Post on 14-Feb-2018
transcript
7/23/2019 Platts PP 23 Sept 2015
1/11
This Weeks Highlights:
Asian Propylene: Falls to nine-month low on thin demand, supply glut
Asian PP: Prices edge up $5/mt in China, restocking in SEA, S Asia
INDEX:
Platts International Prices 1
Polymerupdate Indian Domestic Producer Price 1
Platts Polymer Shipping Costs (USD/MT) 2
Polymerupdate CIF India Prices 2
Polymerupdate Indian Open Market Price Table 2
Polymerupdate Indian Producer Posting Price Comparison 3
Heard in PP Market 4
Currency Rates 4
Platts International Market Commentary & Analysis 5
Polymerupdate - PP Market Supply Scenario 6
Platts Price Analysis Of PP Chain Processing Margins 7
Crisil ResearchMacroeconomics & Currency Monthly Analysis 8
Point of Contact 10
Polymerupdate - About us & Copyright 10
Platts - About us & Copyright 10
7/23/2019 Platts PP 23 Sept 2015
2/11
Week 38
September 23, 2015
Contact Details: 344, A to Z Indl. Estate, G. K. Marg, Lower Parel (w), Mumbai400013, INDIA | Email:info@polymerupdate.com | Tel: +91-22-61772000 (25 lines) | Fax: +91-22-61772025
1
PLATTS INTERNATIONAL PRICES (USD/MT)
ProductSept 16
(WK 37)
Sept 23
(WK 38)
Price Change
on Week
India Crude basket: (USD/b) 44.83 46.01 +1.18
Naphtha: (MOP West India) 419.80 428.99 +9.19
Propylene :
FOB Korea 629-631 509-511 - 120
CFR China 694-696 644-646 - 50
CFR South East Asia 644-646 594-596 - 50
Poly propylene :
PP Injection South Asia 1049-1051 1049-1051 0
PP Injection Far East Asia 974-976 979-981 + 05
PP Injection South East Asia 1029-1031 1029-1031 0
PP Raffia South Asia 1049-1051 1049-1051 0
PP Raffia Far East Asia 974-976 979-981 + 05
PP Raffia South East Asia 1029-1031 1029-1031 0
PP IPP Film South Asia 1069-1071 1069-1071 0
PP IPP Film Far East Asia 994-996 999-1001 + 05
PP IPP Film South East Asia 1049-1051 1049-1051 0
PP Copolymer South Asia 1099-1101 1099-1101 0
PP Copolymer Far East Asia 1024-1026 1029-1031 + 05
PP Copolymer South East Asia 1069-1071 1069-1071 0
PP BOPP South Asia 1064-1066 1064-1066 0
PP BOPP Far East Asia 984-986 989-991 + 05
PP BOPP South East Asia 1049-1051 1049-1051 0
China Domestic (YUAN/MT EX-WORK):
PP Raffia 7580-7620 7630-7670 + 50
POLYMERUPDATE INDIAN DOMESTIC PRODUCER PRICE RIL (Ex-Hazira)
INDIA DOMESTIC PRODUCER PRICE - RIL (Ex Hazira)
ProductSept 16 (WK 37) Sept 23 (WK 38) Price Change on Week
INR/KG USD/MT INR/KG USD/MT INR/KG
PP Grade
Raffia 77.73 1061 79.73 1089 + 02
Injection 76.77 1048 78.77 1076 + 02
TQ Film
Homopolymer79.97 1093 81.97 1121 + 02
Block Copolymer 79.86 1091 81.86 1119 + 02
Random Copolymer 84.39 1155 86.39 1183 + 02
BOPP Homopolymer 82.10 1123 84.10 1151 + 02
*Domestic Indian producer prices are quoted in INR/kg basic (Nett of all taxes); equivalent USD/MT
price is calculated at current US/INR rate. *Lot Size: 1 Truck Load (10 to 16 MT)
- Price assessments are based on information gathered from a cross section of the industry that includes
resin producers, processors, traders and distributors.
