LDPE Prices Climb Despite Sluggish Demand Conditions
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The Indian polymer market reflects stable-to-moderate pricing for LDPE, with variations in the regional polymer prices. Asian markets are seeing increased demand for PE imports that directed affected end-of-year prices.
Key Highlights:
Pricing Trends: Indian LDPE products show varied pricing trends in different locations, with Chennai and Mundra showing competitive prices. Demand & Supply: Rising LDPE prices in Asia show a change in the PE import market, with increased negotiations and higher bids for year-end cargoes. Market News: Production adjustments, such as TPC’s resulted in EVA output reduction. Apart from this, planned PVC maintenance by Hanwha Chemicalis also expected to impact supply chains.
LDPE Price Update in India
In the Indian polymer market, various LDPE (Low-Density Polyethylene) products are available at competitive prices.
- In Chennai, BASELL's LDPE Films (Lupolen 2421 H - Prime) are priced at ₹1,10,000 per metric ton.
- In Mundra, several options are offered, including BASELL's LDPE 4 MFI Slip GP (2427K - Prime) at ₹1,07,000 per metric ton, SASOL's LDPE 2 MFI Non-Slip (LFI2119 - Prime) at ₹1,08,000 per metric ton, and BIPC's LDPE 0.75 MFI Non-Slip (LH0075 - Prime) at ₹1,09,000 per metric ton.
- SASOL's Heavy Duty Films (LFI2130 - Prime) are available in Bhiwandi for ₹1,13,000 per metric ton, while SABIC's LDPE Lamination (7019EC - Prime) is priced at ₹1,28,000 per metric ton in Mundra.
Polymer Market Demand and Supply Trends
- Low density polyethylene prices witnessed a rise in the Asian region. PE import market negotiations picked up in the week, with participants prompted to raise their bids slightly for November-December cargoes. Meanwhile, most overseas sellers are likely to commence the sale of November-loading cargoes by late October.
Latest Polymer News on Prices and Production
- The Polyolefin Company (TPC) has extended its indefinite Ethylene Vinyl Acetate (EVA) output reduction at its plant located in Ayer Merbau, Jurong Island, Singapore.
- Naphtha prices were assessed stable at US$670 per MT CFR Japan basis.
- Hanwha Chemical Corp is planning to shut its Polyvinyl Chloride (PVC) units for scheduled maintenance work from October 19 until November 2, 2024. The units are located in South Korea.
- Brent crude oil prices traded lower at USD 74.45 per barrel.
Expert Insights on Polymer Market Trends
- There has been a rise in LDPE quotations compared to previous months. However, there was no corresponding upswing in market activity, which has largely been muted. Meanwhile, buying sentiment in the region was reportedly hovering in the steady to soft range.
Daily Market Report
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