| Weekly Report - Engg.Polymers : PC, SAN, POM, PBT, PA6, PA66 ( Wk 1, March.'23) |
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Click to Download PDF with historical Data : PC Feed Stock : ( RMB/Mt) Bisphenol A : 9700 Nylon 6 & 66 Feed Stock : ( RMB/Mt) Caprolactam : 13100 POM Feed Stock : ( RMB/Mt) Methanol : 2600 PMMA Feed Stock : ( RMB/Mt) MMA: 10200 PBT Feed Stock : ( RMB/Mt) PTA: 5753 BDO: 14000 China Bazaar : PA6 / 66 : With the lack of downstream PA6/66 demand in China R/M bazaars, the spot prices remained standstill. Also, no signs of demand improvement could be seen. PC: In China, PC bazaars have borne the blunt of the twin impact of supply crunch and tepid demand. Given the information we received from our bazaar sources, there have been a supply tightness of bisphenol A, the key input for PC production. Resultantly, the producers lowered their output. However, the spot prices are expected to remain immune to the supply shrinkage due to sluggish demand. PBT: Inactive PBT demand prevailed in China R/M bazaars on account of the wait-and-watch policy adopted by processors. The spot prices stayed at lows. PMMA: The spot PMMA prices in China bazaars are not expected to rise, as the downstream demand stayed poor. POM: The high POM availability in China R/M bazaars has created a strong winningness among traders to sell. But their wiliness did not materialize due to the slow purchases. However, there is an apprehension of some demand improvement in the succeeding days Indian Bazaar : Customs Exchange Rate: On 3 March 2023, the GoI decreased the Customs Exchange Rate by 0.15 points to INR 83.50/USD for imports. Again, the purchasing mentality is expected to stay lethargic in the next week, mainly due to the festive mood associated with the Holi festival. An Open Bazaar: Engineering polymer processors adhered to the need-based R/M buying policy, creating a lacklustre atmosphere in the bazaars. In Mumbai, Delhi and Kolkata Bazaars, the basic prices for PC natural grade were quoted at around Rs 192-207/Kg, Rs 202-212/Kg and Rs 215-216/Kg, respectively. In Mumbai and Delhi, the prices of SAN grade were noted at around Rs 141/Kg and Rs 140/Kg respectively (Excl. GST). In Ahmedabad bazaar, basic price of PA6 of Domo have been quoted at Rs 220/Kg while in Mumbai, Delhi and Kolkata, it was reported at Rs 237/Kg and Rs 240/Kg for M28RC grade. In Delhi, Ahmedabad and Kolkata, prices of POM have been quoted at around Rs 190-210/Kg, Rs 190-200/Kg and Rs 200-210/Kg (Excl. GST) respectfully. Purchase Opinion : The pricing curve could head upwards in the medium term, when the summer season will set in, creating higher demand for the end-products. However, we do not suggest the processors to jump into R/M procurement immediately. Instead, we advise them to purchase R/M for their routine requirements, and gauge the bazaar movements. |
| Engg.Polymers -Weekly Report & Future Trend - Wk 3, February’23 |
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Feed stock Engg.Polymers : PC PC FeedStock : ( RMB/Mt) Benzene : 6950 Phenol : 8100 Acetone : 5550 Bisphenol A : 9750 PC Spot offers ( RMB/Mt) : Covestro 2805 : 17500 China Bazaar: PC: The PC bazaar atmosphere in China bore a dull look, with weak demand and ample availability. Given the current conditions, the PC bazaar in that country is expected to stay volatile. Indian Bazaar: Due to the need-based R/M procurement strategy of processors, the demand remained moderate. In Mumbai and Delhi Bazaars, the basic prices for PC natural grade were quoted at around Rs 192-210/Kg & Rs 202-212/Kg, respectively. Custom Exchange Rate: On 17 Feb 2023, the GoI raised the Customs Exchange Rate by 0.90 points to INR 83.65/USD for imports. Purchase Opinion: Looking at the current scenario, there is a likelihood of the prices to go up due to strengthening demand in the days ahead. So, buying is suggested at the current levels. |
| Engg.Polymers -Weekly Report & Future Trend - Wk 3, February’23 |
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Feed stock Engg.Polymers : PA6, PA66 Nylon 6 & 66 Feed Stock : ( RMB/Mt) Pure benzene : 6900 Cyclohexanone: 9200 Caprolactam : 13100 China Bazaar: PA6: The price of caprolactam has not changed much, and the cost support is limited. Aggregators are still adjusting ex-factory prices, and the downstream is still resistant to individual high-priced slices, and the overall market transaction remains low-priced supply. In the short term, the PA6 market will maintain a narrow range. PA66: The price of adipic acid is still lowered, and the support on the cost side continues to weaken. The supply of major domestic manufacturers is still relatively stable, the downstream demand is limited, and the overall market transaction is relatively poor. In the short term, the PA66 market is still dominated by a narrow range. Indian Bazaar: In Delhi Bazaars, the basic prices for PA66 & PA6 grade were quoted at around Rs 380/Kg and Rs 230/kg, respectively. Custom Exchange Rate: Pl .be informed that Indian Custom dept. has revised US$ -INR exchange rate. For Import of Goods 1$ = Rs.83.65 ( +0.90) For Export of Goods 1 $ = Rs.81.90 ( +0.85 ) Purchase Opinion: Loooking to current scenario, demand is likely to gain momentum in days ahead.Polymer buying is advised at current levels. |
| Engg.Polymers -Weekly Report & Future Trend - Wk 3, February’23 |
