16 December 2011 09:11 [Source: ICIS news]
The price increase came into effect on 15 December and the latest list prices are at Rs64.50/kg on a delivered (
“The weakening local currency has become a concern for all importers and they prefer local material,” a major Indian producer said.
At the same time, producers said they are concerned over the uncertainties in the upstream ethylene market.
Ethylene prices increased by $30-60/tonne (€23-46/tonne) during the past two weeks from an average price of $1,110/tonne CFR (cost & freight) northeast (NE) Asia in the first week of December to $1,140-1,170/tonne CFR NE Asia on 15 December.
“[The increase] is also cost-pushed,” a second local producer said.
However, the producers added that the hike in prices is difficult for buyers to accept.
“We see hesitance in purchasing,” a third producer said, adding that most players are staying on the sidelines and expecting the prices to fall in the near term.
Major PVC producers in
($1 = Rs53.64)
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