Indian Polymer Open Market Price Updates

Date – 06/02/2023 The recent recovery in the oil industry can be attributed to two major factors. Firstly, Beijing has relaxed its stringent Covid-19 guidelines by easing testing requirements and travel restrictions. This has allowed individuals with mild or no symptoms of Covid-19 to isolate at home instead of undergoing treatment in central facilities. Secondly, the International Energy Agency (IEA) has revised its forecast for oil demand growth for both the current year and the next, as a result of the surprising increase in oil consumption in China, India, and the Middle East in recent weeks. Both the factors caused the oil prices to inflate in Mid-December and it’s still going in an upward trend. As the cost of crude oil rose, it led to a concomitant increase in the price of polymers, which are derived as a byproduct from petroleum. However, despite the general consensus that the prices of crude oil will continue to escalate, there exists a divergent perspective regarding the price trend of polymers. The polymer-centric outlook predicts a downward trend in the cost of polymers, divergent from the upward trajectory that has been widely anticipated. Polypropylene (PP) Rafia is currently priced at an average of 103-104 per kilogram. Meanwhile, high-density polyethylene (HDPE) BM is priced at an average of 112-113 per kilogram. The cost of low-density polyethylene (LDPE) film has also increased, averaging 115-116 per kilogram. The price of linear low-density polyethylene (LLDPE) film has also gone up, with an average price of 110-111 per kilogram. Lastly, polyvinyl chloride (PVC) is currently priced at an average of 102-103 per kilogram. Note – Every photo is symbolic (Photo Source: Google) All news and stories given on this website are reported by the reporter or taken from some source. Our endeavor is and will continue to provide you with the best information. The responsibility of this news and other things will be with the author (reporter) and the source.