The PDID Office of NPC, which is in charge of announcing the new base prices of polymer and chemical materials in the Iranian market, announced today, Sun. April 19th, the new base prices of these materials for the current week.

The announced prices will be the basis for trading polymers and chemicals in the Iran Commodity Exchange Petrochemical Products Hall (IME) for a week.
For this week, both the average official NIMA value of US$ raised to Rls. 138.036 which is about Rls. 1.702 (about 1.25%) higher than previous week (Click Here). Though it has not affected the PVC group that are still declining. As a result, significant growth or mutations are expected in the new base and free market prices of polymeric and chemical materials.

Market Situation in Iran:

The volume of polymer trading on the IME petrochemical hall increased last week, and market analyzers saw a jump in the volume of transactions and the exit of polymers from the foggy market.
It was as if the foggy atmosphere of the market was to be broken, even in a situation where we were witnessing rising exchange rates in the open market.
However, during last week the price index of the polymers in Iran with a 0.81% drop reached to Rls. 98.960 which was the lowest since 1st Jan. 2020. which shows that the general flow of prices in commodity exchange’s transactions was relatively low. Although, over the time the nature of the growth of trading volumes has its an impact on the market and prices.
Meanwhile, the official value of the FOREX in the previous base prices had fallen by 1.91% in average, which was a double incentive to reduce the base prices.
Of course, as far as the base rates are concerned the fall in the official value of the currency, as well as the decrease in world prices, we saw a widespread and relatively wide decline in prices.
Furthermore, during the past week, we have seen competition in many polymer grades, with price output rising, although the free market situation has not been unaffected by price fluctuations.
More precisely, the growth of prices in the open market, along with the creation of a space for more purchases in the commodity exchange, in a situation where fear of growth in world prices with the help of crude oil price fluctuations have been considered as effective elements over the price increases for this week. Table I shows the new prices for this week.

Table I: The polymers base prices for this and last weeks

As could be seen above, although the US$ value change was about + 1.25% but the pricing committee has changed prices from 12.15% increase up to 0.07%. This means that the PDID Office and the pricing committee might be under the influence of the brokers and the only thing that they don’t think about it is the availability of cheap materials for true converters at this great pandemic.

During last week a total number of 206 tenders were organized at the IME Hall for polymers out of which only 175 were successful which can be considered as a good figure after months. It is well seen at the table II that whereas the amount of supply volume has increased near 13.000 tons on April 15th., but the demand volume has increased by 2.3 times (almost 232%) which is kind of a record breaking after years. At the same time the amount of trade volume has increased only about 100%. These figures show a total confusion in the market.

Another moment is that during the last week’s trading, once again the amount of one time purchase at one bid increased for many polymers and for some polymer became almost doubled. Table III show the first 5 polymers in the top ranking of trading volumes.

Table III: The first 5 polymer types that purchased at once in one bid.

The last market analysis article published at “Polymer Industry Media International” was: Considerable Polymer Price Decrease In Iran While Trade Volume Is Up