ICICI Securities: Specialty Chemicals Price Trend
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ICICI Securities Report
R-22 export realisation dipped to Rs 174 in September 2020, which is the lowest price since February 2018, and this has come despite phase-down two, which has cut production by 25% from baseline from January 01, 2020.
R-22 export volumes were down only 16.9%, which means next quarter can see a sharp dip in export volumes to meet guidelines.
Though spreads for BOPET-PTA/MEG (biaxially-oriented polyethylene terephthalate- paraxylene; terephthalic acid / monoethylene glycol) and BOPP-PP (biaxially oriented polypropylene) has been strong in Q2 FY21, it started cracking in September 2020 with a dip of 3.3% and 8.3% month on month, respectively.
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