OfBusiness Polymer Dailies

12th April’23

Price

• On Tuesday, The purchase pulse remains steady in the open market of Delhi. PP raffia (IOCL/Mittal) prices were at Rs.98-99 /kg levels. PP film (IOCL/OpaL) prices were at Rs.99-100 /kg levels, while PP injection (OPaL) prices were at Rs.98-99 /kg levels. PP Copolymer (IOCL/HPL) prices were at Rs.104-105 /kg. PP RCP (IOCL) prices were at Rs.112-113 /kg.
• HMHDPE (Haldia) prices, in Delhi’s open market, were at Rs.112-113 /kg levels. HDPE injection (GAIL) was at Rs.106-107 /kg levels. HDPE Blow moulding (OPaL) was at Rs.106-107 /kg levels. HDPE Blow moulding (GAIL/HPL) was at Rs.106-107 /kg levels.
• LLDPE film (OPaL) prices were at Rs.101-102 /kg levels, while LDPE film (Reliance) prices were at Rs.103-104 /kg levels.
• Carbide-based PVC (China) prices were at Rs.82-83 /kg levels. Ethylene-based PVC (LG) prices were at Rs.84-85 /kg levels.

Demand and Supply

• The supply of Polyvinyl chloride (PVC) from Xinjiang Zhongtai is expected to decrease as the company may take offstream its PVC unit.
• Sinopec Yangzi’s No.2 polypropylene (PP) unit in Nanjing is already shut, further affecting the supply.
• Hanwha Solutions Corporation is also expected to reduce its production of Ethylene vinyl acetate (EVA) as it may take offstream its plants in Ulsan, leading to a decrease in the supply of EVA.

News

• Sadara Chemical Company has decided to prolong the closure of its glycol ethers unit in Al Jubail.
• Weilian Chemical has closed down its No.1 Paraxylene (PX) plant located in Dongying.
• Despite weaker ethylene feedstock values, PVC prices were assessed flat in the Asian region this week.

OFB’s Opinion

• OFB experts predict that although ethylene feedstock values were weaker, yet PVC price sentiment is expected to be steady. Overall for Polymers, the market sentiments were mixed amid weak demand trends and competitive offers from overseas suppliers.