- Standard repeatable orders (based on confirmed market deals) form the basis of the prices.
PLATTS INTERNATIONAL PRICES
Specifications: Cargoes of 100-500mt delivered 15-30 days forward from date of publication with
up to 30 days credit, basis CFR Far East Asia: China main ports (Shanghai, Shenzhen, Ningbo, Shantou,
Hong Kong); CFR South East Asia: Indonesia (Jakarta, Surabaya), Singapore, Philippines (Manila Bay),
Malaysia (Port Kelang), Thailand (Bangkok, Laem Chabang, Map Ta Phut), Vietnam (Ho Chi Minh). Platts
prices reflect spot market values on the day of publication.
India Crude Import Basket Calculation: ( (Dubai + Oman) / 2 * 65.2% ) + (Dated Brent * 34.8%)
MOP West India : Mean of Pl atts FOB West India naphtha export price
mailto:info@polymerupdate.commailto:info@polymerupdate.com7/23/2019 Platts PP 23 Sept 2015
3/11
Week 38
September 23, 2015
Contact Details: 344, A to Z Indl. Estate, G. K. Marg, Lower Parel (w), Mumbai400013, INDIA | Email:info@polymerupdate.com | Tel: +91-22-61772000 (25 lines) | Fax: +91-22-61772025
2
PLATTS Polymer shipping costs (USD/MT)
From: Middle East Middle East
To: 25100 MT > 100 MT
East China 2025 1015
South China 1525 1015
India 4550 3040
Southeast Asia 3035 2530
NW Europe 5565 5060
Turkey 5070 4060
US Gulf 130140 120130
Latin America 165175 160165
NOTES:
Polymers refer to Polyethylene, Polypropylene, Polystyrene, ABS, and PVC.
1) Middle East loadings refer to products coming from Jebel Ali (Dubai), Khalifa (Abu Dhabi), Jubail (Saudi Arabia), Shuaiba (Kuwait), Rabigh
(Saudi Arabia), Mesaieed (Qatar), Assaluyeh and Bandar Imam Khomeini (Iran) ports. The assessments are normalized between these ports.
2) East China deliveries refer to products coming into Zhangjiagang, Shanghai, Jiangyin, Nantong, Ningbo, Nanjing, Zhenjiang ports.
3) South China deliveries refer to products coming into Shenzhen, Shantou, Hong Kong, Xiamen, Zhuhai ports.
4) India deliveries refer to products coming i nto Kolkata, Mumbai and Chennai ports.
5) South East Asia deliveries refer to products coming into Indonesia (Jakarta, Surabaya), Singapore, Philippines (Manila Bay), Malaysia (Port
Kelang), Thailand (Bangkok), Vietnam (Ho Chi Minh) ports.
6) Northwest Europe deliveries refer to products coming into Antwerp port. Deliveries into Rotterdam and Amsterdam ports will be normalized to
Antwerp.
7) Turkey deliveries refer to products coming i nto Istanbul and Mersin ports.
8) US Gulf deliveries refer to products coming into Houston port. No deliveries from the Persian Gulf.
9) Latin America deliveries refer to products coming into main ports in Brazil, Chile, Uruguay.
POLYMERUPDATE (CIF INDIA PRICES)
PP Grade
CIF INDIA BY ORIGIN (Nhava Sheva Port)
South Korea Singapore Thailand Saudi Arabia
WK 37 WK 38 Price Changeon Week
WK 37 WK 38 Price Changeon Week
WK 37 WK 38 Price Changeon Week
WK 37 WK 38 Price Changeon WeekSep 16 Sep 23 Sep 16 Sep 23 Sep 16 Sep 23 Sep 16 Sep 23
Raffia 1100 1110 + 10 1060 1070 + 10 1080 1090 + 10 1050 1060 + 10
Injection 1100 1110 + 10 1060 1070 + 10 1080 1090 + 10 1050 1060 + 10
TQ Film Homopolymer 1110 1130 + 20 1090 1100 + 10 1100 1110 + 10 1070 1080 + 10
Block Copolymer 1140 1150 + 10
1110 1120 + 10
1110 1120 + 10
-- -- -- --Random Copolymer 1160 1170 + 10 1140 1150 + 10 1130 1140 + 10 -- -- -- --
BOPP Homopolymer 1100 1130 + 30 1070 1075 + 05 1100 1110 + 10 -- -- -- --
- All prices are in USD/MT CIF India (Nhava Sheva) - For South Korea, Singapore, Thailand and Saudi Arabia : Cargo size of 50-100mt delivered within 30 days.
