India’s RIL withdraws all PP export offers; to resume on 3 Sept

29 August 2012 09:44  [Source: ICIS news]

SINGAPORE (ICIS)--Indian major Reliance Industries Ltd (RIL) has withdrawn all export offers for polypropylene (PP) from 28 August, on the back of low stock levels, a company source said on Wednesday.

RIL plans to resume offers for export beginning from 3 September for October shipments, the source added.

Its low inventories was a result of the healthy domestic sales in early August and the recent low output at one of its PP facilities in Jamnagar, the source said. “Previously in early August, import arrivals were low, so, we had good sales locally. Since then, our inventories were on the lower side,” he said.

RIL has begun offering October shipment in mid-August to countries such as China and India.

Angie Li contributed to the story.

By: Ong Sheau Ling
+65 6780 4359

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