Various market traders, as of 10th November, 2020, have confirmed that chemical prices  have increased in the Chennai market.

The price rise was supported by stronger upstream crude and gasoline values and improved regional buying sentiments.

The steep price rise was on the back of high upstream energy values and limited product availability, coupled with bullish cues from Asia and Europe.

Stronger upstream crude values and gains recorded in downstream PX rates, pushed MX prices higher in the U.S.A.

The company recently resumed operations at the plant following a brief outage.

On November 10th, 2020, Acetic Acid prices went down in Mumbai.

PAN prices have continuously increased from this week indicating a shortage of supply with a growing demand of 10%.

JNPT has announced a price revision for Mixed Xylene.

Benzene prices have declined in the US Gulf and Rotterdam owing to  soft demand trends.

PAN prices picked up in Asian markets on the back of strong demand trends coupled with high saturation in the market.

The company has recently reduced run rates at the unit. The reason behind the lower run rates could not be ascertained.

As of  10th November 2020, despite weaker upstream values, DOP prices gained in China and SE Asia.

Bis Phosphoric Acid  prices have picked up in the Asian market.

Despite weaker upstream crude and naphtha values last Friday, propylene prices were assessed flat in Asia on Monday.

TK Chemical is in plans to bring on-stream its polyethylene terephthalate (PET) unit following a brief maintenance.

The price gain was prompted by stronger regional demand trends and limited product avails in the region.

On Monday, open spec naphtha bid prices for the 2H of Dec were assessed lower at the USD 354/mt CFR Far East levels while the ask rate was at the USD 356/mt CFR Far East levels.

Despite weaker upstream PX values, PTA prices were assessed steady  in Asia.

A major producer from Europe is heard to have offered MEK at the USD 850/mt levels.

A Chinese producer is heard to have offered VAM at the USD 825-835/mt levels.

A major producer from Taiwan is heard to have offered Acetone at the USD 860-870/mt levels.

The company is currently operating its plant at 100% production capacity rates.

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