The most popular Indian PP producer lowered its do

2022-08-03
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Indian PP producers cut their domestic quotations in August according to industry news, since August 1, major Indian PP producers have reduced their domestic market quotations because of weak demand prospects

people familiar with the matter said that the domestic PP quotation of Reliance Industries has decreased by 4 linoleum tiles jc/t503 ⑴ 996000 rupees/ton (US $58/ton), and the new price has been implemented since August 1

Indian oil company, Haldia Petrochemical Company and other large Indian PP producers have taken the same measures

after the price is reduced by 4000 rupees/ton, the ex factory price of Reliance Industries' drawing grade PP in the domestic market is 85730 rupees/ton (US $1195/ton)

the ex factory price of injection grade PP is 87860 rupees/ton (about US $1233/ton), and that of biaxial tensile PP (BOPP) is 89600 rupees/ton (about US $1259/ton)

according to Platts energy information data, the price of drawing grade ppcfr exported from Southeast Asia to the Indian market on July 29 was US $1150/ton

before the PP price was lowered, the Indian manufacturer had announced that it would implement a price protection scheme for domestic customers during July. The manufacturer agreed that if the quotation was lowered on August 1, the previous purchase price difference would be returned

this strategy is to attract buyers. Otherwise, buyers are likely to suspend their purchases and wait for the quotation to fall under the action of the increasing magnetic force along the slope

according to industry news, in the second half of the third quarter, India's PP demand will remain weak, because India is in the seasonal rainy season, China's demand is also declining, and the supply from the Middle East is very sufficient

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