OPAL: Price Protection And Latest Updates For PE And PP Products

Owing to the dynamic nature of the polymer industry, price fluctuations are a common occurrence. In response to recent market trends, OPAL (ONGC Petro additions Limited) has announced fresh price protection in polyethylene (PE) products, along with price reductions for various grades of high-density polyethylene (HDPE), low-density polyethylene (LLDPE), and maintaining the current prices for polypropylene (PP) products. Let’s explore an overview of the changes and their market implications.

Polyethylene

OPAL has introduced a price protection policy for PE products, which will be effective from 8 June 2023- 30 June 2023 or the next price change, whichever comes first. This move is aimed at providing stability and assurance to customers amidst fluctuating market conditions. Buyers can now plan their purchases with more confidence, knowing that they are protected against any potential price increases during this period.

Here are the details:

1.   LLDPE

LLDPE prices have been reduced by INR 3,000/MT. This price reduction is expected to boost demand for LLDPE products in various industries such as packaging, agriculture, and construction. The lower prices will also make LLDPE products more competitive in the market, potentially increasing their market share.

2.   HDPE

These price reductions are expected to stimulate demand for HDPE products in various sectors such as automotive, construction, and consumer goods:

• IM/GPBM/MBM/RAFFIA/YARN- Prices have been reduced by INR 3,000/MT.

• Pipe Grades- Have seen a reduction of INR 2,000/MT.

• HM/Film- Prices have been lowered by INR 1,500/MT.

Polypropylene

While there have been price adjustments in PE and HDPE products, OPAL has decided to roll over the existing prices for PP products. This decision is likely a result of analyzing market conditions and ensuring that PP products remain competitive in the market.

OFB’s Insight

OPAL’s recent announcement- price protection in PE products, along with price reduction for LLDPE and HDPE grades, reflects the company’s commitment to adapt to market trends and provide value to its customers. These changes are expected to have a positive impact on the demand for these products across various industries. By rolling over PP prices, OPAL maintains its competitive edge while providing stability for its customers. As the market continues to evolve, industry players will need to stay vigilant and respond to changes to maintain their position in the ever-changing polymer landscape.

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