Sep 30: Demand for Benzene and Toluene gained slightly in the Delhi market today, although the overall demand conditions remained sluggish. Prices of the aromatics in the market also did not moderate from the high rates prevailed during the preceding days. In the Delhi market today Benzene and Toluene were sold at around Rs 86.60 a litre and Rs 92.50 a litre respectively.
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Sep 27: PP sales in the Delhi market continued to remain inactive even after producers reducing their PP prices during the last price revisions. In the context of the prevailing market conditions in respect to the polymer, a trader in the Delhi market told Indianpetrochem," PP sales have not improved despite the producer price reductions in the last price revisions." He also said," Buyers seem to adopt a wait-and-watch mode in the prospect of further price cuts." In the Delhi market today, the Raffia, Injection Moulding and Film grades of PP were sold at around Rs 118 per kg, Rs 119 per kg and Rs 122 per kg respectively.
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Sep 27: Prices of Ortho and Mixed Xylenes in the Delhi market are not likely to moderate in the coming days despite the INR appreciating from the significantly low levels, according to traders in the market. A trader in the Delhi market told Indianpetrochem," Ortho and Mixed Xylenes have remained costly, and that have been keeping most buyers away from purchasing. I do not see any moderation in the prices in the coming days." In the Delhi market today, Ortho Xylene was sold at around Rs 108-110 per litre and Mixed Xylene at sround Rs 107-110 per litre.
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Sep 26: Traders in the major markets in India experienced less EVA sales as most buyers seem to postpone their purchase schedules in the prospect of the price of the polymer moderating in the coming days.
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26 Sep: Acrylonitrile price in the Delhi market underwent no moderation, resulting in demand for the chemical remaining weak in the market. In the context of the prevailing market conditions, a trader in the market told Indianpetrochem, "High Acrylonitrile price continues to keep demand low in the market."Acrylonitrile was sold in the Delhi market today at around Rs 175 a kg.
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25 Sep: Demand for Styrene in the Delhi market continued to remain weak as there was no moderation in price of the chemical. Styrene price continued to remain high, and the chemical, today, was sold at around Rs 150 a litre. Styrene price went high due to the deprecation of the INR, which pushed up landed costs of imports.
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24 Sep: Benzene and Para Xylene supplies in India will strengthen substantially from the beginning of next year as ONGC Mangalore Petrochemicals Limited (OMPL) schedules dispatching its maiden production consignment in January 2014. OMPL, formed in December 2006, is a joint-venture between Oil and Natural Gas Commission (ONGC) and Mangalore Refinery and Petrochemicals Limited (MRPL). The joint-venture entity has set up an aromatic plant in the Mangalore Special Economic Zone, and the plant will be commissioned by November 2013, according to the latest inputs received. The plant will produce 270,000 tonne per annum of Benzene and 900,000 tonne per annum of Para Xylene.
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24 Sep: Market participants in India seem not to be much optimistic of any major rise in demand for PVC in the coming days, as they do not see any major spurt in manufacturing of the end-products. A Mumbai-based trader told Indianpetrochem," Demand for PVC has remained sluggish without any improvement. The sluggish demand is not only due prevalence of high price for the polymer but also due to slowing down in manufacturing activities." He said," Investments in many projects, in which PVC items are used, have been lowered, and that will impact bulk purchases of PVC, and based on my assessment, I do not foresee any major strengthening of demand for the polymer in the days to come." He quoted price for PVC in the market at around Rs 83 a kg.
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23 Sep: Prices of Benzene and Toluene in the Mumbai market have eventually started moderating with the INR appreciating. Traders in the Mumbai market told Indianpetrochem that prices of Benzene and Toluene in market started declining and the prices would further decline in the days to come. The traders also told that buyers also started purchasing in bulk due to the aromatics becoming cheaper. In the Mumbai market today, Benzene and Toluene were sold at around Rs 89-91 a litre and Rs 86-88 a litre respectively.
