OfBusiness Polymer Dailies | 7th July 2023

Price

• PP prices have kept stable having faced a backlash on buying from buyers post the price hike on Wednesday.
• PP Raffia (Domestic) prices were at Rs.85-85.5/kg levels Ex Godown.
• PP Film (Domestic) prices were at Rs.89-91/kg levels Ex Godown.
• PPCP (Domestic) prices were at Rs.90-91/kg levels Ex Godown.
• PP IM (Domestic) prices were at Rs.86-87/kg levels Ex Godown.
• PE prices have kept stable with a stable to high buyer demand and an expected upsurge in HM and Blow Mould Grades.
• HM HDPE prices were at Rs.102-103/kg levels Ex Mumbai.
• HD IM prices were at Rs.92-93/kg levels Ex Mumbai.
• HD BM prices were at Rs.102-103/kg levels Ex Mumbai.
• LLDPE Film prices were at Rs.91-92/kg levels Ex Mumbai (Reliance).
• LDPE Film prices were at Rs.92-93/kg levels Ex Mumbai ( Reliance).
• PVC prices have kept stable across this week with minor to no movement on the price index.
• Ethylene-based PVC (LG /Japan) prices were at Rs.75-76/kg levels Ex Mundra.
• Carbide-based PVC (China) prices were at Rs.73-74/kg levels Ex Mundra.

Demand and Supply

• Despite higher upstream energy and ethylene feedstock values, PVC prices were assessed as stable in the Asian region.
• The regional market sentiment was reportedly steady amid sufficient product avails.
• In ABS’s weaker SM, ACN, and butadiene feedstock values, ABS prices remained steady in Asia this week.
• Market sentiment was reported to be steady in the region.
• Product avails were noted to be sufficient in the region.
• HDPE prices were assessed lower.
• A combination of tepid buying sentiments and regional oversupply put downward pressure on prices.
• A week-on-week fall in upstream energy values also pulled prices lower in the region.

News

• Guangxi Guangwei Group is likely to restart its Vinyl acetate monomer (VAM) unit in Yizhou.
• Sinopec Yangzi Petrochemical has shut down its No.3 High-density polyethylene (HDPE) unit in Nanjing.
• Indorama Petrochemicals has taken off-stream its purified terephthalic acid (PTA) unit in Cilegon.
• Shaanxi Yanchang Coal Yulin Energy and Chemical has shut down its No.3 Polypropylene (PP) plant.
• Nan Ya Plastics has undertaken an unplanned shutdown at its 2-ethylhexanol (2-EH) plant in Mailiao.
• Petronas Chemicals is likely to take off-stream its Butyl acetate plant in Kerteh.
• Guangxi Huayi New Materials has taken off-stream its Bisphenol A (BPA) unit.
• Sinopec Zhongke (Guangdong) Refining and Chemical has taken off-stream its Monoethylene glycol (MEG) unit.
• Wanhua Chemical is likely to take off-stream its N-butanol (NBA) unit in Yantai.
• Kellin Chemical (Zhangjiagang) has taken off-stream its Methyl isobutyl ketone (MIBK) unit.
• Kumho Petrochemicals is likely to take off-stream its Acrylonitrile butadiene rubber (NBR) plant in Ulsan.
• Sir Industriale is likely to take off-stream its epoxy resins plants in Macherio and Castelseprio.

OFB’s Opinion

• It is expected that the PVC market will remain stable due to a lack of significant increase in demand. The PP segment, characterized by limited supply and subdued demand, is anticipated to remain stable.
• In the case of PE, there may be a price hike for HM and Blow Mould grades driven by an increase in demand, but the overall price index is expected to stay stable.