Polymer Material Prices All Fell Down Regarding Falling Official US$ Value

The PDID office of NPC announced the new base prices for polymer and chemicals on Sun. Oct 20th, 2019.

Regarding the PDID‘s office practice, in the weeks having a holiday on Saturdays or Sundays, only changes in the official US$ value and its trend affect the price discovery formula, and the global changes in the polymer prices doesn’t affect price definitions. These prices, as have been observed many times since establishment of the price committee at PDID office do not affect the price definitions an declarations.
On this basis, since the US dollar’s FOREX rate of discovery and calculation declined by 0.44% (or Rls. 473) in comparison with the previous week, so did the base prices.
Given the generally declining trend of global markets, even if the global prices were included in the formula, prices would have still been fall further. These prices will be the official basis on trading at the IME‘s petrochemical hall for one week.
Regarding the fact that next week’s Sunday is another official and important religious holiday, so we expect that at the first hand, the prices to be announced on Saturday and at the other hand, as like as this week, the only factor involved in pricing polymer and chemicals, would be the official US$ value in the “NIMA” system.
Since the only factor affecting today’s official base prices was the US$ value, so, all polymers have declined 0.44% in their weekly base price. This results in lack of any weekly analysis for today’s price change, except noting that, unlike all other polymers, only the HIPS material fell by 0.9%.
The reason is that the PDID office has the right and permission to declare prices up to 0.5 percent lower or higher on its own discretion, and so this week, because of the sharp decline in the price of styrene monomer, the price of HIPS fell by 0.9%.

Regarding the free market’s price changes, the following table (the table for comparison of free market prices on Saturday’s that are one day ahead of the next day’s price announcements) it is noticeable that this article’s free market price comparisons belongs to last Saturday Oct. 15th and that of Today’s Oct. 20th. The reason is yesterday’s religious holiday in Iran.

The highlighted points about last week’s trading volumes are:

1- The total number of registered deals were 195 bids;

2- The total number failed (unsuccessful bids) were 26 bids;

3- The highest number of bids recorded for PP (42 time), HDPE (32 times), PET (16 times) and LDPE (15 times);

4- The highest one time bid recorded for LLDPE of Amir-Kabir PC complex by 3.102 tons at one deal, the next rankings recorded for suspension PVC of Arvand PC complex and HDPE of Jam PC complex by 2000 tons in one deal only;

5- The lowest one time bid recorded for the Epoxy Resin of Khoosestan PC complex by only 5 tons;

The following prices are the free market prices on Sun. Oct. 20th., (3 hours after today’s new base price announcement). The GREEN figures show decreased prices, the RED the increased ones. While, the BLACK figure is showing the prices that remained constant, all in comparison with last Sat. Oct. 12th.

The following table shows the weekly trading figures including ODTv index for the week between Sun. Oct. 13th., till Sat. Oct. 19th., 2019.