Market players in India report better demand for most polymer products following the Diwali holidays as buyers return to the market to replenish stocks, as per Chemorbis. With demand beginning to pick up, sellers are said to be mulling price increases in the days ahead.
In the PVC market, a distributor reported plans to adjust their offers for domestic materials upward by INR1000-2000/ton (US$25-50/ton) over the near term in line with their expectations that domestic producers will announce price increases. In the import market, traders reported receiving offers for Taiwanese origins with increases of US$40/ton when compared with the pre-holiday period while adding that they expect to see similar announcements by South Korean producers over the near term. This expectation prompted some traders to secure some South Korean material this week. With an increasing number of converters expected to return to the market to replenish their stocks next week, traders expect to see further improvement in demand over the near term.
In the PE market, a trader reported that import prices are moving higher in the week after the holidays, adding that they managed to secure some Thai HDPE film and yarn at attractive prices early in the week. When compared with the pre-holiday period, import offers have gained US$80/ton for HDPE film and US$70/ton for LLDPE film at the lower end of the range. Another trader is reported to have received an offer for Thai LLDPE film at a price they found attractive this week. The trader said that they are hesitant to accept this offer due to insistence by supplier to also purchase some HDPE film at the same time. Traders commented that they are expecting to see further improvements in demand in the coming weeks. In the PP market, a woven bag manufacturer stated that they are looking to secure some domestic PP to cover their immediate needs this week. The converter reported that they are having a difficult time finding attractive offers as most sellers have already raised their prices in anticipation that a major domestic producer will announce a price increase later this week.