Chemicals Updates

GS Lotte Chemical heard offering in Indian market / Bearish macroeconomic outlook, monsoon season dampen demand

Jul 30, 2025

Asian phenol and acetone prices stable to weaker week over week July 29. Market participants cited weak demand and competition from recent capacity additions. In CFR Southeast Asia acetone markets, offers were heard to slide week over week in the range of $680-$690/mt CFR Southeast Asia. Tradable indications were $10-$20/mt lower at approximately $670/mt. A market source said that competition for participants offering into the Indian market also increased, with a producer heard offering lower prices amid competition. "They need to compete with Lotte GS [Chemical]." The company recently started up its 350,000 mt/year phenol and 215,000 mt/year acetone plant in Yeosu, South Korea, in June and has been heard offering in both the Southeast Asian and Indian markets since. Amid a soft macroeconomic environment, the demand outlook for acetone...

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