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

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