As predicted and hinted in "Market Update with Pragat Dvivedi telecasted on 28th June, on Ply Reporter's FB and You Tube channels, the prices in decorative laminates are witnessing the reduction. Now the first letter has been issued by Virgo Laminates who have slashed the prices of laminates with softening prices of different raw materials in the last 15 days.
On 11th July, The Ply Reporter accessed the letter issued by Leading Laminates Manufacturing brand, Virgo Laminates, who has announced the price reduction with effect in different laminate categories. The letter mentions " as promised we will be the first company to come forward to reduce the prices when prices will begin to soft, we are announcing the price reduction". Speaking to the Ply Reporter Mr SP Arora, said that Virgo has largest capacity with 42 stock points operated by company, and this reduction is in tandem with RM cost.
In reports publised by The Ply Reporter, it was reported that prices of Melamine, B- Grade Kraft paper, Methanol etc have been reduced in the last 15 days. It was also observed that a few laminate companies started passing the reduction during last 2 weeks but the Virgo's official confirmation validates the trend. Trade experts also indicate that due to a slowdown in demand for materials, the producers are reducing prices to maintain their sales tally.