Moderate PP trading atmosphere prevails in Mumbai market on need-based purchases – 7 Jan 2014

Trading atmosphere, today, in the Mumbai market in respect to the PP material was moderate with buyers purchasing the raw material on need basis. Prices of the different grades of the polymer were higher than that prevailed last week on account of producers having hiked their ex-work prices in the preceding week. In the context of the prevailing trading conditions in the Mumbai market, a trader in that market commented," Moderate demand for PP is prevailing in the market, and if the price settles a bit, demand will increase." 
 

A  Mumbai-based PP Film manufacturer said," We expect PP price to settle a bit, and if that happens, we will purchase the raw material in bulk to build up an inventory." He also said, "Currently, we are adopting the need-based purchase strategy in view of uncertainty in price improvement."
 

Interaction with several buyers in the Mumbai region revealed that affinity for importing the PP material among them was low. They preferred the local market for their raw material procurement.
 

In the Mumbai market today, the Film, Injection Moulding and Raffia grades of the PP material were at around Rs 120-123 a kg, Rs 119-120 and Rs 119-120 a kg respectively.