- Price assessments are based on information gathered from a cross section of the industry that includes resin producers, processors, traders and distributors.
- Standard repeatable orders (based on confirmed market deals) form the basis of the prices.
POLYMERUPDATE - Indian Open Market Price Table Note: All prices are in INR/kg levels.
Product Mumbai Delhi Kolkatta Banglore Indore Chennai Ahmedabad Rajasthan Kanpur Hyderabad Punjab Kerala
PP Raffia 90 - 90.5 90 - 91 90 - 91 90 - 90.5 91 - 92 87 - 88 93 - 94 90 - 90.5 90 - 90.5 92 - 92.5 95 - 96 89 - 90
PP Film 95 - 96 94 - 95 96 -97 94 - 94.5 95 - 96 92 - 93 96 - 97 93 - 93.5 93 - 93.5 96 - 96.5 98 - 99 91 - 92
PP Injection 89 - 89.5 89.5 - 9.5 90 - 91 90 - 90.5 92 - 93 89 - 90 93 - 94 90 - 90.5 88 - 88.5 92 - 92.5 93 - 94 89 - 90
mailto:info@polymerupdate.commailto:info@polymerupdate.com7/23/2019 Platts PP 23 Sept 2015
4/11
Week 38
September 23, 2015
Contact Details: 344, A to Z Indl. Estate, G. K. Marg, Lower Parel (w), Mumbai400013, INDIA | Email:info@polymerupdate.com | Tel: +91-22-61772000 (25 lines) | Fax: +91-22-61772025
3
POLYMERUPDATE - INDIAN PRODUCER POSTING PRICE COMPARISON (GRADE WISE) w.e.f 18-Sept-2015
BOPP
Producer Grade No. *INR/MT USD/MT
RIL (Ex-Hazira) H029SG/H035SG 84100 1151
HALDIA (Ex-Works) F103 85700 1174
FIBRE FILAMENTS
Producer Grade No. *INR/MT USD/MT
RIL (Ex-Hazira) H350FG/H200FG 82080 1122
IMPACT COPOLYMER
Producer Grade No. *INR/MT USD/MT
RIL (Ex WorksBC/NC) MI3535 85930 1177
RIL (Ex-Hazira) B030MG/B120MA 81860 1119
HALDIA (Ex-Works) M304 86000 1178
INJECTION MOULDING (MFI - 3)
Producer Grade No. *INR/MT USD/MT
RIL (Ex-Hazira) H033MG 79230 1082
HALDIA (Ex-Works) M103 82600 1130
INJECTION MOULDING (MFI 8-11)
Producer Grade No. *INR/MT USD/MT
RIL (Ex WorksBC/NC) AM120N 77230 1054
RIL (Ex-Hazira) H110MA 78770 1076
HALDIA (Ex-Works) M110 80000 1093
RANDOM COPOLYMER
Producer Grade No. *INR/MT USD/MT
RIL (Ex-Hazira) R019MZ 86390 1183
RAFFIA
Producer Grade No. *INR/MT USD/MT
RIL (Ex WorksBC/NC) SS35N 79040 1080
RIL (Ex-Hazira) H030SG 79730 1089
HALDIA (Ex-Works) R103 87100 1193
TQ FILM
Producer Grade No. *INR/MT USD/MT
RIL (Ex-Hazira) H100EY 81970 1121
HALDIA (Ex-Works) F110 83800 1147
*Domestic Indian producer prices are quoted in INR/MT basic (Nett of all taxes); equivalent USD/MT price is calculated at current US/INR rate. *Lot Size: 1 Truck Load (10 to 16 MT)
- Ex Works: BC/NC = Ex Works Baroda Complex / Nagothane Complex | Ex Works: HC = Halidia Complex | Ex Works: M/B/T = Mumbai / Bhiwandi / Thane
- Product Key: BOPP = Biaxially-Oriented Polypropylene, MFI = Melt Flow Index,
- USD Price calculation: INR/MTAprox. Clearing and Forwarding charges / Basic Duty / Exchange Rate = USD/MT (For example: 823302500 / 1.075 / 54.24 = 1396)
mailto:info@polymerupdate.commailto:info@polymerupdate.com7/23/2019 Platts PP 23 Sept 2015
5/11
Week 38
September 23, 2015
