PET Gains Momentum, Pressures HDPE and PVC Markets
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Polymer prices remained largely stable, with slight fluctuations in select grades like HDPE PE100 Natural (-₹2/kg) and LLDPE (+₹0.5/kg). Demand for HDPE blow and PVC is declining as PET gains market share. Virgin polymer markets see routine orders but below expected levels. Global trends include price hikes and plant maintenance updates.
Key Highlights
- Stable Pricing: Minor changes were noted in LLDPE (+₹0.5/kg) and HDPE PE100 Natural (-₹2/kg); other grades remained stable.
- Demand Shifts: PET continues to replace HDPE blow and PVC in bottle applications, while LDPE, LLDPE, and HDPE film sectors see steady but subdued demand.
- Global Developments: Unigel increases polystyrene prices by 15% in Brazil; Guangxi Huayi halts MEG production for maintenance; Iranian petrochemical prices offered for January 2025 shipment.
- Expert View: The PVC spot market remains weak and volatile, with close monitoring of global developments recommended.
Polymer Prices: Key Updates Across Categories
- PP Raffia (±0) Rs. 88/kg levels Ex Godown
- PP Film (±0) Rs. 98.5/kg levels Ex Godown
- PPCP (±0) Rs. 95.75/kg levels Ex Godown
- PP Lamination (±0) Rs. 95/kg levels Ex Godown
- Low K (DG700) Rs. 79/kg Ex Nhava Sheva/Mundra
- Low K (B57) Rs. 82.75/kg Ex Nhava Sheva/Mundra
- LG LS100H Rs. 76.75/kg Ex Mundra/Bhiwandi
- LLDPE(+0.5) Rs. 86.5/kg Ex Mundra/Bhiwandi
- LDPE prices are around(±0) Rs.116/kg Ex Mundra/Bhiwandi
- HDPE PE100 Natural (-2) Rs. 84/kg Ex Mundra/Bhiwandi
- HDPE PE100 Black (±0) Rs. 88/kg Ex Mundra/Bhiwandi
- HDPE HM (±0) Rs. 88/kg Ex Mundra/Bhiwandi
- HD Blow Molding(± 0) Rs.91/kg Ex Mundra/Bhiwandi
Shifting Dynamics: Polymer Supply and Demand Trends
- Virgin HDPE blow and PVC in the bottle sector are gradually being replaced by PET, which has gained traction across various applications.
- This shift has led to a decline in demand for virgin HDPE blow and PVC in these markets.
- Meanwhile, the virgin LDPE, LLDPE, and HDPE film sectors are experiencing a steady flow of routine orders.
- However, demand levels remain below expectations, despite stable inventory conditions.
Global News: Developments Impacting Polymer Markets
- Unigel has announced a 15% Price increase on all Polystyrene (PS) grades, excluding local taxes in Brazil w.e.f. 2nd January, 2025.
- Guangxi Huayi has shut its Monoethylene Glycol (MEG) Unit for maintenance work. The Unit is located in Qinzhou, Guangxi, China.
- Ilam Petrochemicals from Iran offered weekly offer for its HM 7000F at US$ 925/- Per MT (FCA terms) for Turkey, CIS, Afghanistan, Pakistan, Iraq and East Europe for January 2025 shipment.
- Fuhaichuang has reduced operating rates at its PTA Plant. The Plant is located in Gulei, China.
Expert Opinion: Outlook for PVC Spot Market
It is expected that the PVC spot market will continue to experience weak and volatile conditions in the near term, with close monitoring of any significant news developments.
Daily Market Report
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Limited PE Imports in India Despite Supply Boost
Polymer prices remain stable with minor fluctuations in specific grades. Domestic PE supplies are expected to increase as key Indian producers resume operations. Import demand stays limited amid uncertainty and inventory losses. International polymer production restarts and a higher exchange rate for import valuation add to market dynamics.
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LLDPE Market Faces Supply Pressure Amid Weak Demand
LLDPE prices in January 2025 show upward trends due to tight supply pressures, with 2 MFI Non-Slip priced at Rs. 89190/MT. However, downstream demand remains weak. Key industry developments include maintenance shutdowns in China and Saudi Aramco's propane price cuts. Experts predict continued challenges due to subdued demand and tight cash flows.
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