Chemical news · Three minutes a day
Sunday, October 11, 2026
Lead Story
One of Russia’s Richest Men Says Economy Has Yet to Hit BottomMMC Norilsk Nickel head Vladimir Potanin warns Russia's economy hasn't bottomed out, citing investment shortages worsened by new windfall taxes on miners aimed at funding the war effort.
President Trump promotes major steel, aluminum, and LNG megaprojects in key states to boost voter confidence, though financing and permitting hurdles cast doubt on their realization amidst high living costs.
A Dutch court dismissed shareholder demands for an inquiry into Philips' sleep apnea device recall, ruling there was no evidence executives knew of foam safety issues beforehand, following a $1.1 billion settlement.
Tsingshan Group facilitated Indonesia's first export of new energy vehicle batteries from Weda Bay Industrial Park. President Prabowo attended the ceremony, highlighting the significance of this milestone in Indonesia's nickel downstream industrial strategy.
Hurricane Isaias threatens key chemical facilities in Florida and Alabama, including Ascend and Olin, potentially disrupting nylon and caustic soda production. Impacts are expected to be modest as most capacity remains farther west.
The Reserve Bank of India opened a special dollar window for three state-owned oil marketing companies to ease currency pressure. The central bank also tightened forex derivative limits to stabilize the rupee amid record lows.
India's central bank launched a special dollar facility for state-run oil firms to stabilize the rupee and tightened forex derivative regulations. These measures aim to curb currency volatility impacting energy import costs.
Sika AG acquired Azpects Group, a UK manufacturer of polymeric paving joint compounds, to expand its landscaping portfolio and optimize UK production. Financial terms remain undisclosed.
The US Treasury relaxed sanctions on Russian diesel trade to ease supply shortages. President Trump announced an agreement for Russia to supply significant diesel volumes to the US and global markets to lower prices.
BASF has successfully started up the final phase of its $1 billion MDI expansion project in Geismar, Louisiana, boosting annual capacity to 600,000 metric tons. This positions BASF as the largest MDI producer in North America.
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