Contact Details: 344, A to Z Indl. Estate, G. K. Marg, Lower Parel (w), Mumbai400013, INDIA | Email:info@polymerupdate.com | Tel: +91-22-61772000 (25 lines) | Fax: +91-22-61772025
4
Heard in PP MARKET
Platts:
PP Raffia/Injection: Oct offers heard at $1040-1050/mt CFR SE Asia, Reliance origin
PP Raffia/Injection: Oct deals heard at $1030/mt CFR SE Asia, Reliance origin
PP Raffia/Injection: Oct offers heard at $1060/mt CFR S Asia (Pakistan), Reliance origin
PP Raffia/Injection: Oct tradable level heard at $970-980/mt CFR FE Asia
PP IPP Film: IPP Film vs PP Raffia spread at about $20/mt CFR S Asia
PP BOPP: BOPP vs PP Raffia spread at about $15/mt CFR S Asia
PP Block Copol: Block Copol vs Raffia/Injection spread about $50/mt, CFR S Asia
PP IPP Film: IPP Film vs PP Raffia spread at about $20/mt CFR SE Asia
PP BOPP: BOPP vs PP Raffia spread at about $15/mt CFR SE Asia
PP Block Copol: Block Copol vs Raffia/Injection spread about $50/mt, CFR SE Asia
PP Raffia/Injection: Oct tradable level heard at $1020/mt CFR SE Asia
PP Raffia/Injection: Oct bid heard at $1020/mt CFR SE Asia
PP IPP Film: IPP Film vs PP Raffia spread at about $20-30/mt CFR SE Asia
PP Raffia: Domestic East China price heard at Yuan 7,600-7,700/mt, ex works
PP Raffia/Injection: Oct offers heard at $1,000/mt CFR FE Asia
PP Raffia: Domestic East China price heard at Yuan 7,650/mt, ex works
PP Raffia/Injection: Oct offers heard at $1,000/mt CFR FE Asia, APC origin
PP Raffia/Injection: Oct deal concluded at $980/mt CFR FE Asia, Reliance origin (sold by trader), 100 -300 mt
PP Raffia/Injection: Oct offer heard at $1050/mt CFR SE Asia, Reliance origin
PP Raffia/Injection: Oct offer heard at $1040/mt CFR SE Asia, Sumitomo origin
Polymerupdate:
N. A.
mailto:info@polymerupdate.commailto:info@polymerupdate.com7/23/2019 Platts PP 23 Sept 2015
6/11
Week 38
September 23, 2015
Contact Details: 344, A to Z Indl. Estate, G. K. Marg, Lower Parel (w), Mumbai400013, INDIA | Email:info@polymerupdate.com | Tel: +91-22-61772000 (25 lines) | Fax: +91-22-61772025
5
PLATTS INTERNATIONAL MARKET COMMENTARY & ANALYSIS
Asian Propylene: Falls to nine-month low on thin demand, supply glut
- CFR China price lowest since December 2014
- End-users secure requirements for October
Asian propylene sank to its lowest level in about nine months Friday as buying activity fell with
most end-users having secured their requirements for October. CFR China was assessed at
$645/mt, down $50/mt from Thursday last week. Prices were not assessed on Friday last week
due to a holiday in Singapore. The last time the CFR China marker was lower was onDecember 24, 2014, when it stood at $625/mt. Towards the end of the week, offers fell to deal
levels as buyers retreated from the spot market. On Thursday, a $650/mt CFR China deal was
superseded by offers at $650/mt CFR China with buying ideas at $640/mt CFR China. In a
bearish market, South Korea's propylene exports in August rose 10% from July to 112,929 mt.
