Last week (Oct. 6-13th, 2018) the trade volume of polymers dropped with a sharp decline in demand that was one of the most important news for the market last week’s polymer market of Iran. This analysis together with weekly trade volume and prices, covers the story.

According to the Plastics Industry Magazine (PIME) the market for polymers is slowly running, though, many market players are hoping to lower prices. Along with these hopes, the willingness of a number of converting companies to buy less materials has led to lower demands in front of supplies. Eventually, this signal itself manifests as an important speed bump against rising prices.

Demand reduction for polymers is not seen only in the free market, but the stock market statistics also show a drop in official demand, to the point where we saw a 24% drop in demand in the mainstream commodity market.
This means that the volume of demand has reached to 106,000 tons, which is one of the lowest figures in this year. This important signal can not be ignored because it shows that mediation and speculation are minimized and the true market is preparing for fundamental strengthening. Improving transportation conditions, along with concerns about further price reductions and, of course, fluctuations in exchange rates are considered to be important for market players.

According to the report, last week, the stock trading volumes were relatively slow, with small changes in total trading since its previous week. While the market still needs more supplies, the supply of about 65,000 tons does not eliminate the market needs.

For the last week, the demand to supply ratio was 1.6 tons, suggesting that demands are accumulated in attractive and limited supplied grades.

Trade volume table:

Due to a new decision by the IMT ministry, there will be no more base price definition on the US$ FOREX value by the PDID office of NPC. Since a month ago the base prices are determined on the basis of the average closed prices of each Material/Grade sold at the IME hall of Tehran Stock Exchange, during its last 4 weeks.

In this regard PIMI has decided to publish the weekly trade volume, mean value price and the closed price. The following table is the first from this week.

Weekly polymer trade volume and prices at the Iranian polymer market. (Sat. Oct. 6- Sat. Oct. 13th, 2018)

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