India's Paste PVC Demand Rises 19%, EU Exports Challenge Pricing
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India’s paste PVC consumption increased by 19% in the first half of FY 2024 (April-September), driven by rising demand in manufacturing and processing applications. The surge in demand aligns with India’s status as the world’s fastest-growing economy, reflecting overall economic growth.
Polymer Price
- Low K (DG700) Rs 79.50 Ex Nhava Sheva/Mundra
- Low K (B57) Rs 83 Ex Nhava Sheva/Mundra
- LG LS100H Rs 76 Ex Mundra/Bhiwandi
- LLDPE(±0) Rs.86.5/kg Ex Mundra/Bhiwandi.
- LDPE prices are around(±0) Rs.116kg Ex Mundra/Bhiwandi.
- HDPE PE100 natural (±0) Rs.88/kg Ex Mundra/Bhiwandi.
- HDPE PE100 black (-1) Rs.89/kg Ex Mundra/Bhiwandi.
- HDPE HM (-1) Rs.89/kg Ex Mundra/Bhiwandi.
- HD Blow Molding(±0) Rs.91/kg Ex Mundra/Bhiwandi
- PP Raffia Rs90/kg levels Ex Godown.
- PP film (±0) Rs.99.50 kg levels Ex Godown
- PPCP Rs.98/kg levels Ex Godown.
- PP Lamination 100 /kg levels Ex Godown
Polymer Supply and demand
- India’s paste PVC consumption increased by 19% in the first half of FY 2024 (April-September), driven by rising demand in manufacturing and processing applications.
- The surge in demand aligns with India’s status as the world’s fastest-growing economy, reflecting overall economic growth.
- The European Union began exporting paste PVC to India at very low prices to fill the demand gap.
- While cheaper imports can fulfill market needs, they must be brought in at fair prices.
- Post-June 2024, EU exports of paste PVC to India have been at extremely low levels, undermining the effectiveness of anti-dumping duties imposed on other countries.
Polymer News
- Thai Plastic and Chemicals is operating its Polyvinyl Chloride (PVC) Plant at reduced rates in November, 2024 due to feedstock issues. The Plant is located in Map Ta Phut, Thailand.
- European Butadiene (BD) contract Price for December reduced by Euro 50/MT from its November settlement levels and assessed at Euro 985/MT, FD North West Europe levels.
- Inner Mongolia Baofeng is planning to delay the start up of its new LLDPE/HDPE Plant to Q1 2025. The Plant will be located in Inner Mongolia, China.
- Epigral, an Indian Company, is set to double the production capacity of its Chlorinated Polyvinyl Chloride (CPVC) Resin Unit at Dahej Complex in Western Gujarat, India. The expansion will add an additional 75,000 Tons/Year of CPVC Resin, bringing the total capacity to 150,000 Tons/Year. The investment cost of the expansion project is estimated at around Rs. 780 Crore.
- EQUATE has announced its December Monoethylene Glycol (MEG) Contract Prices at US$ 552/MT, CFR (Cost & Freight) India Main Ports.
Expert Opinion
There is a slowdown in demand elsewhere. This has resulted in large scale dumping of suspension PVC into India. Specifically, China continues to supply PVC at very low prices due to continued weakness in their property sector. While some recent stimulus measures have been announced in China to revise the demand in the property sector, these are yet to see any significant impact on the PVC demand.
Daily Market Report
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India PVC Markets Prepares for Price Hikes Amid Weak Buyer Activity
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.
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Asian Polyethylene Markets Face Supply Disruptions Amid Rising Freight Costs
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