11 March 2011 08:37 [Source: ICIS news]
SINGAPORE (ICIS)--India’s demand for polyethylene (PE) film grades may weaken in the wake of a court ruling banning use of plastic wrapping in “gutka”, a type of tobacco widely consumed in the country, sources from the plastics industry said on Friday.
The ban issued by the Supreme Court took effect on 1 March, but will be fully in place from 1 April.
Gutka packaging annually uses up an estimated 50,000 tonnes of low density PE (LDPE), linear low density PE (LLDPE) and high density PE (HDPE), industry sources said.
It was too early to gauge the impact of the ban on actual demand, traders and end-users said.
Spot prices for the low density polyethylene (LDPE) film grade were at around $1,780-1,800/tonne CFR India this week, about $10/tonne (€7.2/tonne) higher compared to last week’s values, while LLDPE prices were heard at $1,430-1,470/tonne CFR India, market sources said.
($1 = €0.72)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections