Global Best Chemical & Petrochemicals Data Base, Chemical Prices

If we look at the current situation of coronavirus crisis, India has been a country of both loss and gains as compared to hardly hit United States, China and Europe. India has been quite successful in preventing the spread of the pandemic from reaching uncontrollable Stage III using social distancing and early lockdown of the states as its weapons. Country has been unitedly coming up with awareness programs and tracking contacts towards quarantining positive suspects and containing the contagious spread of this virus. Moreover, the country has been lending a helping hand to other nations through its advanced medical supplies and drugs (especially hydroxychloroquine). With lesser deaths and flattening infection curve as compared to other countries, the country is hopeful to win over the situation sooner than other major economies and this offers the country a plethora of opportunities amid financial distress. Strong governance and competitive advantage are likely to keep the country...

Chemical manufacturing companies are continuously coming up with concerned initiatives to assist against Coronavirus which is submitting to extreme highs with hopes of abatement. With rising number of cases, the demand for essential chemical feedstock required in the healthcare industry is showing an incredible surge, compelling the indulged companies to scale up the supply. Stressing this issue, WHO has also asked chemical companies to ramp up the production of personal protective equipment material to serve the skyrocketing demand from pharmaceutical and healthcare industries. Visit more info:  https://www.chemanalyst.com/NewsAndDeals/NewsHome Taking this step forward, Exxon Mobile, one of the largest oil producing giants in the global market has announced increment in the production of raw materials to produce essential necessities such as gowns, masks and hand sanitizers required in medical and healthcare sectors to look after Covid-19 patients. Addressing the con...

Oil prices dived on Monday overpowering the gains made after major oil producers agreed for output cuts, pressured by concerns that the cuts will be too little to come out of the oversupply situation as the coronavirus pandemic incurs unprecedented slump in global crude demand. This deal was signed after four days of intense negotiations as the OPEC+ group of oil producers, comprising the OPEC countries, Russia and other countries, agreed to curtail their outputs by 9.7 million(bpd) in May and June. Brent crude futures slipped by 1.7%, at $30.96 a barrel by 08:10 GMT after opening at $33.99, however, US West Texas Intermediate (WTI) crude futures fell by 0.5%, to $22.64 but remained oscillating between positive and negative values throughout the day. Visit more info:  https://www.chemanalyst.com/NewsAndDeals/NewsHome Analyst View on OPEC+ Deal Analysts believe that the deal signed to introduce production cuts is ...

The magnitude of demand destruction prevailing due to Coronavirus is beyond all threshold values anticipated by any economy. This global pandemic has caused devastating slowdown in diverse industrial sectors with no ray of hope for recovery in the coming months. The struggle to survive the outbreak is becoming intense with every passing day on increasing number of cases and death tolls. With affected countries eyeing on supplies of drugs and equipments to combat the virus, Hydroxychloroquine (HCQ) drug has become a major potential necessity as it is reported to be serving well for the treatment of the disease. Hydroxychloroquine is a drug typically used for treating malaria and other immunity syndromes like lupus and rheumatoid arthritis. Visit more info:  https://www.chemanalyst.com/NewsAndDeals/NewsDetails/pharma-stocks-skyrocket-over-rising-demand-for-hydroxychloroquine-1245 The demand for HCQ has been intensified since the day Trump, president of U.S, released a s...

Prices of Asia’s naphtha sank to 18-years low in the month of March as evaporating demand, hammered by the crash in crude has hard hit the feedstock market. The scenario turned more unfavorable for the Asian naphtha market after several Asian economies declared force majeure due to the lockdown measures taken to contain the spread of novel coronavirus that has created a havoc across the globe. Halt in economic and industrial activities has curtailed the gasoline and jet fuel demand that has exacerbated the refiners to introduce huge production cuts. Indian refiners had to revise their export and import tenders after the government announced nationwide lockdown till mid of the April month. This has prompted several Indian refiners such as ONGC Petro additions Ltd and Hindustan Petroleum Corp. Ltd to cut their crude throughputs while others had to withdraw their tenders. The lockdown has made the state-owned refiner, Bharat Petroleum Corp Ltd (BPCL) postpone its month-long mai...

IPA Pricing Analysis Despite soaring demand and rise in international prices, the prices of IPA in India declined marginally after March 5 as an outcome of restrictions imposed by the government to prevail the availability of sanitizers at an affordable price. IPA has turned out to be the most preferred chemical commodity among its other alternatives due to its superior properties. Although the domestic prices currently lie between INR 69-72 per kg, IPA prices are anticipated to climb to INR 95-100 per Kg taking into consideration the surging demand in the domestic market. Moreover, with disruption in supply chain, profitability of the domestic manufacturers as the sole provider of the product is anticipated to witness a significant rise. Visit more info:  https://www.chemanalyst.com/NewsAndDeals/NewsHome •      Dow starts sanitizer production in Germany In order to fight against rising coronavirus cases in Germany, Dow has started a ha...

Polymer producers around the world are forced to curtail their production activities as the combined blow of Coronavirus and crude oil crash has hard hit the sector. Prices of Polyethylene and Polypropylene in the international markets have followed a downtrend as feedstock ethene, ethane and propylene witnessed downward pressure due to sudden slump in crude oil. The oil price war initiated by Saudi Arabia has brought a huge downturn in the oil industry which is anticipated to impact almost all the economy driving sectors of the world. When China is resuming factory operations, the unprecedented campaigns launched by the governments in rest of the countries to prevent the spread of the contagious virus have almost put a halt on the economic activities. Asian refiners are curtailing production sensing muted demand from the downstream polymer industry. Demand Outlook Demand for polymers being used in food packaging, healthcare products and sanitizers is high as consumpt...