Jumping Polymer Prices Due Only Because of US$ Value in Iran

Today, Sunday, April 28th, 2019, the PDID Office of NPC announced a new weekly base price for polymers and other petrochemical products after a week-long interruption.

Considering the 3.8% increase in the base rate of US$ for calculating and discovering the prices, all of the polymer goods were exposed collectively and relatively to high increases. According to the PIM website, today the base prices of polymer materials were underpinned by a 3.8% increase due to increase in US$ value in the official markets.
Meanwhile, the highest increase was recorded for the film grades of PE by 4.3%. This commodity experienced an increase of Rials 3.675 / Kg. compared to its past two weeks’ base price. After it several materials faced with a 3.8% increase over the last past two weeks, coincided with the second-highest price growth.
These polymeric materials include PE 80 and PE 100 for extrusion, HDPE Blowing, HDPE for Rotational moulding and PP grades.
The interesting point about the aforementioned goods is that their global prices appear not to have had much effect on price changes or their increase, and these prices were on the rise only as the dollar base value has gone up.
The third largest increase in the base price, up 3.5% from the previous week, was attributed to the EPS. Expanded polystyrene 200, 300 and 400 with 3.5% / Kg. recorded about Rials 3.620 to 3.730 price rise depending on each grade.
On the other hand, the least increase was achieved by 2% to HIPS 7240. Meanwhile, this 2% increase led to a price increase of about Rls. 2.240 / Kg. for this commodity.
After HIPS 7240, two PET grades of 821 and 781 for bottles recorded the lowest base price growth, and thus the grades 821, 260 and 781 were faced with only Rls. 2.510. Other polymer materials also experienced growth of 2.3 to 3.1%.
All in all, this week, prices were more than anything else influenced by the dramatic increase in the US$ base value as the main basis of calculations and the discovery of the prices.
Given the upcoming holly month of Ramadan, as well as the full availability of free market suppliers’ warehouses, it should be seen that how much competitive could be expected between market manipulators in the coming days {Monday and Tuesday, especially when the supplying volume will be announced by BEHIYB website}. It seems that this week, according to all directions, except for some special grades such as PP and HDPE grades that always have high competition due to lack of supply {also PS due to a high volume increase for production of disposables in Ramadan}, the observers may see competitions with less intensity, and the stock market in Iran may have more relaxed days ahead. Although this is only a hypothesis.
All in All after the new Iranian year, the number of purchasing registration at IME has decreased considerably. Meaning a depressing start after the new year.

Like other Saturdays (even it is the first day of working week) the number (13 times) and the total trading volume of polymer materials (1153.28 tons) were low. due to waiting for new prices. HDPE, PC and SBR were the most impressive materials for Saturday April 27th. (watch the next table for Saturday).

The Tables I and II (below) shows last two weeks’ ODTv tables.

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Table I Below: Trade volumes, ODTv table and Min. / Max. prices for April 20th – 27th., 2019

Table II Bottom: Trade volumes, ODTv table and new base prices for April 13th-April 19th, 2019

The following table (Table I) shows the total trade figures of polymers for the last week (April 20th – 27th. at the closing time) at the IME hall in 126 times of deals (6 times more than last week- Table II below). The prices are in Iranian Rials based on the US$ value of 1 US$= Rials 89.579, which is Rls. 1.083 less than the last price evaluation of the 2nd week of 1398 (April 7th- April 28th. at 11:00)

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The following table (Table II) shows the total trade figures of polymers for the last week (April 13th – 19th) at the IME hall in 116 times of deals (6 times less than last week). All prices are the same as previous week due to the great holiday of today April 21st. in Iran. The prices are in Iranian Rials based on the US$ value of 1 US$= Rials 89.579, which is Rls. 1.083 less than the last price evaluation of the 2nd week of 1398 (March 30th- April 5th.)