India's PE Import Market Extends Recovery for a Third Straight Week

India's imported PE market continued to strengthen this week, extending its recovery for the third consecutive week after several months of declining prices. Firmer domestic resin prices, higher import replacement costs, and elevated freight charges continued to support import offers, particularly from Middle Eastern suppliers. Despite the improving market, buyers remained cautious as processing margins stayed under pressure.

The latest gains indicate that the market is gradually moving away from the prolonged correction that followed the sharp rally seen earlier this year. After prices weakened for nearly three months, stronger replacement costs and improved supplier confidence have helped restore upward momentum to the import market.

Middle Eastern producers maintained a firm pricing strategy by keeping spot availability limited. Combined with higher logistics costs, this allowed suppliers to hold their offers despite softer crude oil and regional ethylene prices during the week.

Among the major PE grades, LDPE film recorded the strongest improvement, supported by tight global availability of high-pressure PE material. LLDPE film also moved higher, while HDPE film registered comparatively moderate gains but remained supported by the overall positive market sentiment.

Buying activity, however, remained measured. Most processors continued purchasing only immediate requirements as profitability remained constrained. Even so, consistent demand from flexible packaging, industrial film applications, and preparations for the upcoming festive season helped sustain market activity and absorb higher-priced import cargoes.

Looking ahead, market participants believe replacement costs, freight rates, and domestic pricing trends will continue to influence import PE values, while buying is expected to remain selective until converter margins show clearer signs of improvement.

Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211.