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BLOGS - ALL PRODUCT NEWS

Vietnam’s GDP grows 7.72% in the June quarter, the highest quarterly expansion in 12 years

On 29 Jun 2022 at 05:34 IST

Driven by a phenomenal boost in exports, Vietnam’s economy grew by 7.72 percent in April-June 2022 quarter which records the sharpest quarterly growth in 12 years. The South-East Asian country’s gross domestic product (GDP) growth in the second quarter of the........
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Discounted Russian crude oil to amplify Reliance Industries’ refining margins 2.6-fold this fiscal

On 29 Jun 2022 at 02:40 IST

The refining margins of India’s largest private sector oil refiner Reliance Industries Ltd (RIL) are likely to jump by 2.6-fold in the current financial year due to a sharp increase in the import of discounted crude oil from the sanction-hit Russia. In its........
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SM prices march higher in Asia

On 29 Jun 2022 at 08:30 IST

On Tuesday, SM prices witnessed gains in Asia.An industry source in Asia on condition of anonymity informed a Polymerupdate team member, “Bullish market conditions pushed SM prices higher across Asia.”On Tuesday, FOB Korea SM prices were assessed at the USD........
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Govt to set up national and state-level control rooms for monitoring illegal dealing in single-use plastic, seeks public support

On 28 Jun 2022 at 06:11 IST

For effective implementation of the ban on single-use plastic from July 1, 2022, the government of India is planning to set up national and state-level control rooms for checking illegal dealing in the banned plastic products. Also, the government has sought........
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Polymer price declines on slow offtake, pent-up demand from China may prevent further steep fall

On 28 Jun 2022 at 04:03 IST

Most polymers prices might have reported a steep decline in the last four months, but a further sharp slide at least in the near future is unlikely due to expectations of a resurgence in pent-up demand from China, post opening up of the country’s economy from........
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PetroChina Jilin resumes production at LLDPE unit

On 28 Jun 2022 at 08:40 IST

PetroChina Jilin Petrochemical has restarted its linear low density polyethylene (LLDPE) unit.A Polymerupdate source in China informed a team member, “The unit was recently brought onstream. The unit was shut for maintenance on June 9, 2022.”Located at Jilin........
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SM prices gain $25 in Asia

On 28 Jun 2022 at 08:30 IST

On Monday, SM prices marched higher in Asia.An industry source in Asia informed a Polymerupdate team member, “Prices gained on the back of bullish upstream crude and naphtha values.”On Monday, FOB Korea SM prices were assessed at the USD 1355-1365/mt levels,........
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GAIL (India) to invest Rs 30,000-cr in three years on expansion and entry into renewable energy

On 27 Jun 2022 at 05:25 IST

Government-owned explorer and producer of natural gas GAIL (India) Ltd has chalked out Rs 30,000 crore capital expenditure (capex) for the development of pipelines, petrochemicals, city gas distribution (CGD), operational capex, and also entry into the........
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Investment in the world energy value chain may rise 8% to a record US$2400-bn in 2022

On 27 Jun 2022 at 01:05 IST

Global investors have flocked together to pump in a fresh US$2,400 billion in the energy sector value chain in the calendar year 2022, a rise of 8 percent from the previous year’s US$ 2,220 billion, data compiled by the global energy monitoring body the........
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Lotte Chemical resumes production at Yeosu cracker

On 27 Jun 2022 at 08:40 IST

Lotte Chemical has brought onstream its cracker in Yeosu.A Polymerupdate source in South Korea informed a team member, “Operations at the cracker were recently restarted following a turnaround. The cracker was shut for maintenance on May 9, 2022.”Located at........
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Propylene prices slip in Asia

On 27 Jun 2022 at 08:30 IST

Last week, propylene prices declined across the Asian region. An industry source in Asia on condition of anonymity informed a Polymerupdate team member, “The price fall was on the back of ample product availability and sluggish regional buying sentiments.”........
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CSPC resumes production at No. 1 PP unit

On 25 Jun 2022 at 08:40 IST

CNOOC and Shell Petrochemicals (CSPC) has brought onstream its No. 1 Polypropylene (PP) unit in Guangdong.A Polymerupdate source in China informed a team member, “The company has recently resumed operations at the unit. The unit was shut for maintenance on........
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Single-use plastic ban - Fossil fuel-based polymer demand may decline in India as processors shift to biodegradable/compostable raw materials

On 24 Jun 2022 at 05:40 IST

The implementation of the ban on single-use plastic (SUP) items from July 1 is likely to pull down India’s fossil fuel-based polymer demand as processors have started shifting to biodegradable or compostable alternatives by upgrading plants and machinery. The........
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BASF to provide green hydrogen purification technology to Shell

On 24 Jun 2022 at 12:35 IST

Ludwigshafen (Germany)-headquartered multinational chemical company BASF SE has agreed to provide green hydrogen purification technologies - Puristar RO-20 and Sorbead Adsorption Technology – to British multinational oil and gas company Shell Plc. BASF, a........
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Mitsubishi Chemical to resume production at OCU unit

On 24 Jun 2022 at 08:40 IST

Mitsubishi Chemical is likely to bring onstream its olefins conversion unit (OCU) unit in Kashima.A Polymerupdate source in Japan informed a team member, “The unit is expected to be restarted by the company by end July, 2022. It was shut for maintenance in........
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Ethylene prices edge lower in Asia

