Chemicals News Today

The Indian Toluene market remained firm through August, with domestic prices assessed around ₹152–172/kg over the latest 10-day period. Asian markets also strengthened, supported by tight Chinese spot availability, refinery maintenance and higher crude/feedstock costs. However, subdued downstream buying and resistance to high prices are increasingly pointing towards high-level consolidation rather than an immediate sharp rally.

BASF has immediately increased prices for MDI and TDI basic products by $250 per metric ton across ASEAN and South Asia, citing rising costs for raw materials, transportation, and energy.

India is targeting 1 million metric tons per year of PLA production, driving new feedstock demand for sugar and grain beyond ethanol through the growing bioplastics sector.

China's polypropylene prices reached a two-month high, driven by supply cuts, rising propylene feedstock costs, and recovering PDH plant operating rates at 75.73% amid improving holiday demand.

Asian chemical producers are expected to face feedstock supply constraints through 2027, with ongoing supply shocks and traditional sourcing challenges likely to keep pressure on production costs. APPEC highlighted the need for greater feedstock diversification, while the Hormuz crisis could accelerate the shift toward circular and alternative feedstocks. Meanwhile, rising Chinese chemical exports amid the US-Iran conflict may reshape regional trade flows and intensify competitive pressure across Asian markets.

PT Chandra Asri Pacific Tbk partnered with Bank Mandiri to provide enhanced banking access, payment collection, and financial support for customers in the petrochemical industry, aiming to drive long-term economic growth.

Greenwave Circularity raised $31.5 million to expand plastic recycling capacity in India, developing new infrastructure and strengthening waste collection networks to meet rising demand for sustainable packaging.

Purified Terephthalic Acid markets firmed globally as rising crude costs lifted feedstock prices, despite subdued downstream textile demand and recovering plant operating rates capping further significant gains.

Middle East disruptions have driven Asian chemical trade shifts, with China stepping in as a key supplier due to competitive coal-to-chemicals technology, boosting its styrene exports significantly.

Sulphur prices face downward pressure over 30-60 days as fertilizer producers delay purchases and cut operating rates. September Middle East contract settlements dropped by $10-40/tonne amid easing supply concerns.