Chemicals News Today

Recent market dynamics have prompted local importers to adjust the price of Acetic Acid downward by Rs.1.00/kg. Currently, prices stand at Rs.36/kg ++ Ex Mumbai and Rs.35/kg ++. GNFC has announced a price reduction of Rs.1/kg on Acetic Acid to Rs.37.5/kg ++ Ex Bharuch.

India's Food Secretary highlights the country's shift towards sustainable sugarcane production at the New York Sugar and Ethanol Conference. Emphasis is being laid on water conservation and micro-irrigation systems in water-stressed areas.

Europe's toluene prices dropped in early May 2024 due to excess supply and stable demand. The surplus is disrupting the balance between supply and demand. Price volatility of naphtha and crude oil significantly impacts toluene production costs.

Global Caustic Soda prices stabilized in early May 2024 due to slower downstream demand and limited stock, alongside planned plant turnarounds. Reduced production rates and Chinese plant shutdowns in April 2024 impacted the competitive landscape.

"Global Ammonia market trend differs regionally. A decline is observed in the West while Asia records a surge, attributed to varying regional demand, economic uncertainties, and differing regulatory frameworks."

Ethylene prices in Europe have rebounded after falling for two weeks, driven by high raw material costs. Despite a decrease in supply, producers struggled to expand margins due to weak downstream demand. German market saw a $20/MT increase.

Specialty chemicals firm LANXESS reported a 15.4% dip in Q1 2024 sales to €1.6 billion due to weak global chemical industry economy. However, it predicts a 10-20% earnings boost in the current fiscal year.

Discover the implications of fluctuating oil prices on naphtha and petrochemicals, with insights into PX market trends. Explore South Korea's PX exports and the impact of maintenance on plant operations, providing valuable insights for industry stakeholders in May 2024.

Isopropyl Alcohol prices have experienced a notable uptick, marking a Rs.0.5/kg increase to Rs.115.50/kg ++ Ex Kandla and Rs.117/kg ++ Ex Mumbai on 60-day Credit terms. Deepak Phenolics, an authorized dealer, is offering higher prices at Rs.118/kg ++ Ex Dahej on Advance payment terms.

Plug Power plans to supply up to 3GW of electrolyzer capacity to Allied Green Ammonia's production facility in Australia. The strategic partnership seeks to build one of the world's largest green ammonia sites.