Asian Ethylene Prices Dip Amid Weak Demand
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LLDPE (±0) Rs. 86.5/kg Ex Mundra/Bhiwandi. LDPE prices are around (±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. Ethylene prices have dropped in Asia due to high supply and weak demand.
Polymer Price
- PP Raffia (±0) Rs. 92.75/kg levels Ex Godown
- PP Film (±0) Rs. 100/kg levels Ex Godown
- PPCP (±0) Rs. 98.75/kg levels Ex Godown
- PP Lamination (±0) Rs. 104/kg levels Ex Godown
- LLDPE (±0) Rs. 86.5/kg Ex Mundra/Bhiwandi
- LDPE prices are around (±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) Rs. 76.50 Ex Mundra/Bhiwandi
Polymer Demand and Supply
- Ethylene prices have dropped in the Asian region due to a combination of high supply and weak demand.
- The indicators for buying and selling in the Asian markets show that bids for October cargoes are lower compared to previous months, as the impact of shrinking downstream margins continues.
- The Southeast Asian market sentiment is also reported to be sluggish, particularly in the polyethylene markets, due to poor derivative margins.
Polymer News
- Sinopec Hunan Petrochemical has restarted its Propylene Oxide (PO) plant, located in Hunan Province, China.
- A Chinese court has declared a third refinery, Shandong Changyi Petrochemical (owned by the state oil and chemical group Sinochem), bankrupt. Earlier this week, two other refineries owned by Sinochem - Huaxing Petrochemical and Zhenghe Petrochemical—were also declared bankrupt. Together, these refineries have a combined crude oil processing capacity of 360,000 barrels per day.
- Fujian Refinery has shut down its Polypropylene (PP) Unit in mid-September 2024 for planned maintenance work, expected to last until the end of December 2024. The unit is located in China.
- Thai Plast and Chemicals (TPC) has shut its No. 1 Vinyl Chloride Monomer (VCM) Line after a fire. The line is located in Map Ta Phut, Thailand.
- Shanghai Huayi Chemical is operating its Acetic Acid Plant at full capacity as of September 17, 2024. The plant is located in Wuwei, Anhui, China.
Expert Opinion
Owing to low demand and a lack of downstream support, several cargoes remain available. With weak demand and the typical winter slowdown approaching, some derivative factories are considering reducing their operating rates in the fourth quarter.
Daily Market Report
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