PVC Market Faces Supply-Demand Imbalance Amid Rising Prices and Strong Asian Buying Momentum
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India's annual PVC demand is approximately 4 million tons, while domestic production capacity is only 1.5 million tons, resulting in a supply-demand mismatch. This disparity is expected to widen as consumption increases.
Price
- PP Raffia (±0): Rs 94.50/kg, Ex Godown.
- PP Film (±0): Rs 100/kg, Ex Godown.
- PP CP (±0): Rs 99.75/kg, Ex Godown.
- PP Lamination (±0): Rs 104.25/kg, Ex Godown.
- LLDPE (±0): Rs 87/kg, Ex Mundra/Bhiwandi.
- LDPE (±0): Rs 118/kg, Ex Mundra/Bhiwandi.
- HDPE PE100 Natural (±0): Rs 92/kg, Ex Mundra/Bhiwandi.
- HDPE PE100 Black (±0): Rs 93/kg, Ex Mundra/Bhiwandi.
- HDPE HM (±0): Rs 92.5/kg, Ex Mundra/Bhiwandi.
- HD Blow Molding (±0): Rs 91/kg, Ex Mundra/Bhiwandi.
- Low K (P700/TH700) (+1): Rs 81.25, Ex Nhava Sheva/Mundra.
- LG LS100H (+1): Rs 77.25, Ex Mundra/Bhiwandi
Demand and Supply
- India's annual PVC demand is approximately 4 million tons, while domestic production capacity is only 1.5 million tons, resulting in a supply-demand mismatch. This disparity is expected to widen as consumption increases.
- To address this, the Adani Group is planning to tap into the sector by commissioning the first phase of a USD 4 billion PVC project by December 2026, marking its entry into the petrochemical industry.
News
- GPPS Haiwan 525 from China: Offered at $1,300 per MT CFR Nhava Sheva/Mundra for September shipment.
- Hyundai Chemical: Has restarted its Ethylene Vinyl Acetate (EVA) plant, which was shut down on 1st July 2024. The plant is located in Daesan, South Korea.
- Saudi Yanbu Petrochemical Company (Yanpet): Has shut its No.1 Monoethylene Glycol (MEG) plant for maintenance. The plant is located in Yanbu, Saudi Arabia.
- Brent Crude Oil Prices: Traded higher at USD 77.08 per barrel.
Expert's Opinion
- The market anticipates a fall in volume towards September. However, prices have increased due to strong buying momentum in the Asian region.
Daily Market Report
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