Indian polymer prices cut 7% to spur buying

08 October 2008 05:24  [Source: ICIS news]

SINGAPORE (ICIS news)--Indian polymer producers have slashed prices by as much as 7% for October cargoes, in a bid to spur buying, suppliers and traders said on Wednesday.

 

Prices of polypropylene (PP) were reduced by Indian rupees (Rs) 4-5/kg to Rs70.50-77.70/kg EXW (ex-works), and low density polyethylene (LDPE) prices were slashed by Rs5/kg to Rs92.05/kg EXW, market sources said.

 

High density PE (HDPE) film and linear low density PE (LLDPE) were down by Rs3-4/kg to Rs81.86/kg EXW and Rs75.66/kg EXW, respectively, while polyvinyl chloride (PVC) prices were Rs3/kg lower at Rs60.50/kg EXW, they said.

 

Polymer demand has been weak in India despite the advent of the festive season this month, traditionally a period of strong demand.

 

Major polymer producers in India include Reliance Industries, Haldia Petrochemicals Ltd and Finolex Industries.

 

($1 = Rs48.26)

 

For more on PP, PE and PVC visit ICIS chemical intelligence

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By: Prema Viswanathan
+65 6780 4359

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