platts pp 24 june 2015

www.polymerupdate.com www.platts.com

This Weeks Highlights:

Asian Propylene: Mostly stable on week amid buy-sell standoff

Asian PP: Falls $5-$41/mt on week amid thin demand

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 Research Macroeconomics & Currency Monthly Analysis 8

Point of Contact 10

Polymerupdate - About us & Copyright 10

Platts - About us & Copyright 10

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Week 25 June 24, 2015

ContactDetails:344,AtoZIndl.Estate,G.K.Marg,LowerParel(w),Mumbai400013,INDIA|Email:[email protected]|Tel:+912261772000(25lines)|Fax:+912261772025 1

PLATTS INTERNATIONAL PRICES (USD/MT)

Product June 17 (WK 24)

June 24 (WK 25)

Price Change on Week

India Crude basket: (USD/b) 61.72 62.37 + 0.65 Naphtha: (MOP West India) 537.43 536.98 - 0.45 Propylene :

FOB Korea 951-953 954-956 - 03 CFR China 1001-1003 999-1001 - 02 CFR South East Asia 946-948 944-946 - 02 Poly propylene :

PP Injection South Asia 1300-1302 1259-1261 - 41 PP Injection Far East Asia 1194-1196 1189-1191 - 05 PP Injection South East Asia 1254-1256 1230-1232 - 24 PP Raffia South Asia 1300-1302 1259-1261 - 41 PP Raffia Far East Asia 1194-1196 1189-1191 - 05 PP Raffia South East Asia 1254-1256 1230-1232 - 24 PP IPP Film South Asia 1330-1332 1289-1291 - 41 PP IPP Film Far East Asia 1209-1211 1209-1211 0 PP IPP Film South East Asia 1274-1276 1250-1252 - 24 PP Copolymer South Asia 1330-1332 1289-1291 - 41 PP Copolymer Far East Asia 1244-1246 1239-1241 - 05 PP Copolymer South East Asia 1294-1296 1270-1272 - 24 PP BOPP South Asia 1320-1322 1279-1281 - 41 PP BOPP Far East Asia 1209-1211 1199-1201 - 10 PP BOPP South East Asia 1269-1271 1250-1252 - 19 China Domestic (YUAN/MT EX-WORK) :PP Raffia 8780-8820 8680-8720 - 100

POLYMERUPDATE INDIAN DOMESTIC PRODUCER PRICE RIL (Ex-Hazira)

INDIA DOMESTIC PRODUCER PRICE - RIL (Ex Hazira)

Product June 17 (WK 24) June 24 (WK 25) Price Change on Week

INR/KG USD/MT INR/KG USD/MT INR/KG

PP Grade

Raffia 97.73 1393 95.73 1364 - 02 Injection 96.77 1379 94.77 1350 - 02 TQ Film Homopolymer

99.97 1426

97.97 1397 - 02 Block Copolymer 99.86 1424 97.86 1395 - 02 Random Copolymer 104.39 1491 102.39 1461 - 02 BOPP Homopolymer 101.60 1450 99.60 1420 - 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 Platts FOB West India naphtha export price

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Week 25 June 24, 2015


PLATTS Polymer shipping costs (USD/MT)

From: Middle East Middle East To: 25 100 MT > 100 MT East China 20 25 10 15 South China 15 25 10 15 India 45 50 30 40 Southeast Asia 30 35 25 30 NW Europe 55 65 50 60 Turkey 50 70 40 60 US Gulf 130 140 120 130 Latin America 165 175 160 165

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 into 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 into 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 24 WK 25 Price Changeon Week

WK 24 WK 25 Price Changeon Week

WK 24 WK 25 Price Change on Week

WK 24 WK 25 Price Change on Week June 17 June 24 June 17 June 24 June 17 June 24 June 17 June 24

Raffia 1350 1340 - 10 1330 1290 - 40 1320 1300 - 20 1300 1270 - 30 Injection 1350 1340 - 10 1330 1290 - 40 1320 1300 - 20 1300 1270 - 30 TQ Film Homopolymer 1360 1350 - 10 1340 1300 - 40 1340 1320 - 20 1320 1290 - 30 Block Copolymer 1370 1360 - 10 1360 1320 - 40 1330 1310 - 20 -- -- -- -- Random Copolymer 1390 1380 - 10 1380 1340 - 40 1340 1320 - 20 -- -- -- -- BOPP Homopolymer 1340 1330 - 10 1315 1280 - 35 1320 1300 - 20 -- -- -- --

