Dec 21: The Assam Gas Cracker Project, being implemented by Brahmaputra Cracker and Polymer Limited (BCPL) at Lepetkata in Assam, has progressed 84% and would attain mechanical completion in July 2013, according to a BCPL official contacted. Commercial operations of the petrochemical plant would begin by the end of December 2013, the official further said.
For more details click here>>
Dec 20: Insignificant price fluctuations continued to prevail in Indian polymer markets, amid sluggish trading conditions continuing to prevail. There were no perceptible changes in the markets, neither in trading patterns or in buying practices. Besides, price movements were not significant, with rates remaining at around the ones prevailed the previous days.
Demand for PVC in Indian markets is likely to remain firm in the near term, if raw material buying practices of PVC item manufacturers in the country are considered as potential indications. As the prevailing demand for PVC end-products are robust, the manufacturers are bound to keep their manufacturing activities in full-swing, which will necessitate PVC purchases from markets.
For more details click here>>
Dec 19: The prevailing ban on plastic bags by the Delhi government has squeezed demand for PE in the markets of the National Capital, reveals market assessment conducted. The ban includes not only usage of plastic bags but also manufacturing the bags, which are made out of PE. Traders in the Delhi market, with whom the prevailing market conditions were discussed, said that demand for PE had been low on account of the ban.
German plastic packaging major, Gerresheimer AG, is expanding its footprint in the emerging Asian markets by acquiring the majority shareholding of the Indian plastic packaging company, Triveni Polymers Private Limited (TPPL). The German company has acquired 75% of shares of the Indian company, which will hold the rest. All the aspects related to the acquisition are expected to be complete within this month.Visit our website to read the company's original press release.
For more details click here>>
Dec 18: Market conditions for PP, assessed today in the major polymer markets in India, were sluggish, with prices fluctuating insignificantly from the previous rates.Traders, in the markets assessed, experienced lackluster demand for the polymer as PP item manufacturers abstained from buying their raw material requirements in bulk, and instead preferred to purchase according to their manufacturing needs.
For more details click here>>
Dec 17: Market conditions for PP, assessed today in the major polymer markets in India, were sluggish, with prices fluctuating insignificantly from the previous rates.
Mangalore Refinery and Petrochemicals Limited is gearing up to brand and launch its PP, to be produced by its plant, which is in the verge of becoming operational in Mangalore. The PP plant will produce 440,000 tonne per annum of the polymer, which would also establish the company as the maiden petrochemical producer in Southern India. For reference purposes, the tender is uploaded in the Tenders section of the website which is available for downloading.
For more details click here>>
Dec 15: Cash strapped Haldia Petrochemicals Limited is implementing a strategy for dealing with its twin problems of inadequacy of financial resources and shortages of Naphtha, the vital feedstock for polymer production. The company is seeking national as well as international partners who would supply Naphtha to the company for conversion into polymers against a 'conversion fee'. The move, if successful, would enable the West Bengal-based polymer producer to keep its plant running profitability.
On the other hand, demand conditions in Indian polymer markets continued to remain sluggish, without any improvements in buying activities. Traders in the major polymer markets across the country continued to see weak demand. In the Delhi market, demand remain weak especially due to the recent ban on plastic bags imposed by the Delhi government.
For more details click here>>
Dec 14: Lethargic conditions persisted in Indian polymer markets with traders seeing weak demand conditions. There were no changes in market conditions in any of the markets assessed. Buyers continued to buy cautiously, according to their needs, resulting in prevalence of weak demand in markets.
Dec 13: Traders in Indian polymer markets continue to see sluggish demand conditions, as buyers are abstaining from bulk buying but purchasing on need basis. Prevalence of high polymer prices has kept buyers adopting cautious approaches in purchasing their raw material requirement.
In a communication with a source in South Korea, Yeochun NCC was learnt to be operating its Butadiene plant at a lower rate. The source revealed that the company lowered operating rate for the plant to 70% from 100%.
Dec 12: There were no changes in trading conditions in Indian polymer markets compared to yesterday. Demand conditions in Mumbai, Chennai, Kolkata and Bangalore markets remained slightly improved, while, other major markets saw sluggish demand. Besides, there were also no reports of any major price fluctuations in any of the markets assessed.
High PVC prices in Indian polymer markets are putting tough cost pressure on PVC item manufacturers across the country. Due to prevalence of high prices, manufacturers across the country have adopted cautious approaches in buying their raw material requirements. Several manufacturers contacted, in the context of their recent buying practices, revealed that they preferred to buy their PVC requirements according to their needs, and they restricted themselves from stocking inventories of raw materials due to the apparent reason. They bought the polymer in quantities necessary to meet their manufacturing requirements.
Dec 11: Supply shortages in some polymer markets in India induced plastic item manufacturers in those cities to replenish their raw material stocks, causing demand in the markets to strengthen moderately. Traders in the Mumbai, Chennai, Kolkata and Bangalore markets said that they experienced improved demand conditions as buyers resorted to buying their raw material requirements to replenish their raw material inventories in view of shortages of polymers in the markets.
In a communication with a source in South Korea, Honam Petrochemical Corporation is learnt to be operating its petrochemical plant at Daesan in that country at a low rate. According to the source, the company is operating the plant at 70% rate. The source also revealed that the company has not scheduled any imminent turnarounds for the plant.
On the other hand, Malaysia-based PETRONAS has selected LyondellBasell's Spheripol process technology for its two PP plants, to be set up in Pengerang of that country. The two PP plants, each to bear the production capacity of 300 kilo tonne per annum, will produce a wide range of grades of the polymer. Visit our website to read the company's original press release.