But in Taiwan, customs data showed that the country's propylene exports stood at 29,100 mt
in July, down 14.1% from June. In downstream news, South Korea's S-Oil plans to build a
705,000 mt/year propylene derivatives plant as part of an upgrade project of the Onsan
refinery at Ulsan. The plant will have a production capacity of 405,000 mt/year of
polypropylene and 300,000 mt/year of propylene oxide.
RATIONALE:
Asia propylene was assessed Friday at $645/mt CFR China, down $20/mt from Thursday and
$50/mt lower from Thursday last week. Offers stood at $650/mt CFR China for H2 October
cargoes while buying ideas stood at $640/mt CFR China. FOB Korea was down $25/mt at
$595/mt. Freight between South Korea and China hovered around $50/mt.
sian PP: Prices edge up $5/mt in China, restocking in SEA, S Asia
China's Aug PP-homo imports up 3.35% on month
Caixin flash China PMI at 47.0 for September
he CFR Far East Asia polypropylene marker edged up $5/mt Wednesday after plunging $15/mt last week, while
estocking in Southeast Asia and India kept CFR Southeast Asia and CFR South Asia markers unchanged on week.
n China, domestic prices were assessed up Yuan 50/mt on the week at Yuan 7,650/mt on Wednesday -- about
962/mt on an import parity basis. End-users booked PP-raffia cargoes at $980/mt CFR China level throughout the
eek, ahead of the week-long October holidays in China. "August and September were supposed to be peak
emand months for PP in China, but we are not seeing the volumes we expected," one China-based trader said.
hinese customs data showed that PP Homo imports rose 3.35% on month in August to 278,704 mt, although this
epresented at 5.28% drop on year. PP block copolymer imports rose 1.63% on month and 3.13% on the year to
105,528 mt in August. In Southeast Asia, restocking continued to generate firm trades. But PetroVietnam, which
raditionally exports to ASEAN countries and China, was forced to find domestic buyers amid ample supply in both
arkets, sources said. An end-user in Malaysia said that restocking and stable crude were keeping PP buying
entiment strong this week, but worried that the slowdown in China could adversely impact Southeast Asia
entiment next month. On Wednesday, the Caixin Flash China Purchasing Manager's Index came in at 47 for
eptember, down from 47.3 in August, signaling continued weakness in the Chinese manufacturing sector. India
nd South Asia PP demand continued to be firm this week as end-users restocked amid stable crude.
ATIONALE:
olypropylene raffia edged up $5/mt on the week to $980/mt CFR Far East Asia on Wednesday. Deals were heard
oncluded at the $980/mt by China-based traders. The CFR Southeast Asia PP raffia marker was assessed at
1,030/mt, unchanged on the week, taking into consideration deals concluded at $1,030/mt by end-users. The
FR South Asia PP raffia marker was assessed at $1,050/mt, unchanged on the week reflecting deals heard
oncluded at that level.
mailto:info@polymerupdate.commailto:info@polymerupdate.com7/23/2019 Platts PP 23 Sept 2015
7/11
Week 38
September 23, 2015
Contact Details: 344, A to Z Indl. Estate, G. K. Marg, Lower Parel (w), Mumbai400013, INDIA | Email:info@polymerupdate.com | Tel: +91-22-61772000 (25 lines) | Fax: +91-22-61772025 6
POLYMERUPDATE - PP MARKET SUPPLY SCENARIO
PO plant restarted by Dongying Huatai
Dongying Huatai Chemical has restarted its propylene oxide (PO) plant following a maintenance turnaround. The plant resumed production in mid-September 2015 and is currently operating at 85% of production
capacity rates. The plant was taken off-stream in early-September 2015. Located in Dongying, Shandong province of China, the PO plant has a production capacity of 80,000 mt/year.