- 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 107 - 108 106 - 107 110 - 111 105 - 106.5 109 - 110 110 - 111 121 - 122 - - 116 - 117 116 - 117 -

PP Film 111 - 112 112 - 113 114.5 -115 109 - 110 116 - 117 114.5 - 115.5 119 - 120 115 - 115.5 116 - 116.5 119 - 120 117 - 118 117.5 - 118

PP Injection 107 - 108 106 - 107 108 - 109 104 - 105 112 - 113 111 - 112 118 - 119 110 - 110.5 109 - 109.5 117.5 - 118.5 113 - 114 116.5 - 117

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Week 25 June 24, 2015


POLYMERUPDATE - INDIAN PRODUCER POSTING PRICE COMPARISON (GRADE WISE) w.e.f 18-June-2015

BOPP

Producer Grade No. *INR/MT USD/MT

RIL (Ex-Hazira) H029SG/H035SG 99600 1420

HALDIA (Ex-Works) F103 101700 1451

FIBRE FILAMENTS


RIL (Ex-Hazira) H350FG/H200FG 98080 1398

IMPACT COPOLYMER


RIL (Ex Works BC/NC) MI3535 101930 1455

RIL (Ex-Hazira) B030MG/B120MA 97860 1395

HALDIA (Ex-Works) M304 102000 1456

INJECTION MOULDING (MFI - 3)


RIL (Ex-Hazira) H033MG 95230 1357


INJECTION MOULDING (MFI 8-11)


RIL (Ex Works BC/NC) AM120N 93230 1327

RIL (Ex-Hazira) H110MA 94770 1350


RANDOM COPOLYMER


RIL (Ex-Hazira) R019MZ 102390 1461

RAFFIA


RIL (Ex Works BC/NC) SS35N 95040 1354

RIL (Ex-Hazira) H030SG 95790 1364

HALDIA (Ex-Works) R103 103100 1472

TQ FILM


RIL (Ex-Hazira) H100EY 97970 1397

HALDIA (Ex-Works) F110 99800 1423

*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/MT Aprox. Clearing and Forwarding charges / Basic Duty / Exchange Rate = USD/MT (For example: 82330 2500 / 1.075 / 54.24 = 1396)

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Week 25 June 24, 2015


Currency rates equivalent to 1 US Dollar :

Countries Currency Rates Countries Currency Rates

Indian Rupees (INR) 63.59 Japan Yen (JPY) 123.95

Pakistan Rupees (PKR) 101.72 Indonesia Rupiahs (IDR) 13,274.94

China Yuan Renminb (CNY) 6.20 Malaysia Ringgits (MYR) 3.74

Bangladesh Taka (BDT) 77.78 Singapore Dollars (SGD) 1.34

Sri Lanka Rupees (LKR) 133.96 South Korea Won (KRW) 1105.97

Thailand Baht (THB) 33.74 Saudi Arabia Riyals (SAR) 3.75

Taiwan New Dollars (TWD) 30.89 United Arab Emirates Dirhams (AED) 3.67

Heard in PP MARKET

Platts: Polypropylene:

PP Raffia/Injection: July buy indication heard at $1220-1,230/mt CFR SE Asia

PP Raffia: Aug/Early Sep delivery cargo deal heard done at $1,200/mt CFR China, 2,000 mt, India origin

PP Raffia: Domestic China price heard at Yuan 8,700-8,750/mt, ex works

PP Raffia/Injection: July offer heard at $1245/mt CFR SE Asia

PP Raffia/Injection: July offer heard at $1200/mt CFR FE Asia

PP Raffia: July offer heard at $1250/mt CFR India

PP Raffia: July cargo deals heard done at $1250/mt CFR India

PP Raffia: Domestic China price heard at Yuan 8,500-8,600/mt, ex works

Polymerupdate: N.A.

