News & Bulletin Updates

On January 10, 2023, inco nickel prices were pushed significantly higher in the Mumbai market.

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On January 10, 2023, Petrochem sources reported a down in the prices of silver in the metal market of Mumbai.

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On January 10, 2023, Petrochem sources reported a fall in rhodium prices in the Mumbai market.

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An increase in zinc alloy grade zamak 3 and zamak 5 prices has been noted in Delhi today.

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An elevated demand trend is noticed in zinc ingot prices.

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A significant fall in dibutyl phthalate prices in the Kolkata chemical market was reported by Petrochem sources today.

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An elevated trend is noticed in phthalic anhydride prices.

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The Expert Appraisal Committee meeting (Industry -2 Sector) is scheduled to be held on January 10, 2023, through Video Conferencing.
8Proposals include expanding existing distillery capacity from 100 KLD to 160 KLD (Molasses Based Distillery) and co-generating power from 3 MW to 4 MW. Proposed 120 KLD Grain Based Ethanol plant along with 3.4 MW Co-generation Power Plant

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8The National Green Hydrogen Mission aims to make India the global hub for the production of green hydrogen
8The total outlay for the mission is Rs19,744 crore

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8Nayara Energy has adopted a phase-wise Asset Development Strategy to enter the petrochemicals sector
8The company expects the production of its first petrochemical product ie. polypropylene by 2023

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8Granules India Limited will build a green field facility for large-scale manufacturing of key starting materials (KSM), intermediates, APIs and fermentation-based products in Kakinada, Andhra Pradesh

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8Get the latest rubber prices for Singapore

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8The project intends to monetize NGLs and other feedstocks from OQ's JV refinery to manufacture petrochemical products targeting markets linked to the energy transition, clean technologies and mobility

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8The enforcement date of the Quality Control Order (QCO) of the following 10 Chemicals is due during the month of February and March 2023:
--Morpholine 01.02.2023
--Acetic Acid 03.02.2023
--Methanol 03.02.2023
--Aniline 03.02.2023
--Pyridine 13.03.2023
--Gamma Picoline 13.03.2023
--Beta Picoline 13.03.2023
--Potassium Carbonate 13.03.2023
--Acetone 13.03.2023
--Sodium Tripolyphosphate 13.03.2023

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8The rating reaffirmation reflects healthy growth in the operating income of Tirumala Cotton & Agro Products Private Limited (TCAPPL) in FY2022 to Rs. 405 crores (Rs.282.4 crore in FY21). However, the company's revenues are likely to decline by 10-15% on account of a sharp increase in cotton prices and pressure on yarn demand

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8The raw material purchased may not be used in the production of banned Single Use Plastic (SUP) items, listed in PWM Rules 2016. Non-prime grades would be cheaper by Rs 800 PMT compared to corresponding prime grades
8The prompt payment incentive is Rs 75/MT per day

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8Gains were capped by losses in the Shanghai market amid continued concerns of a global economic slowdown
8Rubber demand sentiment has been mixed over the past month after China relaxed its strict COVID-19 curbs

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8Researchers have identified an 'efficient, water-based' process for producing formic acid from pine needles to replace less sustainable chemicals.
8Carbon dioxide is introduced as sodium bicarbonate and the co-conversion with captured. carbon dioxide makes it more efficient and in this case, makes more of the end product - formic acid
8Refineries could also use mixed biomass feedstock at different times of the year when different waste products are more abundant

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8Arvind Kejriwal, the chief minister of Delhi, has urged the government to reduce the import duty on synthetic rubber for short-term use. India does not produce rubber EPDM (ethylene propylene diene monomer) and its prices have doubled due to the pandemic, he said.

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The number of monkeys in the rubber plantation area is much lower than in nearby forests.
8The conversion of tropical forests into plantations has a major effect on non-human primates and plant species

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8China Synthetic Rubber Corp. (CSRC) is adjusting its carbon black production network to compensate for the year-end closure of a facility in the US
8The Phenix, Alabama facility had not met regulatory upgrade requirements to reduce emissions from the site

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8The deal will fund the expansion of Nexus's pyrolysis operation for plastics recycling
8Future plans include an additional US facility and the goal of increasing capacity to process 250 million lb/yr

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The fertilizer industry is in the throes of dramatic change
8It is also the biggest buyer of gas
8And these changes will dramatically impact the gas industry in India too

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8The Mumbai-Nagpur-Jharsuguda natural gas pipeline of GAIL is unlikely to meet its deadline
8Find out what is the latest on it

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GSSP/GBSSP/GZSSP/GPG/BSP/BSG Expansion Project
8Cost: 48 Cr.
8Project Event: The company is still talking with a local contractor, which is likely to be finalized in March 2023
Ammonia Storage Tank Greenfield Project
8Cost: 100 Cr.
8Project EventRFQ for the ammonia storage tank with associated facilities has been re-released,  and the bid due date has been extended from 16 Dec 2022 to 13 Jan 2023, due to lack of bidders. In the previous RFQ, Vijay Tank was in the race

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