Saudi Major Lowers December PP & PE Offers to Indian Subcontinent as Market Weakness Deepens

A leading Saudi petrochemical major has reduced its December polypropylene (PP) and polyethylene (PE) offers to the Indian subcontinent by $20–30/ton, aligning with expectations amid persistent market softness. The revision comes as buying activity remains sluggish, with Indian buyers actively seeking additional discounts of $20–30/ton before concluding deals. The offer cuts now effectively set the pricing tone for December, with industry analysts anticipating similar reductions from other Middle Eastern suppliers in the coming days. Market participants continue to express caution, noting the possibility of an extended period of price weakness driven by subdued downstream demand and comfortable regional inventories. In the domestic market, PP Raffia closed at ₹81.50/kg, though it remains lower across monthly, quarterly, and annual comparisons. T he grade continues to trade far below the ₹98.00/kg high recorded in April 2025. LLDPE prices also softened, settling at ₹84.50/kg, matching the segment’s yearly low. The material declined 1.17% during the week and 2.87% over the month, reflecting the sharp correction from its October peak of ₹97.00/kg.With buyers maintaining a wait-and-watch approach and upstream costs showing stability, polymer markets in the Indian subcontinent appear poised for a muted finish to 2025.Disclaimer: PolyMart does not offer guarantees regarding the accuracy, reliability, or completeness of the information provided on its platform. Users are advised to independently verify any data before relying on it for decision-making purposes.