Asia's Polypropylene Market Faces Supply Pressure Amid Promising Growth Outlook

PP Raffia (±0) Rs. 92.50/kg levels Ex Godown, PP Film (±0) Rs. 101/kg levels Ex Godown, PPCP (±0) Rs. 99.50/kg levels Ex Godown, PP Lamination (±0) Rs. 104/kg levels Ex Godown.

Polymer Price

  • PP Raffia (±0) Rs. 92.50/kg levels Ex Godown
  • PP Film (±0) Rs. 101/kg levels Ex Godown
  • PPCP (±0) Rs. 99.50/kg levels Ex Godown
  • PP Lamination (±0) Rs. 104/kg levels Ex Godown
  • LLDPE (±0) Rs. 87.50/kg Ex Mundra/Bhiwandi
  • LDPE prices are around (±0) Rs. 116/kg Ex Mundra/Bhiwandi
  • HDPE PE100 natural (±0) Rs. 90/kg Ex Mundra/Bhiwandi
  • HDPE PE100 black (±0) Rs. 91/kg Ex Mundra/Bhiwandi
  • HDPE HM (±0) Rs. 90/kg Ex Mundra/Bhiwandi
  • HD Blow Molding (±0) Rs. 91/kg Ex Mundra/Bhiwandi
  • Low K (P700) Rs. 83.75 Ex Nhava Sheva/Mundra
  • Low K (B57) Rs. 87.75 Ex Nhava Sheva/Mundra
  • LG LS100H Rs. 77.50 Ex Mundra/Bhiwandi

Polymer Demand and Supply

  • The supply and demand for polypropylene (PP) in Asia is experiencing a significant shift. Currently, the market is facing pressure due to supply lengthening, which may outweigh demand improvement in Southeast Asia.
  • However, the region's PP market is projected to grow at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2030, driven by increasing demand from various end-use industries such as packaging, automotive, construction, and medical.

Polymer News

  • Sinopec Fujian has shut its PX plant for scheduled maintenance work. The plant is located in Gulei, Fujian, China.
  • Xinjiang Tianye is all set to shut its carbide-based PVC plant on October 9, 2024, for maintenance work until October 14, 2024. The plant is located in Xinjiang, China.
  • Far Eastern Union has shut its MEG plant for maintenance work. The plant is located in Yangzhou, Jiangsu, China.

Expert Opinion

  • The polymer purchase market showed weak trends, with most buyers staying on the sidelines. Furthermore, ther were limited import orders for polymers. Hence, buyers were seen opting to secure their requirements from local sources. Domestic producers are anticipated to hike prices of polymers in the coming days.
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