Polyethylene Spot Deals Decline Amid Weak Demand
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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 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. PE saw a reduction in spot deal settlements in the region during the week.
Polymer Price
- PP Raffia (±0) Rs 93.75/kg levels Ex Godown
- PP film (±0) Rs 100.50/kg levels Ex Godown
- PPCP (-0.50) Rs 99.75/kg levels Ex Godown
- PP Lamination (±0) Rs 105/kg levels Ex Godown
- 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 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) Rs 85.25 Ex Nhava Sheva/Mundra
- LG LS100H (+0) Rs 77.00 Ex Mundra/Bhiwandi
Polymer Demand and Supply
- PE saw a reduction in spot deal settlements in the region during the week. Spot discussions were largely minimal, with most deals for September shipments already finalized last week.
- Meanwhile, a few Middle East-origin PE offer announcements made this week were mostly in the same range as the previous week. Regional converters are worried about weak demand.
- Current PP price levels are not considered elevated as there has been no significant increase in downstream finished goods demand. This is, potentially keeping converters away from boosting their PP consumption.
Polymer News
- Ineos has restarted its PTA plant located in Merak, Indonesia.
- Jinling Huntsman has restarted its Methyl Tertiary Butyl Ether (MTBE) Plant, which was shut in H1 August 2024. The plant is located in Nanjing, China.
- OMV has been operating its Cracker at reduced rates since week 33 due to upstream refinery issues. The Cracker is located in Schwechat, Austria.
- Arya Sasol from Iran offered their LDPE Film at $1,145, LD Lamination at $1,320, and HM 5110 at $970 per MT CIF Nhava Sheva/Mundra for October/November shipment.
Expert Opinion
Most buyers remained focused on making need-based restocking purchases, anticipating uncertainty in pricing movements in September. Trading activities in PE in China are likely to slow down next week, ahead of the mid-autumn festival holiday from mid-September.
Daily Market Report
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