01 March 2012 11:38 [Source: ICIS news]
SINGAPORE (ICIS)--India’s Reliance Industries Ltd (RIL) has raised its list prices for all grades of polyethylene (PE) and polypropylene (PP) by rupees (Rs) 1.00-3.00/kg (Rs1,000-3,000/tonne, $20-61/tonne), on persistently short supply and high raw materials costs, a source close to the company said on Thursday.
RIL raised linear low density (LLDPE) film list prices by Rs3.00/kg late on 29 February, while high density PE (HDPE) and PP grades were increased by Rs2.00/kg. LDPE film list prices were up by Rs1.00/kg.
The new PE list prices now stand at Rs92.50-93.00/kg ?xml:namespace>
The revised PP list prices are at Rs91.00-93.00/kg DEL India for raffia and Rs97.00-98.00/kg
Imports, originating from the
Soaring high naphtha prices at close to $1,100/tonne CFR (cost and freight)
“Propane prices are very high now, we have no choice but to raise our prices to maintain decent margins,” he added.
The increase in list prices by RIL is the second adjustment since February for LDPE, HDPE and PP, while LLDPE film is the third adjustment (please see graph below), he said.
“There may be another upward adjustment in the [PE] list prices in the middle of March because the market is still looking tight. We will adjust our list prices according to the market price,” the source said.
Spot prices in the domestic open market this week were discussed Rs1.00-2.00/kg higher at Rs89.00-90.00/kg
($1 = Rs49.10)
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