02 December 2011 07:45 [Source: ICIS news]
SINGAPORE (ICIS)--India’s Reliance Industries Ltd (RIL) has kept its December list price for polyvinyl chloride (PVC) at Indian rupees (Rs) 63/kg ($1,224/tonne, €906/tonne) on a delivered basis, taking into account the rupee’s depreciation, industry sources said on Friday.
The price was a rollover from November levels despite relatively healthy domestic sales reported for the past couple of weeks, as the Indian rupee has lost 4.5% of its value against the US dollar since the start of November.
“There is a little hesitation in purchase compared with past couple of weeks,” said a company official.
“However, domestic demand from downstream pipe sector is expected to remain good for the rest of the year,” the source added.
The import parity of Reliance’s December list prices for PVC was about $970/tonne CFR (cost and freight) India, market sources said.
($1 = Rs51.47 / $1 = €0.74)For more information on PVC, visit ICIS chemical intelligence
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