| EVA : Weekly Report & Future Trend - 1st Wk, Jan'22: (Dt: 31/12/2022- Posting Cycle : Weekly, Saturday) |
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Feedstock offer
Ethylene CFR SEA: $ 925/Mt Vinyl Acetate : RMB 7800/Mt Indian Bazaar: Import Offers: For January, 2023 shipment.offers assessed higher at US$ 1850/Mt Buying pulse : Demand for EVA has been reported steady in Indian bazaar, but spot prices have been at higher rates amid pessimistic demand sentiment. As per input received from bazaar, EVA stockiest has encountered delay in receiving fresh import cargoes. Speaking with a few EVA processors, we elicited that they were encountering the challenge of low end-product off-takes. So, they curtailed their production volumes, hence EVA purchases. In Mumbai and Delhi bazaar, we assessed open bazaar prices of EVA 18 % to be in the range of Rs 188-190/Kg and Rs 185-186/Kg respectively (Excl. GST). Purchase Opinion:Given the ruling price governing factors, expected bazaar movement in the coming days, and the overall current scenario,buying is suggested at current levels. |
| EVA : Weekly Report & Future Trend - 4th Wk, Dec'22: (Dt: 24/12/2022- Posting Cycle : Weekly, Saturday) |
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Ethylene Monomer : USA : Cents/lb 20.75 FD GC ( Stable ) Europe : €/Mt 805 - FD NWE ( Stable ) 830 - CIF NWE ( Stable ) Asia- USD/MT: 875 : CFR NEA ( Stable ) 915 : FOB SEA ( Down ) Vinyl Acetate: SnapShots • 7,500 Yuan/MT [Sinopec Jiangsu Sales Branch Ningxia ,Nenghua] • 7,900 Yuan/MT [Chuanwei & Shanghai Petrochemical Factory] Indian Bazaar: Import Offers : Sipchem have released their fresh EVA offers, at USD 1580/MT, CIF Nhava Sheva and Mundra Port, on LC 90 days basis for January, 2023 shipment. Open Bazaar : Low end-product off-take has constrained processors to cut-down their r/m purchases. So, the bazaar atmosphere was sluggish. And, there was almost no movements in the spot prices. In Delhi and Mumbai bazaar, we assessed open bazaar prices of EVA 18 % to be in the range of Rs 167-168/Kg and Rs 179-180/Kg respectively (Excl. GST) Purchase Opinion :Considering recent outlook & global price Refrence may lead price correction In commodity. Polymer buying is advised for immediate requirement. |
| EVA : Weekly Report & Future Trend - 3rd Wk, Dec'22: |
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Ethylene Monomer : USA : Cents/lb 21.25-21.75 FD GC ( Up ) Europe : €/Mt 860 - FD NWE ( Down ) 830 - CIF NWE ( Down ) Asia- USD/MT: 885 : CFR NEA ( Down ) 925 : FOB SEA ( Stable ) Vinyl Acetate : SnapShots • 7,500 Yuan/MT [Sinopec Jiangsu Sales Branch Ningxia ,Nenghua] • 7,900 Yuan/MT [Chuanwei & Shanghai Petrochemical Factory] Indian Bazaar : Import Offers : Formosa, Lotte Chemical and Hanwha have released their fresh EVA offers respectively at USD 1620/MT, USD 1690/MT and USD 1730/MT, CIF Nhava Sheva and Mundra Port, on LC 90 days basis for January, 2023 shipment. Open Bazaar Status: Demand has not yet picked up as the processors have curtailed r/m purchases due to weak end product sales. International exporters were in a mood to lower their export offers to India due to weak demand conditions. If the hearsay is to be believed, there are chances of the upcoming EVA offers sinking to around USD 1500/MT CIF Mundra due to sluggish conditions. In Delhi and Ludhiana bazaar, we assessed open bazaar prices of EVA 18 % to be in the range of Rs 168-170/Kg and Rs 150-155/Kg respectively (Excl. GST). Purchase Opinion : Given the uncertainty in the pricing front, buying is suggested for immediate requirements only. |
| EVA: Weekly Report & Future Trend - 2nd Wk, Dec'22: |
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Ethylene Monomer : USA : 27.75-28 Cents/lb Europe : €/Mt 850 - FD NWE ( Down ) 870 - CIF NWE ( Stable ) Asia- USD/MT: 895 : CFR NEA ( Up ) 925 : FOB SEA( Up ) China : After the govt easing COVID curbs, the EVA processor community has decided to wait and watch the bazaar movements before plunging into buying activity. So, prevalence of weak demand is seen in the plastic raw material bazaars of that country. Therefore, international producers have lowered their offers to China. According to the information received, Hanwha has offered EVA 28% at USD1600 CIF, LC 90 days Indian Bazaar : Weak demand has prevailed in Indian bazaars due to processors cutting down their raw material purchases. An EVA converter, while speaking with one of our editorial team members, disclosed that unsatisfactory off-take of the finished products has instilled a gloomy mindset among processors, restricting them from purchasing EVA any quantity beyond their routine requirements. Moreover, he expressed his apprehension regarding international exporters likely to lower their EVA offers to India to below USD 1500/MT CIF Mundra due to sluggish conditions. Import Offers : Taiwanese major FPC has announced fresh offer of EVA (7350M) at US$ 1620/MT for January’23 shipment on CIF NhavaSeva/Mundra port basis. An Open Bazaar : Moderate demand conditions for EVA have persisted in Indian bazaars, As per an importer cum trader, it was due to the international bazaar effect. The falling prices in the key international bazaars have incited Indian buyers to wait and watch the bazaar developments for the time being. In Delhi, we assessed open bazaar prices of EVA 18 % to be in the range of Rs 168-170/Kg respectively (Excl. GST). Purchase Opinion : Given the reversal in the global bazaars, the prices in India have come into an uncertain periphery. Therefore, the processors should pay extra attention and exercise extreme caution in EVA procurement at current price levels. If demand weakens further, the open bazaar prices could come further down. In view of the hazy outlook, we advise buyers to procure the polymer for their routine consumption only. |