Chemical prices for Jul’23

ICICI Securities Limited

1) SRF: R-22 prices dipped to INR 321/kg (down 8.3% QoQ) in Q2FY24-TD, volumes were down 18.4% YoY to 770te. In packaging films segment, spreads have improved from lower levels in BOPET and BOPP. 2) Gujarat Fluorochemicals: PTFE prices rose 2.3% QoQ / 8.8% YoY to INR 1,052 while volumes dipped 41.5% YoY to 694te. Other fluoropolymer prices rose 1.7% QoQ and volumes dipped 10.6% YoY to 286te.