OfBusiness Polymer Dailies | 19th July 2023

Price

• PP prices have experienced a consistent upward trend in the past week, showing a daily increase.
• Domestic prices for PP Raffia range from Rs.88.5-89.5/kg levels Ex Godown.
• Domestic prices for PP Film range from Rs.91.5-92.5/kg levels Ex Godown.
• Domestic prices for PPCP range from Rs.92.5-935/kg levels Ex Godown.
• Domestic prices for PP IM range from Rs.91-92/kg levels Ex Godown.
• PE prices remain stable with high buyer demand and an expected increase in HM and Blow Mould Grades.
• LLDPE prices are around Rs.93/kg, +/- 0.5 Ex Mundra/Bhiwandi.
• LDPE prices are around Rs.105-107/kg, +/- 0.5 Ex Mundra/Bhiwandi.
• HDPE PE100 natural prices are around Rs.104/kg, +/- 0.5 Ex Mundra/Bhiwandi.
• HDPE PE100 black prices are around Rs.107/kg, +/- 0.5 Ex Mundra/Bhiwandi.
• HDPE HM prices are around Rs.99/kg, +/- 0.5 Ex Mundra/Bhiwandi.
• HD Blow Moulding prices are around Rs.106/kg, +/- 0.5 Ex Mundra/Bhiwandi.
• PVC (SG5) prices are around Rs.76.5/kg, +/- 0.5 Ex Mundra/Nhava Sheva.
• Ethylene Based K67 (LG/Formosa) prices are around Rs.78.5/kg, +/- 0.5 Ex Mundra/Nhava Sheva.
• Low K (Formosa B57) prices are around Rs.81/kg, +/- 0.5 Ex Mundra/Nhava Sheva.

Demand and Supply

• PVC prices increased due to improved buying activities, sluggish overall demand, tight material supplies, reduced production rates, plant shutdowns, and higher-priced deals in the region.
• PET prices remained stable in the market due to limited trading activity and weak demand sentiments.
• ABS prices remained stable in the market, with consistent stability reflecting muted market fundamentals in the region.
• Polypropylene prices showed an upward trend in South Asia and remained stable in other parts of Asia. The price increase was driven by higher upstream energy values.

News

• Shanghai Wujing Chemical has restarted its No.2 acetic acid unit.
• Asahi Kasei Mitsubishi Chemical Ethylene Corp has restarted its cracker in Mizushima.
• Shanghai SECCO has brought onstream its Styrene monomer (SM) plant.
• Shinkong Synthetic Fibre has taken offstream its No. Polybutylene terephthalate (PBT) plant in Taoyuan.
• Lianyungang Petrochemical has restarted its No. 1 High-density polyethylene (HDPE) unit.
• BorsodChem has undertaken a planned shutdown at its Toluene diisocyanate (TDI) unit in Kazincbarcika.
• TSRC Corp has shut down its Polybutadiene rubber (PBR) unit in Ta-sheh City.
• Jiangsu Sopo Chemical has brought onstream its Ethyl acetate (Etac) plant.
• Shinkong Synthetic Fibre has brought onstream its No. 2 Polybutylene terephthalate (PBT) plant in Taoyuan.
• Dow has taken offstream its Ethylene oxide (EO) unit in Plaquemine, Louisiana.

OFB’s Opinion

• It is expected that PVC resin suspension grades will continue to see a price increase in the coming week. Market activity for PP is expected to remain thin in the region, and the price is anticipated to remain at a higher level. HDPE/LDPE prices are expected to remain stable with minor to no movement.