LDPE Market Faces Supply Oversupply, Weak Demand Amid Geopolitical Tensions
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Polymer markets show stability across most grades, with LDPE prices holding steady in Asia. Key market updates include price adjustments by Supreme Petrochemicals and Arya Sasol’s December offerings. The sector faces challenges from oversupply and subdued demand growth projections.
Key Takeaways
- Polymer Prices: Most prices remain stable, except for a minor dip in LG LS100H.
- Demand and Supply: LDPE sees contrasting global trends, with steady Asian prices and slight increases in the U.S., despite weak demand and falling crude oil prices.
- Market News: Changes in GPPS and stable ethylene, styrene, and propylene prices reflect mixed market signals.
- Expert Insight: The LDPE market faces challenges from oversupply, geopolitical uncertainties, and subdued demand expectations.
Updated Polymer Prices and Trends
- Low K (DG700) Rs 78.75 Ex Nhava Sheva/Mundra
- Low K (B57) Rs 83.50 Ex Nhava Sheva/Mundra
- LG LS100H Rs 76.50 Ex Mundra/Bhiwandi
- LLDPE (±0) Rs 86.5/kg Ex Mundra/Bhiwandi
- LDPE prices are around (±0) Rs 116/kg Ex Mundra/Bhiwandi
- HDPE PE100 natural (±0) Rs 88/kg Ex Mundra/Bhiwandi
- HDPE PE100 black (±0) Rs 90/kg Ex Mundra/Bhiwandi
- HDPE HM (±0) Rs 90/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
LDPE Demand-Supply Dynamics
- The supply and demand for Low-Density Polyethylene (LDPE) in November 2024 is quite interesting.
- Globally, LDPE prices have been dropping in the West but holding steady in Asia, mainly due to weak demand and a decline in crude oil prices.
- The International Energy Agency (IEA) has down-revised its oil demand growth forecast for 2024 and 2025, contributing to this trend.
- There's a divergence in the global LDPE market, with US prices edging up slightly, while Asian prices remain stable.
- However, concerns about future demand prospects persist, despite falling crude oil prices. Geopolitical tensions are also playing a role in this uncertainty.
Latest Updates from the Polymer Market
- Arya Sasol from Iran offered their LDPE Film at $1160, LD Lamination at $1280, and HM 5110 at $990 per MT CIF Nhava Sheva/Mundra for December shipment.
- Supreme Petrochemicals reduced GPPS prices by Rs 1000/MT while rolling over HIPS prices, effective 18th November 2024.
- Brent Crude Oil Prices traded higher at USD 71.40 per barrel.
- Styrene Monomer Prices were assessed stable at $1010 per MT FOB Korea.
- Ethylene Prices were assessed stable at $870 per MT CFR NE Asia and $945 per MT CFR SE Asia.
- Propylene Prices were assessed stable at $850 per MT CFR China.
Expert Opinion on Challenges in the LDPE Market
- Overall, the LDPE market is experiencing a mix of challenges, including weak demand, oversupply, and geopolitical tensions, which are affecting prices and supply chains.
Daily Market Report
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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.
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