Falling Crude Oil Prices Soften Indian Polymer Market – 4 Dec 2014

Commodity and Styrene based polymer buying continued to remain lackluster in Indian major markets, on going dull market condition End users are not ready to purchase raw material in cheap rate due to prevailing international market condition. As reported Crude Oil is falling day by day and prices is being fluctuating market sentiment. Indian Producers lowered their basic price for PE, PP, PVC, PS and EVA in the last price revision, seemingly due to the sluggish market conditions apart from international price trend. Moreover, presence of ample stocks with sellers in the market also is accountable for the downward price movement, as learnt in conversation with the sources.

According to the traders whom Indianpetrochem discussed about the on going market trend they commented that they are totally depress by the falling Crude oil prices in international market. They do not want to buy Import material because of announced downward price trend by Indian Producers.

After this price revision will polymer market moves on a positive direction or till waiting for things to happens?