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IOCL Offers Rs. 2000/MT Incentive on 1350YG/EG Upliftments in January 2025
IOCL has introduced a special incentive scheme of Rs. 2000/MT for the upliftment of 1350YG/EG (P/NP) during January 2025. This scheme is applicable to all PP and Flexi customers with upliftments from PPMC, PDPMC, RSC, DOPW, and VSL. However, the incentive does not apply to DE quantities and contractual quantities.
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GNFC Raises Acetic Acid Prices on Tight Supply and Lunar New Year Disruptions
Acetic Acid prices surged to ‚Çπ40.50/kg as GNFC raised prices amid higher Methanol costs and robust downstream demand. Limited vessel availability and plant shutdowns are tightening supply, while growing demand from Acetyl product expansions drives bullish market sentiment. Importers and manufacturers brace for potential further increases, intensifying market volatility.
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Court adjourns Dangote Refinery suit on import licenses to January 30
Dangote Refinery seeks to halt oil import licenses issued to marketers, claiming violation of Petroleum Industry Act.
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Yulin Chemical Resumes MEG Production Line in China
Chinese firm, Yulin Chemical, restarts one of its Monoethylene Glycol (MEG) production lines in China, with an annual capacity of 400,000 tons.
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Non-oil export from Golestan province increases 47% in 9 months yr/yr
Iran's non-oil exports surged by 47% to $347.7 million in Golestan province during the first nine months of 2024, with polystyrene, cement, and dairy products being key exports.
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Mumbai-Ahmedabad Bullet Train: India’s FIRST undersea rail tunnel construction in progress
India's first undersea rail tunnel, spanning 7 km beneath Thane Creek, will connect Mumbai and Ahmedabad, reducing travel time to 2.5 hours.
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Goldmedal Electricals Unveils Premium Mobile Showroom Designed by Dilip Chhabria
Goldmedal Electricals has unveiled a lavish mobile showroom worth Rs. 18 crore, which showcases the company's premium products. It features an aerodynamic design, expandable sections, luxurious interiors, and over 10,000 LEDs. The showroom will tour India after the expo.
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Stainless Steel Prices Stable Amid Nickel Rebound, Demand Trends Upbeat
Stainless steel prices remain stable with a slight uptick in demand for 200 and 300 series. Nickel prices rebounded, closing at $15,963/mt, and have risen by $635/mt YTD. South Korea introduced a 21.62% anti-dumping duty on Chinese stainless steel plates, stabilizing its domestic market. Indian producers hiked 304-grade CR prices by Rs. 2,000/mt in response to global trends. Copper prices are supported by China's strong industrial output and GDP growth.
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Lubi Industries LLP Bags BPCL contract to Deliver 1400 Fast DC EV Chargers, Enhancing India's EV Network
Lubi Industries to set up 1,400 fast DC chargers across India for Bharat Petroleum, boosting EV charging infrastructure.
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DCM Shriram’s chemical income improves on lower energy costs, higher volume
DCM Shriram’s chemical revenue saw a notable improvement in fiscal Q3, which ended on December 31, driven by a combination of lower energy costs and increased volumes. The company reported a significant 21% year-on-year (YOY) increase in caustic soda volumes, contributing to the overall growth in its chemical segment.
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India to shift focus to railways from road transport in infrastructure push, say sources
India's upcoming railway budget to rise up to INR 3 trillion for modernization; road building allocation to increase marginally.
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BOPP Film Prices Drop in Early 2025 Amid Oversupply and Weak Demand
Polymer prices, particularly BOPP films, declined in January 2025 due to oversupply and weak demand. Industry incentives, plant shutdowns, and cautious market recovery highlight the current dynamics. A gradual stabilization is expected by Q1 2025 as restocking begins.
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JSW Energy Synchronises Unit 2 at Utkal Thermal Plant in Odisha
JSW has achieved a 3,858 MW operating thermal power capacity after synchronizing its Odisha plant's second unit, part of its plan to hit 20 GW by 2030 and accomplish net zero emissions by 2050.
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Lotte Chemical Titan Shuts NC1 Naphtha Cracker in Malaysia Amid Financial Strains
Lotte Chemical Titan temporarily shuts down its Naphtha Cracker NC1 Unit with a production capacity of 430,000 tons per year to mitigate financial losses.
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Primary TMT Demand Rising Across Regions; Price Hike Likely Soon
Primary TMT prices remain stable across major markets, ranging between Rs. 50,000 and Rs. 52,000/mt. Demand has grown significantly, hinting at a potential price rise in the coming days. Efforts to restrict Chinese steel imports may further impact domestic prices. Meanwhile, the Visakhapatnam Steel Plant Union calls for a permanent solution to its financial challenges.
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Sinopec Resumes Operations at Shanghai BD Plant
Sinopec Shanghai Petrochemical's Butadiene (BD) Plant in Shanghai, China, has resumed operations after scheduled maintenance. The plant has a production capacity of 53,000 tons per year.
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Gujarat CM Allocates Rs 2.20 Bn for Kalupur and Sarangpur ROBs
Gujarat CM has approved the allocation of Rs 2.2 billion for the Kalupur Railway Station Redevelopment Project Rs 520.83 million has been allocated for a new overbridge at the railway crossing LC-100-2E
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SC gas prices continue going up, experts brace for impacts of new presidency
Gas prices in South Carolina have climbed by 3.6 cents per gallon in the last week, reaching an average of $2.80 per gallon. The national average has also risen by 6.5 cents per gallon to $3.09.
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Maruti announces charging network expansion to woo EV customers
One of India's largest automakers, Maruti Suzuki plans to install fast charging points in India's top 100 cities and launch a battery rental service to encourage EV adoption.
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Oil prices hold steady as market awaits Trump announcements
Oil prices were steady Monday ahead of Trump's inauguration. Brent crude futures dropped 37 cents, or 0.46%, to USD 80.42 a barrel, while U.S. WTI crude futures were down 24 cents, or 0.31%, at USD 77.64.
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India's Oil Industry Faces Challenges Amid US Sanctions on Russian Crude and Rising Global Prices
Crude oil prices remain stable with slight fluctuations, influenced by global demand-supply dynamics. China’s high crude surplus and OPEC’s forecast for economic growth highlight potential price increases. India faces challenges in securing Russian oil due to sanctions, which could impact domestic prices. Strategic approaches may mitigate significant disruptions.
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Dharavi redevelopment: Construction work on a 6.4-acre land parcel in central Mumbai's Matunga West to commence
Dharavi Redevelopment project received CC for 6.4-acre railway land. The slum rehab project aims to house 0.7 million residents.
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Structure Market Update: Secondary Prices Decline; Vizag Steel Plant Revival Approved By Centre
Primary prices in the structure market have increased by Rs 500/mt this month for SAIL, JSPL, and RINL, while secondary market prices have declined upto Rs 300 in regions like Raipur, Durgapur, and Mandi. Supply challenges for Heavy Beams and Channels are being addressed with SAIL's rolling schedule. Secondary producers maintain adequate supply, but low demand is driving discounts.
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Crude oil gains on stricter US sanctions against Russian supply and seasonal demand
Oil prices rose last week due to supply concerns from US sanctions on Russian oil, OPEC+ output cuts, and strong seasonal demand.
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Supreme Petrochemicals Announces Price Hike for GPPS and HIPS
Supreme Petrochemicals has raised the prices of General Purpose Polystyrene (GPPS) by Rs. 1500/MT and High Impact Polystyrene (HIPS) by Rs. 1000/MT, effective from 20th January 2025.
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