Steady PP Prices Amid Weakened Demand and Global Supply Adjustments
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PP Raffia: (-0.50) Rs. 94/kg levels Ex Godown. PP Film: (±0) Rs. 100/kg levels Ex Godown. PP CP: (±0) Rs. 99.75/kg levels Ex Godown. PP Lamination: (±0) Rs. 104.25/kg levels Ex Godown.
Prices:
- PP Raffia: (-0.50) Rs. 94/kg levels Ex Godown.
- PP Film: (±0) Rs. 100/kg levels Ex Godown.
- PP CP: (±0) Rs. 99.75/kg levels Ex Godown.
- PP Lamination: (±0) Rs. 104.25/kg levels Ex Godown.
- LLDPE: (±0) Rs. 87/kg Ex Mundra/Bhiwandi.
- LDPE prices are around (±0) Rs. 118/kg Ex Mundra/Bhiwandi.
- HDPE PE100 Natural: (±0) Rs. 92/kg Ex Mundra/Bhiwandi.
- HDPE PE100 Black: (±0) Rs. 93/kg Ex Mundra/Bhiwandi.
- HDPE HM: (±0) Rs. 92.5/kg Ex Mundra/Bhiwandi.
- HD Blow Molding: (±0) Rs. 91/kg Ex Mundra/Bhiwandi.
- Low K (P700/TH700): (+1) Rs. 80 Ex Nhava Sheva/Mundra.
- LG LS100H: (+0.5) Rs. 75.50 Ex Mundra/Bhiwandi.
Demand and Supply
- In low-density polyethylene, demand in China has weakened across the region, with customers showing reluctance to make bulk purchases from international suppliers.
- Downstream market participants are burdened by inventory pressure and have slowed their purchases. However, China is expected to see a pickup in demand for polyethylene starting in September due to the agriculture season.
News
- Shenghong Refining and Chemical has reduced operating rates at its Monoethylene Glycol (MEG) Unit, located in Jiangsu, China.
- Idemitsu Kosan has shut its No.1 Styrene Monomer (SM) Unit for maintenance work, located in Tokuyama, Japan.
- Brent Crude Oil prices traded higher at USD 77.31/bbl.
- Naphtha prices assessed higher at USD 675 per MT CFR Japan basis.
- Ethylene prices assessed stable at USD 885 per MT CFR NE Asia and USD 985 per MT CFR SE Asia basis.
Expert's Opinion
- Buying was reported to be in the steady to soft range as market participants awaited fresh import offers. Market participants expect prices to soften further in September.
Daily Market Report
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