Indian PVC players: Expected demand revival may not arrive in Sept
Sellers were initially hopeful about seeing better demand in September in line with the end of the monsoon season; however, nowadays they mostly concur that several holidays in the September-October period including Diwali Holiday (starting on October 18 to continue for 5 days) are expected restrain the expected improvement until the end of October.
A trader in Mumbai said, “Demand remains quite slow in India given the monsoon season as well as the GST implementation and we think it will improve after Diwali Holiday.”
Another trader commented, “End-users are not in a hurry to make purchases given holidays in September and October. For this reason, we think demand will remain mostly stable in September and we will see the peak season either in the end of October or in November. It is hard for producers to make sales while traders are also unable to raise their offers further.”
A third trader said, “We don’t think demand will improve in September given the present impacts of the monsoon season and the GST implementation.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Europe PVC prices lag behind global markets, upward pressure mounts
- PS, ABS markets take respite from rising streak in China, SEA
- Muted demand in Europe paves way for plenty of PP, PE offers in Turkey
- Import PE uptrend persists in China despite bearish winds mounting in local market
- 3-digit hikes in Oct PVC offers reinforce supply-driven bullishness in Asia
- Crude oil caught between demand woes and production disruption
- Tightness drives European PVC market up, prices near pre-pandemic levels
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures