India’s import PE market slips to multi-week lows ahead of May offers from Mid-East

India’s import PE market has come under fresh pressure, as sluggish local consumption and fragile sentiment have continued to weigh on import prices. Sources noted that recent US tariff measures have added to concerns over trade flow shifts, further dampening confidence in the market.

Middle Eastern-origin PE prices fell to multi-week lows, with LDPE film assessed at $1160-1190/ton CIF India, stable to $10/ton lower from a week earlier . HDPE film dropped by $20/ton on both ends of the range to $930-960/ton, while LLDPE film held steady at $950-980/ton. These levels mark a one-month low for LDPE, an 11-week low for HDPE, and a 10-week low for LLDPE, according to ChemOrbis Price Index data.

A trader highlighted the persistent bearish tone in the market, noting that even traditionally stable segments like packaging film were seeing limited buying interest. “The March CPI at 3.34%, the lowest since August 2019, points to weakening consumer activity,” he said.

Turnarounds help cushion price drops

Despite sluggish demand, sharper price declines were capped by tightening supply. Multiple Indian producers are undergoing plant maintenance this month, including facilities in Haldia, Pata, Dibrugarh, and Panipat. These shutdowns have curbed domestic output for LDPE, LLDPE, and HDPE grades. Meanwhile, supply constraints were also reported in the Middle East amid the ongoing turnaround season.

A trader commented, “Players remain cautious. Demand is expected to stay muted in the short term, but the ongoing regional and local turnarounds could help limit further downside. All eyes are now on May pricing announcements from major Middle Eastern suppliers. Any proposed increases will likely face resistance unless there is a meaningful improvement in buying appetite.”