- PVC and selected PP grades rise across domestic markets
- Hormuz shipping disruptions heighten feedstock supply concerns
India’s domestic polymer market recorded selective price increases on 14 October. Polypropylene (PP) copolymer prices in Mumbai rose by INR 1.50/kg to INR 162/kg, while PP injection increased by INR 0.5/kg to INR 152.5/kg in Ahmedabad. Low-density polyethylene (LDPE) film prices in Delhi rose by INR 1/kg to INR 174/kg. Polyvinyl chloride (PVC) prices also increased across markets.
Upstream markets strengthened, with Brent crude rising 0.76% to $106.48/barrel and West Texas Intermediate (WTI) gaining 0.75% to $95.47/barrel. Naphtha declined 0.61% to $1,007/t, while natural gas fell 0.22% to $3.27/MMBtu. The Indian rupee strengthened 0.13% against the US dollar to INR 95.13.
At CFR Mundra, PVC import prices increased 1.7% to $880/t. Import prices remained unchanged for HDPE blow moulding at $1,310/t, LLDPE film at $1,320/t, LDPE film at $1,535/t and PP injection at $1,385/t.
Domestic market overview
Domestic polymer prices showed selective increases across PP, LDPE and PVC grades. PVC prices rose to INR 101/kg in Mumbai and Delhi and INR 100/kg in Ahmedabad. PP injection prices declined by 0.70% to INR 151/kg in Mumbai but increased by 0.60% to INR 152.50/kg in Ahmedabad, while Delhi prices remained unchanged at INR 157/kg.
LDPE film prices increased by INR 1/kg to INR 174/kg in Delhi, while prices in Mumbai and Ahmedabad remained stable at INR 163.50/kg and INR 169/kg, respectively. High-density polyethylene (HDPE) blow moulding and linear low-density polyethylene (LLDPE) film prices remained unchanged across all three markets.
Other updates
Crude oil rises as Saudi attacks heighten supply concerns
Brent crude futures approached $107/barrel in early Asian trading on 14 October following Houthi attacks that heightened concerns over Saudi energy infrastructure and regional supply security. An administrative building owned by Saudi Aramco in Dhahran was reportedly targeted, adding to concerns over potential disruption to Middle Eastern oil flows. WTI also climbed above $95/barrel, strengthening the upstream cost outlook for petrochemical producers.
Strait of Hormuz shipping slows after tanker attacks
Commodity vessel traffic through the Strait of Hormuz slowed sharply over the weekend amid tanker attacks and stalled US-Iran negotiations. Data showed five commodity vessels transited the strait on Saturday, while none were recorded on Sunday, compared with 31 during the previous weekend. Continued disruption could increase freight costs and uncertainty over crude and petrochemical feedstock availability for Indian importers.
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