09 March 2012 10:43 [Source: ICIS news]
SINGAPORE (ICIS)--India’s major polyvinyl chloride (PVC) producers have raised their domestic list prices for March by Indian rupees (Rs) 1.50/kg (Rs1,500/tonne, $30/tonne) because of recovering demand, weakening local currency and higher feedstock costs, market sources said on Friday.
The upward adjustment came into effect on 8 March, with the latest list prices at Rs64.50-65/kg on a delivered (?xml:namespace>
“Local demand is healthy now and is expected to increase further in April,” a major Indian producer said.
“[The increase] is also cost-pushed,” said a second local producer, adding that local producers are under the pressure from the depreciation of the Indian rupee and spikes in costs of feedstock ethylene.
Spot ethylene prices were assessed at an average of $1,300/tonne (€975/tonne) CFR (cost and freight) NE (northeast)
Major PVC producers in
($1 = Rs50.24 / $1 = €0.75)
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