Solvay announced that it has agreed on final terms to sell its 50% stake in the RusVinyl joint venture to its joint venture partner Sibur. Upon completion, the divestment will represent another important milestone in the transformation of Solvay’s portfolio, and will mark the final step in the Company’s strategy to exit its cyclical global polyvinyl chloride (PVC) operations. The agreement is based on a purchase price for Solvay’s 50% stake of around €430 million. A capital loss of around €175 million will be recognized on completion mainly reflecting the crystallization of historic currency translation balances. The completion of the transaction is expected to take place towards the end of the first quarter 2023. Register Now to Attend NextGen Chemicals & Petrochemicals Summit 2024, 11-12 July 2024, Mumbai

We are hopeful to obtain financial closure for the Mundra Petrochemicals Limited (MPL) project in the next 6-month post which full-fledged procurement and construction activities at site will commence, said Spokesperson of Adani Group in respect to the clarification with reference to certain news report on Adani Groups’ Green PVC project.   We are committed to completing the project in an expeditious manner so as to meet the original timelines added Spokesperson of Adani Group The financial closure of the Green PVC project of Mundra Petrochemicals Limited is pending with the financial institutions and it is in their active consideration. Due to recent market developments, the management has decided to continue with the engineering design and other activities including financial closure in an accelerated mode. Pending the above, it has been decided to keep the major equipment procurement and site construction activities on hold. Adani Group is planning to commission a R...

On April 10, the benchmark price of PVC resin SG5 in toodudu was 6066.67 RMB/ton, which was -0.49% lower than that at the beginning of this month (6096.67 RMB/ton). toodudu PVC analysts believe that the spot price of PVC fell this week. At present, the PVC spot market demand is light. The current market sentiment is bearish, and the overall trading volume is weak. The downstream is more on the sidelines, and the actual order transactions are cautious. It is expected that the PVC market may continue to drop in the short term, so pay close attention to changes in the news. If you have any questions, please feel free to contact toodudu withtdd-global@toodudu.com.

According to data monitored by toodudu, the PVC spot market prices fluctuated and fell in December. On December 1st, the average price of PVC in China was 5,698 RMB/ton. On December 29th, the average price was 5,638 RMB/ton, and the price dropped by 1.05% during the month. The PVC spot market prices fluctuated and fell in December. In the first half of this month, the spot market fell first and then rose. Affected by the continuous weakening of initial futures, spot market prices have also fallen. The recovery of the futures market in the later period has driven the confidence of the spot market, and the PVC spot price has rebounded and risen. In the middle of the month, be cautious and observe. The confidence in the PVC spot market is average, and prices are mainly stable with slight fluctuations. In the latter half of the year, the spot market rose first and then fell. Affected by the fire incident in the cracking workshop of a company’s olefin plant in Zibo, Shandong, the fu...