India's Polypropylene is trending downwards as producers are under the pressure of clearing stocks to avoid inventory pileups. Daily bulk prices were heard to be lower by INR 1-1.5 per kg, as announced by HPCL and RIL with effect from August 13, 2020. One of the players remarked that due to continuously changing market dynamics, the near-term outlook for PP resin seems highly uncertain. This is the second downward revision of the product within the month. RIL had earlier revised PP prices on 1st of August.