S-Oil to build propylene derivatives plant
S-Oil is in plans to build a propylene derivatives plant. The company is in plans to setup a new propylene derivatives plant. The derivatives plant includes a polypropylene (PP) plant with a production capacity of
405,000 mt/year and propylene oxide (PO) plant with a production capacity of 300,000 mt/year. The company will also build a residue hydrodesulfurization unit with a processing capacity of 76,000 bpd. The
company is likely to invest approx USD 410 million over the next three years. Located at Ulsan, South Korea, the propylene derivatives plant will have a total production capacity of 705,000 mt/year.
mailto:info@polymerupdate.commailto:info@polymerupdate.com7/23/2019 Platts PP 23 Sept 2015
8/11
Week 38
September 23, 2015
Contact Details: 344, A to Z Indl. Estate, G. K. Marg, Lower Parel (w), Mumbai400013, INDIA | Email:info@polymerupdate.com | Tel: +91-22-61772000 (25 lines) | Fax: +91-22-61772025 7
PLATTS Price Analysis of PP Chain Processing Margins
Naphtha to Propylene Propylene to Polypropylene
Typical North East Asian $/mt margin for producing propylene
from naphtha using a conversion cost of $250/mt
Typical $/mt margin for producing PP homo injection in Far East Asia
from propylene using a conversion cost of $150/mt
Polyproplene : Naphtha ratio CFR China Vs SEA Propylene
CFR FE Asia PP homo injection prices as a ratio of naphtha CFR China propylene premium or discount to CFR South East Asian propylene prices
mailto:info@polymerupdate.commailto:info@polymerupdate.com7/23/2019 Platts PP 23 Sept 2015
9/11
Week 38
September 23, 2015
Contact Details: 344, A to Z Indl. Estate, G. K. Marg, Lower Parel (w), Mumbai400013, INDIA | Email:info@polymerupdate.com | Tel: +91-22-61772000 (25 lines) | Fax: +91-22-61772025 8
Currency rates equivalent to 1 US Dollar :
Countries Currency Rates Countries Currency Rates
Indian Rupees (INR) 65.95 Japan Yen (JPY) 120.08
Pakistan Rupees (PKR) 104.31 Indonesia Rupiahs (IDR) 14,633.29
China Yuan Renminb (CNY) 6.37 Malaysia Ringgits (MYR) 4.30
Bangladesh Taka (BDT) 77.66 Singapore Dollars (SGD) 1.41
Sri Lanka Rupees (LKR) 140.73 South Korea Won (KRW) 1185.84
Thailand Baht (THB) 36.07 Saudi Arabia Riyals (SAR) 3.75
Taiwan New Dollars (TWD) 32.90 United Arab Emirates Dirhams (AED) 3.67
CRISIL Research Macroeconomics & Currency Monthly Analysis
Overview: The commodity blessing
The global downturn, particularly the sharp slowdown in the resource-intensive Chinese economy, has depressed the prices of
many commodities. The decline is broad-based, including metals, oil and agricultural commodities. Although there are pockets of
stress within India due to low commodity prices, the overall economy stands to gain as the country is a net importer of amajority of these commodities. The recent depreciation of currency has pared some gains from the drop in commodity prices.
Yet, decline in commodity prices has been much sharper than currency depreciation. Net -net, imports are cheaper. The fall in
international commodity prices, especially of crude oil, has helped improve India's key macroeconomic parameters, such as fiscal
deficit, current account deficit and inflation. Low crude prices have also provided an opportunity to reform the fuel subsidy
regime. Industries dependent on oil, such as auto, also get a boost from lower fuel prices. Lower international prices of edible oil
have proved a blessing this year. However, weak monsoons are expected to take a toll on acreage, yields and output of oilseeds.
