India producers roll over PVC, PS in September

05 September 2007 07:50  [Source: ICIS news]

SINGAPORE (ICIS news)--Indian producers have rolled over prices of polyvinyl chloride (PVC)  and polystyrene (PS) for September shipment as demand continued to be lacklustre due to a prolonged monsoon season, producers said on Wednesday.

 

“We had hoped that markets would turn bullish in September when the peak festival demand season begins but that has not happened yet,” a PVC producer said.

 

In August, Indian producers raised PVC prices by 3%, or rupees (Rs) 1.50/kg ($0.04/kg) to Rs48/kg ex-works (EXW) on the back of low customer inventories and strengthening import prices, which is where they now stand for September. ­

 

Indian producers rolled over polystyrene (PS) prices in August from July at Rs69.50/kg EXW for general purpose PS (GPPS) and Rs72.50/kg EXW for high impact PS (HIPS), which is also the September price.  

 

Seasonal demand for PVC and PS in India generally wanes with the onset of the monsoon season, which stretches from June to August. But this year, the monsoon season has extended into September, dampening demand.

 

“Buyers have been keeping away from the market, waiting for market sentiment to improve,” said a PS producer.

 

Major PVC producers in India include Reliance Industries and Finolex Industries. 

Key Indian PS producers include Supreme Petrochem and LG Polymers.

By: Prema Viswanathan
+65 6780 4359

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