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Week 25 June 24, 2015


PLATTS INTERNATIONAL MARKET COMMENTARY & ANALYSIS

Asian Propylene: Mostly stable on week amid buy-sell standoff

- CFR China slips $2/mt on week amid thin trades - CFR Taiwan up $13/mt on week on supply tightness

Asian propylene, except for CFR Taiwan prices, was largely stable amid a buy-sell standoff and thin trading this week. The CFR China propylene price slid $2/mt week on week to $1,000/mt Friday, while FOB Korea was assessed at $950/mt, also down $2/mt over the same period. CFR Taiwan alone posted gains this week, rising $13/mt from a week ago to $1,015/mt Friday. Propylene supply has tightened in Taiwan following the unplanned outage of state-owned CPC's residue fluid catalytic cracker at the Talin refinery, traders said. Deals were heard concluded at $1,020-1,030/mt CFR Kaohsiung early this week. This could not be confirmed as Taiwan was closed for a holiday. Last Friday, Platts assessed the price at $1,002/mt CFR Taiwan. CPC's RFCC is, however, expected to restart on June 20/21, a source close to the matter said Friday. The RFCC, which is able to produce 450,000 mt/year of propylene, was shut June 5 due to technical issues. Platts reported earlier that the company planned to restart the unit June 17 but the reasons for the delay were unclear. Overall, in the region, the market was rather quiet this week as market participants decided to take a wait-and-see stance due to unclear demand and supply conditions for July business. Sellers were reluctant to reduce their offers, as they expect spot propylene cargoes to remain limited for July as a few steam crackers are due to be shut for annual maintenance. Japan's Mitsui Chemicals plans to shut its 331,000 mt/year steam cracker in Chiba over June 20-July 19 for annual maintenance. On the other hand, buyers were also cautious amid negative margins for derivatives production. Sources said that most downstream products, including acrylic acid, acrylonitrile and oxo-alcohols, were seeing negative margins and only the polypropylene-propylene spread was seen in the green. Although positive and well above the $150/mt breakeven level, the CFR China PP-propylene margins narrowed to $190/mt Friday. This was down from $223/mt a week ago. Adding to buyers' bearish sentiment, propylene supplies are seen to be increasing in line with the planned restart of steam crackers in Asia. On Tuesday, South Korea's Yeochun NCC restarted its No. 1 steam cracker in Yeosu. The cracker, which is able to produce 450,000 mt/year of propylene, was shut May 14 for annual maintenance. Japan's Mitsubishi Chemical plans to restart its steam cracker in Mizushima next week after a month of annual maintenance. The cracker is able to produce 320,000 mt/year of propylene. The FOB Korea propylene-naphtha spread has remained well above the $250/mt breakeven point, seen at $385/mt Friday.

RATIONALE: FOB Korea propylene was assessed $2/mt lower from the week before at $950/mt on Friday, above a bid heard at $940/mt. A source also said the notional deal level for FOB Korea cargo was $950/mt. The CFR China price was assessed at $1,000/mt Friday, down $2/mt week on week. The price was above the buying indication heard at around $990/mt CFR China, and below selling indications heard at $1,010/mt CFR China. The domestic price in east China was heard hovering around Yuan 7,400/mt Friday, or $1,010/mt on import parity basis. The domestic east China price was within the lower end of the range heard last week at Yuan 7,400-7,500/mt.