A drop in international non-coking coal prices will reduce input costs for sectors such as power. India is a significant exporter of
agricultural products and is trade surplus in the segment. The exports include 11.6% of total rice production, 4% of total wheat
production and also cotton. The slump in global prices hurts the export income of farmers already reeling under consecutive
monsoon failure. Metal companies also stand to lose, particularly given a drop in aluminum and steel prices.
mailto:info@polymerupdate.commailto:info@polymerupdate.com7/23/2019 Platts PP 23 Sept 2015
10/11
Week 38
September 23, 2015
Contact Details: 344, A to Z Indl. Estate, G. K. Marg, Lower Parel (w), Mumbai400013, INDIA | Email:info@polymerupdate.com | Tel: +91-22-61772000 (25 lines) | Fax: +91-22-61772025 9
IIP splutters in July as factory wheels jam
Industrial production growth moderated to 4.2% in July from 4.4% in June. On a month-on-month basis also growth remained weak. The picture
for manufacturing was also less positive with growth slowing to 4.7% in July. That said, the numbers did throw up a bright spot - for one, the
capital goods sub-index rose 10.6%. It was disappointing to see the consumer-oriented sectors lose momentum seen in July (1.3%), signalling
that consumption demand remains fragile. Unseasonal rains early this year and the weak progress of monsoon so far are telling on demand. As a
result, low capacity utilisation is a key challenge faced by most industrial sectors.
Inflation resists a drop in August
Consumer price inflation (CPI) stood at 3.7% in August, unchanged from the previous month. July inflation was revised down from 3.8% released
earlier. In August, core inflation continued to ease, but a further fall in overall inflation was contained by a pick-up in the food and fuel related
inflation. Food inflation, at 2.2%, was 10 basis points (bps) higher than in July, whereas fuel inflation (fuel and light), at 5.7%, was up 30 bps.
Wholesale price index data continued to be in the negative zone, but the extent of decline slowed. Meanwhile, with rising rainfall deficiency, food
inflation in some commodities is firming up, and if not contained, can lower some gains from falling fuel prices. Core inflation (CPI excluding food
price index, fuel and light, and petrol and diesel) fell to 5.2% in August, down 10 bps over July - its second consecutive monthly decline. Much of this
fall came from lower inflation in health, personal care effects and education. The continued decline in core reflects sluggish demand conditions in the
economy.
FII outflows drag rupee under
The rupee lost ground against most major currencies in August as foreign institutional investors made a beeline out of the emerging markets
following a devaluation of the yuan. China devalued the yuan by 4%, announcing a change to its peg against the US dollar. The move, coming at atime when the Chinese economy is in the throes of a slowdown, pulled down commodity prices and created jitters in currency and stock markets
worldwide. The rupee hit a low of 66.7/$ on August 25 before recovering a tad (it has depreciated 3% since the announcement of the Chinese
devaluation). It averaged 65.1/$ for the month, weaker than 63.6/$ in July. Against the euro and the pound, it dropped on average 3 .5% and 2.4%,
respectively.
About CRISIL Research
CRISIL Research is India's largest independent and integrated research house. We provide insights, opinions, and analysis on the Indian economy, industries, capital markets and companies. We are India's most credible
provider of economy and industry research. Our industry research covers 70 sectors and is known for its rich insights and perspectives. Our analysis is supported by inputs from our network of more than 4,500 primary
sources, including industry experts, industry associations, and trade channels. We play a key role in India's fixed income markets. We are India's largest provider of valuations of fixed income securities, serving the mutual
fund, insurance, and banking industries. We are the sole provider of debt and hybrid indices to India's mutual fund and life i nsurance industries. We pioneered independent equity research in India, and are today India's largest
independent equity research house. Our defining trait is the ability to convert information and data into expert judgements and forecasts with complete objectivity. We leverage our deep understanding of the macroeconomy
and our extensive sector coverage to provide unique insights on micro-macro and cross-sectoral linkages. We deliver our research through an innovative web-based research platform. Our talent pool comprises economists,
sector experts, company analysts, and information management specialists.
