21 July 2011 09:00 [Source: ICIS news]
SINGAPORE (ICIS)--Polyethylene (PE) makers in India have adjusted their list prices for the third consecutive week in July, bolstered by tight availability, industry sources close to the companies said on Thursday.
Reliance Industries, GAIL India and Indian Oil announced an increase of Indian rupee (Rs) 1-1.5/kg (22-26 cents/kg) for high density PE (HDPE) and Rs2/kg for linear low density PE (LLDPE).
Reliance raised its prices for low density PE (LDPE) by Rs2/kg.
Haldia Petrochemical (HPL) adjusted its offers for HDPE by Rs2/kg and LLDPE by Rs3/kg, an increment higher than the rest of the local producers because of a lack of material for sale during the ongoing shutdown at its PE facilities.
The new PE prices in India are at Rs76.50-79.00/kg DEL (delivered) for HDPE film, Rs77.00-78.00/kg DEL for LLDPE film and Rs88.00-88.50/kg DEL for LDPE film, including a 10.3% excise duty.
“Inventories are low among local producers, traders and even converters, and converters still want to restock, because they want to build up their stocks since prices have bottomed out,” a source close to Reliance said.
($1 = Rs44.48)
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