PVC Price Hike, Supply Shifts, and Global Offers Update

CPVC

02 Sept 20242 Min ReadDaily Market Report

Low K (P700/TH700) (+0.5): ₹82.00 Ex Nhava Sheva/Mundra. LG LS100H (-0.25): ₹75.50 Ex Mundra/Bhiwandi. DCM Shriram increased PVC prices by ₹1500/MT with immediate effect. The current rate is ₹78,500/MT Ex Works Kota.

Price

LLDPE (-0.5): ₹86.5/kg Ex Mundra/Bhiwandi.
LDPE prices are around (±0): ₹118/kg Ex Mundra/Bhiwandi.
HDPE PE100 natural (±0): ₹92/kg Ex Mundra/Bhiwandi.
HDPE PE100 black (±0): ₹93/kg Ex Mundra/Bhiwandi.
HDPE HM (-0.5): ₹92/kg Ex Mundra/Bhiwandi.
HD Blow Molding (±0): ₹91/kg Ex Mundra/Bhiwandi.
LLDPE (+2.5):*₹88.5/kg Ex Mundra/Bhiwandi.
LDPE prices are around (±0): ₹118/kg Ex Mundra/Bhiwandi.
HDPE PE100 natural (±0): ₹91/kg Ex Mundra/Bhiwandi.
HDPE PE100 black (±0): ₹93/kg Ex Mundra/Bhiwandi.
HDPE HM (+1): ₹93/kg Ex Mundra/Bhiwandi.
HD Blow Molding (±0): ₹91/kg Ex Mundra/Bhiwandi.
Low K (P700/TH700) (+0.5): ₹82.00 Ex Nhava Sheva/Mundra.
LG LS100H (-0.25): ₹75.50 Ex Mundra/Bhiwandi

Demand and Supply

In India, spot negotiations for September shipments had slowed down as market players largely remained on the sidelines while awaiting clarity on the extension of the BIS certification mandate for PVC imports, which was scheduled to expire towards the end of August.
Sellers also refrained from announcing new offers in India. Spot negotiations are expected to pick up again following the Government of India’s announcement extending the BIS mandate until December 24, 2024.
In Bangladesh, PVC import discussions remain muted, with market participants staying on the sidelines amid lower offers from overseas producers.
Meanwhile, the country is experiencing a gradual easing of political tensions.

News

PetroChina Dalian Petrochemical is planning to permanently shut its Group I Base Oil Unit in October 2024. The unit is located in Dalian, Liaoning, China.
DCM Shriram increased PVC prices by ₹1500/MT with immediate effect. The current rate is ₹78,500/MT Ex Works Kota.
Xinjiang Guanghui has shut its MEG Plant for maintenance. The plant is located in Hami, Xinjiang, China.
MRPL reduced PP prices by ₹2000/MT and has withdrawn price protection effective September 1, 2024.
FCFC Ningbo has shut its PTA unit for maintenance. The unit is located in Ningbo, China.
Tasnee from Saudi Arabia has offered products for the KSA market: HDPE Blow Molding (B1258) at $1070/MT, HD Caps and Closures (IM 2050) at $1110/MT, HDPE Pipe (PE 100 Black) at $1180/MT, HDPE Pipe (NPP Black) at $1130/MT, LDPE Film (4025AS/1925AS) at $1220/MT, and LDPE Film (0725N) at $1260/MT on LC 90 days basis for September 2024. (USD/SAR Exchange rate = 3.75).
Sabic from Saudi Arabia has offered products for the KSA market: PP IM (575P) at $900/MT, PP Thermoforming (528K) at $965/MT, PP Random (QR6711K) at $1055/MT, PP Raffia Extrusion (500P) at $900/MT, HD IM (M200056/50) at $1150/MT, HD Blow (B4660) at $1160/MT, HD Blown Film (FJ00952) at $1100/MT, LD (HP0722NN/HP0823NN) at $1245/MT, LD (HP724NN) at $1245/MT, LLDPE Blown Film (218WJ/118WJ) at $1080/MT, LLDPE Inj. (M500026) at $1195/MT, HIPS (330) at $1500/MT, GPPS (125) at $1500/MT, PVC (67S) at $880/MT, and PET (BC211) at $1135/MT for September 2024. (USD/SAR Exchange rate = 3.75).

Expert Opinion

It is expected that buyers at polymer converters will seek opportunities to secure inventories at attractive prices. However, many remain skeptical about the durability of any increases and anticipate that prices will moderate in the final quarter of 2024.