Dec 10: Market conditions in Indian polymer markets continue to remain sluggish, with traders experiencing less buying activities. Several plastic item manufacturers, with whom their buying practices were discussed, said that they preferred buying on need basis, as prices were high in markets.
On the other hand, the Government of India has extended the period of imposing Anti Dumping Duty on imports of Suspension Grade PVC from Taiwan, China, Indonesia, Korea, Malaysia, Thailand and USA by another year. The extension has been done on the basis of a review investigation conducted for determining whether the existing foreign trade conditions related to imports of the polymer warrant imposition of the duty. Visit our website to check the latest and Initial notification.
Dec 8: Buying activities in Indian polymer markets saw no improvements on the weekend, with bearish buying sentiments continuing to prevail. Traders in the major polymer markets in the country experienced continuation of sluggish demand. They attributed the weakness in demand to prevalence of high prices in markets.
Dec 7: Reliance Industries Limited (RIL) has selected Lyondell Basell's Lupotech T process technology for its LDPE plant, to be built at its existing refinery and petrochemicals complex in Jamnagar of Gujarat. The plant is a part of RIL's ambitious capacity expansion project at the location.
Dec 6: Indonesian petrochemical capacity is set to rise in the medium term as the country's largest refiner, Pertamina, is embarking upon strengthening its foot-hold in the petrochemical industry of that country. In a recent development, the company has signed with a Memorandum of Understanding (MoU) with Chandra Asri Petrochemical, another petrochemical company in that country, to jointly set-up a PP plant in that country.
For more details click here>>
Dec 5: Weak demand conditions prevailed in Indian polymer markets, with polymer prices fluctuating minimally. There were also no changes either in buying practices or in trading patterns from the trends prevailed during the last days.
Reliance Industries Limited (RIL) has awarded the task of providing engineering and procurement services for its Mono Ethylene Glycol (MEG) plant, to be set up at its refining and petrochemicals complex in Jamnagar of Gujarat, to the American engineering service provider, Jacobs Engineering Group. Visit our website to read the company's original press release.
Brazilian petrochemical major, Braskem, is expected to commence engineering activities for setting up a 300 kilo tonne per annum (KTPA) LDPE plant in its existing petrochemical complex at Nanchita in Veracruz of Mexico. The company recently awarded a contract to the Italian engineering service provider, Maire Technimont, to provide technical services in setting up the plant.Visit our website to read the company's original press release.
Dec 4: In market conditions ruled by appreciated US Dollar and hiked producer prices, traders in some markets however saw slight improvements in market demand. Traders in Mumbai, Chennai, Kolkata and Bangalore markets said that they experienced slight revival of demand conditions.
Diversified Japanese major, Sekisui Chemical Company Limited, will increase Chlorinated Poly Vinyl Chloride (CPVC) production capacity of its subsidiary by 7,000 tonne per annum (TPA), aimed at catering to the rising demand.The company has said in a recent release that it will increase the production capacity of its subsidiary, Tokuyama Sekisui Company Limited. Visit our website to read the company's original press release.
Dec 3: Sluggish demand continued to prevail in Indian polymer markets, with polymer prices fluctuating moderately from the previous rates. Polymer buyers in the country were confronted with the pressures of high prices in markets, and the Dollar remaining significantly appreciated.
Dec 1: Reliance Industries Limited has increased its prices for HDPE, LDPE, LLDPE, PP and PVC, effective from today.The company has also hiked its PP and PVC prices.The company's price-hikes caused buying moods of buyers to turn bearish in Indian markets.
China Shenhua Coal to Liquid and Chemical Company Limited is in the process of setting up a 270 kilo tonne per annum LDPE plant at Xinjiang in China. The physical activities in setting up the plant could be expected to commence soon as the company has selected a technology provider for the plant. The company has recently selected the European petrochemical technology major, Lyondell Bassell, as the technolgy provider for the plant. Visit our website to read the company's original press release.
Nov 30: Malaysian government owned PETRONAS has accomplished a decisive task in its ongoing Refinery And Petrochemical Integrated Development (RAPID) project in that country by awarding the European technology provider, Ineos Technologies, a contract for providing technology for the PE plant to be set up as part of the project. Visit our website to read the company's original press release.
Nov 29: Mixed buying trends were reported from the polymer markets in India assessed. In some markets, polymer demand revived, while, remained sluggish in others. There were also, however, no major price fluctuations reported from any of the markets.
Nov 28: There were no changes in market conditions in Indian polymer markets, with demand patterns remaining sluggish. And, there were also no notable changes in polymer prices in any of the markets assessed. The prices moved around the previous rates, undergoing minimal deviations.
Nov 27: Yanbu National Petrochemical Company, is learnt to have suspended operations of its MEG plant in order to carry out maintenance activities.
Polymer markets in India were ruled by moderate fluctuations in polymer prices amid sluggish market conditions. There were no major price movements reported from any markets in the country. Prices were almost identical with those prevailed yesterday, undergoing minimal movements, which were due to local demand factors.
For more details click here>>
Nov 26: Buying sentiments continue to remain bearish in Indian polymer markets. Traders in the Delhi market, in particular, experienced more sluggish demand due to the recent ban imposed by the Delhi government on manufacture as well as usage of plastic bags in the city.
For more details click here>>
Nov 24: Polymer demand in the Delhi market contracted further due the state government banning manufacture as well as sale of plastic bags in the capital with effect from yesterday. Polymer demand has already been sluggish not only in Delhi but also across various markets in the country mainly on account of the producers raising their prices.Both Reliance Industries Limited (RIL) and Indian Oil Corporation Limited (IOCL) raised their PE prices in the last price revisions.
