11 January 2012 06:37 [Source: ICIS news]
NEW DELHI (ICIS)--India’s Reliance Industries Ltd (RIL) has increased its list prices for linear low density polyethylene (LLDPE) film prices by Indian rupees (Rs) 1.00-2.00/kg (Rs1,000-2,000/tonne, $19-39/tonne) on the back of tight local supply and higher import offers by Middle East producers, sources close to the company said on Wednesday.
RIL released the higher LLDPE film prices to its customers late on 9 January, while keeping its list prices for low density PE (LDPE) and high density PE (HDPE) grades unchanged, the sources said.
The revised LLDPE film prices now stand at Rs84.50-85.00/kg DEL (delivered) India with effect from 10 January, inclusive of a 10.3% excise duty, they added.
“Other producers here are not producing enough LLDPE film because of the severe butane-1 shortage. Also, the higher offers from Middle East makers were additional bullish factors,” a source close to Reliance said.
Import parity prices of LLDPE film were quoted by the local major at $1,310/tonne (€1,022/tonne) CFR (cost & freight) Mumbai.
On 10 January, a Middle East producer offered February cargoes at $1,270/tonne CFR Mumbai, market players said.
The average LLDPE film prices heard on 6 January were at $1,240/tonne CFR Mumbai, according to ICIS.
($1 = Rs51.71, $1 = €0.78)
For more pricing intelligence, visit ICIS pricing
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.
|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|
Asian Chemical Connections