News & Bulletin Updates

Discover the company's internal business situation and current financial situation. How is business going?
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Learn more about the weekly update on Petrochemical Price Update
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Find out why does the manufacturer and exporter of woven and knitted garments, such as shirts, blouses, skirts, t-shirts, polo shirts and sweatshirts, is shying away. Is the company doing well.Click details for more.

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Gross margin declined to 37% from 52% YoY and 43% QoQ because of the sharp drop in yarn prices along with inventory of high-cost cotton. Consequently, EBITDAM stood at ~7.3% in Q3FY23 vs. 24.2% YoY and 14.6% QoQ. This is the lowest quarterly EBITDAM in the past almost 10 years, barring Q1FY21 (Covid lockdown period).
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Petroleum, chemical and petrochemical investment regions are predicted to attract investments worth USD 420 Bn.
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The heaviest piece of machinery provided by Godrej Process Equipment, a pioneer in producing custom-built process equipment, was a xylene column. For the integrated paraxylene-purified terephthalic acid (PX-PTA) project at the Paradip refinery in Odisha, India, Tecnimont created the equipment, which weighs 1000 t.
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England’s Competition and Markets Authority (CMA) announced an inquiry into to Yokohama Rubber Co., Ltd / Trelleborg Wheels Systems Holding AB merger on January 31st.
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Greenerd Press & Machine Company has announced its latest 2500 Ton Compression Molding Press, with 10-foot square heated platens maintaining 500-degree (Fahrenheit) surfaces to +/- 5 degrees. This 2500 Ton Press is part of a seven-press order which is currently being built in their main facility.
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While activity increased, the spot resin markets continued to move more slowly than usual in January. Completed volumes were once again below normal as most buyers remained uninspired. After tornadoes and extreme weather in the greater Houston region affected several petrochemical complexes and caused one company to declare another Force Majeure on Polyethylene and Polypropylene, there was some resurgence in demand, at least for Polyethylene.Click details for more.

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According to statistics for the trading week that concluded on January 27, butadiene prices in Europe (FD Hamburg) increased for the third straight trading week.
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As clients continue destocking, Synthomer plc anticipates that demand for nitrile rubber (NBR) gloves will be low through the end of 2023. Furthermore, Synthomer stated in a full-year trade update released on January 31 that there was still strong end-user demand for medical gloves.
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The current inquiry by the UK's competition and markets regulator (CMA) into its €2.1 billion contract to sell Trelleborg Wheel Systems is, according to Trelleborg AB, "standard practise." The buyer (in this example, Yokohama) submits the application, and then the authorities begin their reviews.
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The first facility in the United States will be built by the chemical PET recycling business Revalyu Resources with an initial investment of $50 million. In Georgia, a PET chemical recycling facility will be constructed.
Early in 2023, building will begin, and it won't be finished until 2024, when the facility will be put into service.Click details for more.

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Get the latest rubber prices for Singapore.Click details for more.

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A long-term partnership between Citroniq Chemicals LLC, a manufacturer of carbon-negative materials, and Mitsui Plastics Inc (MPI), a wholly owned subsidiary of Mitsui & Co (USA) Inc (a subsidiary of Mitsui & Co Ltd - Tokyo, Japan), announced the signing of a letter of intent for a significant supply agreement for sustainable polypropylene.Click details for more.

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Feb 02, 2023: Union Budget 2023

The majority of the Indian chemical industry across all sectors believes that the duty structures and GST need to be worked out along with the launch of the PLI programme for the chemical sector.Click details for more.

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On February 24, 2023, Arun Baroka, Secretary, Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers, Government of India, will deliver a keynote talk at the first AgroChem Summit. The summit's main topics will be policy support for the expansion of the Indian agrochemical industry, the creation of an enabling regulatory environment for the sector's growth, the use of drones in agrochemical production, a cooperative strategy for realising the sector's potential, and agrochemicals 2030: The Perfect Time.Click details for more.

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8A clutch of five public sector companies are mean to have a capex Rs 1189 crore
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8It looks like Indian Strategic Reserve Ltd (ISPRL) could not spend the allocated funds in the current.
8And both, the capital outlay for additional underground storage capacity and the funds allocated for the purchase of crude oil will not have to be utilized in 2023-34

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8Project Name: Kozhikode & Wayanad Districts City Gas Distribution
8Project Cost: Rs 300 crore.
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8Looks like the allocation in the budget for subsidy allocation to poor households has been taken out
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8This is going to be a major setback
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Technical Ammonium Nitrate Greenfield Project
8Cost:  1170 Crore
8Project Event:The project has got Environmental clearance in December 2022. RFQ for the LSTK contractor is likely to be released in March 2023.
Sulphuric acid Plant Greenfield Project
8Cost: 182 Cr.
8Project Event: RFQ for the LSTK contractor is likely to be released March 2023. RFQ for the preparation of the Techno Economical Feasibility Report (TEFR) has been out, and finalization is due ,It is likely to be finalized at the end of February 2023.The project has  elicited environmental clearance.

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A decrease in dilute nitric acid prices has been noted at Ahmedabad today.

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On February 01, 2023, Isobutylene prices were pushed higher in the Delhi market.

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