 Jan 2022 at 08:40 IST

CPC Corp, has failed to restart its No. 4 cracker for second time since January 6, 2022.A Polymerupdate source in Taiwan informed that the company was supposed to resume operations at the cracker on January 17, 2022. The cracker continued to remain shut owing........
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Propylene prices gain in Asia

On 19 Jan 2022 at 08:30 IST

Despite weaker upstream energy values, propylene prices climbed higher in Asia on Tuesday. The price rise was attributed to firmer upstream crude and naphtha rates coupled with improved regional buying sentiments.Reports of constrained product availability........
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Brent crude prices climb on Monday

On 18 Jan 2022 at 05:05 IST

Energy news:Brent crude oil prices rose on Monday on the back of geopolitical jitters as Yemen's Houthi fighters were reported to have launched drone strikes on the United Arab Emirates causing an explosion and fire on the outskirts of the capital Abu Dhabi.........
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Economists expect a growth-oriented Union Budget with employment and Omicron headwinds

On 18 Jan 2022 at 12:46 IST

With the presentation of the Union Budget for the financial year 2022-23 less than two-weeks away (scheduled for February 1, 2022), economists have started analyzing the impact of the coronavirus (Covid) pandemic that jolted the global financial system, with........
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KEM ONE halts Paste PVC production

On 18 Jan 2022 at 08:40 IST

KEM ONE, has taken off-stream its Paste Polyvinyl chloride (PVC) plant owing to technical issues.A Polymerupdate source in Spain informed that, the company halted operations at the plant in early-January, 2022. Further details on the duration of shutdown........
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SM prices edge higher in Asia

On 18 Jan 2022 at 08:30 IST

SM prices were assessed higher in Asia on Monday. The price rise was prompted by stronger upstream crude and benzene values, coupled with improved regional buying inquiries. FOB Korea SM prices were assessed at the USD 1180-1190/mt levels, a gain of USD........
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Propylene prices march higher in Asia last week

On 17 Jan 2022 at 05:10 IST

Energy and feedstock news:Crude oil prices bolstered higher last Friday after the Energy Information Administration (EIA) reported a crude oil inventory draw. Also, the weakening of the US dollar further supported the price rise. Brent futures spiked by USD........
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Adani Group inks pact with South Korea’s Posco for green energy projects in India

On 17 Jan 2022 at 05:05 IST

India’s Adani Group has signed a non-binding memorandum of understanding (MoU) with Posco, the South Korean steel major, to collaborate at the group business level in various industries such as renewable energy, hydrogen, and logistics, in response to carbon........
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China’s economic growth at 8.1 % in 2021 beats forecasts, Q4 slowdown worry continues though

On 17 Jan 2022 at 01:03 IST

China’s economic performance beat the government’s forecast to grow at 8.1 percent in 2021, inspite of a massive slowdown that hit the country in the fourth quarter due to a deepening real estate crisis, renewed Covid outbreaks, and Beijing’s adherence to a........
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Borealis to undertake planned maintenance at PDH unit

On 17 Jan 2022 at 08:40 IST

Borealis, is likely to shut its propane dehydrogenation (PDH) unit in Antwerp.A Polymerupdate source in Belgium informed that, the company has scheduled to shut the unit for maintenance by end-January, 2022. The unit is expected to remain shut until first........
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