Polypropylene Prices Decline Amid Weaker Demand and Rising Oil Concerns
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PP Raffia (±0) Rs 94/kg levels Ex Godown. PP Film (±0) Rs 100.50/kg levels Ex Godown. PPCP (±0) Rs 100.25/kg levels Ex Godown. PP Lamination (±0) Rs 105/kg levels Ex Godown.
Polypropylene prices have declined in some parts of Asia. The ongoing weakening of demand for oil products continues to cause concern for global markets, leading to a drop in prices to their lowest levels in recent times.
Polymer Price
- PP Raffia (±0) Rs 94/kg levels Ex Godown.
- PP Film (±0) Rs 100.50/kg levels Ex Godown.
- PPCP (±0) Rs 100.25/kg levels Ex Godown.
- PP Lamination (±0) Rs 105/kg levels Ex Godown.
- LLDPE (±0) Rs 88.5/kg Ex Mundra/Bhiwandi.
- LDPE prices have decreased (-2) to 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 93/kg Ex Mundra/Bhiwandi.
- HD Blow Molding (±0) Rs 91/kg Ex Mundra/Bhiwandi.
- Low K (P700/TH700) (+2.25) Rs 84.75/kg Ex Nhava Sheva/Mundra.
- LG LS100H (+50) Rs 76.50/kg Ex Mundra/Bhiwandi.
Polymer Demand and Supply
- Polypropylene prices have declined in some parts of Asia. The ongoing weakening of demand for oil products continues to cause concern for global markets, leading to a drop in prices to their lowest levels in recent times.
- This downside risk may increase with the likely resumption of oil production and exports from Libya, following a UN-brokered deal between rival political factions.
- However, demand remains moderately healthy, with buyers opting for low-priced purchases on an as-needed basis.
News
- Yangmei has restarted its MEG Unit after maintenance work. The unit is located in Shouyang, China.
- LCY Chemical is operating its Polypropylene (PP) Plant at 60% capacity in September 2024. The plant is located in Kaohsiung, Taiwan.
- Chimcomplex Borzesti shut down its Polyether Polyols Plant on 1st September 2024 for planned maintenance. The plant is located in Ramnicu Valcea, Romania.
- Dow Chemical has increased the operating rates at its Glycol Ethers Unit since 17th August 2024. The unit is located in Seadrift, Texas, USA.
Expert Opinion
- Market sentiment remained muted, with prices declining due to lower import offers from overseas suppliers. Additionally, the Government of India has extended the Bureau of Indian Standards (BIS) certification mandate for PP imports until 24th December 2024.
Daily Market Report
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