Naphtha prices have registered a downward movement in Japan while moving up in Europe owing to fluctuation in the markets.

After talking to a trader in Ahmedabad, it is revealed that imports are fluctuating, which has resulted in prices going down.

In the Delhi market, the price of some Chemicals are fluctuating due to strong demand patterns in the region and shortage of material due to the pandemic.

According to our analysts a major Chinese manufacturer of chemicals stops production at its monoethylene glycol unit following a turnaround.

Styrene Monomer prices have recorded a marginal increase in CFR India, CFR SE Asia and FOB Rotterdam as mentioned by our analysts.

North-western Europe witnessed a sharp decline of Phenol prices whereas Acetone prices climbed in NOrth West Europe as informed by our analysts on 25th July 2020.

According to our analysts, Saudi Arabia is in plans to hike its Asian August official selling price (OSP) for the third month due to rising benchmarks set by the Middle East.

As of July 24th, 2020, vinyl chloride monomer (VCM) prices have been found steady in FE Asia, SE Asia, China, NW Europe, and US Gulf due to constant demand trends in the respective countries.

Naphtha prices have registered a downward movement in Europe while moving up in Japan due to fluctuations in the markets.

As of 24th July 2020, IPA prices drift down in the Mumbai market due to dwindling demand in the regions.

As of 24th July 2020, a major international producer restarted its three polyethylene plants which was closed due to low demand.

As per our analysts, a major Iranian chemical producer restarts its Methanol plant following an unplanned outage as of 24th July 2020.

Our Analysts have informed us that Kandla port has announced an upward price revision for NBA and Isobutanol with effect from July 24th, 2020.

As per our analysts a major international producer has shut its No. 2 Purified Terephthalic Acid (PTA) unit.

As per our sources, a major US producer of chemicals has taken its Phthalic anhydride unit off stream following a maintenance turnaround.

Para Xylene (PX) prices climb marginally in the international market as per our analysts.

South-East Asia and Far-East Asia witnessed a marginal price hike of Acrylonitrile as informed by our analysts. on account of active demand trends in the region.

As per our analysts, Ethylene and Propylene prices for CFR North East Asia, CFR South East Asia, FOC Korea, CFR China were recorded to be flat as of 24th July 2020.

Naphtha prices pick up in Japan and Europe on account of positive buying trends in the respective countries.

As of 23rd July 2020, IOCL has announced a domestic price revision for PP and HDPE

In the Kolkata market, the price of Chemicals is fluctuating due to strong demand patterns in the region and shortage of material.

A Mumbai market trader has confirmed as of 23rd July 2020 that the price of Acetonitrile has increased in the Indian market.

As of 23rd July, 2020, price of SM decreases due to fluctuation in demand and shortage of material in Mumbai market.

As of 23rd July 2020, CIF NS-Mumbai has announced new offer prices for HDPE grades Raffia, Blow Moulding, HM Film and Injection Moulding.

The plant will be designed to produce 450,000 metric tons per year (m.t./yr) of polypropylene.

RIL has a giant crude to chemical game plan
It is extremely ambitious in its scale

Production margins were hovering at multi-year lows in early July as oversupply continues to pressure the polyester chain.

The prices of almost all the petrochemical products discussed under pressure had declined in the broad range of 0.3%-29% y-o-y in FY20.

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