Market News Today

Discover the evolving dynamics of LLDPE, LDPE, and HDPE markets amidst fluctuating prices driven by factors such as crude oil volatility, geopolitical tensions, and global freight rates. Gain insights into regional trends and market sentiments shaping the polymer industry landscape.

Price stability in South India's ferrous scrap market with categories like Godown Grade at Rs 35,300/ton. Demand remains active but finished goods sentiment dips. Cash flow shows instability. Imported scrap trade subdued in South Asia. MS scrap market stabilizing post-hikes, with cautious buyer sentiment.

US natural gas prices remained stable as increased demand predictions for the upcoming week balanced the surge in production over the weekend.

Anticipations rise for OPEC's Monthly Oil Market Report due Tuesday, influencing oil prices. The report's outlook has significant market implications.

India's coal imports saw an 8% increase, reaching 268 million tonnes in Financial Year 2024, demonstrating enhanced coal consumption in the country.

Brent Crude trades below $83 per barrel, West Texas Intermediate above $78, down 1% due to increased gasoline, distillate inventories. Analysts anticipate delay in rate cuts, amid fuel demand slowdown and interest rate pessimism.

European phenol prices have plunged due to declining demand and weak upstream support. The faltering downstream demand from the Bisphenol A industry and supply chain bottlenecks have led to a slowdown in Germany's manufacturing sector.

Polyvinyl Alcohol prices in the Netherlands remain stable due to consistent feedstock Vinyl Acetate monomer prices and adequate stocks to meet demand. The European Central Bank's 4.5% interest rate since 2024 also contributes to this stability.

India's Prime Minister and Union Minister advocate for ethanol production, with sugarcane farmers earning Rs 80,000 crore from ethanol sales in the last decade. They suggest increased ethanol demand could revolutionize India's agro-economy.

Early May 2024 sees balanced global Polyethylene Terephthalate (PET) market with similar price trends across the US, Germany, and Asia Pacific regions.