Polymer Price Adjustments in India Amid Mixed Futures and Discounts

The Indian polymer market is experiencing notable price adjustments, with early bird discounts and reductions in certain polymer grades. Reliance Industries Limited (RIL) and IVL Dhunseri are offering a ₹2/kg discount on PET, valid until August 15, reflecting a strategic move to stimulate demand.

In terms of futures, the market opened with mixed signals. Polypropylene (PP) futures started lower at 8100 RMB/MT, and linear low-density polyethylene (LLDPE) futures also opened lower at 7666 RMB/MT. Conversely, polyvinyl chloride (PVC) futures showed an upward trend, opening higher at 4505 RMB/MT. This divergence indicates varying expectations across different polymer segments.

Supreme Petrochem has announced a price reduction of ₹3/kg for both general-purpose polystyrene (GPPS) and high-impact polystyrene (HIPS), effective from August 10. This move could be a response to the current market dynamics and competitive pressures.

Despite these domestic adjustments, global sentiment remains weak, with international offers for PP and PE declining. However, domestic producers in India maintain pricing power due to stable local demand and expectations of improved downstream consumption in the coming months.