ABS Prices Face Continued Downward Pressure
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Despite some tightness in specific polyolefin grades and steady demand for recycled materials, market conditions suggest stability or further price reductions in the coming months. The positive sentiment that drove prices upward in August faded as September began.
Polymer Price
- PP Raffia (-0.25) Rs 92.50/kg Ex Godown
- PP Film (±0) Rs 100/kg Ex Godown
- PPCP (-0.50) Rs 98.25/kg Ex Godown
- PP Lamination (±0) Rs 104/kg Ex Godown
- LLDPE (±0) Rs 86.5/kg Ex Mundra/Bhiwandi
- LDPE (±0) Rs 116/kg Ex Mundra/Bhiwandi
- HDPE PE100 Natural (±0) Rs 91.5/kg Ex Mundra/Bhiwandi
- HDPE PE100 Black (±0) Rs 92/kg Ex Mundra/Bhiwandi
- HDPE HM (±0) Rs 91/kg Ex Mundra/Bhiwandi
- HD Blow Molding (±0) Rs 91/kg Ex Mundra/Bhiwandi
- Low K (P700/TH700) (+0.0) Rs 85.50 Ex Nhava Sheva/Mundra
- LG LS100H (-0.0) Rs 76.50 Ex Mundra/Bhiwandi
Polymer Demand and Supply
- Despite some tightness in specific polyolefin grades and steady demand for recycled materials, market conditions suggest stability or further price reductions in the coming months.
- The positive sentiment that drove prices upward in August faded as September began. Meanwhile, crude oil prices fell due to increasing concerns over global demand.
- This drop in crude oil prices passed through to naphtha, leading to reductions in September contract prices for ethylene and styrene monomer (SM). Only benzene recorded a small increase, which may support pricing for some engineering polymers.
Polymer News
- Xinjiang Zhongkun has restarted its MEG unit after maintenance. The unit is located in Xinjiang, China.
- Brent crude oil prices traded higher at USD 74.94/bbl.
- Naphtha prices assessed stable at US$ 665/MT CFR Japan.
- Ethylene prices assessed stable at US$ 845/MT CFR NE Asia and US$ 945/MT CFR SE Asia.
- Zeon Corp started maintenance at its styrene-butadiene-rubber (SBR) plant in Tokuyama, Japan.
Expert Opinion
The sentiment suggests that demand will remain weak, and supply will stay healthy. Based on this, the downward pressure on ABS prices is likely to continue through the remaining months of 2024.
Daily Market Report
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