India’s Reliance raises domestic LLDPE list price for second week

17 February 2012 07:07  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Reliance Industries Ltd (RIL) has increased its list prices for linear low density polyethylene (LLDPE) film by rupees (Rs) 1.00/kg for the second successive week on persistently tight supply, sources close to the company said on Friday.

RIL announced to their customers late on Wednesday a price increment of Rs1.00/kg (Rs1,000/tonne) ($20/tonne) for LLDPE film to hit Rs86.50-87.00/kg DEL (delivered) India, inclusive of a 10.3% excise duty, with effect from 16 February, they said.

List prices were rolled over for low density PE (LDPE) and high density PE (HDPE), they added.

“Because of the short availability, domestic [LLDPE film] sales are good and prices in the open market are already higher than the HDPE film prices,” a Mumbai-based trader said.

Market will tighten further ahead of two shutdowns at the HDPE/LLDPE swing facility of Indian Oil and Gail India, industry players said.

($1 = Rs49.37)

By: Ong Sheau Ling
+65 6780 4359

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