Daily Market Report

ABS prices continued to soften across Asian markets, led by oversupply, lower feedstock costs, and subdued demand from converters. In India, prices remain relatively stable due to limited spot cargoes despite global weakness. Persistent bearish sentiment, high inventories, and cautious downstream activity suggest further price erosion in the near term.

Imported PVC K67 prices at Mundra range from ₹63,900–₹68,250/MT, varying by origin. Despite brief stabilization, April ended with a 4.7% price drop. Elevated inventories, high production rates, and weak futures continue to weigh on sentiment. The market remains bearish, with limited downstream interest and weak cost support in May 2025.

PET bottle flake prices in Asia show slight volatility amid oversupply and weak demand. Indian PET prices remain range-bound, with Hyderabad reporting the highest. High production rates, ample feedstock, and sluggish end-user demand are capping price growth. Market remains bearish, but oil price rebounds could offer limited upside.

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.

ABS prices stayed firm across Indian cities, but global market sentiment remains weak due to oversupply and sluggish demand from automotive and appliance sectors. Despite stable raw material costs, producers face margin pressures. Europe’s structural issues and Asia’s high inventories continue to suppress price recovery, signaling a cautious near-term outlook.

PVC prices slipped slightly this week, with China's SG-5 averaging $655.48/ton, down 0.48%. Demand stayed weak across Asia and Europe, while US export prices held steady amid trade uncertainty. Stable production and low downstream activity kept the market sluggish. Market players expect PVC prices to stay range-bound in the near term due to weak demand and geopolitical pressures.

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.

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.

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.