Chemical Market Update

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  • RELIANCE Basic Price Change As On 28-08-2021 keyboard_arrow_down
    DEG Basic Price Increased By 0.10/Kgs, New Basic Price Is 71.00/Kgs+GST

    MEG Basic Price Increased By 0.60/Kgs, New Basic Price Is 58.70/Kgs+GST

    PTA Basic Price Increased By 0.80/Kgs, New Basic Price Is 73.10/Kgs+GST
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  • Production Capacity for High-Purity Chemicals to be increased by Sumitomo Chemical keyboard_arrow_down
    Sumitomo Chemicals has increased it’s production capacity of High - purity chemicals for the semiconductors industry. The new production lines will double the capacity for high purity sulphuric acid and high purity ammonia water. The new production lines are due to start production by the second half of 2023.
    High-purity chemicals used in the semiconductor production process, mainly for precision cleaning, are manufactured by using ultra-high purification technology to reduce impurities down to a parts-per-trillion level in order to prevent foreign materials such as metal and organic impurities from affecting both quality and yield of semiconductors.
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  • Butadiene (BD) unit taken offline in China keyboard_arrow_down
    Jiangsu Sailboat Petrochemical, has taken off-stream one of its Butadiene (BD) unit at Lianyungangon on August 23 , 2021. The plant was shut for maintenance. Duration of the shutdown is unknown.
    The unit has a production capacity of 100,000 mt/year
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  • Loss of power results in shutdown of multiple Motiva run Units at Port Arthur keyboard_arrow_down
    Several units at Motiva’s 607,000 b/d Port Arthur, Texas, refinery shut down unexpectedly due to loss of power. Among the units shut down were a catalytic reforming unit, a delayed coker, a vacuum pipestill, and a fluid catalytic cracking unit. Motiva's Port Arthur refinery is the largest refinery in the US. Login to Read More
  • Iran restarts oil exports to Afghanistan following Taliban takeover last week keyboard_arrow_down
    Iran has restarted fuel exports to Afghanistan after the situation stabilized following a military takeover of the country by the Taliban. They closed Khorasan and Baluchestan border customs so only the South Khorasan border was open and working. The Taliban have issued a new directive cutting customs tariffs, allowing for the resumption of exports through other customs points between the countries.
    The bulk of Afghanistan's fuel comes from neighbors to the north and west. A 75-kilometer rail link between Uzbekistan and Afghanistan's third-largest city, Mazar-i-Sharif, opened in 2011, facilitating imports.
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  • Thane facility of Phiroze Sethna Private Limited closed keyboard_arrow_down
    Phiroze Sethna Private Limited was a subsidiary of Chembond Chemicals Limited. As of august 20 the Thane facility was permanently closed due to poor financial viability.
    Chembond Chemicals Limited is more than 45-year-old known in India, manufacturing a diverse range of specialty chemicals like water treatment, polymers, construction chemicals, high performance coatings, animal nutrition’s, and industrial biotech products.
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  • Lithium Hydroxide produced for the very first time at Australia's Kwinana refinery keyboard_arrow_down
    Australia based IGO and its JV partner Tianqi Lithium produced first lithium hydroxide at their Kwinana refinery in Western Australia. This chemical production is a huge move for the battery supply chain in Australia. Kwinana is the country’s first lithium hydroxide facility.
    The JV will now focus on continuous production rather than batch production.
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  • Lebanon lifts subsidy partially and raises fuel prices keyboard_arrow_down
    Due to the country’s fuel supply crisis the country lifted the subsidy partially and increased the fuel prices. The government raised the prices of gasoline and diesel effective today by more than 66 % and 73% .
    Lebanon's central bank, which manages the system of fuel imports, announced on 11 August that it would be putting an end to fuel subsidies as the country can no longer afford to foot the bill. The value of the Lebanese pound has fallen drastically and more than half the population is living below poverty level.
    Recently Hezbollah arranged for a shipment of oil from Iran to find some relief from the crisis.
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  • South Korean port operations hampered due to typhoon keyboard_arrow_down
    Typhoon Omais will be the country's 12th typhoon this year . The southern parts of South Korea, such as the south Jeolla and south Gyeogsang provinces and Jeju island, will experience strong winds of up to 100 km/h and heavy rainfall of up to 400mm.
    The bad weather could restrict tanker tonnage supply in north Asia.
    Yeosu port in south Jeolla province ceased operations.South Korean refiner GS Caltex's tanker terminal at the port is expected to resume operations on 25 August.
    The southeastern Ulsan port, where South Korean refiners SK Energy and S-Oil operate terminals, will reopen morning of 25 August.
    Daesan port in the west is expected to remain closed till the evening of 24th august. Incheon port in the north has yet to announce its official closure plan.
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  • Duva oil and gas field starts up in Norway keyboard_arrow_down
    Neptune Energy is a UK private equity-backed independent entity. It has started production from the Duva oil and gas field in the Norwegian North Sea. Duva will add around 30,000 b/d of oil.Duva had been due on stream in early 2021 but commissioning was delayed by the Covid-19 pandemic. Login to Read More
  • Talks to end US sanctions on Iran’s energy industry have been stalled keyboard_arrow_down
