US PP Market Faces Supply Constraints, Moderate Demand Amid Rising Propylene Costs
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FPolymer_1_78b0af3fdb.png&w=1920&q=100)
In the domestic market, PP Raffia (±0) Rs.94/kg levels Ex Godown, PP Film 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.
Price
- PP Raffia (±0) Rs.94/kg levels Ex Godown.
- PP Film 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 (-0.5) Rs.86/kg Ex Mundra/Bhiwandi.
- LDPE prices are around (±0) Rs.118/kg Ex Mundra/Bhiwandi.
- HDPE PE100 Natural (-1) Rs.91/kg Ex Mundra/Bhiwandi.
- HDPE PE100 Black (±0) Rs.93/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) (+0.5) Rs.82/kg Ex Nhava Sheva/Mundra.
- LG LS100H (-0.25) Rs.75.5/kg Ex Mundra/Bhiwandi.
Demand and Supply
- In the second half of August 2024, the US Polypropylene (PP) market experienced stability amid rising feedstock Propylene (Polymer Grade) prices and moderate trading activities.
- Despite some improvement in demand from the automotive industry, domestic PP prices fell by approximately 6% due to competitive imports from Asia and the Middle East.
- Supply conditions were strained by production issues, with INEOS on Force Majeure for Copolymer, INVISTA facing downtime, and Formosa planning new capacity.
- Tight supplies of PP Copolymer contrasted with abundant PP Homopolymer.
News
- Nova Chemicals is aiming to increase its all Polyethylene (PE) Resins Prices in the USA by 5 cents/lb (US$ 110/MT) w.e.f. 1st September, 2024.
- Sinopec has increased its domestic Benzene list Prices in China by CNY 100/MT and assessed at CNY 8,600/MT, EXW basis.
- Wanhua Chemical has restarted its Polycarbonate (PC) Plant on 26th August, 2024. The Plant is located in China with a production capacity of 600,000 Tons/Year.
- Yanchang Petroleum is planning to construct a new Integrated Complex. The Complex is located in Yan’an, China.
- Directorate General of Trade Remedies recommended modification of anti-dumping duty on imports of Polyethylene Terephthalate Resin (PET) originating in or exported from China PR by Wankai New Materials Co., Ltd, Previously, it was subject to a duty of $15.54 per metric ton (MT), but it is now recommended to increase it to $40.41 per MT. Kindly refer to the circular for detailed information.
- Jiangsu Ruiheng New Material Technology has restarted its PDH Plant for maintenance work. The Plant is located in Lianyungang, Jiangsu, China.
- Reliance Industries Limited (RIL) is planning to set up new PVC and CPVC Facilities at Dahej and Nagothane by the FY 2026-27.
- The Plants have a total production capacity of 1.5 Million Tons/Year. This expansion aims to meet the growing demand for polymers in India's infrastructure, automotive and consumer sectors.
Expert Opinion
- Demand remained moderate, with limited trading activity and ample inventory, but is expected to improve in September due to seasonal factors and ongoing uncertainties related to production disruptions and high costs.
Daily Market Report
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FPolymer_6_d2c14e4ff6.png&w=3840&q=75)
Sluggish Polymer Demand Persists as China's Chemical Market Shapes Global Trends
The polymer market remains subdued with minimal price changes and declining demand for LDPE and LLDPE grades, particularly in electrical pipe applications. Crude oil price gains and propylene price increases in Asia signal potential market shifts.
Read Story
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FPolymer_3_ac8ca392fc.png&w=3840&q=75)
Polyolefin Price Outlook for 2025: Volatility and Potential Increases
Polymer prices remain largely stable in December, with minor fluctuations across grades. Supply adjustments and seasonal demand trends suggest potential price strengthening in early 2025. Industry rationalization, including plant closures, and anti-dumping measures in global markets are expected to shape the dynamics.
Read Story
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FPPCP_Films_Ready_Material_a09070dd37.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FPVCK_67_Compounded_Ready_Material_1e8a2459cc.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FHDPEPE_100_Ready_Material_e3a92491ae.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FPPHP_Films_Ready_Material_10d55911b7.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252Flldpe1_5d71e3813a.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd3dhalnpawfxbg.cloudfront.net%252Fproduction%252Fnexizo%252Fnexizo.ai%252F_next%252Fassets%252Fbg-png-msite.png&w=3840&q=30)
%2Fhttps%253A%252F%252Fd3dhalnpawfxbg.cloudfront.net%252Fproduction%252Fnexizo%252Fnexizo.ai%252F_next%252Fassets%252Fved.png&w=128&q=75)