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20 Sep: Polymer prices in the major markets in India underwent moderate downward movements after the producers in the country lowering their polymer prices. In the latest price revisions,Reliance Industries Limited, Haldia Petrochemicals Limited, Indian Oil Corporation Limited and HPCL-Mittal Energy Limited reduced their polymer prices, and assured price protections upto September 30, 2013. Market participants also expect GAIL to announce price reduction shortly.
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19 Sep: The price reductions for PP, announced today by Reliance Industries Limited (RIL) and HPCL-Mittal Energy Limited (HMEL), triggered expectations of further price cuts among most buyers in India. Many PP buyers in the country, with whom their raw material purchasing plans were discussed, said that they preferred continue to purchase their PP requirements on need-basis as they expected further price cuts by producers in the country in the coming days. RIL and HMEL today lowered their PP prices by Rs 2 a kg.
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19 Sep: Soaring C9 price has been impacting the user-industries by triggering price hikes of the finished products, traders in the Delhi market told Indianpetrochem. A Delhi-based trader told Indianpetrochem," There is no improvement in demand for C9 as the price continues to remain high." C9 was sold today at around Rs 104-107 per litre."
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18 Sep: The price protection for PVC by Reliance Industries Limited, upto September 30, 2013, seems to have raised sentiments of PVC item manufacturers in the country as most of them anticipated price of the polymer to eventually moderate with the INR showing signs of gradual appreciation.
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18 Sep: Toluene price continued to remain high in the Delhi market without any sign of moderation in the coming days. Sales of the aromatic thus remained lackluster in the market as buyers preferred to purchase the aromatic on need-basis only. Toluene was sold today in the Delhi market at around Rs 87 a litre.
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Sep 17: Prevalence of high Para Xylene price dampened the prospect of traders in the Delhi market of seeing active sales as buyers preferred to purchase the costly aromatic on need basis. Normally, demand for Para Xylene rises sharply from around the onset of September as manufacturing of paints gains strong momentum due to the important festivals ahead. However, this year, sales of the aromatic were not as robust as expected due to the price remaining at high rates.
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Sep 16: Sluggish conditions in Indian polymer continued to prevail despite polymer producers in the country announcing price protection for their PE and PP. In want could be regarded as moves to encourage raw material purchases in the country, Reliance Industries Limited, Haldia Petrochemicals Limited, Indian Oil Corporation Limited and GAIL (India) Limited announced price protection for their PE and PP materials upto September 30, 2013, which means that there will be no upward traversals in prices of the polymers in this month.
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Sep 13: Raw material cost pressure on plastic item manufacturers in India seems not to mount further in the coming days as producers are not likely to raise their polymer prices further. Today, Haldia Petrochemicals Limited announced price protection for its PE and PP, upto September 18, 2013. But, there is no likelihood of any remarkable polymer price moderation in the country in the coming days despite the price protection. A trader in the Jaipur market told Indianpetrochem on the possible market conditions in the succeeding days, "Polymer prices are not going to decline significantly in India despite any price protection." He further said," Market demand continues to remain sluggish."
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Sep 13: Constant usage of Linear Alkyl Benzene (LAB), especially in the detergent industry, kept demand for the surfactant strong in Indian markets, amid prevalence of high prices. A market source told Indianpetrochem, "Price of LAB has gone up remarkably during the last six months in India, however, there has been no weakening of demand for the surfactant as it is a key ingredient for the detergent industry." He further said," Price of LAB has gone up to Rs 120-130 per litre from Rs 80-90 per litre during the last six months."
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Sep 12: The gradual appreciation of the INR has triggered expectation of some moderation in polymer prices in India in the coming days. And, if polymer prices moderate, polymer purchasing momentum will strengthen substantially in Indian markets. Demand for polymers in the country's markets is expected to rise by the end of the month as the approaching festival season will necessitate plastic raw material purchases for manufacturing various plastic items.
