The February 2016 report on high-density polyethylene (HDPE) imports into India indicates a 6.49% month-over-month decrease in import volume, totaling 17,964 metric tons, with a corresponding 34.80% decline in monetary value to Rs. 365 crores. The majority of HDPE imports were sourced from the Middle East, particularly from Saudi Arabia, Qatar, and UAE. Price trends showed an increase in HDPE grades, along with a net rise in ethylene prices during the month.

1. HDPE - IMPORT DATA & PRICING ANALYSIS
FEBRUARY 2016
INDEX
Particulars Page No. Particulars Page No.
FEBRUARY REPORT MAIN POINTERS 01 HDPE OFFERS 16
IMPORT SNAPSHOT CAPACITY PROJECTIONS & DEMAND SUPPLY SCENARIO
HDPE INDIA IMPORT SNAPSHOT 02 HDPE CAPACITY PROJECTIONS OF MAJOR PRODUCERS 17
HD/LD/LLD % SHARE IN INDIA PE IMPORTS 03 ETHYLENE CAPACITY PROJECTIONS OF MAJOR PRODUCERS 17
HDPE MONTHLY IMPORTS REGION-WISE BREAKDOWN 04 INDIA HDPE DEMAND SUPPLY 18
INDIA HDPE IMPORTS COUNTRY-WISE BREAKDOWN 05 INDIA ALL PE DEMAND SUPPLY 18
INDIA HDPE DESTINATION PORT-WISE BREAKDOWN 06 INDIA POLYMER DEMAND SUPPLY 19
SOURCE COUNTRY – DESTINATION PORT MATRIX – FEBRUARY 2015 07 INDIA ETHYLENE NET AVAILABILITY 19
PRODUCT PRICING GOI 5 YEAR PLAN CAGR FIGURES 20
HDPE GRADES AVERAGE MONTHLY PRICING 09
HDPE FILM MONTHLY PRICES (MAX/MIN) 10 INDIA IMPORT DUTY STRUCTURE 21
M-o-M AVERAGE PRICES % CHANGE 11
HDPE FILM 1 YEAR PRICE MOVEMENT 12 CRUDE PRICE MOVEMENT & INR V/S USD 22
HDPE FILM 3 YEAR PRICE MOVEMENT 13
ETHYLENE INDIA PRICE MOVEMENT 14 INDIA GDP GROWTH PROJECTIONS 2015-16 23
MAJOR PRODUCTS PRICE TRENDS 15
DISCLAIMER 24
Important Global News 16

2. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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High-Density Polyethylene (HDPE)
February Report Main Pointers
HDPE import volume decreased in the month of February
HDPE grades witnessed a increase in prices considering monthly averages
HDPE accounted for 33.32% of all PE that was imported into India
76.62% of the HDPE that was imported into India was sourced from the Middle East region
Saudi Arabia, Qatar and UAE were the largest exporters of HDPE to India
JNPT, Tuticorin & Chennai among seaports and Hyderabad & Ahmedabad among dryports were the largest HDPE import volume handling ports
HDPE was sourced from a total of 25 countries with 37 ports in India being the destination points
Ethylene prices witnessed a net upside
Nymex crude & Dated Brent prices saw a net upside
INR witnessed a net depreciation against the USD
Introduction
HDPE is sometimes also referred to as polyethylene high-density (PEHD) and sees high import volume into India given its various applications. It takes
1.75 kilograms of petroleum (in terms of energy and raw materials) to make one kilogram of HDPE. Known for its large strength to density ratio, HDPE
finds applications in Raffia, Blow Moulding, Film, Pipes and Injection Moulding. HDPE is highly preferred as a sheathing material where it provides high
resistance to water penetration. It is very hard, has low coefficient of friction, and is abrasion resistant. Hence, it is used in products and packaging such
as milk jugs, detergent bottles, margarine tubs, garbage containers and water pipes.
HDPE is principally used for the manufacture of high-performance pipe, blow-molded household and industrial bottles, oil bottles, injection-molded food
containers, consumer durables and disposable goods and film goods such as grocery sacks and merchandise bags.

3. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Import Snapshot
Exhibit: HDPE India Import Snapshot
Source: GoI Import Data
The table gives a snapshot on HDPE India imports in terms of volume imported and monetary value of the imports. The month of February saw HDPE
import level at 17964 MTS which represents a drop of 6.49% M-o-M. The monetary value of HDPE imports in February stood at Rs. 365 crores which
represents a 34.80% decrease as compared to the preceding month.

4. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Exhibit: HD/LD/LLD % share in India PE imports
Source: GoI Import Data
The chart shows the monthly HD/LD/LLD percentage share in total PE imported into India.

5. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Exhibit: HDPE monthly imports region-wise breakdown
Source: GoI Import Data
The above table lists the region-wise breakdown of imported HDPE. The bulk of HDPE imported by India is sourced from the Middle East region.

6. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Exhibit: India HDPE Imports country-wise breakdown
Source: GoI Import Data
The table lists out the countries from which HDPE was imported into India.

7. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Exhibit: India HDPE Destination Port-wise breakdown
Source: GoI Import Data, The table lists out the ports that handled the imported HDPE.

8. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Exhibit: Source Country – Destination Port Matrix – February 2016

9. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Source: GoI Import Data
The tables above represent the source country and destination port matrix which lists out the ports which have received the HDPE imports from the
source countries for the month of February 2016. The type of port and the volume involved are also provided.

10. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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HDPE India Pricing
Exhibit: HDPE Grades Average Monthly Pricing
Source: Polymerupdate Price Archives (Reliance Ex-Hazira Rs/Kg Basic)
The table lists out the average prices observed for the respective HDPE grades.

11. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Exhibit: HDPE Film Monthly Prices (Max/Min)
Source: Polymerupdate Price Archives (Reliance Ex-Hazira Rs/Kg Basic)
The table lists out the maximum and minimum prices that were observed for HDPE Film.

12. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Exhibit: M-o-M Average Prices % Change
Source: Polymerupdate Price Archives (Reliance Ex-Hazira Rs/Kg Basic)
The table lists out the M-o-M changes for the respective HDPE grades considering average monthly prices.

13. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Exhibit: HDPE Film 1 Year Price Movement
Source: Polymerupdate Price Archives (Reliance Ex-Hazira Rs/Kg Basic)
The chart shows the price movement for HDPE Film over a one year time frame.
HDPE Film Price in the beginning of February 2015 = Rs. 83.46 per Kg
HDPE Film Price at the end of February 2016 = Rs. 84.96 per Kg
% Price change in 1 year = 1.80%

14. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Exhibit: HDPE Film 3 Year Price Movement
Source: Polymerupdate Price Archives (Reliance Ex-Hazira Rs/Kg Basic)
The above chart shows the price movement for HDPE Film over a three year time frame.
HDPE Film Price in the beginning of February 2013 = Rs. 87.96 per Kg
HDPE Film Price at the end of February 2016 = Rs. 84.96 per Kg
% Price change in 3 years = -3.41%

15. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Exhibit: Ethylene India Price Movement
Source: Polymerupdate Price Archives (India CFR USD/MT)
Ethylene price in the beginning of February 2016 = 935 USD per MT
Ethylene price at the end of February 2016 = 1010 USD per MT
% price change in February 2016 = 8.02%
Ethylene prices witnessed a net upside in the month of February.

16. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Exhibit: Major Products Price Trends
Source: Polymerupdate Price Archives [HDPE (Reliance Ex-Hazira Rs/Kg Basic), LDPE (Reliance Ex-Mumbai Panvel Depot Rs/Kg Inclusive of excise duty),
LLDPE (Reliance Ex-Hazira Rs/Kg Basic), PVC (Reliance Ex-Hazira Rs/Kg Basic), PP (Reliance Ex-Hazira Rs/Kg Basic), PS (Ex-Works Rs/Kg Basic), PET
(Reliance Ex-Hazira Rs/Kg Basic), EVA (Reliance Ex-Works Rs/Kg Basic)]
The table has been formulated by comparing the average price for the particular month as compared to the average price of the preceding month. If the
value is “Up”, the average price for the particular month was observed to be higher as compared to the average price for the preceding month. If the
value is “Down”, the average price for the particular month was observed to be lower as compared to the average price of the preceding month. If the
value is “No Change”, the average prices of the particular month and the preceding month were observed to be the same. We have considered the India
price movements of the following grades: HDPE – Film, Blow Moulding, Injection, Pipe, Raffia; LDPE – General, Heavy Duty, Injection, Lamination, Milk
Pouch; LLDPE – Extrusion Coating, Film, Injection, Rotomoulding; PP – Block Copolymer, BOPP Homopolymer, Injection, Raffia, Random Copolymer, TQ
Film; PVC - Suspension; PET – Bottle; PS – GPPS, HIPS; EVA.

17. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Important Global News
Sinopec Maoming Petrochemical is in plans to shut a high density polyethylene (HDPE) plant for a maintenance turnaround. A Polymerupdate source
in China informed that the company is likely to shut its plant in early-March 2016. It is expected to remain off-line for a period of around 7-8 days.
Located at Guangdong in China, the HDPE plant has a production capacity of 350,000 mt/year.
PTT Global Chemical (PTTGC) is in plans to shut all three High density polyethylene (HDPE) units for a maintenance turnaround. A Polymerupdate
source in Thailand informed that the company has scheduled to shut its HDPE units in late February 2016 along with the upstream cracker. It is
expected to remain under a maintenance turnaround for a period of around 15-20 days. Located at Map Ta Phut in Thailand, the HDPE plant
consisting three units has a production capacity of 300,000 mt/year, 500,000 mt/year and 140,000 mt/year.
Reliance Industries Limited (RIL) is in plans to restart its HDPE plant at Gandhar complex. A Polymerupdate source informed that the plant is
scheduled to resume production today. The plant was shut for a maintenance turnaround on February 1, 2016. Located at Gandhar complex in Dahej,
the HDPE plant has a production capacity of 340,000 mt/year.
Unipetrol is likely to shut its polypropylene (PP) and high density polyethylene (HDPE) plants. A Polymerupdate source in the Czech Republic
informed that the company has scheduled maintenance in March 2016. Both the plants are expected to remain shut for the period of around 5-6
weeks. Located in Litvinov, Czech Republic, the petrochemical complex comprises of HDPE plant with a production capacity of 320,000 mt/year and
PP plant with a production capacity of 290,000 mt/year.
HDPE Offers
No offers

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Capacity Projections & Demand Supply Scenario
Exhibit: HDPE Capacity Projections of the major producers in India
HDPE Capacity (Kt) 2013-14 2014-15 2015-16 2016-17
RIL 490 490 490 490
GAIL 700 700 700 700
HPL 550 550 550 550
IOCL 475 475 475 475
OPAL --- 720 720 720
BPCL 155 155 155 155
Source: Chemicals & Petrochemicals Manufacturer's Association of India (RIL- Reliance Industries Limited; GAIL- Gas Authority of India Limited; HPL-
Haldia Petrochemicals Limited; IOCL- Indian Oil Corporation Limited; OPAL- ONGC Petro Additions Limited; BPCL- Bharat Petroleum Corporation Limited)
Exhibit: Ethylene Capacity Projections of the major producers in India
Ethylene Capacity (Kt) 2013-14 2014-15 2015-16 2016-17
RIL 1840 1840 3240 3240
GAIL 1000 1000 1000 1000
HPL 670 670 670 670
IOCL 857 857 857 857
BPCL - Assam GC 220 220 220 220
OPAL 0 1100 1100 1100
Source: Chemicals & Petrochemicals Manufacturer's Association of India (RIL- Reliance Industries Limited; GAIL- Gas Authority of India Limited; HPL-
Haldia Petrochemicals Limited; IOCL- Indian Oil Corporation Limited; OPAL- ONGC Petro Additions Limited; BPCL-Assam GC - Bharat Petroleum
Corporation Limited Assam Gas Cracker)

