Buyers' affinity towards domestic market keeps PS demand stable in India – 31 Jan 2014

There is satisfactory demand for Polystyrene (PS) in the Mumbai market as a result of stability in prices. Although the prices were stable, the prices were bullish in the market due to the rupee devaluation. A trader told Indianpetrochem , "As a result of the falling rupee, the price of the polymer is rising in the Indian market. But buyers are adopting a need based procurement strategy for PS. This trend is set to remain in the future".

The website spoke to an official from an end-user industry of PS  in Mumbai and confirmed this just-in-time procurement strategy. The manufacturer even said that buyers are waiting for the prices to drop in order to make bulk purchases. "The buyers expect the prices to drop in the near future- that's the reason bulk purchases have been kept on hold", the official told Indiapetrochem.

Based on current market sources, there is a general expectation that the prices are likely to fluctuate in the coming time.

Currently, General Purpose Polystyrene (GPPS) sells at around Rs. 145-147 per kg  and High Impact Polystyrene (HIPS) resin sells at  Rs 148-152 per kg in Mumbai.