Polyethylene Market Faces Pricing Pressures Amid Competitive Export Offers and Production Adjustments
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Polymer prices saw marginal decreases in PP grades, while PE prices remained stable despite global competition and softening freight rates. Brazil's anti-dumping investigation on US and Canada PE imports and restarts at key facilities like Chevron Phillips are influencing global supply. Market stability hinges on improving demand and balancing production.
Key Takeaways:
- Price Trends: Stable polymer prices for most grades, with marginal reductions in PP Raffia (-₹0.50), PPCP (-₹1), and PP Lamination (-₹0.25). LDPE remains at ₹116/kg and HDPE at ₹88-91/kg.
- Demand & Supply: Lower export PE prices due to softer freight costs and competitive offers, especially from China.
- News Highlights: Brazil probes anti-dumping claims on PE imports; Chevron Phillips and Celanese restart key plants, potentially stabilizing supply.
Polymer Price: Latest Polymer Prices in the Domestic Market
- Low K (DG700) Rs 78.75 Ex Nhava Sheva/Mundra
- Low K (B57) Rs 83.50 Ex Nhava Sheva/Mundra
- LG LS100H Rs 76 Ex Mundra/Bhiwandi
- LLDPE(±0) Rs.86.5/kg Ex Mundra/Bhiwandi.
- LDPE prices are around(±0) Rs.116kg Ex Mundra/Bhiwandi.
- HDPE PE100 natural (±0) Rs.88/kg Ex Mundra/Bhiwandi.
- HDPE PE100 black (±0) Rs.90/kg Ex Mundra/Bhiwandi.
- HDPE HM (±0) Rs.90/kg Ex Mundra/Bhiwandi.
- HD Blow Molding(±0) Rs.91/kg Ex Mundra/Bhiwandi
- PP Raffia (-0.50)Rs90.50/kg levels Ex Godown.
- PP film (±0) Rs.100 kg levels Ex Godown
- PPCP (-1) Rs.98/kg levels Ex Godown.
- PP Lamination(-0.25) 100.75 /kg levels Ex Godown.
Polymer Supply and Demand Trends: PE and PP Outlook
- The major mover of the week was low-density PE, both film and injection grades, followed by high-density PE for blow molding and injection, and finally linear-low-density PE for film and injection.
- Some producers continued to lower export PE prices to remain competitive with offers from other regions, particularly from China, as freight softened further.
- On the contract front, increases have been pushed into November. October saw a trend closer to a three-cent decrease, despite producers' efforts to prevent official price drops.
- Market conditions could shift if Atlantic/Caribbean weather disturbances affect resin production.
Polymer News: Global Developments Impacting Polymer Markets
- Brazil's government has initiated an anti-dumping investigation into polyethylene (PE) imports from the United States and Canada. The decision, announced by Gecex on November 13, follows accusations by Braskem of unfairly low-priced exports.
- Celanese has restarted its Etac/butac plant on Jurong Island, Singapore.
- Henan Kaixiang has shut its BDO plant in China.
- Chevron Phillips Chemical is restarting its Sweeny Cracker in Texas, USA.
- Brent crude oil prices traded higher at USD 72.18 per barrel.
Expert Opinion: Navigating Polymer Market Challenges
- The overall polymer market is experiencing increased pricing pressure, which may persist until demand conditions improve or the market rebalances through production adjustments.
Daily Market Report
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India PVC Markets Prepares for Price Hikes Amid Weak Buyer Activity
Low K (P700) prices are at Rs.83.75/kg and Low K (B57) at Rs.87.75/kg, both Ex Nhava Sheva/Mundra, while LG LS100H is priced at Rs.76.75/kg Ex Mundra/Bhiwandi. PVC prices saw an increase in October due to improved market sentiment in both Asia and the US, signaling a potential rise in demand.
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Asian Polyethylene Markets Face Supply Disruptions Amid Rising Freight Costs
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 90/kg Ex Mundra/Bhiwandi, HDPE PE100 black (±0) Rs 91/kg Ex Mundra/Bhiwandi, HDPE HM (±0) Rs 90/kg Ex Mundra/Bhiwandi, HD Blow Molding (±0) Rs 91/kg Ex Mundra/Bhiwandi. Low-density polyethylene (LDPE) prices rose in Southeast Asia and South Asia while remaining flat in China.
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