Our analysts, after talking to various sources in the Mumbai market have reported that the price of IPA has come down because of weakening demand and shortage of supply.

As of 1st August 2020, NPAC prices dropped down in the Kandla port due to the decreasing number of bookings and fluctuating demand and shortage of material.

According to our analysts this price drop was prompted by a tumble in upstream crude rates.

As of 1st August 2020, Toluene prices were seen dropping in India and the US Gulf.

Asian imports and demand for IPA has been picking up during the pandemic since its use in the production of hand sanitizers which was previously a niche market.

As of 1st August 2020, IOCL has announced a price revision for PP and PE grades as informed by our analysts.

The Indian Rupee on Saturday opened 0.12 paise up against USD.

As per our analysts a major International producer has undertaken an unplanned shutdown at the cracker on July 31, 2020.

A major International producer has brought on-stream its polyvinyl chloride (PVC) plant following a maintenance turnaround.

SPL has announced a revision in its PS prices as of 1st August 2020.

As of 1st August 2020, RIL has announced a price change for HDPE,PP,LLDPE,LDPE, PET and PVC as informed by 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 of 31st July 2020, the price of EDC and VCM remains unchanged from the previous close as informed by our analysts.

A Mumbai market trader has confirmed as of 31st July 2020 that the price of MIBK has increased in the Indian market.

As of 31st July, 2020, the price of Acetonitrile dropped down in the Mumbai market due to fluctuating demand and shortage of material.

The Asian market has seen more demand for lighter naphtha grades, but not enough to significantly support arbitrage flow from Europe as of 31st July 2020.

RIL's overall exports declined 34.8% to 32,681 crore compared to the corresponding period of the previous year as per reports.

Mitsubishi Chemical Corp. recently decided to acquire two German carbon-fiber recycling companies, CFK Valley Stade Recycling GmbH & Co. KG (CFK) and carboNXT GmbH (carboNXT) as part of the company’s efforts to promote the circular economy.

Major International chemical producer has restarted its Methanol plant following a turnaround due to maintenance.

As per our analysts, a major Chinese producers has shut its PX unit following a turnaround due to maintenance.

As of 31st July 2020, SM prices were seen dropping in Japan and South Korea .

Our analysts have informed us that Ethylene prices have remained stable for Asia as of 31st July 2020.

Lifting Discount schemes will be announced for PP post 1st August 2020 taking into account the weakening buying sentiments for the Indian market.

Our analysts afterlooking at the ongoing  crisis of the pandemic, current open bazaar scenario,

Our analysts have reported that if this pandemic becomes the new normal, demands for petrochem and chemicals may decrease in the long term scenario for the EU market.

8At least 8 vessels are on wait at Kandla with their chemical cargoes

We cover the entire matrix of chemical vessels sailing to India for unloading
8Our analysis shows that an ethane vessel is coming in for RIL at Dahej
8RIL is also importing orthoxylene, paraxylene, methanol and CBFS in large quantities

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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