European PVC Prices Poised for September Surge
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FPolymer_1_78b0af3fdb.png&w=1920&q=100)
In the domestic market, Low K (P700/TH700): Rs 81.25/kg Ex Nhava Sheva/Mundra (+1). LG LS100H: Rs 77.25/kg Ex Mundra/Bhiwandi (+1). PVC prices in the European market are expected to rise due to the anticipated surge in upstream crude oil prices and increasing Ethylene costs.
Price
- PP Raffia: Rs 94.50/kg Ex Godown (±0)
- PP Film: Rs 100/kg Ex Godown (±0)
- PP CP: Rs 99.75/kg Ex Godown (±0)
- PP Lamination: Rs 104.25/kg Ex Godown (±0)
- LLDPE: Rs 87/kg Ex Mundra/Bhiwandi (±0)
- LDPE: Rs 120/kg Ex Mundra/Bhiwandi (±0)
- HDPE PE100 Natural: Rs 92.5/kg Ex Mundra/Bhiwandi (±0)
- HDPE PE100 Black: Rs 93.5/kg Ex Mundra/Bhiwandi (±0)
- HDPE HM: Rs 92/kg Ex Mundra/Bhiwandi (±0)
- HD Blow Molding: Rs 94/kg Ex Mundra/Bhiwandi (±0)
- Low K (P700/TH700): Rs 81.25/kg Ex Nhava Sheva/Mundra (+1)
- LG LS100H: Rs 77.25/kg Ex Mundra/Bhiwandi (+1)
Demand and Supply
- PVC prices in the European market are expected to rise due to the anticipated surge in upstream crude oil prices and increasing Ethylene costs.
- Geopolitical tensions may also lead to reduced production rates in the coming weeks.
- Shifting demand patterns, potential supply constraints, and rising feedstock costs resulting from regional production issues have influenced the outlook for the coming months.
- Market participants expect larger price hikes to be more feasible in September 2024 as the market progresses through the summer.
News
- Dongguan Juzhengyuan has shut its No.2 Polypropylene (PP) Unit for planned maintenance work for approximately 20 days. The unit is located in Dongguan, Guangdong Province, China.
- OPAL announced an upper cap waiver in PE AMSP for monthly and annual volume for August 2024.
- Jiangsu Sierbang (Sailboat) Petrochemical has restarted its Acrylonitrile (ACN) Plant after maintenance work. The plant is located in Lianyungang, Jiangsu, China.
- Sanfame has shut its PET Bottle Chip Unit for planned maintenance work. The unit is located in China.
- Henan Longyu Coal Chemical has shut its Methanol Plant on August 15, 2024, for annual maintenance work. The plant is located in Shangqiu, Henan, China.
Expert's Opinion
- It is expected that a combination of shifting demand patterns, potential supply constraints, and rising feedstock costs due to regional production issues will influence the market outlook for the coming months.
- Market participants anticipate that larger price hikes may be more feasible in September 2024 as the market advances through the summer.
Daily Market Report
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FPolymer_2_a7d6721e5b.png&w=3840&q=75)
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.
Read Story
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FPolymer_6_d2c14e4ff6.png&w=3840&q=75)
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.
Read Story
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FPVCK_67_Compounded_Ready_Material_1e8a2459cc.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FHDPEPE_100_Ready_Material_e3a92491ae.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FPPHP_Films_Ready_Material_10d55911b7.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252Flldpe1_5d71e3813a.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FPET_81_84_Ready_Material_9021c2cdf4.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd3dhalnpawfxbg.cloudfront.net%252Fproduction%252Fnexizo%252Fnexizo.ai%252F_next%252Fassets%252Fbg-png-msite.png&w=3840&q=30)
%2Fhttps%253A%252F%252Fd3dhalnpawfxbg.cloudfront.net%252Fproduction%252Fnexizo%252Fnexizo.ai%252F_next%252Fassets%252Fved.png&w=128&q=75)