LLDPE Spot Prices Weaken Amid Sluggish Demand and Supply Constraints

Polymer Price

• PP Raffia (-0.75) Rs.93.75/kg levels Ex Godown
• PP film (±0) Rs.100.50/kg levels Ex Godown
• PPCP (±0) Rs.100.25/kg levels Ex Godown
• PP Lamination (±0) Rs.105/kg levels Ex Godown
• LLDPE (-0.5) Rs.87.5/kg Ex Mundra/Bhiwandi
• LDPE prices are around (±0) Rs.116/kg Ex Mundra/Bhiwandi
• HDPE PE100 natural (±0) Rs.92/kg Ex Mundra/Bhiwandi
• HDPE PE100 black (±0) Rs.92.5/kg Ex Mundra/Bhiwandi
• HDPE HM (-1) Rs.92/kg Ex Mundra/Bhiwandi
• HD Blow Molding (±0) Rs.91/kg Ex Mundra/Bhiwandi
• Low K (P700/TH700) (+0) Rs.85.25 Ex Nhava Sheva/Mundra
• LG LS100H (±0) Rs.77.00 Ex Mundra/Bhiwandi

Polymer Demand and Supply

• LLDPE spot prices plummeted in the European region. The European LLDPE market experienced sluggish trading activity due to weak purchasing interest following the post-summer holiday period.
• Demand for LDPE grades remained low over the past week, as most buyers had completed their purchases before September, anticipating price increases.

Polymer News

• OQ is operating its HDPE and LLDPE lines at reduced rates. The lines are located in Sohar, Oman.
• Formosa Chemicals and Fibre Corp (FCFC) plans to shut its No.1 Styrene Monomer (SM) line for maintenance from October until November 2024. The line is located in Mailiao, Taiwan.
• S-Oil Corp will shut its Group I Base Oils unit on 19th September 2024. The unit is located in Onsan, South Korea.
• Supreme Petrochemical has reduced GPPS and HIPS grades prices by Rs.2000/MT, effective 16th September 2024.
• LyondellBasell plans to shut its cracker for maintenance work on 15th September 2024. The cracker is located in Wesseling, Germany.

Expert Opinion

The impact of weak demand fundamentals was offset by domestic supply constraints, particularly for certain LLDPE grades. Spot prices remained stable to slightly weaker, reflecting a slowdown in buyer inquiries.