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Slump in polyolefin market expected to continue in Q3

11
Jul '09
The Indian polyolefin market had exhibited uncertainty during second quarter of 2009 and is expected to remain slow in the third quarter as well.

The market witnessed a decline in demand during the last quarter as financial crunch hit the industrial customers and the upcoming projects.

Market sentiments for olefin were also affected due to deteriorating environment of petrochemical industry.

The growth potential of India's polymer and petrochemical industry has not completely materialized largely due to the high excise duty rate on petrochemicals.

Futures contracts expiring in 2010 remain optimistic relative to 2009. The markets are expected to remain uncertain in the third quarter.

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Fibre2fashion News Desk - India


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