POLYMER WEEKLY OUTLOOK

Indian Subcontinent:
The Indian market experienced significant inactivity last week as buyers shifted their focus to the upcoming Diwali
holidays. Major international suppliers have postponed their offers for India until after the holiday period. Only a
limited number of quotations were received from Middle Eastern suppliers, resulting in buyers remaining sidelined
throughout the week.

In contrast, domestic suppliers adopted an aggressive approach, successfully selling substantial quantities in the
FAE/SEA segments to help balance local inventories. Due to the depreciation of the local currency, domestic
processors are increasingly inclined to source materials locally. Additionally, ongoing reductions in raw material
prices have led buyers to exercise caution in their purchasing decisions to mitigate potential inventory losses.
In Bangladesh, despite ongoing political instability and currency depreciation, the market showed some signs of
activity last week.

China:
Supported by stimulus package and upcoming New Year sales, the Chinese packaging sector anticipates strong
demand. Domestic inventory has decreased by around 11% but remains higher than last year. PP market remains
weak, with buyers focusing on lower-cost import options. Demand has slightly increased with inventory reduction,
but major PP yarn producers are still buying conservatively, expecting further price drops. Fiber and non-woven
demand is rising as the cold season approaches. Due to upcoming domestic capacity primarily in homopolymer, the
price gap between PPCP and homopolymer is expected to widen. HDPE availability remains tight, while LLDPE and
LDPE import prices are trending down as the Chinese yuan depreciates. To clear year-end inventory, the U.S. is
actively offering products to China. In the PVC market, FOB prices are declining as local suppliers encounter
significant resistance when exporting to the Indian subcontinent and Middle Eastern countries, primarily due to
ongoing freight issues. In the polypropylene (PP) sector, Chinese exporters have been compelled to lower their
offered prices in the Middle East and Indian subcontinent regions as a result of the recent increase in freight rates.
Southeast Asia:
Soft crude oil prices, an appreciating dollar, and slow movement of finished products have dampened buying
sentiment in the region. The polyethylene (PE) market remained generally weak, with tight supplies of LDPE and
LLDPE due to unplanned plant shutdowns in Vietnam, while HDPE was widely available. Demand has shown no
improvement from last week in PP. Exports from China may be impacted by higher rates. In polypropylene (PP),
suppliers are attempting to maintain margins but face strong buyer resistance.

Turkiye/Europe/Africa:
In Türkiye, the polypropylene (PP) market has remained steady to soft, with a continued downward trend in raffia
prices. Prices for fiber remain relatively stable. In the polyethylene (PE) segment, U.S. suppliers have begun offering
competitive rates to clear their inventory.
In Europe, domestic manufacturers are assessing their assets related to polyethylene due to narrowing profit
margins.
In Africa, strong demand has been observed as the year-end festivities approach