Published on December 28, 2017
Anhui Haoyuan will start its Styrene unit in the second quarter of 2018. The unit is expected to start its production by June 2018. This unit is one of many other several downstream units of Benzene which are likely to go on-stream in the year 2018. The unit is based in South China and has the manufacturing capacity of 2,60,000 mt/year. ..
Published on December 27, 2017
LG Chem has decided to make an investment of 300 billion won ($278.6 million) to expand its petrochemical facilities in Yeosu, South Jeolla Province, the company said Tuesday. By investing this major chunk the company has plans to increase the annual production capacities of crude acrylic acid and super absorbent polymer by 180,000 tons and 100,000 tons, respectively. The expansion is likely to get completed by 2019, the chemical giant’s annual production capacity of CAA will increase to ..
Published on December 26, 2017
Indian government has taken an important decision of extending its anti dumping duty on imports of Phthalic Anhydride from three countries which are Korea RP, Chinese Taipei and Israel. Earlier this duty was imposed in the year 2012. The government has decided to extend this duty now till 24 December 2018. By the mean time investigation will continue to sort out the matter. ..
Published on December 25, 2017
There has been keen interest from Chinese firms to make investment in naphtha sector in Pakistan. The plan is that they will set up downstream industries, which will partly supply to Pakistan and the rest will be exported. A naphtha cracker will allow exports of chemicals that are being imported currently. Other than PTA, no chemicals are exported. The investment required for a naphtha cracker is enormous, about $3-$4 billion. They are working on a feasibility report, but it will take another 3 ..
Published on December 23, 2017
CFR China prices were assessed around USD 1135/MTS increased by USD 35/MTS in compare to last week’s closing values. On other side similar trend were observed in FOB Korea values. Prices for FOB Korea were assessed around USD 1305/MT, hike of USD 50/MT in compare to last week’s closing values. The initial offers for 2018 for Ethylene have been offered with premium of USD 30-35/MT. Hike in premium is basically due to limited supply in the region, specially from Japan. Many crackers a ..
Published on December 22, 2017
The Niti-Ayog of central government is considering a proposal for suggesting the creation of a Methanol Economy Fund with a corpus of ₹4000-₹5000 crore. Speaking to reporters at a press conference, Member, Niti Aayog, VK Saraswat said: “We are evaluating a ₹4,000 crore to ₹5,000 crore fund for developing Methanol as a fuel in India. We want to set up 3 to 4 methanol processing plants, out of which we expect at least one plant running in the next 3 years. For this, we will want to ..
Published on December 21, 2017
There has been significant slowdown in domestic values for Acetic Acid in domestic market. Since past few prices surged up due to limited supply on back of winter season issues. Now the market has suddenly changed its position. Last few weeks prices were hovering in the range of Rs.50-52/Kg for Kandla and Mumbai port. Yesterday prices declined to the level of Rs.47/Kg for both ports, reduced by Rs.5/Kg for bulk quantity. ..
Published on December 20, 2017
Supreme Court has allowed the use of petcoke as feedstock by cement and limestone industrial units located in the northern states of Rajasthan, Uttar Pradesh, and Haryana. The court in October this year temporarily banned the usage of petcoke in an attempt to mitigate the heightened levels of pollution in the National Capital Region. ..
Published on December 19, 2017
Methanol prices are moving up with very fast velocity in Asia. In domestic market methanol prices have escalated to Rs 33.5/kg as of 18th Dec. In China market methanol prices also have increased on limited availability of material. Market players have said that methanol supply stiffed as several methanol plants in Asia are shut or remain closed. China Shipments decreased and inventory in East China runs low. In China market, feedstock natural gas availability is firm as some regions are chang ..
Published on December 18, 2017
International and national companies Mitubishi Corporation, BASF and Manali Petrochemicals have shown interest in setting up units in the petrochemical park being set up jointly by Kerala government and BPCL Kochi. The park will house downstream petrochemical MSME units that can use the raw materials available from BPCL Kochi Refinery's upcoming Propylene Derivative Petrochemical Project (PDPP). PDPP involves an investment of Rs 5200 crore in the first phase, which will be completed in 20 ..
