15 March 2012 12:20 [Source: ICIS news]
SINGAPORE (ICIS)--Three Indian polyethylene (PE) producers raised their list prices by Indian rupees (Rs) 2.00/kg for all grades, on the back of persistent short supply and healthy downstream demand, company sources said on Thursday.
This is the third successive week the three producers have increased prices of PE, the rises totalling Rs5.00–7.00/kg.
The remaining Indian polyolefins producer – Indian Oil – plans to revise offers on 16 March, with the announcement of India’s budget for the 2012-2013 fiscal year.
The producers’ new list prices for low density polyethylene (LDPE) film are Rs95.50–97.00/kg DEL (delivered) Mumbai; linear low density polyethylene (LLDPE) film is Rs94.00–97.50/kg DEL Mumbai; and high density polyethylene (HDPE) film prices are Rs93.00–96.50/kg DEL Mumbai; all including a 10.3% excise duty, with effect from 15 March, the sources said.
“Low inventories across producers, traders and converters amid robust demand is the main driver in the uptrending of prices,” an Indian PE producer said.
The revised equivalent import parity quoted by RIL will be $1,570/tonne CFR (cost & freight) Mumbai for LDPE film, $1,580/tonne CFR Mumbai for LLDPE film and $1,565/tonne CFR Mumbai for HDPE film.
($1 = Rs49.91, €1 = Rs65.02)
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