Mixed Regional Trends in Polypropylene and Toluene Markets

PPHP

26 Oct 20242 Min ReadDaily Market Report

Polymer prices showed minor variations, with stable levels for HDPE and LDPE. Asian demand for toluene strengthened, though global PP demand remains mixed. Experts anticipate continued weak consumer demand, alongside ample supply from imports, leading to subdued market expectations in the coming months.

Key Takeaways:

Polymer Prices: Various polymer prices showed minor fluctuations. PP Raffia and Lamination slightly decreased, with stable pricing for HDPE and LDPE in key Indian markets.
Demand and Supply Trends: PP demand varies regionally; Asia shows stronger toluene prices, while U.S. propylene and Brazilian PP prices hold steady.
News Updates: Maintenance shutdowns for PTA, PP, PE, and VCM units in Asia may impact near-term supply.
Expert Insight: Weak consumer demand and ample import supply are weighing on the polymer market, with little improvement expected soon.

Current Polymer Prices and Trends

PP Raffia (-1)Rs91/kg levels Ex Godown
PP film Rs.100 kg levels Ex Godown
PPCP Rs.99/kg levels Ex Godown
PP Lamination(-1) 101 /kg levels Ex Godown
LLDPE(-1) Rs.86.5/kg Ex Mundra/Bhiwandi
LDPE prices are around(±0) Rs.116kg 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 K (P700) Rs 80.50 Ex Nhava Sheva/Mundra
Low K (B57) Rs 85.00 Ex Nhava Sheva/Mundra
LG LS100H Rs 76.25 Ex Mundra/Bhiwandi

Polymer Demand and Supply Dynamics

The supply and demand for Polypropylene (PP) in the last week of October have shown varying trends across different regions.
In asia Toluene prices have firmed up in Asia due to firmer upstream crude and gasoline values, coupled with improved regional demand trends.
In United States Propylene prices have witnessed a rollover, indicating a stable market.
In Brazil Polypropylene (PP) prices have remained flat.
In India Domestic prices of Polypropylene (PP) have been reported, but specific changes were not mentioned.

Polymer News

Siam Mitsui PTA (SMPC) is planning to shut its No.3 Purified Terephthalic Acid (PTA) Unit in end-October, 2024 for maintenance work. The Unit is located in Map Ta Phut, Thailand.
Long Son Petrochemical (LSP) is aiming to shut its downstream Polypropylene (PP) and Polyethylene (PE) Units in end-October, 2024 to improve margins. The Units are located in Long Son, Vietnam .
Tianjin LG Bohai Chemical intends to shut its Vinyl Chloride Monomer (VCM) Plant in end-October, 2024 for maintenance work. The Plant is located in Dagu, Tianjin, China.

Expert Opinion: Outlook on Polymer Demand

It is expected that consumer demand, which experienced a steep drop last year, will remain sluggish for the rest of this year with little chance of improvement. The European market is also facing a supply glut due to an abundance of import cargoes. Furthermore, demand from related industries that rely on PP is expected to continue weakening, and market participants remain doubtful about any significant recovery in end-user demand in the coming months.