Asian PP: Falls $5-$41/mt on week amid thin demand

- Domestic China price falls Yuan 100/mt - India demand weakens on rainy season Asian demand for polymers was very weak across all markets, with raffia grade polypropylene dropping $5-41/mt week on week across the region. Leading the fall, the CFR South Asia PP raffia marker dropped $41/mt to be assessed at $1,260/mt Friday. Sources in India said that the start of the monsoon season meant a significant drop in demand for polymers as end-users including the construction sector slow down. A trade source said he heard an offer at $1,250/mt CFR India however this could not be confirmed with the producer. Another source heard a $1,270/mt offer but this could not be immediately be verified. After the Platts Market on Close, a $1,270/mt CFR Pakistan offer was heard. Usually, CFR India is slightly lower than CFR Pakistan by $5-$10/mt, a South Asia based source said. CFR Far East Asia polypropylene raffia slipped $5/mt week on week and $10/mt day on day to $1,190/mt Wednesday. Reliance offered at $1,200/mt this week but said demand was bearish on the back of more competitive coal-based offers. China's domestic price for PP raffia was assessed down Yuan 100/mt week on week at Yuan 8,700/mt Wednesday, or about $1,142/mt on an import-parity basis. The gap between CFR FEA and Chinese domestic price has widened to about $48/mt this week from $40/mt a week ago. Compared to other parts of the region, the CFR FEA price saw the smallest decline because of some buying activity as buyers sought cargoes on an as-needed basis. A source said there was a deal done at $1,200-$1,210/mt Monday, but this may not be a repeatable level anymore given bearish market sentiment. Most buyers were cautious and did not see the need to build up stock. Sources had bearish outlooks given that restarting feedstock propylene plants in South Korea and Taiwan could translate into more PP supply in the market. China sources also said that June and July months were usually weaker amid the hot summer season. End-users usually run at low operation rates of 70-80% of capacity during this period, a China-based trade source added. The CFR Southeast Asia PP raffia marker fell $24/mt week on week, to $1,231/mt Wednesday. Reliance offered at $1,245/mt but a trade source said there was no buying interest at this level anymore. Southeast Asian buyers are also looking at China and considering they will buy at the usual spread of about $20-30/mt higher than CFR FE Asia, he added. Buying ideas were heard at about $1,220-$1,230/mt on a CFR SE Asia basis Friday. In plant news, Saudi Arabia's Rabigh Refining and Petrochemical Company has restarted the second PP line already, a company source said without giving date of restart. Platts however earlier reported that the first line restarted on June 14. The two lines, which were shut May 23 for maintenance, are able to produce 350,000 mt/year of PP each. RATIONALE: Polypropylene raffia was assessed at $1,190/mt CFR Far East Asia Wednesday, down $5/mt week on week. That was between offers heard at $1,200/mt and a buying indication at $1,170/mt. The CFR Southeast Asia PP raffia marker was assessed at $1,231/mt, down $24/mt week on week. That was below the offer heard at $1,245/mt and buying indication of $1,230/mt CFR Southeast Asia. The CFR South Asia PP raffia marker was assessed down by $41/mt week on week at $1,260/mt. There was an offer heard at $1,250/mt from a trade source it was excluded as it could not be verified whether it is a one-off offer. Meanwhile, sources said demand was very weak in India due to the start of the monsoon season. CFR Pakistan offers, which are usually $10/mt lower than CFR India, were heard at $1,270/mt immediately after the Market on Close assessment process

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Week 25 June 24, 2015


POLYMERUPDATE - PP MARKET SUPPLY SCENARIO

PDH unit planned to be started by Yantai Wanhua Yantai Wanhua is in plans to start a new propane dehydrogenation (PDH) unit. The new unit is planned to be commissioned on July 1, 2015. Located in Shandong, China, the plant has a propylene production capacity of 750,000 mt/year. PDH unit planned to be started by Hyosung Corp Hyosung Corp is in plans to start a new propane dehydrogenation (PDH) unit. The unit is likely to be started in July 2015. Located in Ulsan, South Korea, the unit has a propylene capacity of 300,000 mt/year. Naphtha cracker taken off-stream by Mitsui Chemicals Mitsui Chemicals has shut its naphtha cracker for maintenance turnaround. The cracker was shut on June 20, 2015. It is likely to remain off-stream for around one month. Located in Chiba, Japan, the cracker has an ethylene capacity of 600,000 mt/year and propylene capacity of 331,000 mt/year.

Naphtha cracker shut by IOCL Indian Oil Corp has shut its naphtha cracker due to technical glitch. The cracker was shut June 19, 2015. The cracker is likely to resume production of June 22, 2015. Located in Panipat in the northern Indian state of Haryana, the cracker has an ethylene production capacity of 800,000 mt/year and propylene capacity of 600,000 mt/year.

