Buyers' sentiments remain bearish despite producers lowering prices

Oct 17: The price reductions by Indian polymer producers seem not resulted in invigorating buyers' sentiments. Bearish sentiments continued to persist among polymer buyers in the country after the price reductions. With effect from today, Reliance Industries Limited, Indian Oil Corporation Limited, Haldia Petrochemicals Limited and GAIL (India) Limited lowered their polymer prices. The rates of price reductions are available in the 'Indian Prices' section of the website. However, buyers seem not to change their raw material procurement strategy, subsequent to the price reductions, and preferred to procure their plastic raw material requirement on need-basis, at least for the near term. 
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