India's PVC Market Stays Firm Amid ADD Speculation
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The polymer market in India remains stable with varied pricing trends across segments. Key developments include steady PVC prices supported by anticipated anti-dumping duties and robust demand growth in the PVC pipes industry. Global supply disruptions, including shutdowns in methanol and LLDPE units, also impact regional markets.
Key Takeaways
- Polymer Price Stability: Prices for polymers like LLDPE, LDPE, and HDPE remain unchanged. PP variants, such as Raffia and Lamination, maintain competitive pricing.
- PVC Market Insights: Stable PVC prices are supported by potential ADD announcements. PVC pipe demand is forecasted to grow 10–12%, driven by infrastructure projects.
- Global Supply Disruptions: Methanol plant in Iran shut due to gas shortages. LLDPE units in South Korea shut down for maintenance.
- Outlook: India’s PVC market is expected to grow steadily with demand from key industries.:
Polymer Prices: Stability Across Key Variants
- Low K (DG700): ₹78.75/kg, Ex Nhava Sheva/Mundra
- Low K (B57): ₹83.50/kg, Ex Nhava Sheva/Mundra
- LG LS100H: ₹76.50/kg, Ex Mundra/Bhiwandi
- LLDPE: ₹86.50/kg (±0), Ex Mundra/Bhiwandi
- LDPE: ₹116/kg (±0), Ex Mundra/Bhiwandi
- HDPE PE100 Natural: ₹88/kg (±0), Ex Mundra/Bhiwandi
- HDPE PE100 Black: ₹90/kg (±0), Ex Mundra/Bhiwandi
- HDPE HM: ₹90/kg (±0), Ex Mundra/Bhiwandi
- HD Blow Molding: ₹91/kg (±0), Ex Mundra/Bhiwandi
- PP Raffia: ₹90/kg, Ex Godown
- PP Film: ₹99.50/kg (±0), Ex Godown
- PPCP: ₹98/kg, Ex Godown
- PP Lamination: ₹100/kg, Ex Godown
PVC Supply and Demand: Strong Growth Backed by Demand
- India's PVC market is stable to firm, driven by weak demand and sufficient supply. The potential announcement of anti-dumping duties (ADD) on PVC imports has supported price stability. Buyers across Asia are awaiting the ADD ruling.
- The PVC pipes industry is poised for 10–12% volume growth this fiscal year due to strong demand from irrigation, water supply, sanitation, and housing. Despite ongoing capacity expansions, PVC pipe makers' credit profiles remain stable.
Polymer News: Supply Disruptions Impacting Regional Dynamics
- Sinopec: Increased Propylene list prices in East China.
- Sabalan Petrochemical: Shut its Methanol plant in Asaluyeh, Iran, due to gas issues.
- LG Chem: Shut its LLDPE units in Yeosu, South Korea.
- LG Chem (Korea): Offered PVC at $830/MT, CIF Nhava Sheva/Chennai/Mundra port for December 2024 shipment, LC at sight.
Expert Opinion: Outlook for PVC and Polymer Market in India
- India's PVC market is expected to grow steadily, fueled by strong demand from end-user industries and capacity expansion by PVC pipe makers. The ADD ruling outcome and global trends will play a significant role in shaping prices and demand in the coming months.
Daily Market Report
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Stable Outlook for LDPE, LLDPE; PP Woven Demand Stagnates
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