The volume of trading in the Petrochemical Forum of IME reached its lowest level since the beginning of the year.
Reducing trading volumes on stock exchanges and dropping the price index of polymers in consumer market itself reflects a situation that could be seen as a recession in the market, the petrochemical industry and in the phase of its complementary industry.
This is while, last week, the free market prices were in a relative upward trend, to the point where it can be said that after 5-weeks of low prices, last 10-days growth has been a limiting and fragile guest of the market. The relative decline of the global prices, coupled with falling US$ prices in the free market and, of course, rising the same US$ prices in the officially manipulated website (NIMA), coupled with serious weaknesses in demand, have been the factors that has so far played a role in this market.
Fluctuation of the index of the polymer prices
The price index of polymers did not change much last week, but given the drop in appealing supply, we saw a decline in demand and a drop in competition, which ultimately led to a drop in the price index in this market. More precisely, last week, the price index of polymers dropped by 1.35% to Rls. 89.960, reflecting a limited price change. Of course, in the last week’s free market, we saw a limited increase in prices, which, at the first glance is not consistent with the IME data and so should be analyzed further.
Reduction of the turnover of polymers in stock exchanges is an important factor for not boosting trade in this commodity group, and statistics are indicative of the general weakness of supply and demand. Last week, 53,394 tons of polymers supplied in the physical market, with a demand of 49,650 tons to buy this volume, and for the third consecutive week the volume of demand was lower than the supply. The same thing is simply a sign of stagnation, although supply volumes dropped by 21% over the same period last week. On the other hand, the volume of trade in polymers on the stock exchange has fallen sharply and has reached near 38000 tons, which is the smallest volume of trading since the early holidays of this year. Almost all of the data on the transactions of polymers are negative on the stock exchange, and this public situation itself is clearly a portrait of stagnation.
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