Tariffs Trigger Buyer Caution Across PE, PP & PVC Markets

Price Outlook – Latest Polymer Offers Across India

• XINFA PVC K67 (SG5) ready material is available in Bhiwandi at ₹66,500 per metric ton. 
• In Hyderabad, HDPE PE100 Black (Prime) is being offered at ₹95,800/MT. 
• MRPL PPHP Lamination (HY035R) is priced at ₹1,04,500/MT in Rajkot, while LLDPE 1 MFI Slip (Prime) is available in the same region at ₹94,370/MT. 
• LDPE 2 MFI Non Slip (Prime) can be sourced from Bhiwandi at ₹1,13,000/MT. In Delhi, Haldia PPCP Random (M312 - Prime) is quoted at ₹1,06,250/MT. 
• HMEL MDPE BM (B0148D) is priced at ₹96,760/MT in Ahmedabad. 
• Meanwhile, Shandong Gaoxin CPVC K57 (J500) is being offered at ₹1,20,000/MT in Mundra.

Demand-Supply Trends – Caution Prevails Amid Volatility

• In the Polyethylene (PE) market, demand has turned cautious following a drop in crude oil prices. LDPE processors are limiting purchases to short-term requirements, anticipating further price corrections. 
• Despite plant shutdowns at GAIL, Haldia, and IOCL, no significant supply constraints have been observed in HDPE and LLDPE. 
• Meanwhile, traders and distributors are offloading inventory at competitive prices to manage stock levels and align with evolving market trends.
• In the Polypropylene (PP) segment, demand remains strictly need-based. Buyers are hesitant to build inventory amid high stock levels and potential discounts from domestic producers. 
• Demand for impact and random copolymers is particularly weak, even during the peak summer season, with high-flow PP witnessing subdued interest.
• For Polyvinyl Chloride (PVC), local demand is under pressure due to the influx of competitively priced imported materials. 
• This has made it difficult for domestic producers to secure consistent orders, prompting a shift in sales strategies among distributors who are now offering aggressive discounts.
• The announcement of U.S. tariffs has introduced volatility across the polymer industry. Export-oriented units in India are reassessing raw material procurement due to increased trade uncertainty. 
• Additionally, PVC producers have approached the High Court, seeking early enforcement of anti-dumping duties to counterbalance the impact of cheaper imports and support local sales.

Market Movers – Key Announcements and Price Revisions

1. Chiripal has rolled over PET prices and withdrawn price protection.
2. JPFL (Jindal Films Pvt Ltd) has reduced BOPP prices as follows:
   a). TT grade: down by ₹5,000/MT
   b). NTT grade: down by ₹3,000/MT
   c). 8-12 microns and 10 & 12 matte films: reduced by ₹4,000/MT
3. RIL has revised the following:
   a). Rolled over PP deemed export prices
   b). Reduced PVC prices by ₹2,000/MT
   c). Rolled over PET prices and withdrawn price protection

Expert Take – Sentiment Weak, Outlook Hinges on Trade Clarity

• The market sentiment across all three segments remains cautious. In PE and PP, buyers are adopting a wait-and-watch approach, expecting additional price corrections and promotional offers in the near term. 
• For PVC, the potential implementation of anti-dumping duties could reshape the demand outlook, though current inventory pressures and weak domestic offtake remain concerns. Overall, market participants are closely tracking both domestic production trends and international trade developments before making large-scale commitments.