Daily Market Report

Polyethylene prices across HDPE, LDPE, and LLDPE remained weak as global offers fell further and domestic demand softened after festive restocking. Imports increased, supply pressures remained high, and downstream buyers restricted purchases. Despite crude stability, sentiment stayed bearish, with major producers offering additional discounts, indicating continued softness in December.

Polymer markets remain weak, with PP and PE demand subdued and PVC facing fresh downside after India’s decision not to impose ADD. RIL announced PVC price protection, while international PVC offers dropped sharply. Imports are set to slow in December, and most polymers appear near bottom levels, encouraging stocking interest.

PVC SG5 prices have swung sharply from ₹70,250 to ₹62,500 within a month, reflecting a buyer’s market driven by weak demand and oversupply. European markets are also under pressure due to Asian export inflows and soft construction demand. Anti-dumping actions may affect trade flows but offer limited short-term relief.

PET bottle chip prices showed mixed movement during early November, with a mild recovery driven by rising crude and PX costs. Demand remains weak due to the seasonal lull and cautious procurement by end-users. Supply remains ample, and the short-term outlook is stable to slightly firm, supported by feedstock recovery and moderate operating rates.

Polypropylene (PP) prices continued to decline amid weak demand, high inventories, and subdued global sentiment. Domestic producers reduced prices to clear stocks, while feedstock propylene costs softened. Despite slight sentiment improvement from trade developments, oversupply persists, keeping the PP market range-bound with limited recovery expected through November 2025.

Global polyethylene (PE) prices remained largely stable through mid-October 2025, with Asian markets showing marginal declines and U.S. prices holding steady. Supply remained sufficient despite limited demand recovery. Higher crude oil costs offered some support, but overall market sentiment stayed cautious amid weak downstream activity and moderate import interest.

European PVC prices softened amid weak demand and sufficient supply, while China reported a modest rise in imports reflecting gradual recovery. Feedstock trends remained mixed, with ethylene declining and EDC/VCM firming slightly. The market is expected to stay range-bound with limited volatility and stable-to-soft sentiment across regions.

Polyethylene and Polypropylene prices softened in early October amid weak downstream demand, high inventories, and muted buying in Asia. While crude oil strength offered limited cost support, both domestic and imported prices trended lower. Market sentiment remains cautious, with limited restocking expected until post-Diwali demand recovery.

Indian PET prices steadied at ₹88/kg by late September, while China PET bottle chip prices rebounded slightly to 5,900 RMB/ton after early-month weakness. Oversupply and weak downstream demand keep market activity muted. Falling crude oil and PTA costs weigh on margins, limiting the scope for a sustained price recovery.

Polypropylene (PP) prices in India remained flat at the end of September despite seasonal demand pickup. Abundant supply, steady-to-soft upstream costs, and cautious downstream buying continue to weigh on the market. While certain grades see stable retail prices, the overall market remains under pressure with limited bullish triggers.

China and India PVC prices stayed weak amid oversupply and muted downstream demand. SG-5 carbide PVC averaged RMB 4,664/ton in China, while Indian spot offers hovered around ₹67,000–70,000/MT. Stable calcium-carbide costs and sluggish exports keep fundamentals soft, with near-term prices expected to remain range-bound.

Indian polymer markets showed mixed trends in September 2025. PET and PVC prices rose on strong packaging and construction demand, while PE and PP weakened due to subdued consumption in packaging, automotive, and textiles. Crude oil volatility remains a key factor shaping short-term price movement across polymer grades.