Grasim Industries Ltd had earlier announced about the execution of definitive agreement between the company and Lubrizol Manufacturing India (Lubrizol) for setting up a plant to manufacture and supply of 100,000 metric tonnes of Chlorinated Polyvinyl Chloride (CPVC) resin in India. The first phase of the plant was planned to commence production in the year 2022. However, the unprecedented global COVID outbreak and its consequences, such as supply chain disruptions, prevented project work from starting. Both the company and Lubrizol now reaffirm that the construction of the first phase of the world’s largest single-site state-of-the-art 100,000 metric tonne CPVC resin facility in Vilayat, Gujarat, will commence in later part of the year 2023. The project implementation plan is under finalisation, and we will share the further developments including commissioning timelines in due course. Register Now to Attend NextGen Chemicals & Petrochemicals Summit 2024, 11-12 July 2024, M...

Price trend According to the data monitored by toodudu, the price of PVC fell sharply within 7 days. The average domestic price of PVC on June 20 was 8,385 RMB/ton, and the average price on June 27 was 7,472.5 RMB/ton. The price fell by 10.88% within 7 days. Analysis review Recently, the domestic spot market of PVC continued to decline, and the futures price fell for 13 consecutive working days, suppressing the sentiment of the spot market. At present, the confidence in the PVC spot market is still insufficient. Downstream enterprises and traders have a strong wait-and-see mood, and they are cautious in purchasing goods, and their willingness to purchase is not strong. The PVC spot market is not good for shipments. As of the 27th, the price range of domestic PVC5 calcium carbide materials was mostly around 7,050-7,800 RMB/ton. Among them, the quotations in Inner Mongolia and Xinjiang were higher, around 7,700-7,800 RMB/ton. International crude oil, on June 27, international crude oi...