India PVC rises by 5% on increased demand

06 February 2009 10:16  [Source: ICIS news]

NEW DELHI (ICIS news)--Indian polyvinyl chloride (PVC) producers have hiked prices by 5% for the second time in two weeks due to a resurgence in buying activity, producers said on Friday.

Indian PVC prices were hiked by rupees (Rs) 2/kg ($0.04/kg) to Rs44.50/kg EXW (ex-works) this week, following a similar increase last week.

"Demand from the irrigation segment is very strong and supply is quite limited, giving us an opportunity to revise prices upward," said an Indian producer.

The producer was speaking on the sidelines of PlastIndia 2009, India's largest plastics exhibition and conference.

The successive price hikes in the space of two weeks prompted an outcry among buyers.

"It is very hard for us to negotiate with our customers when our raw material costs rise so erratically and frequently, without any warning," said a PVC processor.

Major Indian PVC producers include Reliance Industries, Finolex Industries and ChemPlast Sanmar.

PlastIndia 2009, which is held every three years, started on 4 February and ends on 9 February.

($1 = Rs48.71) 

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By: Prema Viswanathan
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