Analyst Briefing - Q2 2023
Engro Polymer & Chemicals Limited
Key Highlights
- TRIR (total recordable injury rate) of 0.23
- Execution of digitization and efficiency projects
- Recovery in Quarter-on-Quarter Caustic sales
- Increase in dollar inflows against exports
- Ease in LC establishment and remittances, and progress on ongoing projects
- Adverse budgetary implications including reimposition of super tax at 10%
- Worsening Core Delta Quarter-on-Quarter
- Continued increases in cost of doing business given devaluation and inflationary pressures
2
Engro Polymer & Chemicals Limited
International Markets
International Market Prices
International PVC Price
USD/Ton
1,700
1,400
1,100 | 891 | |
800 | 768 | |
500 | ||
Jan Feb Mar Apr May Jun | Jul Aug Sep Oct Nov Dec | |
2022 2023
PVC - Ethylene Core Delta
USD/Ton
1,100
800
500 | 394 | ||||||||||
388 | |||||||||||
200 | |||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug Sep | Oct | Nov Dec | ||
2022 | 2023 | ||||||||||
- PVC international prices remained bearish in the second quarter
- Prices impacted by a hazy economic outlook, geopolitical turbulence, slower than expected recovery in China, and an oversupply situation in India.
- Ethylene prices decreased during the quarter due to limited downstream demand, volatility in oil prices, and oversupply across most regions.
- Ethylene prices will remain impacted by crude oil prices and OPEC+ decisions
- PVC prices are expected to recover to healthy levels once the challenging global geopolitical climate improves and recessionary concerns subside
Source: Platts, ICIS 4
Engro Polymer & Chemicals Limited
Business Updates
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Engro Polymer & Chemicals Ltd. published this content on 10 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2023 10:40:07 UTC.