Weak Demand and High Stock Levels Pressure PVC Market
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Low K (P700) Rs. 83 Ex-Nhava Sheva/Mundra, Low K (B57) Rs. 86.50 Ex-Nhava Sheva/Mundra, LG LS100H Rs. 75.75 Ex-Mundra/Bhiwandi. In Southeast Asia, PVC prices stayed between $750-805/mt CFR, remaining the same as last week. Prices held steady as discussions in the PVC market were less active this week.
Polymer Price
- PP Raffia (±0) Rs. 92.50/kg levels Ex-Godown
- PP Film (±0) Rs. 100/kg levels Ex-Godown
- PPCP (±0) Rs. 98.25/kg levels Ex-Godown
- PP Lamination (±0) Rs. 104/kg levels Ex-Godown
- LLDPE (+0.5) Rs. 87/kg Ex-Mundra/Bhiwandi
- LDPE prices are around (±0) Rs. 116/kg Ex-Mundra/Bhiwandi
- HDPE PE100 Natural (-0.5) Rs. 91/kg Ex-Mundra/Bhiwandi
- HDPE PE100 Black (±0) Rs. 92/kg Ex-Mundra/Bhiwandi
- HDPE HM (-1) Rs. 90/kg Ex-Mundra/Bhiwandi
- HD Blow Molding (±0) Rs. 91/kg Ex-Mundra/Bhiwandi
- Low K (P700) Rs. 83 Ex-Nhava Sheva/Mundra
- Low K (B57) Rs. 86.50 Ex-Nhava Sheva/Mundra
- LG LS100H Rs. 75.75 Ex-Mundra/Bhiwandi
Polymer Demand and Supply
- In Southeast Asia, PVC prices stayed between $750-805/mt CFR, remaining the same as last week. Prices held steady as discussions in the PVC market were less active this week.
- An Asian producer, trying to sell off stock built up during maintenance, expected to offer higher prices.
- However, demand stayed low, showing weak buying interest. Bad weather and recent storms slowed down purchasing across Southeast Asia, with Vietnam being the hardest hit.
- Factories in northern Vietnam had to close because of weather warnings.
Polymer News
- Shanghai SECCO Petrochemical has kept its Acrylonitrile (ACN) weekly prices stable at CNY 9,000/MT in China, ex-tank basis.
- Chinese producer Bohua offered its PVC DG-1000S at USD 695/MT and PVC DG-700/DG-800 at USD 710/MT, FOB Tianjin basis, for October 2024.
- Jinneng Science and Technology has shut its No. 2 Polypropylene (PP) line at the end of September 2024 for maintenance work. The line is located in Qingdao, China.
- Brent crude oil prices traded higher at USD 72.49 per barrel.
- Naphtha prices were assessed higher at USD 650 per MT CFR Japan basis.
- Ethylene prices were assessed stable at USD 835 per MT CFR NE Asia and USD 945 per MT CFR SE Asia basis.
Expert Opinion
It is expected that spot activity will remain sluggish, with consumers continuing to make purchases based on immediate needs. Demand for materials is anticipated to decrease further, as consumers hold ample inventories, which will likely reduce the urgency for additional purchases.
Daily Market Report
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