Indian PVC producer hikes domestic prices by 5%

30 January 2009 08:06  [Source: ICIS news]

SINGAPORE (ICIS news)--A key polyvinyl chloride (PVC) producer in India has raised its domestic prices by around 5% due to firm buying interest from the pipe sector, traders and producers said on Friday.

The increase of  Rupees (Rs)2/kg effective 29 January will bring prices to around Rs42.50/kg EXW (ex-works) ($0.86) excluding taxes, market sources said.

Global economic woes had failed to dampen India’s PVC pipe demand, driven partly by governmental infrastructure projects, a producer said. Local supplies were also tightening, evident by the increase in PVC import prices, the producer added.

Major PVC producers in India include Reliance Industries, Chemplast Sanmar and Finolex Industries.

($1 = Rs48.95)

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By: Ng Hun Wei
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