Polymer players: Demand remains slow in India
A Delhi-based PVC trader stated that trading activities remained slow after the implementation of GST. “Although there are some buyers who started to make some small purchases, the overall buying interest is low given the GST implementation along with the monsoon season,” he added.
A Taiwanese PVC producer source also pointed out that demand from India is still weak while other regions are doing well.
As for PP, a source from a Taiwanese producer said, “We heard from our customers that Indian buyers are not purchasing much due to the uncertain market conditions based on the recent implementation of GST.”
A Chinese PE trader remarked that Indian PE prices in China are very low and attributed this to slow demand in India stemming from the new taxation system.” Indian producers are exporting materials at competitive levels in order to clear their inventories,” he said.
Although there were earlier expectations about seeing an improvement in demand in August, it is not giving any signals of it for the rest of July.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- March hints at further hikes in European PP, PE markets
- India’s PVC market dips to new lows on Taiwan’s March cuts, players seek signs of bottom
- Q1 turnarounds uplift Mid-East PP, PE markets in February; will it spill over to March?
- SE Asia’s indefinite PE shutdowns: A market in crisis as demand woes threaten survival
- Türkiye’s PPH markets perform better than copolymers in February
- Margin recovery priorities outweigh supply imbalances in European PVC markets
- Asian PVC demand stagnant; recovery hopes shift to end of Q1
- Tough slog in S Korea’s petchem industry spells disappointing 2024 financial results; will government's recent plan help weather the storm?
- China’s PP, PE markets face post-holiday supply surge and tepid demand
- A tug-of-war unfolds in Türkiye as PVC demand struggles against rising costs