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OfBusiness Chemicals Daily Market Report | 12th June 2024
Chemicals
Daily Market Report
12 June

OfBusiness Chemicals Daily Market Report | 12th June 2024

Importers have raised Toluene prices by Rs.1/kg, setting the new rates at Rs.88.5/kg ++ Ex Kandla and Rs.88/kg ++ Ex Mumbai, with advance payment terms. Meanwhile, traders quote range from Rs.89/kg ++ to Rs.89.5/kg ++ for 30-60 days credit.
Yara starts up Europe’s largest green hydrogen plant in Norway

Yara starts up Europe’s largest green hydrogen plant in Norway

Yara International, a fertilizer manufacturer, has begun production of renewable hydrogen and ammonia at its Heroya plant, Europe's largest electrolyzer, based in Porsgrunn, Norway.
European Potassium Silicate Makers See Price Upsurge Amidst Asia’s Mixed Trends

European Potassium Silicate Makers See Price Upsurge Amidst Asia’s Mixed Trends

May 2024 saw significant price fluctuations in the global Potassium Silicate market. European prices surged, while Asia displayed a mixed trend, with prices falling in China and South Korea due to weak demand, but remaining stable in India.
Sarnia shutdown for Ineos Styrolution

Sarnia shutdown for Ineos Styrolution

Ineos Styrolution will permanently cease operations at its styrene monomer production site in Sarnia, Ontario by June 2026. The decision, dictated by the facility's economics and dim long-term prospects, was announced by CEO Steve Harrington.
Fertiliser maker Paradeep Phosphates launches nano urea and DAP products

Fertiliser maker Paradeep Phosphates launches nano urea and DAP products

Paradeep Phosphates Limited (PPL) launches biogenic Nano Urea and Nano DAP, branded as Jai Kisaan Navratna Nano Shakti. The Nano Urea is expected to optimize storage, cost, and enhance crop yields significantly.
GAIL to set up Rs. 60,000 crore ethane cracker project in Madhya Pradesh

GAIL to set up Rs. 60,000 crore ethane cracker project in Madhya Pradesh

GAIL (India) plans to establish a 1500 KTA Ethane Cracker Project, producing various ethylene derivatives, in Madhya Pradesh. An estimated investment of Rs. 60,000 crores, the project is to be situated on 800 hectares provided by MP Industrial Development Corporation.
Weak Downstream Demand Lowers German Propylene Prices During May 2024

Weak Downstream Demand Lowers German Propylene Prices During May 2024

May 2024 saw a downturn in European Propylene market with prices declining due to an oversupply and lower demand, especially from beverage bottling industry, following a weaker-than-expected peak season post Easter holidays.
Nippon Shokubai Indonesia Earns ISCC Plus Certification for Key Polymers

Nippon Shokubai Indonesia Earns ISCC Plus Certification for Key Polymers

Nippon Shokubai Indonesia, a subsidiary of Japan's Nippon Shokubai Co., achieves ISCC Plus certification for its acrylic acid, acrylates and superabsorbent polymers, marking a start to their manufacturing and marketing.
Sustainable Plastics May-June issue is live

Sustainable Plastics May-June issue is live

Global focus on plastic recycling increases ahead of the Plastics Recycling Show Europe (PRSE). Key topics include mass balance, recyclate use demand management, and plastics packaging waste regulation. PRSE is a significant, fully-booked recycling event.
Toyo Styrene’s Japan plant produces first chemically recycled PS batch

Toyo Styrene’s Japan plant produces first chemically recycled PS batch

Japan's first PS chemical recycling plant, a joint venture by Toyo Styrene and Denka, successfully produced its initial on-specification recycled monomer batch using Agilyx's technology. The operational plant is located at Denka's Chiba Factory.

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