On the other hand, Taiwan based Nan Ya Plastics Corporation is heard to have shut-down its MEG plant for maintenance purposes.The plant bears a production capacity of 360 kilo tonne per annum.
For more details click here>>
Nov 23: Existing educational and research institutions in India, pertaining to polymer technology, are entitled for financial grants upto 50% of costs of projects undertaken for conducting research in polymer science and technology, as informed by Shri Srikant Kumar Jena, the Minister of State in the Ministry of Chemicals and Fertilizers, to the Lok Sabha. The monetary grant will be restricted to an upper limit of Rs 6 crore for each project, spanning over a period of three years, the Minister further informed.
In a communication with a source in China, British Petroleum Zhuhai is learnt to have temporarily shut-down its 650 kilo tonne per annum PTA plant for maintenance.
For more details click here>>
Nov 21: No major polymer price fluctuation was reported from any of the Indian markets. Polymer prices in Indian markets continued to fluctuate minimally, under the influence of local demand factors.
In a communication with a source in South Korea, HC Petrochem is learnt to have scheduled start-up of commercial operations of its newly set-up Aromatics plant at Daesan in that country in January 2013.The company operates a separate Aromatics complex at Daesan that produces Para Xylene and Benzene.
For more details click here>>
Nov 19: In the latest development of the tendering process of ONGC Mangalore Petrochemicals Limited (OMPL) for selecting an equity advisor cum arranger for arranging 51% equity funds, the management has now allowed the prospective bidders to form their respective consortiums in bidding against the tender in view of the complexity of the assignment involved.For reference purposes, the amendment to the Request For Proposal (RFP) is attached herewith which is available for downloading. And, the related RFP is available in the Tenders section.
Nov 17: Demand for PP remained subdued in Indian markets due to RIL hiking its price for the polymer. RIL, in its latest price revision, increased its prices for Homopolymer and Co-polymer grades of PP.In the preceding price revisions on November 1, 2012, Indian Oil Corporation Limited (IOCL) increased its PP price.
For more details click here>>
Nov 16: Dhunseri Petrochem and Tea Limited successfully commissioned yesterday its newly set-up 2,10,000 tonne per annum (TPA) Poly Ethylene Terephthalate (PET) plant at its existing production complex in Haldia of West Bengal. With the commissioning of the plant, the company's total PET production capacity has risen to 4,10,000 TPA, which renders the company as the largest PET producer in India.
Thailand-based Indorama Ventures will set up a 540,000 tonne per annum (TPA) Poly Ethylene Terephthalate (PET) plant in the US, the company said in a release. The project, according to the company, will enhance the total PET production capacity in North America.
For more details click here>>
For more details click here>>
Dec 20: Insignificant price fluctuations continued to prevail in Indian polymer markets, amid sluggish trading conditions continuing to prevail. There were no perceptible changes in the markets, neither in trading patterns or in buying practices. Besides, price movements were not significant, with rates remaining at around the ones prevailed the previous days.
Demand for PVC in Indian markets is likely to remain firm in the near term, if raw material buying practices of PVC item manufacturers in the country are considered as potential indications. As the prevailing demand for PVC end-products are robust, the manufacturers are bound to keep their manufacturing activities in full-swing, which will necessitate PVC purchases from markets.
For more details click here>>
Dec 19: The prevailing ban on plastic bags by the Delhi government has squeezed demand for PE in the markets of the National Capital, reveals market assessment conducted. The ban includes not only usage of plastic bags but also manufacturing the bags, which are made out of PE. Traders in the Delhi market, with whom the prevailing market conditions were discussed, said that demand for PE had been low on account of the ban.
German plastic packaging major, Gerresheimer AG, is expanding its footprint in the emerging Asian markets by acquiring the majority shareholding of the Indian plastic packaging company, Triveni Polymers Private Limited (TPPL). The German company has acquired 75% of shares of the Indian company, which will hold the rest. All the aspects related to the acquisition are expected to be complete within this month.Visit our website to read the company's original press release.
For more details click here>>
Dec 18: Market conditions for PP, assessed today in the major polymer markets in India, were sluggish, with prices fluctuating insignificantly from the previous rates.Traders, in the markets assessed, experienced lackluster demand for the polymer as PP item manufacturers abstained from buying their raw material requirements in bulk, and instead preferred to purchase according to their manufacturing needs.
For more details click here>>
Dec 17: Market conditions for PP, assessed today in the major polymer markets in India, were sluggish, with prices fluctuating insignificantly from the previous rates.
Mangalore Refinery and Petrochemicals Limited is gearing up to brand and launch its PP, to be produced by its plant, which is in the verge of becoming operational in Mangalore. The PP plant will produce 440,000 tonne per annum of the polymer, which would also establish the company as the maiden petrochemical producer in Southern India. For reference purposes, the tender is uploaded in the Tenders section of the website which is available for downloading.
For more details click here>>
Dec 15: Cash strapped Haldia Petrochemicals Limited is implementing a strategy for dealing with its twin problems of inadequacy of financial resources and shortages of Naphtha, the vital feedstock for polymer production. The company is seeking national as well as international partners who would supply Naphtha to the company for conversion into polymers against a 'conversion fee'. The move, if successful, would enable the West Bengal-based polymer producer to keep its plant running profitability.
