Open market PP prices stay unaffected in India, post producer price hikes – 20 Jan 2014

PP prices have remained almost stable in the major polymer markets in India, unaffected from the recent producer price hikes. Demand conditions have been active due the ongoing manufacturing activities. Some PP end-users also revealed to Indianpetrochem that they had enough inventories of already procured PP material, so they were immune to the recent producer price hikes. A Delhi-based trader told the website in respect to the prevailing market conditions in respect to the polymer," PP off-takes are going on actively in the market, and there has been no notable change in the market price." He also said," Demand conditions are expected to strengthen in the coming days." 
 

The recent producer price hikes could be regarded as outcomes of international effect. Recently, PP prices in the Asian continent went up, prompting Indian producers to raise their prices to maintain parity. The latest PP (IM) offer from Saudi Arabia were at $1,560 per metric tonne CIF.
 

Besides, traders also have revealed of receiving uninterrupted PP supplies from the domestic producers. PP prices are also not likely to undergo any major fluctuation in the coming days, according to many market participants.