19. POLYMERUPDATE HDPE – IMPORT DATA & PRICING ANALYSIS
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Exhibit: India HDPE Demand Supply
HDPE (Kt) 2010-11 A 2011-12 A 2012-13 A 2013-14 E 2014-15 E 2015-16 E 2016-17 E
HDPE Capacity 1690 1795 1795 1795 1830 2810 2810
LLD/HD Capacity 847 1007 1007 1007 1007 1007 1007
Total Capacity 2537 2802 2802 2802 2837 3817 3817
Production 1216 1503 1501 1486 1621 2521 2606
Imports 330 385 440 410 480 220 230
Exports 55 227 160 115 65 368 500
Apparent Demand 1491 1661 1781 1781 2036 2373 2336
Demand Growth% 10.80% 11.40% 7.22% 0.00% 14.32% 16.55% -1.56%
The table provides the India HDPE Demand Supply Snapshot.
Exhibit: India All PE Demand Supply
All PE(Kt) 2010-11 A 2011-12 A 2012-13 A 2013-14 E 2014-15 E 2015-16 E 2016-17 E
Capacity 2826 2965 2980 2980 3065 5115 5565
Production 2072 2519 2457 2485 2654 4488 4996
Imports 970 1060 1217 1179 1313 790 730
Exports 65 251 170 125 77 588 730
Apparent Demand 2977 3328 3504 3539 3890 4690 4996
Demand Growth% 8.40% 11.79% 5.29% 1.00% 9.92% 20.57% 6.52%
The table lists out the PE Demand Snapshot for India.

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Exhibit: India Polymer Demand Supply
Polymers (Kt) 2010-11 A 2011-12 A 2012-13 A 2013-14 E 2014-15 E 2015-16 E 2016-17 E
Capacity 8348 8487 8967 9882 10089 12290 12740
Production 6854 7682 7958 8424 9059 11311 12089
Operating Rate 82% 91% 89% 85% 90% 92% 95%
Imports 2087 2404 2970 2777 2957 2688 2907
Exports 722 1121 1057 1005 1215 1667 1641
Net Trade -1365 -1283 -1913 -1772 -1742 -1021 -1266
Apparent Demand 8219 8965 9871 10196 10801 12332 13355
Demand Growth% 7.40% 9.08% 10.11% 3.29% 5.93% 14.17% 8.30%
The table lists out the India Polymer Demand Supply scenario.
Exhibit: India Ethylene Net Availability
Ethylene (Kt) 2010-11 A 2011-12 A 2012-13 A 2013-14 E 2014-15 E 2015-16 E 2016-17 E
Capacity 3837 3907 3907 4157 5637 7127 7127
Production 3000 3355 3744 3985 5165 6755 6955
Imports 55 15 23 50 25 25 25
Exports 0 0 0 0 0 0 0
Net Availability 3055 3370 3767 4035 5190 6780 6980
All ethylene produced in India is used for local consumption and is not exported.

