Global PP & PE South Asia Polymer Offers

Import offers for polymers in South Asia have seen a notable decline, with prices for PP Film, Injection, and Raffia grades decreasing by $50/MT. PPCP prices have dropped by $60/MT, while HDPE Injection and Blow molding grades have seen a reduction of $25/MT. Similarly, LLDPE prices are down by $25/MT, all on a CFR basis for South Asia markets, including India.

This downward trend in polymer prices is occurring amidst broader challenges in the Southeast Asian market, where the chemical industry faces pressure from global overcapacity. Despite strong GDP growth in the region, the chemical sector, including polyethylene (PE) and polypropylene (PP), is struggling due to reduced export opportunities and increased imports from Northeast Asia.

The market is also affected by China's move towards self-sufficiency, which has significantly reduced Southeast Asia's exports of PE and PP. This shift has led to a decrease in operating rates for these polymers, with forecasts indicating continued pressure in the coming years.