India C6 MLLDPE import prices stable amid sluggish market

SINGAPORE (ICIS)–India’s C6 metallocene linear low density polyethylene (MLLDPE) import prices were stable in the week amid sluggish domestic demand, market sources said on Wednesday.

Domestic prices for PE, including those of C6 MLLDPE, were comparatively lower than imports.

A southeast Asian supplier increased its offers for September arrival cargoes of non-dutiable C6 MLLDPE by up to $30/tonne to $1,300-1,310/tonne CIF India.

But spot offers and selling indications from distributors were unchanged at around $1,280-1,290/tonne CIF India.

In comparison, C6 MLLDPE cargoes were being sold in the domestic market at an equivalent price of $1,260-1,280/tonne (DEL), according to a local distributor.   

Some traders expect trading activity in India to slow down in the next two months due to various holidays leading to Diwali or Festival of Lights in October.

India is celebrating the festival of Hindu diety Ganesh from 25 August to 5 September.

However, buyers might resume their restocking activities before Diwali as their current inventories are relatively low, some market participants said.