All Prices Down At The First Working Week of The Iranian New Year

The statistical figures gathered from different sources, show that the Iranian plastics industries have been deeply affected by the mandatory rules that the Government issued temporarily in order to control the transfer chain of the COVID-19 virus.

At the same situation and for the first time in the history of the Iranian plastics industries with relevance to the booming market at the end of the year, almost all sectors of the industry faced with a very complicated situation and downward trading and production. For example, the demands in comparison with two weeks before the new year (Click Here) dropped dramatically from about 103.954 tons (Feb.29th-March 5th) and 86399 tons (March 7th-12th) to almost one third (same reference) and reached to only 36.398 tons for the next week (March 14th-18th).

The very amazing event was that, some sectors of the industry which were able to produce some vital needs of the suddenly raised crisis (pandemic of coronavirus) like bottles for alcohol and sanitizers, also face masks, part of the N5 air-filters, gloves and so on, preffered to keep their factories closed.

Having no special plan, the Government of Iran made the people confused and so each person / family decided for itself to keep away from the COVID-19. As a result and as far as the end of the year, also the beginning of the year, that both trading volume and ODTv indexes are concerned, the figures went down dramatically.

Before analyzing the new prices announce at the first week of the Iranian New Year, we may invite our readers to have a look at the figures in table I for the ODTv data related to the before and after the new year’s materials transactions.

Table I: Comparison of trading figures between last two trading periods:

Now, having a look at the new prices announced on Sat. March 28th. the PDID Office of NPC announced the first set of the new base prices of polymers. These prices under the affect of global decreasing in Oil prices were all the way decreasing.  If the condition was normal, this would have been the best opportunity for the converting factories, but the fact is that most plastics converting companies were closed due to safety and hygienic measures and also Government’s rules to stop the transfer chain of the COVID-19. Table II shows the new prices which practically were useless except for market manipulators. The rices have been calculated on the NIMA official rate of Rls. 136.292 which was Rls. 1.075 higher than the last price definitions ((Click Here)

Table II: The polymers base prices for the two periods of before and after the Iranian New Year.

Because of the complicated situation before and after the new year, many statistics are observed after several times of checks. However, for this article it would be better to look at it suspiciously. Having a look at the table IV shows that the number of bids have been higher than several months before. We have had 241 successful trading at the IME petrochemical hall from the total number of 291 bids from March 19th till March 28th, which is a high number at that COVID-19 pandemic. However picking up the 5 bids done at one time shows another fact. Let’s have a look at table III below which shows the first 5 tradings at 1 bid:

Table III

Finally, table IV shows the total trading and other relevant figures for the above period (March 19th-28th)