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GoI 5 Year Plan CAGR Figures
5 Year Plan Parameter HDPE Ethylene CAGR
Capacity Creation 9.20% 9.00%
Demand 10.90% 7.00%
Capacity Creation 11.10% 12.90%
Demand 9.20% 12.40%
13th 5 Year Plan
Growth (2016/17 -
2021/22)
Demand 9.00% 0.80%
11th 5 Year Plan
Growth (2005/06 -
2011/12)
12th 5 Year Plan
Growth (2011/12 -
2016/17)
Actual
Projected
Source: GoI 12th 5 Year Plan on Petrochemicals
The table gives the Actual CAGR achieved in the 11th 5 Year Plan (2005/06 – 2011/12) and the projected CAGR for the 12th 5 year Plan (2011/12 –
2016/17) and 13th 5 year Plan (2016/17 – 2021/22) for HDPE and Ethylene. As per government projections, HDPE is likely to enjoy above GDP growth
rates in the 12th and 13th 5 Year plan periods.

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India Import Duty Structure
Products Basic Duty %
Countervailing
Duty (CVD) %
Education Cess
on CVD %
Special
Additional Duty
(SAD) %
TOTAL DUTY %
LDPE 7.5 12 3 4 25.852
LLDPE 7.5 12 3 4 25.852
HDPE 7.5 12 3 4 25.852
PP-Homopolymer 7.5 12 3 4 25.852
PP-Copolymer 7.5 12 3 4 25.852
GPPS 7.5 12 3 4 25.852
HIPS 7.5 12 3 4 25.852
PVC 7.5 12 3 4 25.852
PET 7.5 12 3 4 25.852
INDIA
Source: Government of India

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Crude Price Movement V/s INR performance against the USD
Source: Polymerupdate Market Intelligence, RBI currency reference rates
The graph shows the movement of Dated Brent, Nymex crude and the INR performance against the USD. The Y-axis on the left is USD/barrel rate while
the Y-axis on the right represents the conversion rate.
INR value against the USD in the beginning of February 2016 = 67.85 per USD
INR value against the USD at the end of February 2016 = 68.40 per USD
% net value change in February 2016 = 0.81% (Depreciation)
Dated Brent price in the beginning of February 2016 = 34.24 USD per barrel
Dated Brent price at the end of February 2016 = 35.97 USD per barrel
% net price change in February 2016 = 5.05%
Nymex crude price in the beginning of February 2016 = 31.62 USD per barrel
Nymex crude price at the end of February 2016 = 33.75 USD per barrel
% net price change in February 2016 = 6.74%

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India GDP Growth Projections 2015-16:
Organization GDP Growth
ADB 7.4%
CRISIL 7.4%
IMF 7.5%
World Bank 7.5%
Economic Intelligence Unit (EIU) 7.1%
Moody's 7.0%
Fitch 7.5%
Source: Data collected from various sources

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We will be happy to receive any feedback/suggestions on this analysis.
Also, if there are any queries, then please do not hesitate to get in touch with us at info@Polymerupdate.com.
Note: The Govt. of India has decided as a policy matter to not disclose the names of the importers/exporters on the ground that revealing such
information would violate commercial confidentiality. These rules are in the nature of subordinate legislation and have the legal force of the Parliament.
Please refer to Notification No. 128/2004-Customs (N.T) Direct Link: http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k4/csnt128-2k4.htm
The content in this report wherever the source is mentioned as the “GoI 12th 5 Year Plan on Petrochemicals” is owned by the Planning Commission,
Government of India and its further distribution is strictly forbidden without permission of the Planning Commission, Government of India.
Disclaimer: This analysis makes use of Import data procured from the Indian Customs and is being made available on an “as is” basis. We have
attempted to refine the raw database by removing records with sweep/reprocessed/off-grade material shipments and records with non-standard units. We
have undertaken our best efforts in refining the database while formulating our statistics; however, customs data is known to include repetitions which are
difficult to verify independently and February have inadvertently got included in this analysis. The figures have been rounded off during some
calculations; hence some totals/subtotals February not match exactly. No representation or warranty, express or implied, is made as to the fairness,
accuracy, completeness or correctness of the information/opinions contained herein. It is advisable that all figures be considered as approximate.
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expense, loss or damage whatsoever arising from use, or loss of use, of data, arising out of or in connection with the use of this report. The content of
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