US$ Value Increase Simultaneous With PCC Managers Trial Depressed The Material Market

Today, Sunday, March 10th, 2019, for the last time in this year, the “Petrochemical Downstream Industries Development” (PDID) Office of NPC announced the new base prices for polymers and other petrochemical materials. Here’s a look at the new prices and their changes over the past week.

According to the PIM, the exchange value of the rose once again by Rials 1,920 in comparison with last week (Click Here) and reached to Rials 89.270, resulting in another consecutive increase in the polymer materials.
Some commodities in less, and some in more, were affected by the new prices also because of a global raise in some commodity prices. Highest price increases:
The injection grade of HDPE by 4.5% increase of the base price was at the top of the most expensive weekly prices. The price of this commodity reached to Rials 79,837/ Kg., with an increase of Rls. 3,440 in comparison with last week. The second higher priced commodity was SBR 1502, with up to 4% from its base price last week. The new price of this material recorded as Rls. 117,954/ Kg.,
The third place of the highest growth in base prices, came in common to two products; The extrusion grade of HDPE (PE100, and; The film grade of LLDPE. Both materials’ prices rose by 3.8%. (Please note to the following table).
The other materials at the incremental side include;
HDPE film grade by 3.6%;
Different grades of PET for bottles with 3.2%;
Fibre grade of PP by 3.1%;
Injection grade of PP by 3.1%;
HIPS 7240 with 3%.

All these increased prices together with the start up of the PCC managers court for corruption (Click Here) has mainly resulted in the lowering the number of participating at the IME hall. During the last week, only 142 times was the number that recorded for the number of participation of brokers in the bids for polymer purchasing.

The following table shows the total trade volume for last week (March 2nd. – March 8th.) at the IME hall in 144 times of deals. All prices are in Iranian Rials based on the US$ value 1 US$= 89,270.