    Iran’s president in his speech highlighted that Iran has "a lot of possibilities" to keep selling oil, as talks to end US sanctions on the country's energy industry have stalled. His priorities will be to export more added-value refined oil products. Iran produced 2.52 million b/d in July, its highest since April 2019. Despite US sanctions that are intended to heavily penalize buyers of Iranian oil, China's independent refineries have maintained some level of Iranian crude imports.
    Uncertainty over the nuclear talks creates a real possibility that 1.5 million b/d of expected Iranian supply growth through August 2022 will not hit the market. Iran's crudes are mostly sour in quality due to their high sulfur content.
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  • Pilot facility for chemical recycling Polymethyl methacrylate (PMMA) to be built in Japan keyboard_arrow_down
    Sumitomo Chemical is to set up a facility for recycling PMMA at Niihama in Ehime prefecture, Japan. The facility is expected to finish set up in 2022 and start providing samples in 2023. The capacity of the plant has not been disclosed. The used acrylic resin to be used as a raw material in this pilot test will be sourced from Nippura Co, which produces large acrylic panels for aquariums. Login to Read More
  • Acrylonitrile (ACN) plant at Kaohsiung, Taiwan likely to undergo maintenance keyboard_arrow_down
    China Petrochemical Development Corp (CPDC), is likely to take off-stream its acrylonitrile (ACN) plant at Kaohsiung.The company has planned to shut the plant for maintenance by mid-October, 2021. The ACN plant has a production capacity of 240,000 mt/year. Login to Read More
  • Vinyl acetate monomer (VAM) plant in Shizuishan to restart production keyboard_arrow_down
    Vinyl acetate monomer (VAM) plant in Shizuishan operated by Ningxia Dadi Coal Chemical is likely to start production by the end of August.
    The plant has been shut since June 15 2021.
    The VAM plant has a production capacity of 100,000 mt/year.
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  • Ethanol production stopped at GSML , due to shortage of Molasses keyboard_arrow_down
    Zuari Global Limited’s subsidiary , Gobind Sugar Mills Limited , has stopped production at its ethanol plant due to shortage of molasses. Annual maintenance has also been started at the plant. Molasses availability is being explored by GSML.
    GSML is a part of Adventz group and has been in operation for almost 60 years.
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  • Polypropylene (PP) export sales resumes in Turkmenistan after break keyboard_arrow_down
    After a 4 month long break Turkmenistan has resumed export sales of Polypropylene. Demand has been strong resulting in immediate sale of all stock with the first auction.
    Material was put up for auction at a higher price the previous week. There was no demand due to the high price. Deals were done with shipment within three months.
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  • India in plans to force refiners & fertilizer manufacturers to use green hydrogen keyboard_arrow_down
    In it’s strive to reduce carbon emissions , India’s junior oil minister has said that refineries and fertilizer plants will have to use green hydrogen. India's draft hydrogen policy will mandate a gradual increase in the use of green hydrogen instead of fossil fuels in refineries and fertilizer plants. However , green hydrogen is yet to be produced in India on a commercial scale due to the high cost of production.
    Green hydrogen is a zero-carbon fuel made by electrolysis, using renewable power from wind and solar to split water into hydrogen and oxygen.
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  • Ammonia plant & Hydrogen facilities plans to be set up in Ethiopia by China’s GCL keyboard_arrow_down
    Chinese solar panel maker GCL Group plans to set up a plant in Ethiopia to make ammonia using the natural gas produced from fields it has been developing under a deal with the local government. The company has planned a 4 million ton per annum factory of ammonia in Djibouti. The output of this plant will be shipped to another site to manufacture liquid hydrogen.
    Ammonia is easier to store and transport than hydrogen, while the latter gas is a contender in some applications as an energy source.
    GCL also plans to build 400,000 tons of hydrogen production capacity from renewable power sources, mainly solar power stations in northwestern China, by 2025.It aims to supply the hydrogen to industrial users, especially steel mills, in northeast Asia.
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  • Ethanol plant by Equistar Chemicals to be shut later this year keyboard_arrow_down
    Equistar Chemicals announced to its staff that the ethanol production plant in Tuscola will shut down permanently later this year due to poor market conditions. The company said after analysis they have made the difficult decision to permanently exit the synthetic ethanol business and close the Tuscola plant operations.
    The synthetic-ethanol market has been deteriorating for some time, and these declining market conditions make operating this business long-term financially unviable. The company expects to stop producing ethanol Oct. 31. Employees will be offered positions at other LyondellBasell holdings along with separation benefits and support.
    Ethanol is used in personal-care products, motor oil, water-filtration systems, binding agents and gasoline, to name a few items.
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  • Liaoyang Petrochemical Co Ltd starts new PP plant in China keyboard_arrow_down
    Liaoyang Petrochemical Co Ltd has successfully started up its new PP plant on Aug 20.
    Based in Liaoning City, Liaoyang Province, China, the new PP plant has a production capacity of 300,000 tons/year. The commercial run has begun.
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