LDPE Market Balances Tight Supply, Weak Demand
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Polymer prices in India showcased stability with minor variations across product categories. Supply-side factors, including maintenance activities and petrochemical adjustments, influenced market trends. The polyethylene (PE) segment saw price resilience supported by supply tightness despite demand fluctuations.
Key Highlights
- Polymer Prices: a. Low K (DG700): ₹80/kg; Low K (B57): ₹83.25/kg; LG LS100H: ₹76.25/kg. b. LLDPE: ₹86.5/kg; LDPE: ₹116/kg; HDPE PE100 Black: ₹89/kg. c. PP Raffia: ₹90/kg; PPCP: ₹98/kg.
- Supply & Demand: a. Tightened PE supply due to concentrated maintenance activities. b. Demand for agricultural films softened post-peak season.
- Market News: a. Chevron Phillips Chemical encountered issues at its ethylene unit in Texas. b. BP restarted its No. 3 Steam Cracker in Germany after maintenance. c. Sinopec-INOPS shut PE plants in China over profitability concerns.
- Expert Outlook: Cost-side pressures persist due to fluctuating crude oil prices. Positive domestic policies and market sentiment may stabilize pricing in the near term.
Polymer Price Updates: November 2024
- Low K (DG700): Rs. 80 Ex Nhava Sheva/Mundra
- Low K (B57): Rs. 83.25 Ex Nhava Sheva/Mundra
- LG LS100H: Rs. 76.25 Ex Mundra/Bhiwandi
- LLDPE (±0): Rs. 86.5/kg Ex Mundra/Bhiwandi
- LDPE (±0): Rs. 116/kg Ex Mundra/Bhiwandi
- HDPE PE100 natural (±0): Rs. 88/kg Ex Mundra/Bhiwandi
- HDPE PE100 black (±0): Rs. 89/kg Ex Mundra/Bhiwandi
- HDPE HM (±0): Rs. 89/kg Ex Mundra/Bhiwandi
- HD Blow Molding (±0): Rs. 91/kg Ex Mundra/Bhiwandi
- PP Raffia: Rs. 90/kg levels Ex Godown
- PP Film (±0): Rs. 99.50/kg levels Ex Godown
- PPCP: Rs. 98/kg levels Ex Godown
- PP Lamination: Rs. 100/kg levels Ex Godown
Polymer Market Dynamics: Supply Constraints and Demand Fluctuations
- The overall trend of PE is relatively strong, with linear products continuing to rise. High-voltage products experienced a significant decline at the beginning of the month but saw a recovery in prices thereafter.
- Low-voltage products recorded a slight increase during the same period. The initial decline in high-pressure product prices was attributed to the conversion of some EVA units to LDPE, leading to an anticipated rise in LDPE supply and a subsequent price drop.
- However, concentrated maintenance activities at enterprise facilities have tightened supply, supporting the market. Petrochemical companies raised prices, prompting traders to follow suit.
- Demand for agricultural film in November weakened after the peak season, while downstream buyers exhibited limited replenishment activity, resulting in average market transactions.
Polymer Industry News: Global Plant Operations and Maintenance
- Chevron Phillips Chemical (CP Chem) encountered production issues at its EU-1594 Ethylene Unit on November 26, 2024, during the restart of the unit located in Cedar Bayou, Texas, USA.
- Levima Advanced Materials Technology has restarted its Polypropylene (PP) Unit in Tengzhou, China.
- BP has restarted its No. 3 Steam Cracker, which was shut in September 2024 for planned maintenance. The unit is located in Gelsenkirchen, Germany.
- Sinopec and INEOS have shut their Polyethylene (PE) plants in Tianjin, China, on November 25, 2024, due to technical and profit issues.
Expert Opinion: Trends Shaping the Polymer Market
In the second half of the month, fluctuating crude oil prices contributed to a strong cost-side boost for the PE market. However, recent declines in prices have weakened cost support. Positive domestic policies and an overall improvement in market sentiment have provided support for the PE market. Looking forward, price movements will likely depend on crude oil trends, demand recovery, and any further developments in domestic policies or supply adjustments.
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
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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