Chemicals News Today

Haldia Petrochemicals is commissioning a ₹6,000 crore phenol and acetone plant in Haldia. India's largest phenol facility, it features first-on-purpose propylene unit, boosting industrial growth, employment, and reducing import dependence in Bengal.

GEM Aromatics commenced GEM Cool 5 & Safranal production at its Dahej facility. Catalyst manufacturing for MEHQ is on track for Q4FY26. The company secured USD 1 Mn export orders from USA/Europe, reflecting improving global trade.

BASF increased Lupranate MDI prices by $200/metric ton in ASEAN countries immediately. This is due to tight supply and global maintenance shutdowns impacting the polyurethane supply chain.

Styrene prices in India held steady at ₹96–97/kg as Asian benchmarks rebounded on firmer benzene and renewed post-holiday buying. Global supply remains adequate, but restocking has tightened the near-term range. India’s full import dependence keeps domestic pricing closely aligned with international feedstock and freight movements.

Cosmo Speciality Chemicals launched CosmoWhite (premium white masterbatches with TiO₂) and CosmoAdd (additive masterbatches for enhanced processing/durability), expanding its specialty chemicals portfolio. This reinforces its position in value-added polymer solutions.

India’s Morepen Laboratories has secured a $91 million contract development and manufacturing organization (CDMO) agreement, marking the largest mandate in the company’s history and strengthening its global presence in the pharmaceutical outsourcing space. The deal is expected to enhance Morepen’s manufacturing scale and reinforce its positioning in regulated international markets. Meanwhile, Himadri has commissioned a new specialty carbon black production line at its Mahistikry facility, expanding overall capacity. The additional output is aimed at catering to demand from plastics, inks, paints, and coatings segments, supporting the company’s strategic focus on value-added specialty materials.

Lotte Chemical will permanently close its 1.1 million mt/y Daesan cracker as South Korea begins ethylene rationalization. This three-year restructuring, approved by the Ministry, involves merging Lotte's cracker operations with HD Hyundai Chemical.

Versalis's loss narrowed due to restructure benefits, despite lower margins and volumes. The European chemicals sector remains depressed, facing macro-headwinds, high input costs, and oversupply, impacting competitiveness.

Alujain Corp. (Saudi Arabia) and Beaulieu International Group NV (Belgium) signed an MoU on Feb. 26 for a joint venture in Saudi Arabia to produce synthetic fibers and nonwovens, focusing on expansion.

European Nylon 6 extended gains, while US Nylon 6 and 66 held steady at 99 cents/lb and 147 cents/lb respectively. EVA buying interest rose in Europe due to tighter supply outlook for March volumes.