HDPE Market Struggles with Low Demand, High Supply, and Maintenance Shutdowns
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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.
Polymer Price
- PP Raffia (-0.50) Rs. 92/kg levels Ex Godown.
- PP Film (-1) Rs. 100/kg levels Ex Godown.
- PPCP (-0.50) Rs. 99/kg levels Ex Godown.
- PP Lamination (-1) Rs. 102/kg levels Ex Godown.
- LLDPE (-1) Rs. 86.5/kg Ex Mundra/Bhiwandi.
- LDPE prices remain steady (±0) at 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. 82.50 Ex Nhava Sheva/Mundra.
- Low K (B57) Rs. 86.50 Ex Nhava Sheva/Mundra.
- LG LS100H Rs. 77.25 Ex Mundra/Bhiwandi.
Polymer Demand and Supply
- HDPE spot prices have plunged in the European region, with trading activity thinning. Buyers are hesitant to procure materials, while sellers are keen on destocking inventory before the year ends. With demand from derivative industries weakening, many buyers are adopting an as-needed purchasing approach, expecting further price drops.
Polymer News
- Sinopec Zhongke Refining and Chemical shut down its Polypropylene (PP) plant on October 14, 2024, for planned maintenance, with operations resuming on October 18, 2024. The plant is located in Zhanjiang, Guangdong, China.
- Sinopec Hainan Petrochemical's PP unit is also under maintenance, scheduled to resume on October 20, 2024, in Yangpu, Hainan, China.
- A hydrogen sulfide (H2S) leak at Pemex's Deer Park Refinery in Texas, USA, on October 10, 2024, resulted in two fatalities and injured over 35 workers.
- Arya Sasol (Iran) offered LDPE Film at $1,185/MT, LD Lamination at $1,300/MT, and HM 5110 at $1,000/MT CIF Nhava Sheva/Mundra for November shipment.
Expert Opinion
Prices are expected to stay low in the near future due to weak demand and plenty of supply. In India, buyers are cautious and not making large purchases, opting to meet their needs through local suppliers. With fewer import offers available, domestic producers are likely to raise prices soon.
Daily Market Report
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