Converters Anticipate Market Shifts Amid Rising Freight Costs and Ethylene Price Declines
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PP Raffia (±0): Rs 94/kg Ex Godown. PPCP (±0): Rs 100.25/kg Ex Godown. LLDPE (±0): Rs 88.5/kg Ex Mundra/Bhiwandi. LDPE (±0): Rs 116/kg Ex Mundra/Bhiwandi. HDPE PE100 Natural (±0): Rs 92/kg Ex Mundra/Bhiwandi. LG LS100H (+0): Rs 77.00 Ex Mundra/Bhiwandi.
Polymer Price
- PP Raffia (±0): Rs 94/kg Ex Godown
- PP Film (±0): Rs 100.50/kg Ex Godown
- PPCP (±0): Rs 100.25/kg Ex Godown
- PP Lamination (±0): Rs 105/kg Ex Godown
- LLDPE (±0): Rs 88.5/kg Ex Mundra/Bhiwandi
- LDPE (±0): Rs 116/kg Ex Mundra/Bhiwandi
- HDPE PE100 Natural (±0): Rs 92/kg Ex Mundra/Bhiwandi
- HDPE PE100 Black (±0): Rs 92.5/kg Ex Mundra/Bhiwandi
- HDPE HM (±0): Rs 93/kg Ex Mundra/Bhiwandi
- HD Blow Molding (±0): Rs 91/kg Ex Mundra/Bhiwandi
- Low K (P700/TH700) (+0): Rs 85.00 Ex Nhava Sheva/Mundra
- LG LS100H (+0): Rs 77.00 Ex Mundra/Bhiwandi
Polymer Demand and Supply
- The global polymers market size is forecasted to reach around $1,233.6 billion by 2030, growing at a CAGR of 5.1% from 2024 to 2030.
- The growing retail sector and prospering e-commerce industry are boosting demand for packaging materials, influencing the significance of the polymers market.
- Sustainable and biodegradable polymers are witnessing increased demand due to a rising focus on eco-friendly materials. This trend aligns with global environmental concerns, pushing industries to seek polymers that minimize ecological impact.
- The emphasis on sustainable solutions reflects a commitment to reducing environmental harm and meeting consumer preferences for responsible, eco-conscious products.
Polymer News
- Sinopec-SK Wuhan Petrochemical has shut its No. 2 Polypropylene (PP) Unit for maintenance. The unit is located in Wuhan, Hubei, China.
- Brent Crude Oil prices traded higher at USD 71.91 per barrel.
- Naphtha prices assessed higher at USD 645 per MT, CFR Japan basis.
- Styrene Monomer prices assessed stable at USD 1100 per MT, FOB Korea basis.
Expert Opinion
- It is expected that a few converters will continue to adopt a wait-and-watch approach while monitoring the market's response to the decline in upstream ethylene prices. Meanwhile, elevated freight costs from Asia and reduced material supplies from the US are anticipated to further decrease imports into Europe.
Daily Market Report
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Polymer Market Update: Oversupply Pushes Prices Down Amid Weak Demand
India's polymer market is facing oversupply due to increased domestic production, with major players like RIL ramping up capacities. Coupled with stable or declining demand and supply chain uncertainties, prices of key polymers have dropped. Globally, stable ethylene prices and economic changes, such as Mexico's interest rate cut, continue to influence the market.
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Sluggish Polymer Demand Persists as China's Chemical Market Shapes Global Trends
The polymer market remains subdued with minimal price changes and declining demand for LDPE and LLDPE grades, particularly in electrical pipe applications. Crude oil price gains and propylene price increases in Asia signal potential market shifts.
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