India PE, PP upbeat on strong demand, tight supply
10 July 2007 10:39 [Source: ICIS news]
SINGAPORE (ICIS news)--Robust demand and extremely limited availability are set to support higher Indian polyethylene (PE) and polypropylene (PP) prices in July, suppliers, traders and end users said on Tuesday.
Strengthening ethylene and propylene feedstock and crude values also lent support to the bullish markets, traders said, while suppliers said the main demand drivers were coming from packaging and pipes segments.
Indian producers have raised prices of most grades of PE and all grades of PP for July shipment by Indian rupees (Rs)1-1.50/kg ($0.02-0.04/kg) as supply was unable to keep pace with demand.
PP prices went up by Rs1/kg; HDPE film grade prices were hiked by Rs1.50/kg due to exceptionally strong demand and tight supply for this grade; and HD pipe, blow moulding and injection grades were raised by Rs1/kg.
Only prices of low density PE (LDPE) were rolled over, as demand was not as strong for this PE grade.
Prices of polystyrene (PS) and polyvinyl chloride (PVC), however, remained unchanged due to a seasonal lull in demand, despite restricted supply and rising feedstock costs.
Seasonal demand for PS and PVC in
Supply for all polymers has been tight in
Major Indian polymer producers include Reliance Industries, Haldia Petrochemicals, Finolex Industries and Supreme Petrochemicals.
($1 = Rs40.22)
(Jeremiah Chan contributed to this article)
By: Prema Viswanathan
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