Indian producer lifted local offers for PP, PE and PVC on improved demand condition

It is reported that a major Indian producer has announced a fresh list price for local delivery cargoes with increases for most of the PP, PE and PVC cargoes. The firming trend in the international market, coupled with tighter availability and improved demand condition is cited as the primary support for the increases.

The latest offers see INR1500/ton ($21/ton) hike in spot PVC and LDPE while HDPE and PP increased INR1000/ton ($14/ton). The producer maintained LLDPE unchanged from the previous price announcement.

“The local market has been relatively low compared to import offers. We think the price adjustment is necessary. In the meantime, demand is improving, though not at the rate we would like,” a local trader commented.