Regional Producers Hold Domestic PE Prices at Competitive Levels

HDPE

19 Sept 20241 Min ReadDaily Market Report

Regional PE producers are going through a difficult time due to sluggish sales transactions and inflow of import cargoes. Read the complete report to check how it has affected the PE prices and for more polymer market updates.

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.