Decline in US$ Value And Global Market Resulted in Lower Base Prices

The decline in the US$ value and the drop in the average world prices, especially the downturn in the GCC polymers market, led to a decline in the base prices of polymers for the 2nd consecutive week.

Today, Sun. Aug. 4h, like every other Sundays the PDID Office of NPC announced the new polymer base prices considering Rls. 803 decreasing in official US$ value in Iran “NIMA” system as the basis for pricing formulations. Beside declining in US$, the global price declining resulted in decreasing the announced prices for the 2nd consecutive week.
On this basis the market monitors are optimistic in a raise of trade volumes over 50,000 tons and the market passes from a serious recession. If this happens, it is for the 3rd week that the trade volumes are in the increasing trend.
Though the condition is optimistic but one should not expect a miracle. These set of factors heralds a breakthrough in the Iranian polymer market, which is well a long time ahead of the recession and enters the boom phase. Today the dollar value went about 0.7%s and resulted in decreasing the base prices for several materials.
To show the changes in up or down in prices, we have published the free market prices in 3 colours. Black for those that their price remained constant, green for those in downturn and red for increase prices in the free market.

The price upwards:

Unlike last week when no commodities were up, this week three commodities faced a price increase. The reason was the rising global price of these materials. However, the average world prices of these three materials experienced growth in world markets more than the percentages raised in the Iranian market, but the decline in the official value of US$ by 0.7% caused a slight increase in the price of these materials in the Iranian market (except for one commodity).
The highest increase in base price for this week recorded for PBR, which 1.2% in comparison with last week and its price reached to Rs. 141,940. The other two commodities rising this week were bright and dark SBR.

The last article about the Iran polymer market: As Summer Gets More Hot The Polymer Prices Also Get Burning Converters

The following prices are the free market prices after today’s base price announcement. The green shows decreased prices and the red the increased ones. While, the black figure is showing the prices that remained constant.

The following table shows the deals in IME market for the week July 28th- Aug. 3rd, 2019