Daily Market Report

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.

PET bottle chip prices in China witnessed weak performance in early to mid-August, pressured by subdued market sentiment. By August 28th, average selling prices stood at USD 840/ton.

In the Chinese PE market, LLDPE averaged $1,041/ton on August 20 and $1,043/ton on August 27, marking a slight increase of 0.25%. LDPE prices also inched higher, averaging $1,346/ton on August 20 and $1,349/ton on August 27, reflecting a 0.17% rise. Meanwhile, HDPE remained stable throughout the period, holding firm at $1,120/ton.

Polypropylene (PP) prices stayed stable in Asian markets but weakened domestically with a 1% decline in August. Falling crude and propane costs reduced support, while higher output and inventories added pressure. Demand stayed sluggish amid seasonal lows and cautious buying. Experts expect a stagnant market in the near term.

U.S. Polypropylene (PP) export prices weakened this week due to oversupply and competitive Asian cargoes. Demand remains muted in overseas markets, while U.S. sellers face mounting inventory pressure and intensify price cuts. Market sentiment stays bearish with limited short-term recovery expected.

China’s PVC spot market saw minimal weekly movement, with early gains erased by week’s end. Prices remain range-bound as supply stays stable and demand weakens. Soft dealer offers, low inquiries, and volatile crude oil cap upside potential. Short-term outlook suggests continued narrow fluctuations without strong upward momentum.

PVC prices in India remain stable to slightly weak on muted downstream demand, while China sees firm prices supported by exports and futures sentiment. High plant operating rates are boosting supply in China, though sluggish domestic consumption limits upside. Global sentiment leans cautiously optimistic for August.

PE prices remained largely stable in July, with minor declines across LLDPE, LDPE, and HDPE. Demand stayed weak due to off-season consumption and cautious procurement. Supply increased as plants resumed operations. While sentiment improved slightly on policy support, strong price gains remain unlikely without a demand recovery.

PP prices remain under pressure amid weak demand and abundant supply. Domestic rates vary across India, with MRPL's lamination grade reaching ₹1,00,000/MT. China’s PP prices dropped 2.06% since early July. Limited cost support and upcoming capacity additions in H2 2025 are likely to keep the market rangebound and volatile.

ABS prices declined in China and remained range-bound in India amid weak demand and elevated inventories. Domestic supply is ample due to higher plant operations and restarts. Feedstock costs like acrylonitrile and styrene remain weak. With no clear upward triggers, ABS prices are expected to stay under pressure in the near term.

PVC prices remained flat or softened across Asia amid weak demand, seasonal monsoons, and cautious buying sentiment. China and Vietnam saw price corrections due to reduced construction activity. Indian demand stayed sluggish with adequate supply. Upcoming plant shutdowns may limit supply, but price recovery is expected post-monsoon.