Fire erupts at Indian Oil’s Gujarat refinery

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Türkiye PVC outlook for 2025: Will poor margins and unstable demand break the cycle?

While the PVC market spent much of 2024 grappling with price declines in Türkiye, it is preparing to close the year on relatively solid footing, supported by tightening supply. What lies ahead for the market in 2025 remains a subject of interest. On one hand, India's BIS process and the anti-dumping duties it plans to impose on most imported origins are poised to reshape global supply flows. On the other, Europe's import measures are equally set to have a significant impact...

Europe PP, PE outlook for 2025: Battle of margins amid supply surpluses and trade flow shifts

Polyolefin markets began 2024 with a transportation crisis driven by Red Sea turmoil, fueling steep price gains in Q1. Prices then trended downward in subsequent quarters, with brief rebounds unable to match Q1 levels. Global overcapacity and weak demand were key factors, as producers tried to adjust output to protect margins, but with little success...

Middle East PP, PE outlook for 2025: A double whammy of low demand and new capacity additions

Saudi Arabia, the UAE and East Med markets have all experienced much less volatility this year than they did last year, although PP and PE prices have been on a downward trajectory in the last quarter. Early expectations for January point to a potential shift in prices while geopolitics and capacity additions continue to cast a pall on the region for the rest of the year...

China, SE Asia PE outlook for 2025: Oversupply dilemma deepens with new capacity surge

As 2024 draws to a close, major PE markets across Asia continue to face significant challenges driven by weak demand, a sluggish global economy, and persistent oversupply. This year has been particularly harsh for petrochemical producers, who have endured shrinking margins despite scaling back run rates or extending plant shutdowns...

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