Chemicals & Polymers

Polymer markets remain cautious amid falling crude prices and U.S. tariffs. PE and PP buyers are holding back, anticipating further price drops. PVC demand is hit by cheaper imports, prompting anti-dumping duty action. Key price cuts from JPFL and RIL signal inventory pressure. Markt players await clarity on trade and pricing trends before major moves.

Methanol import offers in India have moved up by ₹1/kg amid slight improvement in buying interest, though trader sentiment remains mixed due to bearish signals from international markets. With steady domestic supply and incoming Iranian cargoes, buyers are proceeding cautiously. Weak downstream demand continues to weigh on pricing, especially in the amines, MTBE, and acetic acid sectors.

PET prices remain under pressure due to oversupply, weak demand, and falling upstream costs. Despite a slight recovery in Chinese prices, inventories are high and demand sluggish. Crude oil and feedstock volatility continue to erode cost support, keeping the market bearish. Short-term pricing depends on demand revival and production adjustments.

Acetic Acid prices have surged due to supply tightness driven by GNFC’s shutdown, delayed imports, and low port inventories. Importers and traders have raised prices, with downstream sectors like Ethyl Acetate reacting with immediate hikes. Continued demand growth and limited supply are expected to keep prices firm and volatile in April.

Polypropylene prices in India remain relatively stable, though global markets face bearish pressure. Increased imports, weak demand from key sectors, and geopolitical trade tensions are weighing on sentiment. European supply is ample despite plant outages, and bearish crude trends continue to influence market expectations, potentially keeping PP prices soft in May.

MIBK prices in India declined amid subdued demand, high port inventories, and falling replacement costs. Offers are now INR 116–119/kg depending on payment terms. While demand remains weak in bulk drug and rubber sectors, stable offtake in paints and coatings provides limited support. Deepak Phenolics’ entry may shift future supply trends.

Indian methanol import prices have softened by ₹2/kg amid the arrival of low-priced Iranian cargoes. Domestic prices are down ₹4/kg week-on-week. While supply remains stable, subdued downstream demand and bearish global cues are driving cautious buying behavior. Short-term volatility is expected as buyers await further price corrections.

Polymer prices remain steady as HMEL leads India's petrochemical growth with record sales and expanded capacity. Strong industry demand, robust logistics, and strategic investments position HMEL for further growth.

Acetone prices increased by ₹1/kg amid tight supply, limited port inventories, and strong demand from paints and coatings. Despite bullish sentiment, downstream correction in feedstock costs may create scope for price adjustments in the near term.