Chemicals News Today

China's polypropylene (PP) net exports are projected to grow in 2025, following the first net export pattern in March 2024. This is due to increased PP production capacity and changes in global demand.

HMEL has announced an Early Bird Discount (EBD) of ₹1500 per metric ton on the sale of Polypropylene (PP) and Polyethylene (PE). This limited-time offer is applicable on all purchases made between June 1 and June 16, 2025.

Despite global uncertainties and ongoing challenges, the long-term outlook for Indian chemical companies remains optimistic, driven by opportunities in specialty chemicals, import substitution, and growing exports under the China+1 strategy adopted by global customers, according to a recent report by BP Equities.

The latest feedstock offers for ethylene reflect a mixed global sentiment. In the United States, FD Gulf Coast (GC) ethylene prices have declined to 19.45 cents per pound. Meanwhile, in the European market, prices remain largely unchanged with FD Northwest Europe (NWE) stable at €695 per metric ton, while CIF NWE saw a slight drop of €5, settling at €740 per metric ton. In the Asian markets, both CFR Northeast Asia (NEA) and CFR Southeast Asia (SEA) maintained stability, with prices standing at $785/MT and $855/MT respectively.

Hyundai Chemical is set to lower operating rates at its Ethylene Vinyl Acetate (EVA) plant in June 2025. Located in Daesan, South Korea, the facility has an annual production capacity of 150,000 tons.

Lupin received US FDA tentative approval for Oxcarbazepine ER Tablets, a generic for Supernus Pharmaceuticals' Oxtellar XR. Lupin's Q4 revenue increased 12.2% YoY to ₹5,567.1 crore, with US sales at $245 million.

IOCL has declared a Special Incentive scheme for PP and Flexi APP customers for the month of April 2025. The incentive amounts are as follows: * X: Rs 2,500 per MT * Y: Rs 3,000 per MT

Formosa Petrochemical Corporation (FPCC) has commenced the upgrading process of its No.3 Steam Cracker located in Mailiao, Taiwan. The upgrade aims to enable the unit to incorporate ethane into its feedstock slate by the year 2027. The cracker has a production capacity of 600,000 tons per year for propylene and 1.2 million tons per year for ethylene.

Celanese is currently operating its Vinyl Acetate Monomer (VAM) unit at normal production rates. The plant, situated in Pulau Sakra, Singapore, has a manufacturing capacity of 210,000 tons per year.

Indian Oil Corporation Limited (IOCL) has announced a special XYZ incentive scheme for Polyethylene (PE) grades for the month of April 2025. The updated scheme details, effective as of June 5, 2025, are as follows: Incentives for HDPE (P/NP) based on APP lifting: For lifting ≥75%, the incentive is Rs. 2000 per MT For lifting ≥100%, the incentive is Rs. 2500 per MT Incentives for LLDPE (P/NP) based on APP lifting: For lifting ≥75%, the incentive is Rs. 2000 per MT For lifting ≥100%, the incentive is Rs. 2500 per MT Incentives for XRLL and XMLL based on APP lifting: For lifting ≥75%, the incentive is Rs. 2000 per MT For lifting ≥100%, the incentive is Rs. 2500 per MT