15 April 2011 05:09 [Source: ICIS news]
SINGAPORE (ICIS)--India’s Reliance Industries has rolled over its domestic polyethylene (PE) prices on 13 April, citing a competitive price level at the moment despite the appreciation of the Indian rupee, a source close to the company said on Friday.
Prices of high density PE (HDPE), linear low density PE (LLDPE) and low density PE (LDPE) were steady at Rs76,000/tonne ($1,711/tonne) delivered (DEL), Rs77,000/tonne DEL and Rs97,000/tonne DEL, respectively.
“We don’t see a need to adjust the PE prices since the current price levels are acceptable at the market,” the source said.
Homopolymer grade PP slipped by Rs2,000/tonne and block copolymer grade PP decreased by Rs3,000/tonne.
“There is inconsistency in the polymer market because the demand in PP is actually better than PE, but supply in PP is more than PE. We can’t see the reason of volatile price currency as justification for the new prices,” a converter based in northern India said.
($1 = Rs44.41)
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