Regional Producers Hold Domestic PE Prices at Competitive Levels
Polymer Latest Prices
- Pp Raffia (±0) Rs93/kg levels Ex Godown
- Pp film(±0) Rs.100.50kg levels Ex Godown
- PPCP (±0) Rs.99.75/kg levels Ex Godown
- PP Lamination ((±0)105/kg levels Ex Godown
- LLDPE(-0.5) Rs.87/kg Ex Mundra/Bhiwandi
- LDPE prices are around(±0) Rs.116kg 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) (+0.25) Rs 85.50 Ex Nhava Sheva/Mundra
- LG LS100H (-0.50) Rs 76.50 Ex Mundra/Bhiwandi
Polymers Supply and demand
LLDPE prices rolled over in Asia.
Global oil prices registered an upward trend with production levels at oil and gas facilities in the US Gulf Coast region yet to recover from the impact of Hurricane Francine. Meanwhile, China’s INE crude oil futures contract (SC) was closed on the occasion of the Mid-Autumn Festival holiday.
Although PE import market talks in China remained generally soft, some price movement was seen. Meanwhile, overseas sellers were impeded in their effort to generate bids from downstream buyers, despite holding prices at stable levels. Importers were largely unwilling to participate in October-November cargo discussions, given that Q4 demand prospects remain uncertain.
Polymers News
Formosa Plastics has maintained operating rates at its three Ethyl Vinyl Acetate (EVA) Plants at full rates in September, 2024. The Plant is located in Mailiao, Taiwan.
INEOS Styrolution experiences power trip at its Styrene Unit. The Unit is located in Bayport, Texas, USA.
US polyethylene (PE) market participants are keeping an eye on discussions about a possible port strike in the USA in early-October, which could affect East and Gulf Coast ports. This issue is already impacting price expectations, which they fear could close export channels for US producers and cut local production.
IOCL rolled over PP and PE Prices w.e.f. 19th September, 2024.
Expert Opinion
The regional producers continued to grapple with squeezed margins, they held domestic PE prices at competitive levels to avert the inflows of import cargoes. Meanwhile, a continued sluggishness in sales transactions drove them to lower their offers slightly.