mailto:info@polymerupdate.commailto:info@polymerupdate.com7/23/2019 Platts PP 23 Sept 2015
11/11
Week 38
September 23, 2015
Contact Details: 344, A to Z Indl. Estate, G. K. Marg, Lower Parel (w), Mumbai400013, INDIA | Email:info@polymerupdate.com | Tel: +91-22-61772000 (25 lines) | Fax: +91-22-61772025 10
POLYMERUPDATE PLATTS
Editorial Contact:
Director, Editorial: Jwalant Oza
Senior Editors:Harsh Nadkarni, Feroz Khan
Sales Contact:
Marketing Managers:Reshma Jadhav, Tausif Siddiqi, Nilesh Shah
Global Editorial Director, Petrochemicals:Simon Thorne
Managing Editor:Prema Viswanathan
Singapore Editors: Gustav Holmvik, Ng Bao Ying, Michelle Kim, Heng Hui, Genevieve Soong,
Maithreyi Ramdas, Pamela Sumayao, Jennifer Lee
Tokyo Editors:Fumiko Dobashi, Anton Ferkov
About Polymerupdate: Polymerupdate is a destination for global players seeking plastics and petrochemical intelligence. We are a world renowned provider of real time news and price alerts spanning a whole spectrum of
products including Crude oil, Naphtha, Aromatics, Olefins, Polyolefins and Petrochemical Intermediates.
Credible, neutral and regular reporting has attracted over a thousand subscribers who include most of the regions leading resin producers, processors, distributors, traders, consultant firms, investment bankers, credit rating
agencies, as well as front runners in the international information services, news and media companies.
To further facilitate its readers, Polymerupdate recently launched the World's 1st Android & Blackberry Applications for daily polymer news & prices. Polymerupdate through it's daily alerts helps companies worldwide increase
their revenues and their profits, by providing them with real time, quality, valuable and business critical information. With its well appointed stringers and channel partners from across the world, Polymerupdate is rapidly
extending its reach within the industry, as it strives toward its goal of becoming the number one player in its space globally. Additional information available on http://www.polymerupdate.com .
Copyright (C) 2014 Shalimar Infotech Pvt. Ltd. ALL RIGHTS RESERVED: Shalimar Infotech Pvt. Ltd. makes no warranties as to the accuracy of information, or results to be obtained from use. No portion of this
publication may be photocopied, reproduced, retransmitted, put into a computer system or otherwise redistributed without prior written authorization from Polymerupdate.com. Polymerupdate.com is a TRADEMARK of Shalimar
Infotech Pvt. Ltd.
About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemica ls and metals information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing,
analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries
benefit from Platts coverage of the carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, and shipping markets. A division of The McGraw-Hill Companies (NYSE: MHP), Platts is
headquartered in New York with approximately 900 employees in more than 15 offices worldwide. Additional information is available at www.platts.com.
Platts content copyright 2014:Copyright 2014 The McGraw-Hill Companies. All rights reserved. No portion of this publication may be photocopied, reproduced, retransmitted, put into a computer system or otherwise
redistributed without prior written authorization from Platts. Platts is a trademark of The McGraw-Hill Companies Inc. Information has been obtained from sources believed reliable. However, because of the possibility of human
or mechanical error by sources, McGraw-Hill or others, McGraw-Hill does not guarantee the accuracy, adequacy or completeness of any such information and is not responsible for any errors or omissions or for results obtained
from use of such information. See back of publication invoice for complete terms and conditions.
About The McGraw-Hill Companies:McGraw-Hill announced on September 12, 2011, its intention to separate into two companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial
markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financials leading brands include Standard & Poors Ratings Services, S&P Capital
IQ, S&P Dow Jones Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40
countries. Additional information is available athttp://www.mcgraw-hill.com/ .
mailto:info@polymerupdate.comhttp://www.polymerupdate.com/http://www.polymerupdate.com/http://www.polymerupdate.com/http://www.platts.com/http://www.platts.com/http://www.platts.com/http://www.mcgraw-hill.com/http://www.mcgraw-hill.com/http://www.mcgraw-hill.com/http://www.mcgraw-hill.com/http://www.platts.com/http://www.polymerupdate.com/mailto:info@polymerupdate.com