Mass Decrease in Base Prices of Polymeric Materials Affected by Global Prices

New prices for petrochemicals were announced on Sunday, November 10, 2019, and polymer prices were down as compared to previous weeks. The PDID office announcement says so.

According to PIMI reporters, this week the average price of the official US$ value at NIMA system reached to Rls 106.263  recording a 0.03% decrease in comparison with that of last week. This drop in the price of US$ could be ignored, and in the analysis of the base prices for this week it seems that the collective decline in this week’s base prices of polymers for trade volumes at the IME hall was only affected by world prices.

Basically, whenever one of the two factors of the price discovery formula remains stable, the other factor plays a crucial role in determining base rates. When this week’s NIMA was reduced by only Rls. 34 compared to last week, it was virtually the global price changes that set the base price for the Iranian polymer market. As a result, this week’s lows in the US$ had no effect on prices, and it was only the decline in global prices for polymers that played a role in setting new base prices. Here’s a look at the new base price changes

The highest decreased in prices were registered for the following polymers:

1- Textile grade of PP with 2.2% reaching to Rls. 94.855;

2- Other grades of PP with 1.9% reaching to Rls. 108.737

3- ABS with 1.16% reaching to Rls. 128.508

4- EPS with 1.00% reaching to Rls. 108.296

5- LLDPE with 0.85%, HDPE film grade with 0.7% and HDPE injection and rotational grades with 0.6% were at the next rows.

This analysis has ignored to publish the weekly price table for the free market. This is due to the fact that during last week (Sun. Nov. 3rd – Sat. Nov. 9th) there were several holdays in Iran and the prices in free market were not too much accountable.

However, The following table shows the weekly trading figures including ODTv index for the week between Sun. Nov. 3rd., till Sat. Nov. 9th.