Indian major cuts PP, PE offers in local market

Indian players reported having received fresh offers from a major domestic producer with price reduction compared to last month.

“There will be price protection for local offers starting today until end of the month or next round of new offers,” an Indian player added.

In the latest offer, domestic cargoes based on EXW India, cash equivalent see INR3,000/ton ($42/ton) decreased on all PP, LLDPE, HDPE film and yarn, INR5,000/ton ($69/ton) dropped for all other HDPE, INR2,000/ton ($28/ton) for LDPE EC and INR1,000/ton ($14/ton) for LDPE. All the reduction come to effect on 15 November 2018.