India’s Reliance cuts again PE list prices on lower import offers

22 June 2012 08:25  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Reliance Industries Ltd (RIL) has adjusted its list prices by Indian rupees (Rs) 1.00-1.50/kg (1,000-1,500/tonne) ($17.76-26.64/tonne) lower for high density polyethylene (HDPE) monofilament yarn and low density PE (LDPE) grades, industry players said on Friday.

The new list prices took effect from 21 June, they said.

This is a second consecutive price reduction for LDPE grades within June.

Both LDPE film and HDPE monofilament yarn list prices were cut by Rs1.00/kg, while LDPE coating was lowered by Rs1.50/kg, a source close to RIL said.

“We have adjusted prices to keep parity, as we know that the import offers have been drifting downwards,” the source added.

The new LDPE film list prices are now at Rs92.50-93.50/kg DEL (delivered), local traders said.

Other PE and PP list prices were unchanged at Rs92.00-93.00/kg DEL for linear low density PE (LLDPE) film, Rs92.50-93.50/kg DEL for HDPE film and Rs93.50-95.50/kg DEL for PP raffia.

The local major quoted its equivalent import parity at $1,335/tonne CFR (cost and freight) Mumbai for LDPE film, $1,460/tonne CFR Mumbai for LDPE coating and $1,385/tonne CFR Mumbai for HDPE monofilament yarn.

Sporadic discussion levels for LDPE film imports for July shipments were at close to $1,300/tonne CFR Mumbai, $1,450/tonne CFR Mumbai for LDPE coating and $1,340/tonne CFR Mumbai for HDPE monofilament yarn, local trader said.

($1 = Rs56.31)

By: Ong Sheau Ling
+65 6780 4359

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