Weak LLDPE Market Sentiments Pushing Sellers to Lower September Pricing Targets

Polymer Price

• Pp Raffia (±0) Rs92.75/kg levels Ex Godown.
• Pp film(±0) Rs.100 kg levels Ex Godown
• PPCP (±0) Rs.98.75/kg levels Ex Godown.
• PP Lamination (±0)104/kg levels Ex Godown.
• LLDPE(±0) Rs.86.5/kg Ex Mundra/Bhiwandi.
• LDPE prices are around(±0) Rs.116kg Ex Mundra/Bhiwandi.
• HDPE PE100 natural (-0.5) Rs.91.5/kg Ex Mundra/Bhiwandi.
• HDPE PE100 black (-0.5) Rs.92/kg Ex Mundra/Bhiwandi.
• HDPE HM (-1) Rs.91/kg Ex Mundra/Bhiwandi.
• HD Blow Molding(±0) Rs.91/kg Ex Mundra/Bhiwandi
• Low K (P700/TH700) (+0.0) Rs 85.50 Ex Nhava Sheva/Mundra
• LG LS100H (-0.0) Rs 76.50 Ex Mundra/Bhiwandi

Polymers Supply and Demand

• LLDPE spot prices down adjusted in the European region.

• European spot LLDPE prices continued to decline, with tepid demand sentiments proving to be a drag on the market. The market has been seesawing between weak demand and ample supplies. Participants have been exercising caution amid persistent economic challenges, with no pick up seen in post- summer holiday demand. Current weak market sentiments have pushed most sellers to lower their September pricing targets, with buyers prioritizing the restocking of immediate requirements.

Polymer News

• Asahimas Chemical is planning to shut its No.3 Vinyl Chloride Monomer (VCM) Line in end-September, 2024 for scheduled maintenance work. The Line is located in Cilegon, Indonesia.

• Suzhou Huasu Plastics Co. Ltd is planning to restart its Polyvinyl Chloride (PVC) Plant in early-October, 2024. The Plant is located in Jiangsu Province, China.

• Chiping Xinfa Chem is aiming to shut its Polyvinyl Chloride (PVC) Plant on 23rd September, 2024 for planned maintenance work. The Plant is located in Chiping City, Shandong Province, China.

• PVC Prices in Europe closed stable at Euro€ 870/MT FD NWE basis.

Expert Opinion

Sharply oscillating feedstock price movements have kept buyers on tenterhooks with many preferring to adopt a wait and watch approach. In some cases, buyers have already purchased cargoes required for September in July-August. Most buyers have been witnessing a systemic decline across value chains amid a prevailing bleakness in Europe’s industrial outlook.