India PVC Markets Prepares for Price Hikes Amid Weak Buyer Activity
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Low K (P700) prices are at Rs.83.75/kg and Low K (B57) at Rs.87.75/kg, both Ex Nhava Sheva/Mundra, while LG LS100H is priced at Rs.76.75/kg Ex Mundra/Bhiwandi. PVC prices saw an increase in October due to improved market sentiment in both Asia and the US, signaling a potential rise in demand.
Polymer Price
- PP Raffia (-0.50) Rs.92.50/kg levels Ex Godown
- PP Film (±0) Rs.101/kg levels Ex Godown
- PPCP (±0) Rs.99.50/kg levels Ex Godown
- PP Lamination (-1) Rs.104/kg levels Ex Godown
- LLDPE (±0) Rs.87.5/kg Ex Mundra/Bhiwandi
- LDPE prices are around (±0) 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.83.75 Ex Nhava Sheva/Mundra
- Low K (B57) Rs.87.75 Ex Nhava Sheva/Mundra
- LG LS100H Rs.76.75 Ex Mundra/Bhiwandi
Polymer Demand and Supply
- PVC prices rose in October due to improved market sentiment in Asia and the US, indicating a potential increase in demand.
- The Asian melamine market experienced downward pressure due to persistently bearish demand from key consumers.
- India's petrochemical demand is expected to grow by 7% in FY 2024-25, driven by strong consumption growth.
Polymer News
- Braskem has restarted its HDPE/LLDPE swing plant after planned maintenance work. The plant is located in Santo Andre, Brazil.
- Xinjiang Tianye has shut its MEG plant for planned maintenance work. The plant is located in Shihezi, Xinjiang, China.
- Braskem has restarted its Low-Density Polyethylene (LDPE) plant on 2nd October 2024, which was shut on 17th September 2024 for planned maintenance. The plant is located in Cubatao, Brazil.
- JPFL (Jindal) Films Pvt Ltd reduced BOPP (TT) Prices by Rs.8,000/MT and (NTT) Prices by Rs.10,000/MT (Delta additional in lower micron) w.e.f. 8th October 2024.
Expert Opinion
- In India, the purchase pulse in polymer market was weak, with most buyers holding their buying decisions. Import offers were limited, and buyers were seen opting to secure their requirements from local sources. Domestic polymer producers are anticipated to hike prices in the coming days.
Daily Market Report
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Asian Polyethylene Markets Face Supply Disruptions Amid Rising Freight Costs
LLDPE (±0) Rs 87.5/kg Ex Mundra/Bhiwandi, LDPE prices are around (±0) 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-density polyethylene (LDPE) prices rose in Southeast Asia and South Asia while remaining flat in China.
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Steady Production and High Inventory Weigh on PVC Market Recovery
Low K (P700) Rs 83.75 Ex Nhava Sheva/Mundra. Low K (B57) Rs 87.75 Ex Nhava Sheva/Mundra. LG LS100H Rs 77 Ex Mundra/Bhiwandi. The PVC market is currently facing a supply-demand imbalance in the Asian subcontinent. In China, production rates have increased, with the overall operating rate of PVC production enterprises rising by 0.78% month-on-month and 1.99% year-on-year to 79.32%.
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