PE Resin Prices Ease Amid Ample Supply and Weak Demand
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LLDPE prices remain steady at Rs.86.50/kg, Ex-Mundra/Bhiwandi, while LDPE holds at Rs.116/kg, Ex-Mundra/Bhiwandi. HDPE PE100 Natural is priced at Rs.91.50/kg, Ex-Mundra/Bhiwandi, with HDPE PE100 Black slightly higher at Rs.92/kg. HDPE HM continues at Rs.91/kg, Ex-Mundra/Bhiwandi, alongside HD Blow Molding, also priced at Rs.91/kg, Ex-Mundra/Bhiwandi. Prices across these polymer categories remain unchanged, reflecting stability in the market. Buying slowed in the spot resin market last week for polyethylene (PE).
Polymer Price
- PP Raffia: (±0) Rs.92.50/kg, Ex-Godown
- PP Film: (±0) Rs.100/kg, Ex-Godown
- PPCP: (±0) Rs.98.25/kg, Ex-Godown
- PP Lamination: (±0) Rs.104/kg, Ex-Godown
- LLDPE: (±0) Rs.86.50/kg, Ex-Mundra/Bhiwandi
- LDPE: (±0) Rs.116/kg, Ex-Mundra/Bhiwandi
- HDPE PE100 Natural: (±0) Rs.91.50/kg, Ex-Mundra/Bhiwandi
- HDPE PE100 Black: (±0) Rs. 92/kg, Ex-Mundra/Bhiwandi
- HDPE HM: (±0) Rs.91/kg, Ex-Mundra/Bhiwandi
- HD Blow Molding: (±0) Rs.91/kg, Ex-Mundra/Bhiwandi
- Low K (P700/TH700/B57): Rs.85.5/kg, Ex-Nhava Sheva/Mundra
- LG LS100H: Rs.75.75/kg, Ex-Mundra/Bhiwandi
Polymer Demand and Supply
- Buying slowed in the spot resin market last week for polyethylene (PE). Resin production rates in the Gulf Coast were slightly reduced as a precaution, though the plastics industry largely avoided major disruption.
- The peak of hurricane season, which led many to stockpile material in advance, has passed without significant issues so far. While the storm season is not yet over, there's been a collective sigh of relief as another major weather event was avoided.
- Commodity resins for PE dropped by half to a full cent, reflecting growing supplies and tepid demand. Polypropylene (PP) resins also declined by 1–2 cents, as reduced monomer costs provided some relief.
Polymer News
- Xinjiang Tianye plans to shut down its No.3 MEG Plant for maintenance in Shihezi, Xinjiang, China.
- Sinopec has lowered its domestic benzene prices by CNY 100/MT, now assessed at CNY 8,200/MT.
- Naphtha prices are lower at US$ 630/MT on a CFR Japan basis.
- Brent crude oil traded lower at USD 71.41/bbl.
Expert Opinion
- Overall availability remains healthy, though certain select grades remain somewhat tight. Export demand continues to be strong, but competitive pricing from the Middle East and Asia has put downward pressure on international prices, complicating offshore sales.
Daily Market Report
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