North American Polypropylene Market Surges Amid Tight Supply and Rising Costs
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FPolymer_4_304c6bfdc2.png&w=1920&q=100)
In India, PP Raffia (±0) is priced at Rs 94/kg Ex Godown, PP Film (±0) at Rs 100.50/kg Ex Godown, PPCP (±0) at Rs 100.25/kg Ex Godown, PP Lamination (±0) at Rs 105/kg Ex Godown. The North American polypropylene market experienced a notable surge in pricing, driven by supply and demand dynamics, global freight rate fluctuations, and rising feedstock costs.
Polymer Price
- PP Raffia (±0) Rs 94/kg Ex Godown.
- PP Film (±0) Rs 100.50/kg Ex Godown.
- PPCP (±0) Rs 100.25/kg Ex Godown.
- PP Lamination (±0) Rs 105/kg Ex Godown.
- LLDPE (±0) Rs 88.5/kg Ex Mundra/Bhiwandi.
- LDPE prices are around (±0) Rs 118/kg Ex Mundra/Bhiwandi.
- HDPE PE100 Natural (+1) Rs 92/kg Ex Mundra/Bhiwandi.
- HDPE PE100 Black (-0.5) Rs 92.5/kg Ex Mundra/Bhiwandi.
- HDPE HM (±0) Rs 93/kg Ex Mundra/Bhiwandi.
- HD Blow Molding (±0) Rs 91/kg Ex Mundra/Bhiwandi.
- Low K (P700/TH700) (+0.5) Rs 82.50/kg Ex Nhava Sheva/Mundra.
- LG LS100H (+0.5) Rs 76.00/kg Ex Mundra/Bhiwandi.
Polymer Demand and Supply
- The North American polypropylene market experienced a notable surge in pricing, driven by supply and demand dynamics, global freight rate fluctuations, and rising feedstock costs.
- Unplanned plant shutdowns among major manufacturers exacerbated supply constraints, while a 1.5% increase in feedstock propylene prices elevated production costs, contributing to the bullish market sentiment.
- Tight supply was compounded by a significant hike in global freight rates, particularly from Asia to North America, which saw increases upwards of 40%, leading to higher import costs and reinforcing upward pricing pressure.
Polymer News
- Shell has declared Force Majeure (FM) on the supplies of Ethylene Glycol (EG) from its plant due to the recent strikes at Canada National Railway (CN). The plant is located in Scotford, Alberta, Canada.
- Chevron Phillips Chemical (CP Chem) experienced a process upset at its cracker located in Cedar Bayou, Texas, USA.
- Markor Meiou Chemical shut its 1,4-Butanediol (BDO) plant on 25th August 2024. The plant is located in Xinjiang, China.
- Trinseo has increased its September prices for Styron & Styron X-Tech GPPS grades, Styron, Styron A-Tech, Styron C-Tech & Styron X-Tech HIPS grades by €15/MT, Magnum ABS Resins prices by €15/MT, and Tyril SAN Resins prices by €15/MT in Europe.
- Naphtha prices were assessed lower at US$ 650/MT CFR Japan basis.
Expert Opinion
It is expected that robust demand from downstream industries, such as automobiles and construction, combined with increased interest rates impacting consumer demand, will keep the market stable overall, with a moderate level of demand.
Daily Market Report
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FPolymer_2_a7d6721e5b.png&w=3840&q=75)
Polymer Market Update: Oversupply Pushes Prices Down Amid Weak Demand
India's polymer market is facing oversupply due to increased domestic production, with major players like RIL ramping up capacities. Coupled with stable or declining demand and supply chain uncertainties, prices of key polymers have dropped. Globally, stable ethylene prices and economic changes, such as Mexico's interest rate cut, continue to influence the market.
Read Story
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FPolymer_6_d2c14e4ff6.png&w=3840&q=75)
Sluggish Polymer Demand Persists as China's Chemical Market Shapes Global Trends
The polymer market remains subdued with minimal price changes and declining demand for LDPE and LLDPE grades, particularly in electrical pipe applications. Crude oil price gains and propylene price increases in Asia signal potential market shifts.
Read Story
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FPPHP_Films_Ready_Material_10d55911b7.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FPVCK_67_Compounded_Ready_Material_1e8a2459cc.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FHDPEPE_100_Ready_Material_e3a92491ae.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252Flldpe1_5d71e3813a.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FPET_81_84_Ready_Material_9021c2cdf4.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd3dhalnpawfxbg.cloudfront.net%252Fproduction%252Fnexizo%252Fnexizo.ai%252F_next%252Fassets%252Fbg-png-msite.png&w=3840&q=30)
%2Fhttps%253A%252F%252Fd3dhalnpawfxbg.cloudfront.net%252Fproduction%252Fnexizo%252Fnexizo.ai%252F_next%252Fassets%252Fved.png&w=128&q=75)