Muted Demand and Uncertainty Drive Need-Based Restocking in Polymer Markets

Polymer Price

• PP Raffia (-0.75) Rs93/kg levels Ex Godown
• PP film (±0) Rs.100.50/kg levels Ex Godown
• PPCP (±0) Rs.99.75/kg levels Ex Godown
• PP Lamination (±0) Rs.105/kg levels Ex Godown
• 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.92/kg Ex Mundra/Bhiwandi
• HDPE PE100 black (±0) Rs.92.5/kg Ex Mundra/Bhiwandi
• HDPE HM (±0) Rs.92/kg Ex Mundra/Bhiwandi
• HD Blow Molding (±0) Rs.91/kg Ex Mundra/Bhiwandi
• Low K (P700/TH700) (+0.25) Rs.85.50 Ex Nhava Sheva/Mundra
• LG LS100H (±0) Rs.77.00 Ex Mundra/Bhiwandi

Polymer Demand and Supply

• Middle East-origin PE offer announcements made this week were mostly in the same range as the previous week. Regional converters continued to be concerned about dampened downstream demand.
• While current PP price levels are not considered elevated, there has been no significant pickup in downstream finished goods demand sentiments, potentially keeping converters from boosting their PP consumption.

Polymer News

• Yulin Chemical has resumed normal operations at its MEG plant located in China.
• ZPC has restarted its PX line after maintenance work. The plant is located in Zhoushan, China.
• Xinjiang Xinye Energy Chemical has delayed the restart of its 1,4-butanediol (BDO) Plant located in Urumqi, Xinjiang, China.
• Kyodo Sakusan shut its Acetic Acid Unit on 9th September 2024. The unit is located in Aboshi, Japan.
• The Government of India (GOI) has announced an extension of the deadline for the implementation of the quality certifications mandated by the Bureau of Indian Standards (BIS) on Polycarbonate (PC) until 12th March 2025. Kindly refer to the circular for detailed information.

Expert Opinion

Most buyers remained focused on need-based restocking purchases, anticipating uncertainty in pricing movements in September.