Stable PVC Prices Amid Weak Demand and Global Supply Disruptions
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Polymer prices showed minor adjustments this week, with PP Raffia dropping slightly to ₹91/kg. PVC prices in Asia remained stable but lower due to weakened demand and uncertainty over anti-dumping duties on imports into India.
Key Takeaways:
- Polymer prices for key grades like PP Raffia, LDPE, and HDPE remained stable, with only slight decreases in some segments.
- PVC demand in China has weakened due to sluggish purchasing and uncertainties surrounding anti-dumping duties.
- International factors like oil price fluctuations and Middle East conflicts continue to impact polymer markets globally.
Polymer Price Trends: Key Movements in PP, LDPE, and HDPE
- PP Raffia (-1) Rs. 91/kg levels Ex Godown
- PP Film Rs. 100/kg levels Ex Godown
- PPCP Rs. 99/kg levels Ex Godown
- PP Lamination (-1) Rs. 101/kg levels Ex Godown
- LLDPE (-1) Rs. 86.5/kg Ex Mundra/Bhiwandi
- LDPE prices are around (±0) Rs. 116/kg Ex Mundra/Bhiwandi
- HDPE PE100 Natural (±0) Rs. 90/kg Ex Mundra/Bhiwandi
- HDPE PE100 Black (±0) Rs. 91/kg Ex Mundra/Bhiwandi
- HDPE HM (±0) Rs. 90/kg Ex Mundra/Bhiwandi
- HD Blow Molding (±0) Rs. 91/kg Ex Mundra/Bhiwandi
- Low K (P700) Rs. 80.50 Ex Nhava Sheva/Mundra
- Low K (B57) Rs. 85.00 Ex Nhava Sheva/Mundra
- LG LS100H Rs. 76.25 Ex Mundra/Bhiwandi
Polymer Demand and Supply Trends
- PVC prices remained unchanged in the Asian region this week. Prices were rolled over with most producers maintaining their offer prices in the same range as previous levels.
- Energy news, mounting concerns over supply disruptions due to persistent uncertainty surrounding the Middle Eastern conflict, and improved demand prospects in Asia (supported by China’s extended stimulus measures buoying market sentiments) have been pivotal in pushing international oil prices higher.
- PVC prices in China were stable this week amid declining PVC futures and a dampened purchase appetite. Replenishment momentum weakened as converters adopted a wait-and-watch approach. Meanwhile, export trade slackened further this week with buying interest for PVC cargoes originating from China slumping ahead of the upcoming anti-dumping duties on PVC imports into India, which are yet to receive official confirmation. Furthermore, producers in China opted to secure material from the spot market.
Polymer News: Impact of Global Oil Prices on Polymer Markets
- Naphtha prices assessed stable at US$ 690 per MT CFR Japan basis.
- Brent crude oil prices traded higher at USD/bbl 75.89.
- Pars Glycol has restarted its Monoethylene Glycol (MEG) unit. The unit is located in Iran.
- Styrene monomer prices assessed stable at US$ 1050 per MT FOB Korea basis.
- Ethylene prices assessed stable at US$ 840 per MT CFR NE Asia and US$ 955 per MT CFR SE Asia basis.
Explore more industry updates and Polymer news here!
Expert Opinion: Polymer Market Sentiments Globally
In Southeast Asia, most buyers held sufficient inventories. While some players pointed to material supplies from China, they refrained from engaging in spot negotiations to analyze wider market trends in the Asian region. Meanwhile, short-term market fundamentals remained depressed, with buying interest waning across Southeast Asia.
Daily Market Report
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