On 24 Jun 2022 at 08:30 IST

Ethylene prices quoted lower in Asia, on Thursday.An industry source in Asia on condition of anonymity informed a Polymerupdate team member, “The price fall has been attributed to weaker crude values and sluggish market trends in the Asian region.”On........
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India strengthens vigilance at ports to restrict single-use plastic imports - Government orders seizure of consignments

On 23 Jun 2022 at 01:40 IST

Stepping ahead with effective implementation of the ban on single-use plastic (SUP) items, the government of India has started tightening loopholes gradually. With its implementation date drawing closer, concerned authorities and ministries have started........
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Haiwei Group resumes production at PDH plant

On 23 Jun 2022 at 08:40 IST

Haiwei Group has restarted its propane dehydrogenation (PDH) plant.A Polymerupdate source in China informed a team member, “The company recently resumed operations at the plant. The plant was shut for maintenance on June 19, 2022.”Located at Hebei in China,........
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Propylene prices fall in Asia

On 23 Jun 2022 at 08:30 IST

On Wednesday, propylene prices were assessed lower in Asia.An industry source in Asia on condition of anonymity informed a Polymerupdate team member, “Weaker crude and naphtha values pushed prices down in the Asian region.”On Wednesday, FOB Korea propylene........
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Central Pollution Control Board seeks quarterly sales reports from polymer producers to monitor supply ban to single-use plastic manufacturers

On 22 Jun 2022 at 06:02 IST

In a bid to ensure a complete supply disruption of raw materials to the manufacturers of the banned single-use plastic (SUP) products, India's the Central Pollution Control Board (CPCB) under the Ministry of Environment, Forest and Climate Change (MoEF&CC),........
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PVC prices drifted lower in Asia this week

On 22 Jun 2022 at 05:17 IST

Energy news:Crude oil prices gained on Tuesday on expectations that global energy markets are likely to face volatility for a fairly longer timeframe. The rise in prices was also driven by a fall in the value of the US dollar. Brent crude prices rose by 52........
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ExxonMobil introduces single-layer flexible packaging solutions with advanced stiffness

On 22 Jun 2022 at 03:25 IST

Revolutionizing the flexible packaging film industry further, Texas (United States)-headquartered Exxon Mobil Corporation (ExxonMobil) has introduced metallocene linear low-density polyethylene (mLLDPE) high-performance flexible films for packaging,........
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Global economic uncertainty casts a shadow on India’s PVC demand

On 22 Jun 2022 at 10:12 IST

In a major shift in strategy, polyvinyl chloride (PVC) pipes and fittings manufacturers in India have halted inventory building of both raw materials and finished products amid expectations of a further fall in PVC prices and a slowdown in demand from the........
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Sinopec Shanghai Petrochemical halts production at FCC unit

On 22 Jun 2022 at 08:40 IST

Sinopec Shanghai Petrochemical has shut its fluid catalytic cracker (FCC) unit.A Polymerupdate source in China informed a team member, “The unit was taken offstream on June 18, 2022. Further details on the duration of the shutdown could not be........
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Ethylene prices gain in NEA

On 22 Jun 2022 at 08:30 IST

On Tuesday, stronger crude values pushed ethylene prices higher in North East Asia.An industry source in Asia while requesting to remain unidentified informed a Polymerupdate team member, “Soft buying trends were reported in parts of Asia.”On Tuesday, CFR........
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Open spec naphtha prices decline sharply on Monday

On 21 Jun 2022 at 05:17 IST

Energy news:Brent crude oil prices gained on Monday on the back of a fall in the value of the US dollar. Brent crude prices rose by USD 1.01 settling at $114.13 per barrel.- On Monday, open spec naphtha prices declined sharply by USD 28/mt at USD 811/MT CFR........
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Covestro inks a tripartite agreement with SK Geo Centric and Neste to produce biodegradable polyurethane raw materials

On 21 Jun 2022 at 01:26 IST

Diversifying towards the production of environment-friendly polymers, Leverkusen (Germany)-headquartered Covestro AG has signed a tripartite cooperation agreement with South Korean petrochemical major SK Geo Centric and Finland-based engineering service........
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ExxonMobil resumes production at No. 1 cracker

On 21 Jun 2022 at 08:40 IST

ExxonMobil has restarted its No. 1 cracker in Singapore.A Polymerupdate source in Singapore informed a team member, “Operations at the plant restarted resumed recently. The cracker has been under a shutdown since April 26, 2022 due to weak margins.”Located at........
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SM prices decline in Asia

On 21 Jun 2022 at 08:30 IST

On Monday, SM prices dropped in Asia.An industry source in Asia informed a Polymerupdate team member, “Prices fell on the back of weaker upstream crude and naphtha values.”On Monday, FOB Korea SM prices were assessed at the USD 1400-1410/mt levels, a drop of........
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Open spec naphtha prices gain sharply on Friday

On 20 Jun 2022 at 05:17 IST

Energy news:Crude oil prices fell steeply on Friday on concerns that global demand for energy could decline with the world heading for a likely economic downturn in the wake of rate hikes by central banks the world over. The fall in prices was also prompted........
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