Global LDPE Market Declines Amid Weak Demand and Oversupply Pressures
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In Chennai, BASELL LDPE Films (Lupolen 2421 H - Prime) is priced at ₹1,08,000/MT. Meanwhile, in Mundra, BASELL LDPE 4 MFI Slip GP (2427K - Prime) is available at ₹1,05,000/MT, and SASOL LDPE 2 MFI Non-Slip (LFI2119 - Prime) is priced at ₹1,06,000/MT.
LDPE Prices
- In Chennai, BASELL LDPE Films (Lupolen 2421 H - Prime) is priced at ₹1,08,000/MT. Meanwhile, in Mundra, BASELL LDPE 4 MFI Slip GP (2427K - Prime) is available at ₹1,05,000/MT, and SASOL LDPE 2 MFI Non-Slip (LFI2119 - Prime) is priced at ₹1,06,000/MT.
- For SASOL LDPE Heavy Duty Films (LFI2130 - Prime) in Bhiwandi, the price stands at ₹1,13,000/MT. Additionally, BIPC LDPE 0.75 MFI Non-Slip (LH0075 - Prime) in Mundra is offered at ₹1,08,000/MT. Lastly, SABIC LDPE Lamination (7019EC - Prime) in Mundra is priced at ₹1,27,000/MT.
LLDPE Demand and Supply
- Subdued demand from key downstream sectors such as construction, packaging, and agriculture.
- Year-end buying slowed in Europe, with converters maintaining minimal inventories ahead of December holiday shutdowns.
- Weak downstream demand in China, impacted by geopolitical tensions and higher freight costs, further reducing market activity.
- Regional LDPE consumption in Asia has weakened, adding to downward price pressure.
- Surplus supplies from the Middle East and US lengthened the market, pressuring prices.
- Producers in Asia considered plant shutdowns or price reductions to address margin losses caused by oversupply
Polymer Market News
- Gulf Coast Growth Ventures has experienced an unplanned shutdown of its Olefins Unit in Portland, Texas, USA, due to technical issues.
- PetroChina Guangxi PC & RF targets the end of December 2024 for restarting its Polypropylene (PP) Unit following maintenance in Guangxi, China.
- Hengyi plans to commence operations of its new HDPE (450,000 TPA) and LLDPE (450,000 TPA) plants in Pulau Muara Besar, China, by late 2024 or early 2025.
- Formosa Chemicals and Fibre Corp (FCFC) has extended maintenance at its No.2 Styrene Monomer (SM) line in Mailiao, Taiwan, until mid-December 2024.
Expert Opinion
- It is expected that global LDPE supply will remain sufficient, while weak demand and year-end destocking efforts by producers and traders will further depress prices through December 2024.
Daily Market Report
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