10 January 2013 09:55 [Source: ICIS news]
SINGAPORE (ICIS)--Indian polyethylene (PE) producers raised the domestic list prices of all PE grades by rupee (Rs) 2/kg ($37/tonne) on Thursday - the second round of price hike this month - because of supply constraints and improving demand, industry sources said.
Effective 10 January, the list prices are at Rs95.50-98.00/kg DEL (delivered) India for linear low density PE (LLDPE), and at Rs99.00-100.00/kg DEL India for high density PE (HDPE) film, inclusive of a 12.3% excise duty.
HDPE 100 natural pipe grade is now priced at Rs105-107/kg DEL. HDPE 80 natural pipe grade is at Rs99-103/kg DEL, while low density PE (LDPE) general purpose film grade is at Rs101.0-101.50/kg DEL India.
The first round of PE price increase was implemented on 1 January, in response to lower imports and diminishing inventories among buyers.
“Sentiment has been boosted across Asia, especially in China, with more optimistic economic data coming in and this has affected buying interest in India positively,” said a source close to an Indian PE producer.
Major producers of PE in India include Reliance Industries, GAIL, Indian Oil and Haldia Petrochemicals.
($1 = Rs54.77)
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