PVC Markets Stable Amid Anti-Dumping Duty
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FPolymer_1_78b0af3fdb.png&w=1920&q=100)
The polymer market shows steady activity with specific price adjustments in PVC and HDPE categories. Domestic PVC prices are increasing, driven by anti-dumping duties on imports. Meanwhile, international markets are stable, with moderate demand due to low purchasing sentiment.
Key Highlights:
- PVC Price Trends: Prices for PVC materials like DAGU S and MEXICHEM range from ₹73,000/MT to ₹79,750/MT, with domestic prices expected to rise further by ₹2-3/kg.
- Anti-Dumping Measures: Preliminary anti-dumping duties on imported PVC are impacting the market, with domestic procurement advised until final rates are announced.
- Market Adjustments: IOCL has reduced HDPE prices by ₹2,500–₹3,500/MT, while PP and LLDPE prices remain unchanged.
- Global Supply Updates: Nanjing Chengzhi Clean Energy restarted its BD Plant, while naphtha prices dropped to $635/MT CFR Japan basis.
PVC Price Outlook: Domestic and International Trends
- DAGU S PVC K67 (DG1000S) Ready Material in Chennai is priced at ₹74,500/MT
- MEXICHEM PVC K67 (225P) Ready Material in Mundra is priced at ₹73,000/MT
- OXYVINYL PVC K67 (P225) Ready Material in Bhiwandi is priced at ₹73,000/MT
- KANEKA PVC K67 (S1001) Ready Material in Bangalore is prices at ₹79,750/MT
- SHANDONG GAOXIN CPVC K57 (J500) in Mundra is priced at ₹1,36,000/MT
- SUN EIGHT CPVC K67 (XSJ700) in Mundra is priced at ₹1,36,000/MT
Impact of Anti-Dumping Duties on Polymer Markets
- International PVC markets are currently stable. The Indian government has announced preliminary findings for an anti-dumping duty on imported PVC, with rates ranging from $54 to $339 per metric ton.
- Given the potential for significant import costs, it's advisable to procure PVC from domestic suppliers until the final anti-dumping duty is determined.
- Domestic PVC prices have rebounded and are expected to increase by an additional ₹2-3 per kilogram in the coming weeks.
Polymer News: HDPE Price Revisions and Market Adjustments
- Nanjing Chengzhi Clean Energy has restarted its No.1 Butadiene (BD) Plant. The Plant is located in Nanjing, Jiangsu, China.
- IOCL reduced HDPE Prices by Rs. 2500/MT except for all Pipe grade prices which is reduced by Rs. 3500/MT while rolled over PP & LLDPE Prices w.e.f. 5th December 2024.
- OPEC+ is likely at its meeting on 5th December, 2024 i.e. Thursday to extend its latest round of oil output cuts until the end of the first quarter of 2025, to provide additional support for the oil market.
- Naphtha Prices assessed lower at US$ 635/- per MT CFR Japan basis.
Expert Opinion on Polymer Market Trends
- It is expected that the polymer market will continue to experience moderate demand, hindered by a lack of new orders due to low purchasing sentiment and minimal buying activities.
Daily Market Report
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FPolymer_2_a7d6721e5b.png&w=3840&q=75)
Polymer Market Update: Oversupply Pushes Prices Down Amid Weak Demand
India's polymer market is facing oversupply due to increased domestic production, with major players like RIL ramping up capacities. Coupled with stable or declining demand and supply chain uncertainties, prices of key polymers have dropped. Globally, stable ethylene prices and economic changes, such as Mexico's interest rate cut, continue to influence the market.
Read Story
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FPolymer_1_78b0af3fdb.png&w=3840&q=75)
PVC Market Faces Challenges Amid Fluctuating Demand
The polymer market continues to see steady price movements, with minor changes in LLDPE and HDPE grades. Meanwhile, the PVC industry faces challenges such as fluctuating raw material costs and shifting environmental policies, requiring collaborative efforts for resilience. Industry news highlights stable trends in toluene and naphtha, alongside key production updates and investments in biorefineries.
Read Story
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FCPVC_024ab9034c.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FPVCK_67_Compounded_Ready_Material_1e8a2459cc.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FHDPEPE_100_Ready_Material_e3a92491ae.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FPPHP_Films_Ready_Material_10d55911b7.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252Flldpe1_5d71e3813a.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd3dhalnpawfxbg.cloudfront.net%252Fproduction%252Fnexizo%252Fnexizo.ai%252F_next%252Fassets%252Fbg-png-msite.png&w=3840&q=30)
%2Fhttps%253A%252F%252Fd3dhalnpawfxbg.cloudfront.net%252Fproduction%252Fnexizo%252Fnexizo.ai%252F_next%252Fassets%252Fved.png&w=128&q=75)