Polymers & Packaging News Today

Polymer markets show price firmness but weakened buying momentum after recent hikes by RIL. Converters are drawing inventories cautiously while evaluating March strategies. Stable domestic supply and competitive PVC imports persist. US tariff rationalization and the India–EU FTA enhance long-term export competitiveness, supporting structural growth for Indian processors.

Domestic PP prices remained firm, but buying momentum slowed as elevated levels triggered caution among converters. Adequate supply and approaching holiday shutdowns tempered demand. Strong upstream costs continue to support prices, though the market is entering a consolidation phase with limited upside in the near term.

Asian polymer prices strengthened as aggressive pre-Lunar New Year buying in China and multiple plant maintenance schedules tightened regional supply. Despite softer ethylene feedstock, prices rose on demand pull. India’s import dependence, higher landed costs, and limited inventories continue to support firm spot prices.

PVC prices remain largely stable across China and India, with imported offers in India staying competitive, led by Chinese-origin cargoes. Despite producer price hikes by Formosa and expectations of a domestic increase, demand remains cautious amid ample supply. China’s proposed VAT rebate removal and a strong dollar lend medium-term support, though near-term buying sentiment stays restrained.

PET bottle flakes prices in China remained broadly stable after a brief rise and correction. Adequate supply, cautious downstream buying, and limited pre-holiday restocking capped upside. Regional tightness in South China provided support, but overall sentiment stayed weak-to-rangebound.

India’s PP raffia market remains stable even as China sees declining prices due to oversupply and cautious demand. Feedstock cost movements stayed mild, and high utilisation rates in China kept inventories elevated. Domestic incentives and planned plant shutdowns may briefly influence availability, but overall fundamentals point to a soft, rangebound PP market through mid-December.

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.