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According to WikiPlast, the National Petrochemical Company of Iran calculates and publishes the base prices of petrochemical products every Sunday, based on the weekly average sales of exchange market dollar remittances. These prices serve as the basis for trading petrochemical products on the Mercantile Exchange for the week.
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Petrochemical companies sell their polymer and chemical products on the Mercantile Exchange to producers and buyers authorized by the Ministry of Industry of Iran. Buyers of petrochemical products are prohibited from reselling raw materials and must use all purchased raw materials for the production of finished products.
Rise in Base Prices Driven by Dollar and Global Markets
The tenth base prices of petrochemical products for the Iranian year 1403 were announced today, showing an increase for most goods influenced by the rise in exchange dollar rates and global prices.
According to WikiPlast, the new base prices were calculated using an exchange rate of 423,200 Rials per dollar, marking an increase of 4,600 Rials compared to May 27.
Among the new base prices, PVC products led the gains with a 7.4% increase. LDPE saw a 3.4% increase.
On the declining side, extrusion polyethylene experienced a price drop of 1% to 1.3%.
Wikiplast