Chemicals News Today

Vinyl Acetate Monomer (VAM) prices in India rose by ₹2/kg due to higher feedstock costs and robust downstream demand. Supply constraints from limited shipments and INEOS's plant shutdown added upward pressure. Domestic VAM production resumed, reducing some import dependency. Seasonal growth in paints, coatings, and adhesives boosted market sentiment.

Ethylene prices exhibited a mixed trend across global regions. In the USA, ethylene offers remained stable at 32.45 cents per pound on an FD GC basis. Meanwhile, in Europe, ethylene prices increased slightly, with FD NWE at €865/MT, up by €5, and CIF NWE at €875/MT, up by €15. In Asia, ethylene prices remained unchanged, with CFR NEA at $875/MT and CFR SEA at $925/MT.

Formosa Plastics has temporarily shut down its Polyvinyl Chloride (PVC) unit in Baton Rouge, Louisiana, USA, due to the anticipated freezing weather. The unit, with an annual production capacity of 750,000 tons, is expected to remain offline until January 23, 2025.

Reliance Industries Limited (RIL) has temporarily shut down its Linear Low-Density Polyethylene (LLDPE) unit at Jamnagar, Gujarat, for scheduled maintenance. The facility boasts a production capacity of 450,000 tons per year.

Wanhua Chemical Group has commenced operations at its new LDPE plant in Yantai, Shandong, China. The facility has a production capacity of 250,000 tons per year.

Hanwha Solutions is set to shut down its No. 1, No. 2, and No. 4 caustic soda production lines on February 9, 2025. These lines, located in Yeosu, South Korea, have a combined production capacity of 495,000 tons per year.

China's Shen Hua has started operations at its new E-SBR plant in Nantong, with a production capacity of 200,000 metric tons annually.

TotalEnergies has announced a force majeure on polypropylene (PP) supply from its Gonfreville site. The declaration follows an unexpected outage at the PP plant, which has significantly impacted availability. As a result, the company anticipates insufficient supply to fulfill all contractual commitments.

MRPL produces Toluene for the first time in India, reducing our dependency on imports.

DCM Shriram’s chemical revenue saw a notable improvement in fiscal Q3, which ended on December 31, driven by a combination of lower energy costs and increased volumes. The company reported a significant 21% year-on-year (YOY) increase in caustic soda volumes, contributing to the overall growth in its chemical segment.