Major Indian maker announced PP, PE, PVC offers to local buyers

It is reported that a major Indian producer has announced fresh offers for PP, PE and PVC to domestic market mostly at stable to softer levels from last month. Demand in the country is soft the moment, sources here said, due to the on-going monsoon season, and this condition might persist in the near-term.

Latest offers see an increase of INR1000/ton ($15/ton) for LDPE heavy duty while most other LDPE grades remain unchanged month on month. In the meantime, LLDPE C4 film dropped INR1500/ton ($22/ton), yet all other LLDPE and HDPE offers hold stable. 

The PP price list also plunged INR1500/ton ($22/ton) and there are no changes in PVC prices.

The weak demand has overshadowed the effect of the depreciation of the local currency that supposedly pushes local prices higher. Besides, soft sentiment in the regional market also adds to the latest downtrend here, players said.