Middle Eastern Producer Issues New PP Film Offers to India Amid Tightening Supply

A Middle Eastern producer has recently announced new offers for polypropylene (PP) film to the Indian market. This move highlights the competitive nature of import supplies in the region. However, specific details such as volumes, netback, and buyer responses remain undisclosed due to access restrictions on the public article page.

The announcement comes at a time when PP prices are experiencing a surge across Asia, driven by geopolitical tensions in the Middle East. These tensions have disrupted feedstock flows, particularly through the Strait of Hormuz, leading to reduced spot and contract allocations by several producers. As a result, PP film prices in India have seen a week-on-week increase, assessed at USD 1290-1380/mt CFR levels, reflecting a rise of USD 20/mt from the previous week.

Despite the price hikes, downstream converters are cautious due to rising raw material costs impacting profit margins. Buyers have shown resistance to higher offers, resulting in measured trading activity. Nonetheless, the tightening supply-demand balance is providing underlying support to the market, with some buyers attempting to secure cargoes ahead of upcoming holidays.

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