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Sep 11: The prevailing sluggish conditions for PET is likely to come to an end by this month getting over as the demand is expected to rise due the approaching festive season in the country. Normally, demand for PET weakens in the country during the rainy season, during which beverage bottle manufacturing activities decline. With the rainy season coming to an end in the country by the end of this month and important festivals approaching, PET off-takes are expected to strengthen by the first half of the next month.
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Sep 11: Traders in the Delhi market today saw some Benzene sales, although price of the aromatic continued to remain high. However, the overall market conditions for the aromatic continued to remained dull due to the price remaining high. In the Delhi market today, traders quoted price of Benzene at Rs 84 a litre.
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Sep 10: Demand for ABS in Indian polymer markets continued to remain sluggish due to price of the engineering polymer was high. A market survey conducted by Indianpetrochem revealed that most ABS buyers preferred to purchase their ABS requirements on need basis, and many of them postponed their purchase schedules in view of the high cost of the raw material. The Natural variant of ABS was sold in the Delhi and Mumbai markets at around Rs 166 per kg and Rs 163 per kg respectively.
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Sep 10: Demand for C9 in the Delhi market is expected to moderately strengthen in the next week on off-takes from the paint industry, traders in the market told Indianpetrochem. In the Delhi market, traders saw weak demand conditions for the chemical as its price was high, and stocks of the chemical in the market was also less as traders preferred not to maintain excess stocks in view of the weak demand conditions. Traders in the market today quoted the price for the chemical at Rs 106 per litre.
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Sep 09: Buying momentum in the major polymer markets in India has remained inactive although replenishment of raw material inventories by plastic item manufacturers, at the current prices, seems to be a prudent option in view of a possibility of further price hikes. Traders in the major markets of the country told Indianpetrochem that they did not see any improvement in buying activities even after the customs exchange rate for imports was hiked to Rs 67 per USD recently.
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Sep 06: Polymer imports into India will become more costly as the Government of India has hiked the customs exchange rate for imports to Rs 67 per USD from Rs 65.35 per USD. Costly international offers and the hike in the customs exchange rate will further raise landed costs of polymer imports into India, that is likely to prompt Indian producers to further raise their polymer prices in the succeeding price revisions. Plastic item manufacturers in the country should, thus, replenish their raw material inventories by procuring polymers from the domestic markets, avoiding any wait-and-watch stance, despite prevalence high polymer prices in the markets.
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Sep 06: Prevalence of weak demand conditions has put traders in the Mumbai market in a difficult state in deciding their Styrene import volumes. Demand for Styrene in that market has weakened considerably as the price for the chemical went significantly up, primarily due to the weakening INR, rendering imports costlier. As a matter of fact, India is devoid of any Styrene plant, as such, the entire demand for the chemical in the country has to be catered to through imports.
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Sep 06: High Acrylonitrile price in the Delhi market resulted in not only the sales lessening but also traders in the market maintaining less stocks. Traders in the Delhi market told Indianpetrochem that sales of Acrylonitrile were lessening in the market due to the price of the chemical was considerably high, and only large buyers purchased the chemical, while the small and medium buyers postponed their purchase schedules, adopting a wait-and-watch stance. Acrylonitrile was sold today in the Delhi market at around Rs 172 a kg.
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Sep 05: Polymer purchases have gained mild momentum in some markets in India, amid high polymer prices, as plastic item manufacturers in the country were left with no other option but to procure raw materials to keep their manufacturing units running. A market survey conducted today by Indianpetrochem revealed that polymer purchases gained momentum moderately in the Delhi and Mumbai markets. Traders in the markets told Indianpetrochem that buyers bought polymers to cater to their immediate needs, and abstained from buying in excess of their immediate requirements. In the context of the prevailing market conditions, a trader in the Mumbai market told the website,"Polymer purchases have improved moderately and buyers have been purchasing on need basis." He further said," Due to the high polymer prices, most buyers bought polymers on credit and not against cash payment."
