Falling Crude Oil prices fail to moderate HDPE prices in Indian markets as shortage counters impact

HDPE prices in India tend to stay stable despite Crude Oil prices declining in international markets as shortage of the polymer caused by the ongoing maintenance shut-down of the Nagothane plant of Reliance Industries Limited (RIL) has been offsetting the impact of the oil price fall, in an active demand environment for the polymer arising due  to vigorous off-takes from the active packaging industry. According to the latest information received, the idled plant is expected to resume operations by the 20th of this month. 

Prices of PP grades likely to come under pressure on shortage

Prices of some grades of the PP material are likely to rise in Indian polymer markets in the coming days due to shortage. Traders in the major markets in the country told Indianpetrochem that the Injection Moulding and Film grades of the material were short in stocks due to non-receipt of supplies from HMEL and Haldia Petrochemicals Limited, as the PP plants of the producers are in idled condition for maintenance purpose.  Traders, thus, apprehend that the prevailing shortage might result in the prices going up in the days to come.

Sluggish PVC demand continues in India on end-industries slowing down in rainy season

Depressed buying sentiment continues to prevail in Indian polymer markets in respect to the PVC material, which is subjected to weak demand, primarily due to slow-down in the end-industries. Predominant  PVC consumers: agriculture, construction industries have slowed down on account of the prevailing rainy season, resulting in demand for the raw material weakening, and the price going down as a result. Reliance Industries Limited lowered its PVC price in the last price revision, seemingly due to the sluggish market conditions apart from international price trend.

MEK price hikes due to limited availability of material in Indian market

Prices for Methyle Ethyle Ketone, a petro-chemical majorly used in the dyes stuff and ink industry increased extensively from the level of Rs 128 per kg to around Rs 140 per kg in the Delhi market on 1st September 2014. 

Upswing of IM HDPE, PP prices likely in Indian markets on short supply, less import shipments

Indian polymer markets are seeing shortage of the Injection Moulding materials of HDPE and PP due to the twin effects of shrinking supply from domestic producers and less import shipments reaching the country's shores. In the meantime, demand for the materials is also in the upswing as consumption from the houseware sector is strong. Market players say that exports of houseware products have increased, resulting in demand for the corresponding raw materials strengthening proportionally. 

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.