On the other hand, demand conditions in Indian polymer markets continued to remain sluggish, without any improvements in buying activities. Traders in the major polymer markets across the country continued to see weak demand. In the Delhi market, demand remain weak especially due to the recent ban on plastic bags imposed by the Delhi government.
For more details click here>>
Dec 14: Lethargic conditions persisted in Indian polymer markets with traders seeing weak demand conditions. There were no changes in market conditions in any of the markets assessed. Buyers continued to buy cautiously, according to their needs, resulting in prevalence of weak demand in markets.
Dec 13: Traders in Indian polymer markets continue to see sluggish demand conditions, as buyers are abstaining from bulk buying but purchasing on need basis. Prevalence of high polymer prices has kept buyers adopting cautious approaches in purchasing their raw material requirement.
In a communication with a source in South Korea, Yeochun NCC was learnt to be operating its Butadiene plant at a lower rate. The source revealed that the company lowered operating rate for the plant to 70% from 100%.
Dec 12: There were no changes in trading conditions in Indian polymer markets compared to yesterday. Demand conditions in Mumbai, Chennai, Kolkata and Bangalore markets remained slightly improved, while, other major markets saw sluggish demand. Besides, there were also no reports of any major price fluctuations in any of the markets assessed.
High PVC prices in Indian polymer markets are putting tough cost pressure on PVC item manufacturers across the country. Due to prevalence of high prices, manufacturers across the country have adopted cautious approaches in buying their raw material requirements. Several manufacturers contacted, in the context of their recent buying practices, revealed that they preferred to buy their PVC requirements according to their needs, and they restricted themselves from stocking inventories of raw materials due to the apparent reason. They bought the polymer in quantities necessary to meet their manufacturing requirements.
Dec 11: Supply shortages in some polymer markets in India induced plastic item manufacturers in those cities to replenish their raw material stocks, causing demand in the markets to strengthen moderately. Traders in the Mumbai, Chennai, Kolkata and Bangalore markets said that they experienced improved demand conditions as buyers resorted to buying their raw material requirements to replenish their raw material inventories in view of shortages of polymers in the markets.
In a communication with a source in South Korea, Honam Petrochemical Corporation is learnt to be operating its petrochemical plant at Daesan in that country at a low rate. According to the source, the company is operating the plant at 70% rate. The source also revealed that the company has not scheduled any imminent turnarounds for the plant.
On the other hand, Malaysia-based PETRONAS has selected LyondellBasell's Spheripol process technology for its two PP plants, to be set up in Pengerang of that country. The two PP plants, each to bear the production capacity of 300 kilo tonne per annum, will produce a wide range of grades of the polymer. Visit our website to read the company's original press release.
Dec 10: Market conditions in Indian polymer markets continue to remain sluggish, with traders experiencing less buying activities. Several plastic item manufacturers, with whom their buying practices were discussed, said that they preferred buying on need basis, as prices were high in markets.
On the other hand, the Government of India has extended the period of imposing Anti Dumping Duty on imports of Suspension Grade PVC from Taiwan, China, Indonesia, Korea, Malaysia, Thailand and USA by another year. The extension has been done on the basis of a review investigation conducted for determining whether the existing foreign trade conditions related to imports of the polymer warrant imposition of the duty. Visit our website to check the latest and Initial notification.
Dec 8: Buying activities in Indian polymer markets saw no improvements on the weekend, with bearish buying sentiments continuing to prevail. Traders in the major polymer markets in the country experienced continuation of sluggish demand. They attributed the weakness in demand to prevalence of high prices in markets.
Dec 7: Reliance Industries Limited (RIL) has selected Lyondell Basell's Lupotech T process technology for its LDPE plant, to be built at its existing refinery and petrochemicals complex in Jamnagar of Gujarat. The plant is a part of RIL's ambitious capacity expansion project at the location.
Dec 6: Indonesian petrochemical capacity is set to rise in the medium term as the country's largest refiner, Pertamina, is embarking upon strengthening its foot-hold in the petrochemical industry of that country. In a recent development, the company has signed with a Memorandum of Understanding (MoU) with Chandra Asri Petrochemical, another petrochemical company in that country, to jointly set-up a PP plant in that country.
For more details click here>>
Dec 5: Weak demand conditions prevailed in Indian polymer markets, with polymer prices fluctuating minimally. There were also no changes either in buying practices or in trading patterns from the trends prevailed during the last days.
Reliance Industries Limited (RIL) has awarded the task of providing engineering and procurement services for its Mono Ethylene Glycol (MEG) plant, to be set up at its refining and petrochemicals complex in Jamnagar of Gujarat, to the American engineering service provider, Jacobs Engineering Group. Visit our website to read the company's original press release.
Brazilian petrochemical major, Braskem, is expected to commence engineering activities for setting up a 300 kilo tonne per annum (KTPA) LDPE plant in its existing petrochemical complex at Nanchita in Veracruz of Mexico. The company recently awarded a contract to the Italian engineering service provider, Maire Technimont, to provide technical services in setting up the plant.Visit our website to read the company's original press release.
Dec 4: In market conditions ruled by appreciated US Dollar and hiked producer prices, traders in some markets however saw slight improvements in market demand. Traders in Mumbai, Chennai, Kolkata and Bangalore markets said that they experienced slight revival of demand conditions.
Diversified Japanese major, Sekisui Chemical Company Limited, will increase Chlorinated Poly Vinyl Chloride (CPVC) production capacity of its subsidiary by 7,000 tonne per annum (TPA), aimed at catering to the rising demand.The company has said in a recent release that it will increase the production capacity of its subsidiary, Tokuyama Sekisui Company Limited. Visit our website to read the company's original press release.
