Chemicals News Today

MEK import prices in India dropped by ₹3/kg to ₹88.50/kg (Ex-Kandla, 30-day credit), driven by weak downstream demand and ample inventories. Domestic Cetex prices stand at ₹90–92/kg (Ex-Chennai). Market sentiment remains cautious, though steady demand from printing inks and packaging sectors may stabilize prices post-April.

Petronas Chemicals' 550,000 metric tons per year p-xylene plant at Kerteh will remain shut after turnaround due to poor margins.

China's adipic acid exports saw a month-over-month increase in March, with exports to India rising significantly.

Borouge expands olefin and polyolefin production at Ruwais, targeting 6.6 million metric tons per year by 2028, including a new 320,000 metric tons per year capacity increase.

Polypropylene (PP) international offers continue to trend lower due to weak global demand. Chinese-origin PP Raffia is being offered at around $925 per metric ton for the Indian market. Given current market sentiment and subdued buying activity, domestic prices are expected to decline by approximately Rs. 2–3 per kilogram in the coming week.

Petronas Chemicals' HDPE, LLDPE, and cracker units in Kerteh, Malaysia, each with 125,000-ton annual capacity, face unplanned shutdown until mid-May 2025.

Sinopec Mitsui Chemicals' Shanghai plant, with a 250,000-ton Phenol and 150,000-ton Acetone annual capacity, has restarted operations.

Polyethylene (PE) markets continue to face downward pressure due to weak demand from China, Southeast Asia, and India. International offers for May shipments have been assessed lower by around $50–75 per metric ton for Vietnam and $30–40 per metric ton for the Indian market. A further drop in June offers is anticipated. Domestically, Indian producers are struggling to secure orders, with direct one-to-one deals becoming more common. Over the next 2 to 3 weeks, prices are expected to decline further by approximately Rs. 4 to 5 per kilogram.

Sinopec reduced propylene prices by CNY 100 per metric ton in East China on April 27, 2025.

LG Chem's 240,000-ton/year Daesan PVC plant in South Korea will undergo scheduled maintenance from late April to early May 2025.