Indian producer cuts local PP offers, maintains PE and PVC prices

According to players in India, a major local producer has announced fresh prices to domestic buyers with a reduction of INR2000/ton ($30/ton) for homo-PP and INR2500/ton ($37/ton) for PP copolymers grades. However, the maker reportedly maintains PE and PVC prices unchanged from the last offering. The new price list is effective starting 11 August 2016.

A buyer in the country commented, “Demand in local market is weak as the monsoon in still on-going. However, we do expect better demand in September once the rain abates. Export homo-PP business is not very healthy at the moment; hence we think there would be further downward pressure in domestic market in the near term.”