Dec 3: Sluggish demand continued to prevail in Indian polymer markets, with polymer prices fluctuating moderately from the previous rates. Polymer buyers in the country were confronted with the pressures of high prices in markets, and the Dollar remaining significantly appreciated.
Dec 1: Reliance Industries Limited has increased its prices for HDPE, LDPE, LLDPE, PP and PVC, effective from today.The company has also hiked its PP and PVC prices.The company's price-hikes caused buying moods of buyers to turn bearish in Indian markets.
China Shenhua Coal to Liquid and Chemical Company Limited is in the process of setting up a 270 kilo tonne per annum LDPE plant at Xinjiang in China. The physical activities in setting up the plant could be expected to commence soon as the company has selected a technology provider for the plant. The company has recently selected the European petrochemical technology major, Lyondell Bassell, as the technolgy provider for the plant. Visit our website to read the company's original press release.
Nov 30: Malaysian government owned PETRONAS has accomplished a decisive task in its ongoing Refinery And Petrochemical Integrated Development (RAPID) project in that country by awarding the European technology provider, Ineos Technologies, a contract for providing technology for the PE plant to be set up as part of the project. Visit our website to read the company's original press release.
Nov 29: Mixed buying trends were reported from the polymer markets in India assessed. In some markets, polymer demand revived, while, remained sluggish in others. There were also, however, no major price fluctuations reported from any of the markets.
Nov 28: There were no changes in market conditions in Indian polymer markets, with demand patterns remaining sluggish. And, there were also no notable changes in polymer prices in any of the markets assessed. The prices moved around the previous rates, undergoing minimal deviations.
Nov 27: Yanbu National Petrochemical Company, is learnt to have suspended operations of its MEG plant in order to carry out maintenance activities.
Polymer markets in India were ruled by moderate fluctuations in polymer prices amid sluggish market conditions. There were no major price movements reported from any markets in the country. Prices were almost identical with those prevailed yesterday, undergoing minimal movements, which were due to local demand factors.
For more details click here>>
Nov 26: Buying sentiments continue to remain bearish in Indian polymer markets. Traders in the Delhi market, in particular, experienced more sluggish demand due to the recent ban imposed by the Delhi government on manufacture as well as usage of plastic bags in the city.
For more details click here>>
Nov 24: Polymer demand in the Delhi market contracted further due the state government banning manufacture as well as sale of plastic bags in the capital with effect from yesterday. Polymer demand has already been sluggish not only in Delhi but also across various markets in the country mainly on account of the producers raising their prices.Both Reliance Industries Limited (RIL) and Indian Oil Corporation Limited (IOCL) raised their PE prices in the last price revisions.
On the other hand, Taiwan based Nan Ya Plastics Corporation is heard to have shut-down its MEG plant for maintenance purposes.The plant bears a production capacity of 360 kilo tonne per annum.
For more details click here>>
Nov 23: Existing educational and research institutions in India, pertaining to polymer technology, are entitled for financial grants upto 50% of costs of projects undertaken for conducting research in polymer science and technology, as informed by Shri Srikant Kumar Jena, the Minister of State in the Ministry of Chemicals and Fertilizers, to the Lok Sabha. The monetary grant will be restricted to an upper limit of Rs 6 crore for each project, spanning over a period of three years, the Minister further informed.
In a communication with a source in China, British Petroleum Zhuhai is learnt to have temporarily shut-down its 650 kilo tonne per annum PTA plant for maintenance.
For more details click here>>
Nov 22: The price-hikes by Reliance Industries Limited and Indian Oil Corporation Limited dampened buying moods of plastic item manufacturers across the markets in India.The respective hikes in the prices are available in the Domestic Prices section of the website.Due to the price-hikes, buying sentiments turned bearish in the polymer markets of the country.
For more details click here>> Nov 21: No major polymer price fluctuation was reported from any of the Indian markets. Polymer prices in Indian markets continued to fluctuate minimally, under the influence of local demand factors.
In a communication with a source in South Korea, HC Petrochem is learnt to have scheduled start-up of commercial operations of its newly set-up Aromatics plant at Daesan in that country in January 2013.The company operates a separate Aromatics complex at Daesan that produces Para Xylene and Benzene.
For more details click here>>
Nov 20: PP production capacity in China is set to increase by 450 kilo tonne per annum (KTPA) as a subsidiary of China Shenhua Group Corporation Limited is setting up a plant of the kind at the Urumqi City in the Xinjiang Uyghur Autonomous Region of China.the production of the plant will be meant for domestic consumption, as mentioned in the release. Visit our website to read the Original Press ReleaseJSR Corporation will soon restart operations of its Emulsion Polymerization Styrene Butadiene Rubber (E-SBR) production line at its Yokkaichi plant that was shut-down on November 15,2012 due to a fire-outbreak incident, the company said.
Nov 19: In the latest development of the tendering process of ONGC Mangalore Petrochemicals Limited (OMPL) for selecting an equity advisor cum arranger for arranging 51% equity funds, the management has now allowed the prospective bidders to form their respective consortiums in bidding against the tender in view of the complexity of the assignment involved.For reference purposes, the amendment to the Request For Proposal (RFP) is attached herewith which is available for downloading. And, the related RFP is available in the Tenders section.
Nov 17: Demand for PP remained subdued in Indian markets due to RIL hiking its price for the polymer. RIL, in its latest price revision, increased its prices for Homopolymer and Co-polymer grades of PP.In the preceding price revisions on November 1, 2012, Indian Oil Corporation Limited (IOCL) increased its PP price.
