In recent years, the global economic growth rate has slowed down. At the same time, limited improvements have been made to global issues such as inflation and geopolitical conflicts, leading to increased risks in commodity operations. In addition, factors such as OPEC+ production reduction policies have led to high crude oil prices, and the PE industry, as a downstream product of petrochemicals and coal chemicals, has been affected by many negative factors. The market situation in 2023 is facing numerous obstacles. Can the price of PE be revitalized in 2024, and will the three-year low point in the middle of last year reappear? This analysis takes you forward to the trend of PE in 2024. Currently, China is still in a period of rapid expansion in the PE industry. According to statistics, the total number of new PE production units in 2023 is about 5 million tons/year or more, with a production capacity growth rate of over 20%. After the previous year, it has once again entered a peak ...

SRF: R-22 price rose to Rs346/kg (+3.4% QoQ) in Q4FY23-TD; volumes were up 179.5% YoY to 0.91kte. In packaging films segment, spreads contracted QoQ for both BOPET and BOPP, which will put pressure on SRF’s packaging films margin. Gujarat Fluorochemicals: PTFE price jumped 6.5% QoQ / 15.8% YoY to Rs1,090 while volumes fell 28.6% YoY to 0.94kte. Other fluoropolymer price was flat QoQ, and volumes surged 3.1x YoY to 314te. Archean Chemical: Bromine price dipped 1.1% QoQ, volumes dipped 37.6% YoY to 0.85kte while SOP price dipped 17.4% QoQ. Clean Science: Q4FY23-TD margins were likely affected by 10.8% QoQ dip in guaiacol price to Rs343, partly offset by 11.3% QoQ decline in phenol price to Rs91. Galaxy Surfactants: Lauryl alcohol price dipped in Q4FY23-TD to Rs135, down 8.6% QoQ. This should help Galaxy improve its volumes due to reducing cost pressures on FMCG companies. Rossari Biotech: Four key raw material prices have started falling, which has aided margin improvement. EPL: S...