Steady Production and High Inventory Weigh on PVC Market Recovery
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Low K (P700) Rs 83.75 Ex Nhava Sheva/Mundra. Low K (B57) Rs 87.75 Ex Nhava Sheva/Mundra. LG LS100H Rs 77 Ex Mundra/Bhiwandi. The PVC market is currently facing a supply-demand imbalance in the Asian subcontinent. In China, production rates have increased, with the overall operating rate of PVC production enterprises rising by 0.78% month-on-month and 1.99% year-on-year to 79.32%.
Polymer Price
- PP Raffia (±0) Rs 93/kg levels Ex Godown.
- PP Film (±0) Rs 101/kg levels Ex Godown.
- PPCP (±0) Rs 99.50/kg levels Ex Godown.
- PP Lamination (±0) Rs 105/kg levels Ex Godown.
- LLDPE (±0) Rs 87.5/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 83.75 Ex Nhava Sheva/Mundra.
- Low K (B57) Rs 87.75 Ex Nhava Sheva/Mundra.
- LG LS100H Rs 77 Ex Mundra/Bhiwandi.
Polymer Demand and Supply
- The PVC market is currently facing a supply-demand imbalance in the Asian subcontinent. In China, production rates have increased, with the overall operating rate of PVC production enterprises rising by 0.78% month-on-month and 1.99% year-on-year to 79.32%.
- Specifically, the carbide method saw a 0.19% increase month-on-month, while the ethylene method grew by 2.45%. Despite higher production, inventory levels remain high, with the domestic social inventory at 492,000 tons as of September 19th, a 15.11% year-on-year increase.
- Also, downstream procurement remains weak, as domestic product enterprises are focused on essential purchases without significant improvement, even as the peak season (Jinjiu) progresses.[
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Polymer News
- Formosa Petrochemical Corp (FPCC) has restarted its No.1 Cracker after maintenance work. The cracker is located in Mailiao, Taiwan.
- PVC prices in Europe closed stable at €880/MT FD NWE basis.
- LLDPE Film prices closed stable at €1130/MT FD NWE basis.
- Yesterday, Brent crude oil prices closed higher at $78.05 USD/bbl level.
Expert Opinion
Prices were assessed flat on account of a steady purchase pulse in the Asian region. The market's overall transaction performance is lackluster, and despite a rebound in prices in late September, the supply-demand contradiction continues to persist.
Daily Market Report
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India PVC Markets Prepares for Price Hikes Amid Weak Buyer Activity
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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Asian Polyethylene Markets Face Supply Disruptions Amid Rising Freight Costs
LLDPE (±0) Rs 87.5/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-density polyethylene (LDPE) prices rose in Southeast Asia and South Asia while remaining flat in China.
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