For more details click here>>
Nov 16: Dhunseri Petrochem and Tea Limited successfully commissioned yesterday its newly set-up 2,10,000 tonne per annum (TPA) Poly Ethylene Terephthalate (PET) plant at its existing production complex in Haldia of West Bengal. With the commissioning of the plant, the company's total PET production capacity has risen to 4,10,000 TPA, which renders the company as the largest PET producer in India.
Thailand-based Indorama Ventures will set up a 540,000 tonne per annum (TPA) Poly Ethylene Terephthalate (PET) plant in the US, the company said in a release. The project, according to the company, will enhance the total PET production capacity in North America.
For more details click here>>
Nov 15: The Odisha government is in the process of setting up a Plastic Park at Paradeep in the state with the objective of facilitating promotion of plastic industrial units, taking advantages of proximity of feedstock sources in the nearby upcoming Petroleum, Chemical and Petrochemical Investment Region (PCPIR). The park would be developed as a state-of-the-art industrial park for entrepreneurs to set up new units and utilize polymers as raw material to be produced by Indian Oil Corporation Limited (IOCL), which is setting up a 15 million metric tonne per annum refinery and petrochemicals complex at Paradeep.For reference purposes, the EoI document is uploaded in the Tenders section which is available for downloading.
Shell will debottleneck its existing Ethylene cracker at Pulau Bukom, situated on the Bukom Island of Singapore, to increase the cumulative production capacities of Olefins and Aromatics by more than 20%, the company said today.
For more details click here>>
Nov 14: Mitsui Chemicals Incorporated's (MCI) wholly-owned subsidiary, Prime Polymers Company Limited (PPCL), will expand its Metallocene LLDPE business operations in Asia.
Sipchem Chemicals Company, an affiliate of Saudi International Petrochemical Company (commonly known as Sipchem), is setting up a 4,000 metric tonne per annum (MTPA) Ethyl Vinyl Acetate (EVA) Film plant at Hail in Saudi Arabia.Sipchem announced today groundbreaking of its new project in a release.
With the expectation of commencement of commercial operations in Q1FY14, the management of ONGC Mangalore Petrochemicals Limited (OMPL) has begun developing a market for the 900 kilo tonne per annum (KTPA) of Para Xylene and 270 KTPA of Benzene to be produced after the aromatics complex going on-stream.The company is inviting tenders from eligible bidders having downstream Benzene and Para Xylene plants in India, who can commence the off-takes within 3 years from the Notice of Award.
For reference purposes, the Requests For Bidding (RFB) are uploaded in the Tenders section of our website which are available for downloading. Download the Para Xylene tender and Benzene tender.
For more details click here>>
Nov 9: China-based Shandong Yangmei Hengtong Chemicals Company Limited has selected UOP(a Honeywell Company) as the technology provider for its ongoing project of setting up an Olefins plant at Tancheng in Shandong of that country. Notably, the plant will be set up to produce the key polymer feedstocks, Ethylene and Propylene.
On the other hand, Reliance Industries Limited (RIL) has awarded the contract of providing engineering and procurement services for its Para Xylene project at Jamnagar in Gujarat to Foster Wheeler (FW). The project is part of RIL's multi-billion-Dollar expansion project at its world-class refining and petrochemicals complex at Jamnagar.
For more details click here>>
Nov 8: Buying moods of polymer buyers were subdued further by producers further hiking their prices. Both the state-run polymer companies, GAIL and Indian Oil Corporation Limited, further hiked their PE prices.Traders, due to the upward price revisions, saw sluggish buying activities in polymer markets.
For more details click here>> Nov 8: Buying moods of polymer buyers were subdued further by producers further hiking their prices. Both the state-run polymer companies, GAIL and Indian Oil Corporation Limited, further hiked their PE prices.Traders, due to the upward price revisions, saw sluggish buying activities in polymer markets.
Nov 7: Polymer prices in Indian markets moved moderately, causing no major impacts on market conditions. Demand patterns continued to remain sluggish. Some PE item manufacturers said that although they kept their manufacturing schedules uninterrupted, they refrained from purchasing polymers in bulk.On the other hand, Mangalore Refinery and Petrochemicals Limited (MRPL) is in the preliminary stages of setting up a Polyolefin complex at Mangalore in Karnataka. The management of the subsidiary of the state-run Oil and Natural Gas Commission (ONGC) perceived that subsequent to implementation of its ongoing third phase of refinery upgradation and expansion project, the company will be in a position of setting up a large Poly Olefin complex as availability of indigenous feedstocks will go up significantly.
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Nov 6: There had been no improvements in demand patterns in Indian polymer markets. Buying activities in polymer markets across the country continued to remain sluggish, caused by bearish sentiments of buyers due to producers hiking their prices.Qatar Petrochemical Company (QPC) will inaugurate on November 20,2012 its newly set up 300,000 metric tonne per annum (MTPA) LDPE plant at its existing petrochemical production facility in Mesaieed Industrial City of that country.Construction of the plant began in 2009, and the project has been completed within three years.
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Nov 5: Buying sentiments continued to remain bearish in Indian polymer markets due to the recent price-hikes by producers in their latest price revisions.Demand patterns in markets continued to remain sluggish.It was also heard that PVC offer-prices also increased from the previous rates.On the other hand, Indo Rama Synthetics (India) Limited, headquartered at Gurgaon, has today signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for setting up PTA, PET and PSF plants in the state.In India, demand and supply situations for PTA are not balanced, with demand surpassing supply while PET is produced in the country predominantly by RIL and JBF Industries Limited.Equate Petrochemical Company's 550,000 metric tonne per annum (MTPA) Mono Ethylene Glycol (MEG) plant, which was shut-down in July this year, has resumed operations. The plant was shut-down due to damages caused by a fire-outbreak incident.
