Sluggish demand and ample stocks pulls down PVC prices

The market price of PVC at various trading hubs in India have declined due to stock build-up and weak demand conditions. Apart from market prices, the website gathers that Reliance Industries Limited (RIL) declined its ex- works price as well on 21st August, 2014 by Rs. 2 per kg on account of the current market sentiment.

Styrene prices spike due to delay in imports

Yet again this month the bulk price of Styrene has risen to level of Rs. 109-111 per kg from levels of Rs. 106 per kg, Ex- Kandla, on account of short supply of imports. Most importers have limited stock of the chemical while major end users, such as Polystyrene (PS) manufacturers have received their import shipments.

Phenol prices likely to decline as supply situation eases

After touching highs of Rs. 130 per kg, Ex- Kandla, this month, the bulk price of phenol is most likely expected to witness a downward price correction in the near term as supply situation strengthens. Significant import shipment of phenol is expected to reach Kandla within the next few weeks, this has already led to a downward trend in bulk prices this week.

Bulk price of ortho-xylene lowers due to tepid demand

This month, moderate to weak demand for ortho-xylene from end -users has led the bulk prices, Ex- Mumbai, to decline from previous months average by Rs. 6-4 per kg to the range of Rs. 83-85 per kg. In line with this momentum, Reliance Industries Limited (RIL), also rolled over its ex- works price for the aromatic to previous months basic price of Rs. 93 per kg.

Domestic price of PP expected to decline

This month most domestics manufactures of Polypropylene increased their ex- works price by Rs. 1-2 per kg, on account of demand -supply imbalance in the market. Howevere, going forward, there is a market expectation that polypropylene (PP)prices will move down in the near future as cheaper imports will flood the market. 

Weak seasonal demand pulls down PVC prices

Reliance Industries Limited (RIL) rolled over its ex-works price for PVC this month, on account of weak demand. In similar fashion, Indianpetrochem observed from its price database, that the market price for imported PVC declined in major trading hubs across India, this month. 

MEK prices hike on short supply, prices expected to decline by August end

This week the bulk price of Methyl Ethyl Ketone (MEK) has been on an upswing due to short supply caused by delay in imports. Bulk prices leaped from trading range of Rs. 107-109 per kg to levels of Rs. 120-121 at the end of this week, on an average the prices gained by Rs. 2-3 per kg everyday.

Methanol prices couldn't maintain the gains observed last week as competition intensifies this week

This week the bulk price of methanol, Ex-Mumbai, declined by Rs. 1-2 per kg as suppliers (mainly importer) lost the bargaining power to command high prices, as observed last week, and engaged in price war, which dragged down the prices this week. Bulk prices declined this week even as the booking price of methanol gained weight by $5 per metric tonne to $280 per metric tonne CFR India.

Bullish international market sentiment for Benzene last month lifts ex-works prices for the Aromatic in India this month

International benchmark price of Benzene have been on a downward trend since the beginning of the month, benchmark price in Korea have dropped by 4% since the beginning of this month. On the other hand, most domestic manufacturers have conducted an upward price revision on the basic price of Benzene, citing "international price hike of Benzene" to be the main reason.

PS prices hike due to domestic short-supply

Despite moderate to weak demand for General Purpose Polystyrene (GPPS) from most end user industries, the price of the polymer has been on the rise in domestic markets due to short supply from domestic producer. Supreme Petrochem has ceased its manufacturing unit for Polystyrene (PS) due to unavailability of Styrene, while limited imports are available in the market.

Less than expected demand for C9 solvent from agrochemical industry can brew a loss making season for Indian manufactures and importers

RIL declined its ex- works price of C9 solvent in August  from Rs. 2.50 to Rs.70.00 per kg. Indianpetrochem had assimilated in its previous news story that there are strong market indicators for RIL to perform a downward price revision due to low demand and huge inventory pile -up at suppliers end. C9 market has registered one of the biggest drop in demand as the technical used in agrochemical industry isn't available in the Indian market.

Cyclohexanone price set to rise as Benzene gains momentum internationally

There is strong indication that Cyclohexanone prices will rise in the near term as its feedstocks price, Benzene, is impacted by volatility in crude oil. Last week bent crude prices peaked at $108.39 a barrel as a consequence of geopolitical tensions in European Union and Middle East.

Outlook of price for the PET material likely to remain uncertain

With the onset of monsoon in several parts of the country, Indian polymer market is showing considerable fluctuations. Demand for the engineering plastic is usually low during this period of the year as most of the end user curtail their production rates for beverage bottles, which consumes majority share of  PET material. The demand is expected to gain momentum at the end of the monsoon season. The outlook of price for the polymer material is likely to remain uncertain.