08 December 2011 07:55 [Source: ICIS news]
This is in line with lower import offers announced late last week and the slight appreciation in the local rupee, the sources added.
RIL announced to customers late on 7 December a decrease of Rs1.00/kg for block copolymer PP and Rs2.00/kg for homopolymer PP, the sources said.
The revised PP prices are at Rs91.50–92.50/kg
The prices of isotactic PP (IPP) film are at Rs92.50-94.00/kg DEL.
The prices of bi-axially oriented polypropylene (BOPP) film are at Rs92.50-93.50/kg
On 8 December, the offers of Middle East-origin raffia cargoes were unchanged for a week at $1,360-1,400/tonne (€1,020-1,050/tonne) CFR (cost & freight) Mumbai for December shipments, but were down by $20-30/tonne from the previous week.
The offers of Asian and block copolymer parcels were heard at $1,450-1,480/tonne CFR Mumbai for December shipments.
“Local producers have to reduce their list prices domestically in line with the softer import offers,” a Mumbai-based trader said.
Although lower offers were heard for both imports and domestic goods, trade activity remained subdued because of the volatile rupee, which dampened buying interest, Mumbai-based traders and converters said.
The company’s polyethylene (PE) prices are unchanged at Rs91.00–92.00/kg ($1.76-1.77/kg)
($1 = Rs51.72)
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