Further Declining In Polymer Prices May Result In Increasing Trade Volume

Today on Aug. 11th the PDID office announced the new base prices for polymers. As it was foreseen by PIMI (Click Here) the prices were downward for the 3rd consecutive week. Declining of prices was at a level that we haven’t seen it for last 4-5 months. So, if there will be enough supply for this week, may be after several weeks we could see a trade volume passing over 50kt.

Today the official value of US$ faced only with 0.1% increase and such a very small increase couldn’t have any noticeable effect over the new prices. So the prices went down the hill.
Market declining trend
The base prices of most commodities decreased, and both fibre and bottle grades of PET experience the highest price decline.
1- The fibre grade of PET with 5.3% decrease became cheaper for Rials 5,760. The other decreasing prices were;
2- PET bottle grade with 4% decrease went down in base price by Rls. 5,000;
3- Grades PE 80 and PE 100 of HDPE with 2.7% decrease;
4- HIPS followed the global trend and recorded 2.5% decrease and its official price reached to Rials. 126,553;

5- GPPS with 1.9%, LDPE film grade with 1.7%, HDPE rotational and film grades with 1.6% and LLDPE and EPS with 1.2% decrease in base prices were the other materials with decreased rices.
Though, this week’s prices were in downturn trend but some materials like PVC groups, PP and PBR experienced a very low incremental trend.

The following table shows the last week’s (Sun. 4th- Sat. 10th Aug., 2019) trade volumes, ODTv figures and minimum and maximum prices for the total number of 186 purchasing bids at IME petrochemical hall.