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ICICI Securities Report
Chemical industry has seen recovery with easing of lockdown and improvement in demand driving sequential improvement in volumes, though volumes are still down on YoY basis.
BoPET (biaxially-oriented polyethylene terephthalate) spreads have been mostly stable despite factories normalising manufacturing capacity; BOPP (biaxially-oriented polypropylene) has seen some dip.
Technical textiles' profitability may improve sequentially on improving spreads and likely better volumes.
R-22 prices have declined on seasonality and volumes in eight months dipped only 16.5%, versus 25% cut in the second phase-down, which may hurt volumes in the next four months.
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