Market Improvement, Increasing Supplies and Trade Volume after Eid-al-Fatir

By the end of Ramadan and two days celebrations of the Muslim’s Eida-al-Fatir, the trade hall of the IME witnessed a boom in the Iranian polymer market. Coincided with the first week of July, the 2nd week of the Iranian 4th calendar month (Tir Maah) experienced a considerable market improvement, even simultaneous with the increased base prices determined by the polymer price committee.

Market Improvement, Increasing Supplies and Trade Volume

During last week, the offered volumes by the petrochemical companies increased after two consecutive decline in supplies and experienced a total of 8.382 tons of increasing in offers for diverse grades of polymers. The market touched the 70.000 tons of offered borders, which was a wise decision for keeping the trade balance and preventing of the black markets.

It is noticeable that the true possible offers by petrochemical industries could have been much more that what was supplied during the last week (Table 1), however, since the policy of the PC complexes is to offer the volumes near to the market demand, so they are trying not to offer a supply more than what seems to be traded at the IME hall.

Table 1: Comparison table for: June 25^th – July 2nd  (2 weeks ago) and July 2^nd – 9^th 2017 (last week)

US$ for calculation of the base price for deals at IME: For 2 weeks ago, 1US$= 37.541 Rials which shows about 288 Rials in comparison with the latest base price. Based on this base price the committee decided to keep all prices constant till after the first two weeks of the 4^th month of the Iranian Calendar (22.06.2017-7.07.2017). The price of 1US$ at the free market on 02.07.2017 was 37.880 Rials which had 230 Rials increase in comparison with the last week’s prices.

The following chart, also, shows the market situation in the last two weeks of the Iranian polymer market.

During the last week, also, the trade volumes of the materials increased by more than 15.000 tons again after two consecutive weeks of market decline. The amount of increase in trade volumes is also considerable, and one could say that, only after the 2nd week of May 2017, it has been a record for the weekly trading of polymers at IME.

To view details of the last two weeks’ of the Iranian polymer market and the prices you can refer to the table 2 below:

Table 2: Materials Statistics Between June 25^th -July 2^nd 2017 (2 weeks ago) and July 2nd -July 9^th 2017 (last week)

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