Market Players In India Expect Local Producers To Adjust PP Prices Within The Week
- Import PP offers were scarce
- Overall PP demand remains healthy
- Supply for PP Block Copolymer is tight
Market players in India contacted by SSESSMENTS.COM expect local producers to adjust PP prices within this week. So far, local PP offers were mostly stable from last week. Only one trader that reported on decreasing PP Homo Raffia offers by INR1,000/ton ($13/ton) compared to the same period. For import cargoes, fresh offers were scarce. A global trading house opted to skip offering import PP cargoes to India this week since the trader believes that import offers are unable to compete with local offers.
Demand for PP in India remains healthy although it has softened a bit compared to last week. Low demand was seen for PP Block Copolymer and PP Homo Injection, SSESSMENTS.COM was told. According to market players, the effects of monsoon on the PP market have started to be seen. On the supply side, due to the limited availability of import cargoes in the market, overall PP supply in India is not ample. PP Block Copolymer supply is reported tight.
Looking ahead, market players believe that local PP prices in India will remain firm. As the current levels are lower compared to the international prices, local PP producers are expected to make some upward adjustments. Market players opined to SSESSMENTS.COM that the adjustments will be between INR1,000-1,500/ton ($13-20/ton) and most likely to be applied within this week.
