An India-based trader revealed price changes on fresh local PE, PP offers in the country, and initially, some buyers show reluctance. When compared to the earlier of last week, the latest offers from the trader moved higher by INR1,000/ton ($13/ton) for across all grades of PE, while offers for PP Homo Raffia emerged with an increment of INR2,000/ton ($26/ton). The source reported to SSESSMENTS.COM that some buyers were initially reluctant to purchase the cargoes, but eventually accepted the higher prices since no lower prices available in the open market at the moment.
For PE, as buyers’ response towards the leading Indian petrochemical producer price increases of INR2,000/ton ($26/ton) on HDPE Film and HDPE Blow Moulding grades was not that positive, citing cash crunch as the reason, the trader decided to increase PE offers only by INR1,000/ton ($13/ton). As SSESSMENTS.COM noted, buyers’ response toward the current PE and PP offers from the trader is generally positive.
