India PVC producers raise prices by Rs1.5/kg on recovering demand

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 (DEL) basis, excluding all taxes and discounts, they said.

“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) Asia on 2 March, up by $100/tonne from a month ago, according to ICIS.

Major PVC producers in India include Reliance Industries Limited (RIL), Finolex Industries and Chemplast Sanmar. 

($1 = Rs50.24 / $1 = €0.75)

By: Yu Guo
+65 6780 4359

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