An Indian trader contacted by SSESSMENTS.COM sees higher chances of adjustments on offers for certain PE grades ahead. According to the trader, offers for HDPE Film in the India market are more likely to increase in the near term due to good demand for the grades coupled with limited supply from local producers. However, the overall demand for PE and PP in the country is not yet strong as customers still purchase materials at a smaller volume compared to the usual purchasing quantity. As the trader said, it is not more than 50% of the customers’ usual purchasing volume. The PE and PP demand is expected to improve in August due to preparations for Diwali Festival. Even so, demand will not be as strong as in the same period last year, the trader opined.
Pertaining to offers, SSESSMENTS.COM was informed that offers for PE and PP across all grades from the trader’s end this week were stable compared to last week. For import, the trader received offers for mLLDPE C6 from a US producer at $30/ton higher than last week. The trader was told the producer believes that sales will remain satisfactory despite the high offers since some buyers will still choose to purchase the producer's product due to the quality. “No fresh import PP offers so far as buyers prefer to source locally,” the trader added.
