Methodology
Petrochemicals
We collect prices from a wide ranges of sources.
Indianpetrochem.com collects and analyses prices of commodity polymers, engineering plastics in a methodical manner across India though a network of scouts, industry stringers, journalists, analysts and editors. Prices are fed live to our head office in New Delhi, where they are analysed for inconsistency and errors and then revalidated, if necessary, before they are uploaded to the website.
We ensure our prices are accurate.
A price is discovered for a particular commodity through daily interviews with buyers, producers, traders and distributors. The price for a commodity in a particular trading centre is determined from standard repeatable orders for the day. These prices are transmitted to New Delhi where they go through another round of scrutiny before they are uploaded. If prices are found to be out of step, they are sent back for revalidation by our teams or our central office checks them out directly with the sellers and buyers so that all explicit and implicit biases are ironed out. Our scouts and stringers are appointed after a due interview process to rule out any inherent bias.
Only the most representative prices are published.
Indianpetrochem.com goes to great lengths to ensure accuracy of its prices. Prices are generated throughout the day for an item from multiple sources and only the most representative prices are taken into consideration for updation.
Spot Prices.
Spot prices are updated several times a day depending upon how quickly the market moves. These are “free delivery” prices negotiated between sellers and buyers on a daily basis and are inclusive of taxes. Spot prices are for delivery locally at the place for which the price is generated.
Ex-Work prices.
Ex-work prices are company list prices. The later is tabulated in a format that allows for trends to be discerned.
The following points are to be noted:
* Company list prices are separately uploaded as PDF files independently under the red button once you log in
* Ex-work prices are given in an easily readable format under our usual reporting format. The pricing is based on depot prices inclusive of freight but exclusive of taxes. For full details on how the prices will pan out for the readers, please look at the list prices.
Import prices.
We generate import prices for Europe, the Middle East, Asia or Asia-Pacific, China, West Asia, North America and the Former Soviet Union. The intention is to provide a suite of global prices that have an impact on Indian prices. India is import dependent on key petrochemical products and import prices are of relevance. The quotes are in relevant currencies as highlighted in our pricing tables. The prices are in FOB, CIF and “Landed” formats.”Landed” prices are the most representative prices for commodities at Indian ports. The Nava Sheva port is usually taken as the representative port as bulk of the petrochemical imports take place from this port. We take the largest ‘landed’ volume of the commodity and its price at the port as the relevant benchmark.
Discounts are taken into account in bulk prices.
An “offer” price as mentioned in our site is a bulk price and is derived from bilateral negotiations. These prices are quoted after adequate validation from both buyers and sellers. We take into account discounts while arriving at the correct values for such contract prices.
In-depth analysis.
Our analyst and editors are trained to spot trends and put them in the correct context. We continuously monitor demand supply forces at play out not just in India but across the world and how they influence local prices. Global commodity prices, plant shutdowns both within and outside India, raw material price behavior and even geo political developments are taken into account when we put out our analyses and forecasts.
Daily interactions with market players.
We closely liaise with producers, wholesalers, distributors, bulk importers on a daily basis to provide real time updates. Since India’s chemical and petrochemical prices are deeply influenced by imported materials, we have an international price section that collects and collates CIF and FOB prices across the main trading centers around the world.
While we make every effort to collect information with as much accuracy as possible, we do not take responsibility for any damage or liability that may arise out of any sale or purchase that may take place based on our prices matrices.