IOCL PPCP Price RANDOM (3120MA - PRIME) in Delhi

Polypropylene (PP) markets in both Europe and India remain subdued. Despite crude oil strength, oversupply and poor downstream demand are capping prices. European spot and contract rates are stagnant, while Indian PP prices vary by grade. Market players are adopting a wait-and-watch approach ahead of July’s propylene settlement.

The Indian polymer market remains subdued amid monsoon-driven demand slowdown and global freight issues. While domestic suppliers offer incentives to stimulate sales, geopolitical tensions—especially the Strait of Hormuz crisis—are driving crude prices higher, impacting raw material costs. BIS compliance deadlines are also reshaping sourcing behavior toward certified domestic suppliers.

The Chinese polypropylene market continued consolidating in May 2025, with wire-drawing grade PP prices dipping 1.18% to $1,030/ton. Stable production, high inventories, and off-season demand weighed on prices. Despite slight export improvements and tariff optimism, buyers remain cautious amid macroeconomic uncertainty and incoming capacity expansions expected to pressure the market further.

PP prices in Delhi remain steady, with PPCP random grades peaking at ₹1,09,000/MT. Chinese PP prices dipped 0.74% in May, reflecting stable but subdued demand. While supply remains ample with upcoming capacity additions, off-season demand and high inventories are capping price momentum. Market expected to stay in consolidation.

PVC prices rose ₹1–1.25/kg in India amid freight tightness and pre-BIS certification buying. Polypropylene and polyethylene prices continued correcting due to subdued global demand and aggressive discounting. Despite tariff relief optimism, buyers remain cautious. Chinese plant shutdowns may support PE prices ahead, while anti-dumping duty uncertainty clouds the PVC outlook.

India's polymer market is witnessing a major shift in 2025, with fewer MoUs and a stronger push toward flexible, spot-based procurement. Prices remain high across key regions, while trading companies and digital platforms gain importance. Polyethylene demand is surging, prompting structural changes in supply strategy and sourcing behavior.

Polymer prices across India witnessed downward pressure amid weak demand and abundant supply. Domestic producers, including HMEL and MRPL, maintained prices regionally, while international PP and PE offers softened. Incentive schemes and maintenance shutdowns hint at attempts to stabilize the market, though bearish sentiment persists heading into May 2025.

Polymer prices in India reflect cautious trading amid global oversupply and weak demand. XINFA PVC K67 is at ₹64,000/MT in Bhiwandi; HDPE PE100 at ₹92,520/MT in Delhi. PP and PE segments are under pressure, with incentives failing to spur demand. Anti-dumping measures may offer limited support for PVC prices.

PP prices vary across India, with HALDIA PPCP Random at ₹1,06,250/MT in Delhi and MARLEX PPHP Raffia at ₹98,000/MT in Bhiwandi. Supply remains ample despite slight production cuts. Demand is slow but gradually improving. Global trade tensions and rising propane costs are driving raw material volatility and cautious market sentiment.