Demand pressure impacts Petchem prices

Naphtha prices rise in tandem with crude prices: A gain in oil prices led to a 2.5% MoM increase in naphtha prices to USD 415 per ton. Naphtha prices rose in tandem with oil prices, which surged 2.5% MoM (Brent).

PE derivative price continues to fall despite high naphtha prices: Although naphtha prices rose over the past couple of months, the prices of PE derivatives declined. The drop was primarily due to lower demand. LDPE prices fell the most (3.8% MoM), followed by HDPE (down 2.2% MoM) and LLDPE (down 1.3% MoM).

PP and PS prices sharply decrease: PP prices fell 7.5% MoM due to declining imports from China, as it is increasingly becoming selfsufficient. Moreover, PS prices dropped 6.4% MoM, lower than the fall in feedstock prices (styrene) (down 11.6% MoM). PVC prices decreased 2.4% MoM.

MEG declines on fall in ethylene prices: MEG prices fell 10.4% MoM, higher than the decline in ethylene prices (down 8.9% MoM).

TiO2 prices marginally up in April: Weighted average TiO2 prices rose marginally MoM to USD 2,374 per ton in May from USD 2,358 per ton in April.

Ammonia prices rise, but urea prices decline: Ammonia prices gained 1.5% MoM, while urea prices fell sharply by 7.0% MoM to USD 200 per ton. DAP prices dropped 1.4% MoM to USD 350 per ton.

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