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Petrochem - Awaiting revival

Oct 5, 2000

Storm clouds loom over the petrochemical industry with the surge in oil prices. The rise in prices threaten the margins in the industry, as basic raw material prices firm up.

For the second quarter of FY01 the polyester prices have remained flat. Whereas, prices of polymers have increased by more than 10%. The demand for polymers is more robust with new product applications and substitutions.

Over the second quarter prices of crude oil have increased by 20%. This will put pressure on the prices of naphtha, which is the basic raw material for the petrochemical industry. Raw material prices are expected to remain firm in the third quarter and the industry performance will depend on an uptrend in polyester prices.

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