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BLOGS - ALL PRODUCT NEWS

Dubai to phase out single-use carry bags in two years, imposes tariff to discourage the circulation

On 04 Jul 2022 at 06:13 IST

In a bid to phase out single-use plastic (SUP) completely in two years, Dubai has taken its first step to curb the use of carry bags in all forms and introduced 25 fils (US$ 0.065) tariff on them beginning July 1, 2022. Abu Dhabi was the first place in the........
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US economic recessionary fear casts a shadow on India’s plastic exports

On 04 Jul 2022 at 03:17 IST

After a staggering 30 percent growth achieved in the financial year 2021-22 despite the third wave of the coronavirus (Covid) pandemic spread across a major part of the world, India’s plastic exports slowed in the April-May period of the current financial........
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Formosa Chemicals & Fibre Corp eyes maintenance at cracker ahead of schedule

On 04 Jul 2022 at 08:40 IST

Formosa Chemicals & Fibre Corp is in plans to undertake the maintenance turnaround at its No. 2 cracker in Mailiao earlier than planned.A Polymerupdate source in Taiwan informed a team member, “The company is likely to carry out a maintenance turnaround at........
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Propylene prices fall sharply in Asia

On 04 Jul 2022 at 08:30 IST

Last week, propylene prices witnessed a steep drop across the Asian region. An industry source in Asia on condition of anonymity informed a Polymerupdate team member, “Prices fell mainly on account of thin buying activity in the region amid sufficient product........
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Green hydrogen can help abate 3.6 gigatons of cumulative CO2 emissions by 2050: Niti Aayog

On 02 Jul 2022 at 10:05 IST

Green hydrogen can substantially spur industrial decarbonisation and economic growth for India in the coming decades and help abate 3.6 gigatons of cumulative CO2 emissions by 2050, Niti Aayog said in its latest report. Releasing late Thursday, the report........
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Xuzhou Haitian brings PP unit onstream

On 02 Jul 2022 at 08:40 IST

Xuzhou Haitian Petrochemical has restarted its Polypropylene (PP) unit in Jiangsu.A Polymerupdate source in China informed a team member, “The unit resumed operations recently. It was shut for maintenance on June 21, 2022.”Located at Xuzhou, Jiangsu in China,........
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Govt empowers local authorities for penal action on violators of single-use plastic ban from July 1

On 01 Jul 2022 at 04:57 IST

After getting empowered by the Union Ministry of Environment, Forest and Climate Change (MoEF&CC), the Central Pollution Control Board (CPCB) has authorized state authorities to take necessary action including cancellation of commercial licenses of the........
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Crude oil prices tumble on Thursday

On 01 Jul 2022 at 04:16 IST

Energy and Feedstock newsCrude oil prices tumbled on Thursday as the OPEC+ group decided to continue with a planned hike in crude oil production. Brent crude prices fell by USD 1.45 settling at $114.81 per barrel while WTI futures decreased by USD 4.02........
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Fujian Refining resume production at No. 3 PP plant

On 01 Jul 2022 at 08:40 IST

Fujian Refining and Petrochemical has brought onstream its No. 3 Polypropylene (PP) plant in Quanzhou.A Polymerupdate source in China informed a team member, “The plant resumed operations on June 28, 2022. It was shut for maintenance on June 16, 2022.”Located........
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SM prices gain in Asia

On 01 Jul 2022 at 08:30 IST

On Thursday, SM prices were assessed higher in Asia.An industry source in Asia informed a Polymerupdate team member, “Prices gained on the back of bullish buying sentiment coupled with limited product availability.”FOB Korea SM prices were assessed at the USD........
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Crude oil prices fall on Wednesday

On 30 Jun 2022 at 05:17 IST

Energy newsCrude oil prices fell on Wednesday on the back of a rise in the value of the US dollar. The fall in prices was also prompted by a rise in US gasoline and distillate stockpiles. Brent crude prices fell by USD 1.72 settling at $116.26 per barrel........
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Govt makes concerted efforts to implement single-use plastic ban from tomorrow, stakeholders clear inventory to avoid action

On 30 Jun 2022 at 02:40 IST

While the Centre along with the state governments and Union Territories is leaving no stone unturned for implementing a ban on single-use plastic (SUP) items as scheduled from July 1 i.e. tomorrow, value chain participants have reportedly worked hard to clear........
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Fujian Refining resumes production at No. 3 PP unit

On 30 Jun 2022 at 08:40 IST

Fujian Refining and Petrochemical (FREP) has restarted its No. 3 Polypropylene (PP) unit in Quanzhou.A Polymerupdate source in China informed a team member, “The unit has recently resumed operations. The unit was shut for maintenance on June 16, 2022.” ........
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Ethylene prices decline in NEA

On 30 Jun 2022 at 08:30 IST

On Wednesday, ethylene prices dropped in parts of Asia.An industry source in Asia informed a Polymerupdate team member, “The fall in prices was mainly on account of bearish demand trends in the region and plentiful product availability.”On Wednesday, CFR........
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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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