What Will Hit the Chemical Sector Most: Covid-19 Or Crude Oil?

International Plant Shutdown NewsInternational Plant Shutdown News

  • ABEL Chemical goes for indefinite shutdown in its Styrene Monomer PlantABEL Chemicals with an installed capacity of 250 KT Styrene Monomer at Jiangsu, China underwent an indefinite shut down with no prior information on the date for resuming of operations. This temporary shutdown is anticipated to be influenced by slowdown in international chemical sector that has caused a plunge in demand for the products.
  • Saudi Aramco to shut its largest refinery for 6 weeks from June 1, 2020Oil producing giant, Saudi Aramco has reported to shut its largest oil refinery for a period of 5-6 weeks from June 1, 2020. The purpose of turnaround is to connect new units and replace the older ones for obtaining cleaner and superior quality fuel. Moreover, the company has announced the addition of a new catalytic reforming unit having 90,000 bpd capacity along with several other units.

Asia Chemical Price Scenario (Top Products)

Acrylonitrile-butadiene-styrene (ABS): ABS producers slashed the product cost as the feedstock Styrene Monomer (SM) and Butadiene witnessed downward pressure. ABS prices CIF NS, Mumbai were around USD 1290-1300/MT.

Styrene Monomer (SM): Styrene Monomer CFR prices dropped to about $500 per MT due to fall in the feedstock benzene.

Polypropylene: Polypropylene (PP) prices followed a downtrend due to muted demand in the APAC region amid coronavirus related lockdowns. PP prices CFR Asia stood around $ 800/tonne.

PET: Bearish upstream markets have continued to affect PET prices in Northeast Asia with its prices hitting a record low at $700/tonne FOB.

Paraxylene: Paraxylene prices in Southeast Asia witnessed a gradual recovery and were marked at $ 490/ tonne CFR China.

Get the Chemical and Petrochemical Industry News on Daily Basis, Weekly-Trend & Forecast and Monthly-Analyst Views

Subscribe Today!
News on WhatsApp/WeChat/Mail

First 15 days free news

WhatsApp No. +91-9914868686

For sales related query, dial +91-9958299626 or email at sales@chemanalyst.com

About ChemAnalyst

ChemAnalyst is ‘one stop’ online portal that offers comprehensive market intelligence data and in-depth analysis on the Indian chemical and petrochemical industry. Our aim is to provide competitive advantage to the industry stakeholders by offering ‘cutting edge’ information and analysis that help our customers leverage on the emerging opportunities in their businesses.

ChemAnalyst’s team of 100+ analysts are engaged in tracking Chemical Prices daily, production capacity, demand and supply outlook, manufacturing plant locations, foreign trade data and news/deals for more than 400 major chemicals produced in India. ChemAnalyst’s Interactive subscription platform provides the most comprehensive data and analysis in your industry to help you decode the future.

ChemAnalyst is promoted by TechSci Research (TSR). TSR is an award winning research based management consulting firm providing market research and advisory solutions to the customers worldwide, spanning a range of industries including Chemicals & Material, Automotive, Consumer & Retail, ICT, Energy & Power, Aerospace & Defense, Water and Waste Management, BFSI and more.

For more information, please visit us at

www.chemanalyst.com

Views: 13

Comment

You need to be a member of GlobalRisk community to add comments!

Join GlobalRisk community

Our Sponsors

Would you like to reach over 90,000 + Risk Professionals? 

REQUEST OUR MEDIA KIT

______________________

Current Partners Include:

 

Join GRC Inner Circle - Get Top Risk Resources, Member Support PLUS become our patron

Business Exchange

If your organization delivers products and services that bring value to our members, you are welcome to join our partnership program.

Companies are welcome to setup a business profile page in our Multimedia Business Directory. You will get full control of the page and can include cutting edge possibilities – videos, adverts, presentations, white papers, job offers, Press Releases, product information, company blog, news feeds and more.

CLICK HERE TO APPLY

Our Knowledge Partners

Request our MEDIA KIT

Our Twitter feed

© 2020   Created by Boris Agranovich.   Powered by

Badges  |  Report an Issue  |  Terms of Service