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Feed stock Engg. Polymers : POM POM Feed Stock : ( RMB/Mt) Methanol : 2520 China Bazaar: POM: There have been no changes in the spot POM prices in China bazaar. The availability continues to be tight, and the demand was weak. Indian Bazaar: Moderate demand prevailed in Indian bazaars as processors adhered to a need-based buying policy. In Mumbai, Delhi and Kolkata, prices of POM have been quoted at around Rs 180-210, Rs 190-210/Kg and Rs 195-210/Kg (Excl. GST), respectively. Customs Exchange Rate: On 17 Feb 2023, the GoI raised the Customs Exchange Rate by 0.90 points to INR 83.65/USD for imports. Purchase Opinion: Looking at the current scenario, and the price governing factors, buying is suggested at the current levels. |
| Engg.Polymers -Weekly Report & Future Trend - Wk 3, February’23 |
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Feed stock Engg.Polymers : PBT PBT Feed Stock : ( RMB/Mt) PTA: 5520 BDO: 14600 China Bazaar: PBT: Weak PBT demand was reported from the Chinese plastic R/M bazaars. As a result, the spot prices have remained flat. Indian Bazaar : Due to the prevalence of need-based purchases, moderate demand was observed in the Indian bazaars. Customs Exchange Rate: On 17 Feb 2023, the GoI raised the Customs Exchange Rate by 0.90 points to INR 83.65/USD for imports. Purchase Opinion : As the demand for the engineering polymer is expected to rise in the coming days, the prices are expected to go up. Therefore, buying is suggested at the current levels. |
| Engg.Polymers -Weekly Report & Future Trend - Wk 2, February’23 ( PC, SAN, POM, PBT, PA6, PA66) |
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China Bazaar : PC : The falling PC price trend is not likely to stop, given the weak demand condition in the major R/M bazaars of China. There was pessimistic sentiment spread everywhere in the bazaars. According to a source, PC spot prices have fallen to around 15,900 Yuan/MT. PA6 : Weak demand fundamentals have restricted PA6 prices in China from fluctuating. According to our assessment, need-based purchases have kept the demand from strengthening in the R/M bazaars. PA66 : There has been no active PA66 trading in the major plastic R/M bazaars in China. Downstream purchases were need-based, and the prices fluctuated a little. POM : POM sellers in China have seen weak sales, and the customers negotiated wisely before purchasing. Indian Bazaar : An Open Bazaar: The buying trend of Engeering Polymer has been moderate this week. Need based demand was observed in the local bazaars. In Mumbai and Delhi Bazaars, the basic prices for PC natural grade were quoted at around Rs 195-205/Kg & Rs 202-212/Kg, respectively. In Mumbai and Delhi, the prices of SAN grade were noted at around Rs 140-141/Kg respectively (Excl. GST) In Mumbai and Delhi, prices of POM have been quoted at around Rs 180-210/Kg (Excl. GST) respectfully. |
| Weekly Report -Engg.Polymers - Wk 4, Jan.’23 (Dt: 21/01/2023- Posting Cycle: Weekly, Saturday) |
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PC Feed Stock : ( RMB/Mt) Benzene : 6950 Phenol : 7600 Acetone : 4850 Bisphenol A : 10100 Nylon 6 & 66 Feed Stock : ( RMB/Mt) Pure benzene : 6900 Cyclohexanone: 9100 Caprolactam : 12050 POM Feed Stock : ( RMB/Mt) Methanol : 2700 INDIA : Engineering polymers were sold actively in the R/M bazaars this week. Due to satisfactory end-product sales, the processors have procured the R/M in an aggressive mode to feed their factories, and also build up their inventories. Pricing Status In Mumbai and Delhi, the spot prices for PC natural grade were quoted at Rs 200-212/Kg & Rs 200-215/Kg, respectively. While, the open bazaar prices for SAN were at Rs 131-132/Kg and Rs 133-134/Kg respectively (Excl. GST). In the bazaars, the respective POM prices hovered at Rs 180-210/Kg, and prices of PBT natural was quoted at Rs 180/Kg (Excl. GST). PURCHASE OPINION : Given the indications reflecting from R/M bazaars, there is a likelihood of the prices going up in the succeeding days. Therefore, buying is advised at the current levels. |
| Weekly Report -Engg.Polymers - Wk 2, Jan.’23. (Dt: 07/01/2023- Posting Cycle: Weekly, Saturday) |
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PC Feed Stock: ( RMB/Mt) Benzene : 6700 Phenol : 7400 Acetone : 4800 Bisphenol A : 10100 Nylon 6 & 66 Feed Stock : ( RMB/Mt) Pure benzene : 6700 Cyclohexanone: 8800 caprolactam : 11500 POM Feed Stock: ( RMB/Mt) Methanol : 2400 China Bazaar : PC: Unstable PC bazaar conditions were reported from China. And, the participants expected the stability to return by the next week. In the pricing front, PC was sold at around 16,630 Yuan/MT. PA6 :There was an air of optimism in the PA6 bazaars in China. Traders saw good demand, and they expected it to rise further. PA66: Need based purchases have kept PA66 demand moderate in the major plastic raw material bazaars of China. However, there was an expectation of demand revival. POM: Due to weak demand conditions, POM prices stayed almost stable. The dullness in demand has resulted from the wait-and-watch mode adopted by buyers. Indian Bazaar : Buying Pulse :Active purchases have kept the demand for engineering polymers on an aggressive note. In Mumbai and Delhi Bazaars, the basic prices for PC natural grade were quoted at around Rs 207-210/Kg & Rs 210-214/Kg, respectively. In Mumbai and Delhi, the prices of SAN grade were noted at around Rs 129-130/Kg and Rs 133-134/Kg respectively (Excl. GST). In Mumbai and Delhi, prices of POM were quoted at around Rs 190-200/Kg, and prices of PBT natural were quoted at Rs 170/Kg respectively (Excl. GST). |