Major India cut domestic PP and PE offers

Market players reported that a major Indian producer has reduced it's offers for PP, LDPE, LLDPE and HDPE by INR2000/t ($27/t) compared to last offers at the beginning of the month. 

A trader commented, "Demand is very weak at the moment and we see prices in China are dropping almost everyday in the past week. More re-exports cargoes are showing up in India and S. Asia market signaling that prices might fall in the near term. We prefer to maintain conservative stance for now."