Saudi Basic Industries Corp. (SABIC) and S-Oil Corp., Korea’s third-largest oil refiner by sales, said on Monday that they had inked a 5.5 trillion won ($3.7 billion) deal to work together on exporting polyethylene (PE) goods. SABIC will manage the worldwide marketing of PE products made by S-Oil under the terms of the five-year agreement, […]
On Tuesday, propylene prices rose in Korea while remaining constant in China. FOB Korea propylene prices were estimated at USD 720-730/mt, up USD (+5/mt) from Monday’s assessment levels. Stronger upstream energy values and strong buying momentum pushed prices higher in the region. CFR China propylene prices were estimated at USD 750-760/mt, remaining steady from the […]
Reliance Industries Chairman and Managing Director Mukesh Ambani on Sunday laid out five major commitments for Gujarat, including a plan to double the company’s investments in the state over the next five years. “In the last five years alone, we have invested over Rs 3.5 lakh crore. Today, I am pleased to announce that we […]
Last week, ethylene prices fell throughout Asia. An industry source in Asia told a Polymerduniya team member that “ample supply, weak demand, and elevated inventories drove ethylene prices lower across Asia.” CFR Northeast Asia ethylene prices were estimated at USD 725-735/mt, representing a USD (-15/mt) fall from the previous week. CFR South East Asia ethylene […]
As part of a restructuring during a recession in the industry, Saudi Arabia’s SABIC has agreed to sell its European petrochemical business and its Engineering Thermoplastics business in Europe and the Americas for a combined enterprise value of $950 MM. In early trading in Riyadh on Thursday, shares of the chemicals company plummeted as much […]
Despite a decline in upstream naphtha values, ethylene prices were steady in Asia on Monday. Prices rolled over as purchasing activity remained low in Asia. CFR South East Asia ethylene prices were assessed at USD 720-730/mt, unchanged from the levels assessed for Friday. CFR North East Asia ethylene prices were assessed at USD 740-750/mt, carrying […]
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