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Sep 05: Costly Toluene kept most buyers away from purchasing the aromatic, according to traders in the Delhi market. The aromatic was sold today in the market at around Rs 82 a litre. Prevalence of weak demand conditions also prompted traders in the market to maintain less Toluene stocks. A trader in the market told Indianpetrochem," Toluene purchases are lessening as the price is going higher."
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Sep 04: HDPE purchases in the Delhi market are likely to remain lackluster in the coming days as many HDPE item manufacturers in the region were learnt to curtail their production volumes due to weakening of demand for their finished products, which became costlier due to prevalence of high HDPE price. Polymer traders in the Delhi market today experienced very less sales due to steep hike in polymer prices. Describing the prevailing market situation, a trader in the Delhi polymer market told Indianpetrochem," Sales became very less after the recent price hikes by Indian producers. Buyers are keeping away from polymer purchases due to the steep price hikes."
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Sep 04: High price of Para Xylene continued to dampen sales in the Delhi market, according to traders in the market. Moreover, Para Xylene stocks in the market were less as traders preferred not to maintain high stocks due to the prevalence of weak demand conditions. Para Xylene was sold today in the Delhi market at around Rs 90 per litre.
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Sep 03: Traders in the Mumbai market today saw active Benzene sales, despite price of the aromatic was high. The active sales were on account of purchases by diverse industries to cater to the day-to-day needs. In the Mumbai market today, Benzene was sold at around Rs 83.50 a litre. Data available with Indianpetrochem shows that price of the aromatic in that market remained at high rates since the onset of the third week of August 2013. On August 19, 2013, Benzene price in that market was assessed at Rs 80 a litre, which was moderately lower than the price of the aromatic today in that market.
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Sep 03: Rising C9 price in the Delhi market weakened demand for the chemical, according to traders in the market. C9,commonly known as 'N-Nonane', was sold today in the Delhi market at around Rs 106 a litre.
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Sep 02: Raw material cost pressure on plastic item manufacturers in India increased further with the polymer producers in the country hiking their product prices considerably with effect from today. The country's largest polymer producer, Reliance Industries Limited (RIL), hiked its prices for PE, PP, PVC and EVA significantly, which will result in the open market prices going up remarkably in the coming days. In the price revision, RIL hiked prices for its: HDPE grades by Rs 7-9 per kg; LDPE grades by Rs 9-12 a kg; and LLDPE grades by Rs 6-9 a kg. Moreover, prices of the company's PP grades, PVC and EVA were hiked by Rs 9 a kg, Rs 7 a kg and Rs 15 a kg respectively. The remarkable price hikes will eventually result in plastic items becoming more costly in the days to come.
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Sep 02: Toluene sales in the Mumbai market today were moderate as the price of the aromatic was high, which kept many buyers away from buying the aromatic. Some traders in the market revealed to Indianpetrochem that availability of Toluene lessened in the market as some traders indulged in stocking the aromatic anticipating further rise in the price. Toluene was sold today in the market at Rs 85 a litre.
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30 August: Demand for LDPE in Indian polymer markets is expected to remain moderate in the coming days. The weak INR will continue to keep polymer prices high in India, ruling out prospect of any price moderation in the near term. LDPE buyers in the country thus could not expect any respite from raw material cost pressure in the days to come. A market survey conducted by Indianpetrochem revealed that prices of the end-products of LDPE went higher due to prevalence of high raw material cost, as a result of which, sales of LDPE end-products lessened in some markets. Some LDPE item manufacturers also told Indianpetrochem that they curtailed their manufacturing volumes as costlier end-products resulted in lesser sales.
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30 August: Acrylonitrile sales in the Delhi market lessened due to prevalence of high price, as traders in the market told Indianpetrochem. A trader in the Delhi market told the website,"Acrylonitrile price has been rising constantly during the last four weeks, and that is why buying has gone down in the market." The trader further told that Acrylonitrile imports were avoided by traders due to the weak INR.
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