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Nov 3: Polymer prices in Indian markets assessed today showed an upward trend with most prices moving up from the previous rates. The prices went up due to producers raising their prices on November 1,2012. Details of the price-hikes were covered on that day. For further details about price trends, visit our website
As a matter of fact, the functioning of the EPS line marked completion of the second phase of its project at the site. The phase saw setting up of additional Ethyl Benzene and Styrene lines.
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Nov 1: Simultaneous price hikes by Indian polymer producers dampened buying moods of buyers in Indian polymer markets. The three major producers, Indian Oil Corporation Limited (IOCL), GAIL(India) limited and Reliance Industries Limited (RIL) increased their respective polymer prices. The respective rates of price-hikes are published in the Domestic Prices section of the website.
On the other hand, Seoul-headquartered petrochemical major, Yeochun NCC, is heard to have restarted its petrochemicals plant at Yeosu in South Korea after a maintenance shut-down. The plant was shut-down for maintenance on October 22, 2012.
Oct 31: Moderating polymer prices led the Indian markets see revival of active buying activities. Prevalence of active buying trends were reported from many markets. Traders, who were contacted in this regard, said that moderation of polymer prices was the factor behind driving plastic item manufacturers to actively purchase their raw material requirements.
Petronas Chemicals Group Berhad (PCGB), headquartered at Kuala Lumpur in Malaysia, will discontinue its Vinyls business with effect from January 1,2013, the company said in a release. According to the company, the discontinuance was considered on account of the business falling behind the other businesses of the company.
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Oct 29: Bearish buying sentiments continued to prevail in Indian polymer markets. Traders, who were contacted, said that they experienced sluggish demand in markets. Market prices of polymer also did not undergo any major fluctuations.
On the other hand, China based BP Zhuhai is heard to have shut-down its 1,100 kilo tonne per annum PTA plant for maintenance purposes. The shut-down is expected to last around 10 days
China-based Xianglu Petrochemical is heard to have restarted its 1,600 kilo tonne per annum PTA plant. The plant was shut-down in mid-October 2012.
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Oct 25: Indian Oil Corporation Limited (IOCL) and Reliance Industries Limited (RIL) have increased their prices for PP. If the price hikes are viewed from the demand perspective, the companies seem not to have any perceptible reason to increase the prices, as market demand for polymers continues to remain sluggish in Indian polymer markets.
In a communication with a Chinese source, Ningbo Mitsubishi Chemical Company is learnt to have shut down its 600 kilo tonne per annum PTA plant for maintenance.
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Oct 23: Poly Styrene (PS) traders experienced low market demand due to prices of GPPS and HIPS going up. PS prices in Indian markets have gone up due to prices of domestic as well as imported PS prices drifting upwards. PS prices have gone up globally, including India, on account of global prices of Styrene, the key feedstock, increasing due to supply shortages.
Taiwan-based Nan Ya Plastics Corporation is heard to have restarted operations of its MEG unit, which was shut-down in last week of September 2012. The shut-down was due to occurrence of a fire-outbreak incident.
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Oct 22: According to sources, Jilin Petrochemical Company has shut-down one of its Acrylonitrile production lines due to some technical problems.
Meanwhile, Indian polymer markets are sustaining contrasting price trends, with prices of PE, PP and PVC drifting down, but, prices of Poly Styrene (PS) traversing upwards. It is also worth mentioning that Styrene is not produced in India, the entire demand in the country is met through imports.
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Oct 20: China-based Fushun Petrochemicals is heard to have planned for a shut-down of its 92 kilo tonne per annum Acrylonitrile plant for maintenance purposes.
On the other hand, Mumbai-headquartered JBF Industries Limited's ongoing overseas project of setting up a Poly Ethylene Terephthalate (PET) plant at Geel in Belgium has gained a forward-push with the company awarding the German engineering servive provider, Uhde Inventa-Fischer, the contract of providing technology in building the plant.
Bearish buying sentiments continued to prevail in Indian polymer markets, amid polymer prices softening, primarily on account of producers reducing their product prices in the recent past. In the recent price revisions, Reliance Industries Limited (RIL) and Indian Oil Corporation Limited (IOCL), reduced their polymer prices, in succession from their earlier reductions. And, the rates of reductions were already published in the corresponding coverages.
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Oct 18: Brazilian petrochemical major, Braskem, has launched newly developed Poly Ethylene (PE) resins, named as, HS4506 and HS4506A. HS4506 was developed for production of automotive fuel tanks, While, HS4506A contains special additives that ensure more resistance to Ultra Violet Radiation and bad weather conditions.
Meanwhile, European petrochemical major, Total, developed a new kind of polymer, named as Excell-R, which is endowed with superior characteristics, mainly in terms of energy efficiency.
China Petrochemical Corporation, commonly known as Sinopec, is heard to have planned for a maintenance shut-down of its 200 kilo tonne per annum PP plant at Shanghai.
Successive price reductions by Indian petrochemical producers, Reliance Industries Limited (RIL) and Indian Oil Corporation Limited (IOCL), were the most notable aspects in the Indian polymer markets. RIL reduced its prices for HDPE and LLDPE. The company also reduced its prices for PP Homopolymers and PP Co-polymers. Moreover, RIL reduced its PVC price. Likewise, IOCL reduced its prices for HDPE, LLDPE and PP.
