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India PE, PP prices stop rising on recession fears, large imports

August 12/2011

(ICIS) -- Indias polyethylene (PE) and polypropylene (PP) prices have stopped increasing this week, with large volumes of lower-priced imports purchased in July due to arrive in the country in the next three weeks, industry sources said on Friday.

In addition, volatile crude futures, which were triggered by fears of the US falling back into an economic recession, have resulted in a change in market sentiment.

Most local market players have retreated to the sidelines as a result of the incoming large supply and the uncertain market outlook.

Most offers for imports have been withdrawn and buying ideas were lower this week, causing a standstill in the domestic market, market players said.

The Indian import prices of linear low density PE (LLDPE) film, high density PE (HDPE) film, low density PE (LDPE) film and PP raffia have increased by USD 95-185/tonne (EUR 67-130/tonne) or 6.3-14.9% from early July to 5 August, according to data from ICIS.

Tags:PP, PE.
Category:General News
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