Reference to our letter dated October 11, 2023, on the subject. Please note that the scheduled date of the Analyst Briefing session has been revised. The details of the rescheduled meeting are given below:
Rescheduled Date:
Thursday, October 19, 2023
Time:
3:00 PM
Venue:
Karachi School of Business and Leadership (KSBL) / video link facility
To participate in cloud-based briefing, please follow the link:
Join Zoom Meeting
https://engro.zoom.us/j/93302471437
Meeting ID: 933 0247 1437
Passcode: 339779
Before joining you will be requested to mention your name. Please note that interested participants must mention the name of their organization along with their names so that we could admit you to the briefing. We would appreciate your assistance in communicating this information to members of the exchange.
Regards,
Manager Finance & Business Planning
Analyst Briefing - Q3 2023
Engro Polymer & Chemicals Limited
Key Highlights
Ease in LC establishment and remittances, and progress on ongoing projects
Improvement in Core Delta Quarter-on-Quarter
Continued increases in cost of doing business given devaluation and inflationary pressures
To be updated after Q3 2023 board meeting
2
Engro Polymer & Chemicals Limited
International Markets
International Market Prices
International PVC Price
USD/Ton
1,7001,604
1,400
1,346
1,100
891
930
863
768
800
849
500
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug Sep
Oct
Nov Dec
2022
2023
PVC - Ethylene Core Delta
USD/Ton
1,100
917
804
800
500
394
388
472
409
451
200
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2022
2023
PVC international prices saw an uptick in August before falling by the end of the third quarter
Prices impacted by early signs of restocking in India and positive sentiments on back of new Chinese infrastructure development policies in anticipation of demand increase. Overall market cooled off on lackluster performance from China & India.
Ethylene followed a similar uptick in the beginning of the quarter then weakened amid higher spot availability from Asia and North America.
Ethylene prices will remain impacted by crude oil prices and OPEC+ decisions
PVC prices are expected to be stable to soft, given the supply surplus and weak demand amid global economic slowdown.
Source: Platts, ICIS 4
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Engro Polymer & Chemicals Ltd. published this content on 13 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 October 2023 11:50:26 UTC.
Engro Polymer & Chemicals Limited is a Pakistan-based company. The Company's principal activity is the production and distribution of chlor-vinyl products, including poly vinyl chloride (PVC), vinyl chloride monomer (VCM), caustic soda liquid, caustic soda flakes, hydrochloric acid, and sodium hypochlorite. It operates in three segments: PVC and allied chemicals, caustic soda and allied chemicals, and power supplies. The PVC and allied chemicals segment manufactures and sells PVC and allied chemicals to various industrial customers, including pipe manufacturers, shoe and packaging industry. The caustic soda and allied chemicals segment manufacture and sell caustic soda and allied chemicals to textile and soap industry. The power supplies segment supplies surplus power generated from its power plants to Engro Fertilizers Limited. The Company manufactures and markets over four grades of PVC under the brand name SABZ.