01 July 2011 08:37 [Source: ICIS news]
(recasts second paragraph for clarity)
SINGAPORE (ICIS)--Indian producers have revised their list prices of all grades of polyethylene (PE) except those of high density PE (HDPE) blow moulding and pipe material, sources close to the companies said on Friday.
This is in line with the softer southeast Asia and ?xml:namespace>
“We [have] adjusted the prices in line with [the] softer southeast Asian and Chinese markets and also to remain competitive [with] the presence of [imports from the] Middle East,” a source close to Haldia Petrochemicals said.
Reliance Industries, GAIL (
The companies reduced their list prices by Indian rupee (Rs) 1/kg (Rs1,000/tonne, $22.4/tonne) for HDPE film, Rs2/kg for linear low density PE (LLDPE) film and Rs3/kg for linear density PE (LDPE) film with effect from 1 July.
The new prices are at Rs71.5-73/kg
The price protection was withdrawn with effect from 1 July, the sources added.
A price protection is applied when a buyer and a seller agree to fix the prices of specified goods for the duration of a contract.
Lower import prices of the materials have suppressed domestic discussions, the sources said.
Discussions for spot prices on a CFR (cost & freight)
“Although we [have] introduced the new reduced prices [that have] dampened market sentiment, buyers are still buying small lots. [This] shows there is demand,” a source close to GAIL said.
($1 = Rs44.62, $1 = €0.69)
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