SupplyMonday, 4 May 2026·India
India polymer market splits as PVC rebounds while PP and PE continue to decline
India’s polymer market showed a mixed trend this week, with domestic PVC prices moving higher after several weeks of decline, while polypropylene (PP) and polyethylene (PE) continued to weaken.
PVC, especially the widely traded K67-68 suspension grade, reversed its downward trend after falling steadily for four weeks. Prices, which had climbed to multi-year highs in late March before correcting through April, rebounded with an increase of INR 2,000 per ton ($21/ton) at the start of May.
In contrast, the polyolefins segment remained under pressure, with producers announcing further price reductions to stimulate demand. PP raffia prices were cut by INR 7,000 per ton ($74/ton), while LLDPE film grades saw steeper declines in the range of INR 7,000–9,000 per ton ($74–95/ton). Other LLDPE grades were reduced by INR 5,000 per ton ($53/ton). LDPE film prices dropped by INR 7,000–8,000 per ton ($74–84/ton), while HDPE film and blow molding grades recorded smaller decreases of around INR 2,000 per ton ($21/ton).
These reductions follow an earlier round of aggressive price corrections in mid-April, when domestic producers significantly lowered PP and PE prices to align with softer regional trends and revive buying activity.
Supply-demand imbalance drives divergence
The contrasting price movements highlight a growing imbalance in supply and demand across polymer segments. In the case of PP and PE, ample availability across India and China has exceeded downstream requirements, forcing producers to adjust prices downward to more sustainable levels.
PVC, however, has moved in the opposite direction due to tighter availability, particularly for ethylene-based grades in the regional market. This supply constraint has allowed prices to recover despite the overall weak sentiment in the broader polymer market.
As a result, India’s polymer landscape is currently split, with PVC showing resilience while polyolefins continue to face downward pressure driven by oversupply and cautious demand.
Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211.
PVC, especially the widely traded K67-68 suspension grade, reversed its downward trend after falling steadily for four weeks. Prices, which had climbed to multi-year highs in late March before correcting through April, rebounded with an increase of INR 2,000 per ton ($21/ton) at the start of May.
In contrast, the polyolefins segment remained under pressure, with producers announcing further price reductions to stimulate demand. PP raffia prices were cut by INR 7,000 per ton ($74/ton), while LLDPE film grades saw steeper declines in the range of INR 7,000–9,000 per ton ($74–95/ton). Other LLDPE grades were reduced by INR 5,000 per ton ($53/ton). LDPE film prices dropped by INR 7,000–8,000 per ton ($74–84/ton), while HDPE film and blow molding grades recorded smaller decreases of around INR 2,000 per ton ($21/ton).
These reductions follow an earlier round of aggressive price corrections in mid-April, when domestic producers significantly lowered PP and PE prices to align with softer regional trends and revive buying activity.
Supply-demand imbalance drives divergence
The contrasting price movements highlight a growing imbalance in supply and demand across polymer segments. In the case of PP and PE, ample availability across India and China has exceeded downstream requirements, forcing producers to adjust prices downward to more sustainable levels.
PVC, however, has moved in the opposite direction due to tighter availability, particularly for ethylene-based grades in the regional market. This supply constraint has allowed prices to recover despite the overall weak sentiment in the broader polymer market.
As a result, India’s polymer landscape is currently split, with PVC showing resilience while polyolefins continue to face downward pressure driven by oversupply and cautious demand.
Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211.