India’s Reliance raises PE, PP list prices for third week

24 November 2011 10:45  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Reliance Industries Limited (RIL) has increased its domestic list prices for polyethylene (PE) and polypropylene (PP) by Indian rupees (Rs) 1.50-2.50/kg - its third price hike in three weeks, industry sources close to the company said on Thursday.

RIL announced to customers late on 23 November an increment of Rs2/kg for all PP grades and an increment of Rs1.50-2.50/kg for the prices of all PE grades, taking into account a further depreciation of the Indian rupee, they said.

The revised PE prices are at Rs91.00–92.00/kg ($1.74-1.76/kg) DEL (delivered) for low density PE (LDPE) film, Rs81.50–82.50/kg DEL for linear low density PE (LLDPE) film, Rs82.50–84.00/kg for HDPE film, inclusive of 10.3% excise duty, with effect from 24 November.

PP prices now stand at Rs89.50–90.50/kg DEL for raffia grade, while the prices of injection grade are at Rs89.00–91.00/kg DEL and Rs90.50-92.00/kg DEL for isotactic PP (IPP) film.

Prices of bi-axially oriented polypropylene (BOPP) film are at Rs90.50-91.50/kg DEL and Rs92.00-92.50/kg DEL for block copolymer grade, inclusive of 10.3% excise duty, with effect from 24 November.

“The increase in list prices is inevitable because of the weaker rupee currency,” a source close to Reliance said.

Trading activity in the domestic polymers market was brisk despite Reliance’s hike in list prices, as imports are still deemed too expensive, Indian traders said.

($1 = Rs52.38)


By: Ong Sheau Ling
+65 6780 4359



AddThis Social Bookmark Button

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.

Printer Friendly

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