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Week 25 June 24, 2015


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

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Week 25 June 24, 2015


CRISIL Research Macroeconomics & Currency Monthly Analysis

Overview: Where the rains must pour Indias number one short-term worry is the prospect of a second straight year of deficient rains. The Indian Meteorological Department (IMD), while lowering its monsoon forecast to 12% below the long period average, also predicted a 90% probability of an El -Nino event playing out. This casts a shadow over agricultural production. Delayed start to the monsoons this year has lowered kharif sowing by 9% as of June 12 compared with the same period last year. Though this per se is not much of a worry - the shortfall can be covered if rains pick up - the next 2 months (July and August) will be crucial. Given the significant downside risk from the monsoon anomaly predicted by IMD this year, we have cut our GDP growth forecast to 7.4% from 7.9% for fiscal 2016. We, however, expect consumer price index-based inflation to be contained at 5.8%, a tad lower than 6% last year, for three reasons: 1) enough cushion from food grain buffer stocks, 2) depressed global food prices facilitating imports, and 3) expectation of proactive food management and anti-hoarding steps from the government.

Agriculture accounts for less than a fifth of Indias GDP today, and is not the key driver of growth it once was. All the same, even in good times, the consumption sectors - particularly FMCG - look forward to normal rains for an extra kick to their sales. Today, when consumption and investment demand are weak and rural distress is high due to poor rains last year followed by damage from unseasonal rains this year, normal rains become all the more crucial. IIP indicates industry growth gaining traction IIP grew by 4.1% in April as compared to 2.5% in March. Growth in IIP was supported by the manufacturing sector that grew by 5.1% versus 2.8% in March. In addition, according to use-based classification, capital goods rose by 11.1% y-o-y, followed by consumer goods (3.1%), and basic goods (2.8%). Production in electricity, as indicated by the IIP sub-index, signalled a contraction in the sector in April (-0.2%), albeit this was partly due to a high base in the previous year. The month-on-month seasonally-adjusted (SA) growth also rose to 3.4% in April as compared to -1.0% in the previous month. Manufacturing index growth revived in the month led by higher growth in food product and beverages (4.9%), wearing apparel (10.1%), wood products (16.2%), basic metals (7.3%) and machinery and equipment (20.6%). The month-on-month SA growth also picked up to 3.8% from -0.8% in March, signalling an uptick in momentum. On the other hand, core sector (accounting for 38% of IIP) growth remained negative for the second consecutive month (-0.4%). This was as sectors such as electricity (-1.1%), cement (-2.4%), fertiliser (-0.1%), refinery (-2.9%) recorded negative growth. On the other hand, only coal and steel sub-indices signalled an expansion in volumes over the previous year.

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Week 25 June 24, 2015


Inflation rises in May Inflation rose to 5.01%, up from 4.87% in April. Higher fuel-related inflation - led by an increase of Rs 7.42/litre in petrol and Rs 5.6/litre in diesel prices during the month - was behind the inflation pick-up. In May, a combination of higher global oil prices (16% higher than March 2015 levels) and weaker rupee (8% y-o-y) pushed up retail fuel prices. The combined fuel index (fuel & light and transport & communication) rose to 3% in May from 1.9% in April. Food inflation provided relief, falling to 5.1% from 5.4% in May. Monsoon is the biggest risk hereon, but a lot will depend on government action to keep a tab on food inflation.

Rupee cedes more ground The rupee slipped a notch to 63.8/$ by May-end from 63.6/$ in April, although on a monthly average basis, it rose to63.8/$ compared with 62.8/$ the previous month. The local currency also fell against the euro in May to 71.2/EUR from67.8/EUR in April. The decline was driven by net outflows by foreign institutional investors (FIIs) from Indian markets; theUS dollar's continued strength against most global currencies; and month-end demand from importers.FIIs moved out of the Indian market, with net FII outflows standing at $2.2 billion from net inflows of $2.4 billion in April.Net equity outflows were at $0.9 billion in May and net outflows in the debt market came in at $1.3billion from net inflowsof $0.6 billion in April.

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 insurance 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.

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Week 25 June 24, 2015


POLYMERUPDATE PLATTS

Editorial Contact: Director, Editorial: Jwalant Oza Senior Editors: Harsh Nadkarni, Feroz Khan

Sales Contact: Marketing Managers: Reshma Jadhav, Tausif Siddiqi, Nilesh Shah

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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 .

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