Global indicators continue to support polymer buyers, while domestic PP prices are moving in the opposite direction
Progress in U.S.-Iran negotiations has reduced concerns over supply disruptions in the Middle East. Measures to keep the Strait of Hormuz operational have improved confidence across energy and petrochemical markets. Meanwhile, Brent crude oil remains below USD 80/bbl at around USD 78.80/bbl, and the Indian Rupee has strengthened to ₹94.60/USD, improving import economics for polymer buyers. Polymer China Futures 🟢 PP: USD 986/MT (-32)🟢 LLDPE: USD 934/MT (-20)🟢 PVC: USD 592/MT (-12) At the same time, producers have announced a ₹1/kg increase in PP Domestic and Deemed prices effective 22 June 2026. Market Interpretation The market is currently balancing two opposing forces. Global indicators such as lower crude oil prices, a stronger Rupee and weaker polymer futures continue to favour buyers. However, domestic PP pricing remains supported by supply-side considerations and producer margin recovery efforts. As a result, domestic prices may not immediately follow the weakness seen in international markets. Key Watch The next major trigger for the market could be the Government's decision on polymer duty exemptions beyond 30 June 2026. If duty exemptions are not extended, imported polymers may become costlier, providing additional support to domestic prices despite weaker global market trends. PolyMart Suggestion ✅ Procure polymers based on actual production requirements.✅ Avoid panic buying despite the domestic PP increase.✅ Monitor upcoming producer announcements and import parity.✅ Track developments on import duty policy closely. PolyMart View The market remains favourable for buyers overall, but the PP price increase shows that domestic pricing may maintain current pricing conditions for the short term. The upcoming duty policy decision could have a greater impact on July polymer prices than crude oil movements alone.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.
