PE Producers Offering Discounts to Boost Sales

LDPE

20 Sept 20241 Min ReadDaily Market Report

Polymer market is going through a low demand as most of the buyers are waiting for import offers from overseas suppliers. To attract more buyers and push sales, PE domestic producers are offering extended discounts on prices.

Polymer Prices

Pp Raffia (±0) Rs92.75/kg levels Ex Godown.
Pp film(±0) Rs.100 kg levels Ex Godown
PPCP (±0) Rs.98.75/kg levels Ex Godown.
PP Lamination (±0)104/kg levels Ex Godown.
LLDPE(-0.5) Rs.86.5/kg Ex Mundra/Bhiwandi.
LDPE prices are around(±0) Rs.116kg 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) (+0.0) Rs 85.50 Ex Nhava Sheva/Mundra
LG LS100H (-0.0) Rs 76.50 Ex Mundra/Bhiwandi

Polymer Supply and demand

In India, for PE domestic producers have extended discount offers on sales transactions to boost buying activity in an otherwise gloomy market environment. Furthermore, Indian polymer producers are likely to explore the option of selling their goods in export markets to alleviate the pressure arising from piled up inventories, as demand continues to be low in the domestic market.
Various scheme and discount announcements made by domestic producers led to the local conversion rate falling below the USD 900/mt levels.

Polymer News

PetroChina Dushanzi Petrochemical has shut its High Density Polyethylene (HDPE) unit on 18th September, 2024 for maintenance work. The Unit is located in Korla, China.
Indian Oil Corporation Ltd. (IOCL) has choosen Univation's UNIPOL™ PE Process Technology for its new world-scale polyethylene line. The line will be located at IOCL’s Paradip Petrochemical Complex site in Paradip, India which is expected to produce Polyethylene(PE) capacity of 650,000 tons/Year.
Customs announces new exchange rate for import valuation at Rs. 84.60/US$ (-0.30) and Rs. 82.90/US$ (-0.25) for export valuation w.e.f. 20th September, 2024.
APC from Saudi Arabia offered their PP Raffia at 970$ and PP non-woven at 1000$ CIF Nhava Sheva/Mundra for October shipment.
Brent Crude Oil Prices traded higher at USD/bbl 74.75.

Expert Opinion

The polymer market sentiment remained in the steady to soft range. While most of the buyers awaited fresh import offers from overseas suppliers, some producers were heard to have been offering material at competitive price levels.