Published on April 5, 2018
China has decided to impose tariffs on 106 items originating in the United States, the Ministry of Commerce announced. The government has chosen to add a tariff of 25 percent to 106 goods originating in the United States across 14 categories, including petrochemical productsbut the implementation date has not been published yet. China had earlier announced several new ADD rulings on different chemicals in the first quarter, including bisphenol A (BPA) and styrene monomer (SM), with another five ..
Published on April 4, 2018
US contract reduced for March settlement for the month of March by 2.5 cents at the level of 42.50 cents/bl. Profuse supply of Acetone in many regions of the country has pulled down the values. Feedstock values for Propylene have also reduced for this week. All these factors has been contributing for lowering of Acetone values. ..
Published on April 3, 2018
With imposition of ADD by China on imports of Phenol has led to slowdown in imports of Phenol. The investigation initiated by the government will be completed only next year in 2019 and may extend for next six months. Chinese importers feel that if the ADD is imposed, this will force them to consider import alternative sources of non-ADD deep-sea supply. N current scenario, Chinese importers are purchasing deep-sea cargoes from the US, the Middle East, and the EU as they are more competitively- ..
Published on April 2, 2018
China based Yankuang Cathay Coal Chemical will shut down its Acetic Acid unit for maintenance turnaround. The unit will go off-stream in the first week of May. Unit is likely to remain off-stream for around one month. Unit based in China has the manufacturing capacity of 1000 MT/year. ..
Published on March 31, 2018
In last two years Chinese government has become very strict in regard environment policies. The government is letting no stone unturned to curb the pollution and improve the environment. With shutdown of many inefficient factories, consistent inspections and applying of ‘green tax’ has resulted in supply-side pressures on China’s petrochemical industry. The impact of China's environmental inspections have led to short-term production stops, while longer production stops may re ..
Published on March 30, 2018
India's Bharat Petroleum Corporation Ltd (BPCL) is planning to build a $3 billion petrochemical unit to serve the Mumbai region. BPCL's expansion is part of a national plan to spend $35 billion on petrochemical production in order to meet the expected increase in consumption of the chemicals for products including plastics, paints and adhesives. India currently only produces about 20 million tonnes a year of petrochemicals, less than the 40 million tonnes of demand expected for the 2017/18 finan ..
Published on March 29, 2018
The Chinese government has started an anti-dumping investigation against US on imports of Phenol from US and other nations. This action has been taken in retaliation against US president’s decision to impose additional tariffs on goods imported from China. According to Chinese government the Chinese government has requested the investigation, claiming that huge influx of cheap imported Phenol has triggered a plunge in the price of chemical in the country. ..
Published on March 28, 2018
In Asian market there has been slow down in ACN values on back of ample supply in the China market. Chinese domestic market has been lowering on heavy rate in turn curbing the imports as consumers find it too expensive in dollars. Many plants in China has resumed their production after maintenance. In US ACN prices are likely to reduce further USD 200-300/MT in the second quarter due to reduced feed-stocks costs and global supply. US spot acrynolitrile was last assessed Tuesday at $1 ..
Published on March 27, 2018
Vienna based company Borealis owned by Mubadala Group (Abu Dhabi) and the energy group OMV (Vienna) has signed a agreement for joint venture with United Chemical Co. (UCC; Astana, Kazakhstan) to develop a world-scale petrochemical project at Atyrau, Kazakhstan. The project will include a 1.25-million metric tons/year ethane cracker and two 625,000 metric tons/year Borstar-process polyethylene (PE) units. The deal is the latest chapter in Borealis’s globalization strategy. The company ..
Published on March 24, 2018
China's petrochemical industry is marching towards a new stage of high-quality development. China's petrochemical sector has come to a turning point because of global economic recovery and China's economic development. Report said that, besides its rapid growth, the Chinese economy is shifting towards high-quality development, the policies of cutting overcapacity and focusing on innovation and green development have brought China's petrochemical industry to a new stage. "The total import and ..
