PP price protection resumes in India's domestic market - Reliance

23 June 2011 13:52  [Source: ICIS news]

SINGAPORE (ICIS)--India-based Reliance announced that the price protection for its customers on polypropylene (PP) purchases will resume on Thursday for domestic goods in a bid to curb bearish buying sentiment, a source close to the company said.

Reliance’s protections on polyethylene (PE) and PP prices for its customers were stopped from 2 June.

The existing PP list prices are at Indian rupee (Rs) 82/kg ($1.83/kg) DEL (delivered) for injection, Rs83/kg DEL for raffia, Rs84/kg DEL for isotatic PP (IPP) film, Rs84-85/kg DEL for biaxially oriented PP (BOPP) film and Rs88/kg DEL for block copolymer, inclusive of excise duty, effective from 14 June.

The Indian major reduced PP prices by up to rupee (Rs) 4/kg on high stock levels and fierce competition from imports.

($1 = Rs44.79)

By: Ong Sheau Ling
+65 6780 4359

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