Impact of Global Prices on Base Price Increases
The latest base prices of petrochemical products were announced, with global prices playing the main role in the changes.
According to WikiPlast, the exchange rate for US dollar remittances has finally entered the 430,000 Rials range, and the new base prices were calculated at 431,590 Rials per US dollar, showing an increase of 1,630 Rials (0.38%) compared to the previous week.
Today's changes in base prices were largely influenced by the global prices of petrochemical products, with the exchange rate for US dollar remittances having a minor role in the changes.
In the new base prices, polypropylene (PP) products topped the list of increases. PP chemical grades 548R and 440L saw a 2.7% increase, pricing 12,650 Rials higher than last week, marking the highest increase today.
The National Petrochemical Company calculates and publishes the base prices of petrochemical products every Sunday based on exchangeable remittance dollars and global petrochemical product prices. These prices serve as the basis for petrochemical product transactions on the Iran Mercantile Exchange each week
Important Notice | No Base Prices Announced Next Week
Due to the public holidays on Monday and Tuesday next week (Tasu'a and Ashura, commemorating the martyrdom of Imam Hussein, the third Shia Imam), the Downstream Industries Development Management of the National Petrochemical Company will not announce base prices.
Therefore, today's prices will remain valid and serve as the basis for petrochemical product transactions on the Commodity Exchange until Sunday, July 21, 2024.
Wikiplast