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Oct 17: South Korea-based Honam Petrochemicals is heard to have shut-down its 400 kilo tonne per annum MEG plant for maintenance purposes.
Meanwhile, In the Petrotech 2012 Conference at Vigyan Bhawan in New Delhi, participants of the Dehradun-based Indian Institute of Petroleum delivered a presentation, in which, they talked about some of the available resources, which could be used as alternate feedstocks for petrochemical production in sustainable ways in the long run.According to the presentation, readily available substances, like, polymeric wastes, bio-mass and Carbon Di-Oxide gas, could be used as feedstocks for petrochemical production, in order to counter the imminent threat of declining Naphtha and Natural Gas supplies, due to depletion of Crude Oil reserves.The detailed description is available in the presentation, which is uploaded in the Reports section of our website, and is available for downloading.
Now refineries can increase Propylene production by three-fold without installing any new machineries, though a novel technique developed by Hindustan Petroleum Corporation Limited (HPCL). In the Petrotech 2012 Conference at Vigyan Bhawan in New Delhi, participants of HPCL highlighted the novel technique in a presentation titled, in which, the participants detailed the technique, which is apparently useful for refineries in India to enhance production of the highly profitable petrochemical raw material. The detailed technique is available in the presentation, which is uploaded in the Reports section of our website, and is available for downloading.
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16 Oct: Availability of cheaper alternate feedstocks and emergence of new technologies will economize petrochemical productions in the days to come, as highlighted in a presentation delivered by Bipin V Vora, a consultant with UOP, at the Petrotech 2012 Conference at Vigyan Bhawan in New Delhi today. During the presentation, Vora highlighted the cheap feedstocks available for petrochemical production, and the related technologies which UOP provides.For reference purposes, the presentation is uploaded in the Reports section of our website, which is available for downloading.
On the other hand, India is set to almost triple plastics consumption by the next decade, and not only plastics consumption is rising rapidly in the country, but also, the country has already established itself firmly on the global map as a major petrochemical production centre.In the Petrotech 2012 Conference at Vigyan Bhawan today, Ian T Woodcock, of Invista Performance Technologies (headquartered in UK), delivered a presentation he highlighted technologies of his company which could be beneficial for Indian petrochemical producers. For reference purposes, the presentation is uploaded in the Reports section of our website, which is available for downloading.
Reliance Industries Limited (RIL) has restarted operations of its 360 kilo tonne per annum PVC plant, which was shut-down for maintenance.
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15 Oct:The Research and Development Centre of Indian Oil Corporation Limited (IOCL) has developed a new patented process technology for conversion of low value Naphtha into Olefins and Aromatics. According to a presentation delivered by participants of IOCL at the Petrotech Conference at New Delhi today, the new technology is superior to the existing similar technologies in extracting more Olefins from Naphtha, produced in refineries during Crude Oil refining. For reference purposes, the presentation is uploaded in the Reports section of our website, which is available for downloading.
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13 Oct: Bearing buying sentiments and moderation of prices prevailed in Indian polymer markets on the last day of the week. Sluggish demand continued to persist. Several buyers, with whom their buying practices were discussed, said that they continued to prefer to purchase their raw material requirements from the local markets.
In similar market trends, as in India, PE and PP prices in Chinese markets also underwent moderations. Interacting with traders in Chinese markets, the latest prices of LDPE, LLDPE & PP were learnt during the interactions.
South Korea based Samsung Petrochemicals is heard to have temporarily shut-down its PTA units for maintenance. According to the hearsay, the shut-down involves the company's two PTA units.
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11 Oct: In its latest price revision, Haldia Petrochemicals Limited has reduced its prices for HDPE and LLDPE respectively. The company also has reduced its PP price in the price revision.Demand in polymer markets in the country, as such, remained sluggish.
Government of India owned engineering consultancy, Engineers India Limited (EIL), will prepare the Draft Feasibility Report (DFR) for the project of setting up a Nickel-based Poly Butadiene Rubber (Ni-PBR) plant by GAIL (India) Limited, one of the promoters of ONGC Petro-additions Limited (OPaL).EIL has been chosen to prepare the DFR on the basis of certain competencies, which were considered relevant.
Poly Ethylene Terephthalate (PET) production capacity in India has gone up by 2,10,000 tonne per annum (TPA), with Dhunseri Petrochem and Tea Limited (DPTL) setting in motion commercial operations of its newly set-up PET plant, of the said capacity, at Haldia in West Bengal.The new plant was built with technical collaboration of the Germany-based Oerlikon Barmag, which was the engineering, procurement and construction (EPC) contractor as well as process licensor for the project.
The Japanese company Mitsubishi Chemical Corporation (MCC) has shut-down the cracker, which produces Ethylene.Details regarding restart of the cracker is, however, yet to be known.
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10th Oct: Polymer prices in Indian markets softened on account of gradual appreciation of the Rupee against the Dollar. Market demand, thus, remained sluggish,causing polymer prices to dip. Price declines were not only witnessed in the Indian markets. Our price assessment for Asian markets also reveals that polymer prices in the continent also underwent downward traversals.
On the other hand, Seoul-based Samnam Petrochemical is heard to have scheduled for restart by the end of October this year & China-based Tianjin Petrochemicals had suspended operations of the plant in August this year.
Ethylene production capacity in China has gone up by 600 kilo tonne per annum (KTPA) with a new plant going on-stream recently. Daqing Petrochemical has commenced operations of its newly set-up Ethylene plant.
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