Stable LLDPE Growth Amid Supply Dynamics and Raw Material Fluctuations
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Polymer prices remain relatively stable across categories, with minor changes in specific grades like Low K DG700 and B57. The LLDPE market continues to show steady growth driven by industrialization and e-commerce expansion, while developments in feedstock availability and production capacities are shaping market dynamics.
Key Takeaways
- Price Highlights: Slight increases observed in Low K DG700 and B57 grades.
- Demand & Supply Trends: The Asia-Pacific region is driving LLDPE demand through industrialization and urbanization.
- Recent Developments in Polymer Production: Epigral expands CPVC resin production in Gujarat, India, doubling capacity with a significant Rs. 780 Crore investment.
- Government Policy Impact: Anti-dumping duties on PET imports from Wankai New Material Company Limited have increased to $40.41/MT.
- Market Outlook: Stability is expected in December 2024, with consistent demand from the packaging industry.
Polymer Prices: Steady Trends Across Key Grades
- Low K (DG700) Rs 80 Ex Nhava Sheva/Mundra
- Low K (B57) Rs 83.25 Ex Nhava Sheva/Mundra
- LG LS100H Rs 76.25 Ex Mundra/Bhiwandi
- LLDPE (±0) Rs 86.5/kg Ex Mundra/Bhiwandi
- LDPE prices are around (±0) Rs 116/kg Ex Mundra/Bhiwandi
- HDPE PE100 natural (±0) Rs 88/kg Ex Mundra/Bhiwandi
- HDPE PE100 black (±0) Rs 89/kg Ex Mundra/Bhiwandi
- HDPE HM (±0) Rs 89/kg Ex Mundra/Bhiwandi
- HD Blow Molding (±0) Rs 91/kg Ex Mundra/Bhiwandi
- PP Raffia Rs 90/kg levels Ex Godown
- PP Film (±0) Rs 99.50/kg levels Ex Godown
- PPCP Rs 98/kg levels Ex Godown
- PP Lamination Rs 100/kg levels Ex Godown
Polymer Demand and Supply: Asia-Pacific Drives Growth in LLDPE Demand
- In the Asia Pacific region, the LLDPE market is expected to witness steady growth, driven by rapid industrialization and urbanization, particularly in emerging economies like China and India.
- The region's expanding population and thriving e-commerce landscape are also expected to propel the demand for LLDPE.
- The LLDPE market in December 2024 is expected to be influenced by the availability of feedstock ethylene and upstream naphtha. Any fluctuations in these raw materials may impact the production costs of LLDPE.
Government Policy Shifts: Impact on PET Import Duties
- Chevron Phillips Chemical (CP Chem) is in the process of restarting its EU-1594 Ethylene Unit following a brief planned outage. The plant is located in Cedar Bayou, Texas, USA.
- The Indian government has increased the anti-dumping duty on PET imported from Wankai New Material Company Limited to $40.41/MT.
- Inner Mongolia Baofeng is planning to delay the startup of its new LLDPE/HDPE plant to Q1 2025. The plant will be located in Inner Mongolia, China.
- Epigral, an Indian company, is set to double the production capacity of its Chlorinated Polyvinyl Chloride (CPVC) Resin Unit at the Dahej Complex in Western Gujarat, India.
- The expansion will add an additional 75,000 tons/year of CPVC resin, bringing the total capacity to 150,000 tons/year. The estimated investment cost for the expansion project is around Rs. 780 Crore.
Expert Opinion on LLDPE Market Stability for December 2024
Overall, the LLDPE market in December 2024 is expected to be stable, with steady demand from the packaging sector and sufficient supplies. However, any fluctuations in raw material prices or changes in global demand patterns may impact the market.
Daily Market Report
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Low K (P700) prices are at Rs.83.75/kg and Low K (B57) at Rs.87.75/kg, both Ex Nhava Sheva/Mundra, while LG LS100H is priced at Rs.76.75/kg Ex Mundra/Bhiwandi. PVC prices saw an increase in October due to improved market sentiment in both Asia and the US, signaling a potential rise in demand.
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