24 January 2013 09:43 [Source: ICIS news]
SINGAPORE (ICIS)--Three major Indian producers raised their domestic list prices for polyethylene (PE) on Thursday by rupees (Rs) 0.5-1.5/kg ($9.32-27.97/tonne) because of tight supply, market sources said.
Reliance Industries Ltd (RIL) implemented the smallest increase of Rs0.5/kg in linear low density polyethylene (LLDPE) list prices, while both GAIL and Indian Oil Corp (IOC) raised their prices for the polymer by Rs1.5/kg, the sources said.
For high density polyethylene (HDPE) film grade, the three producers issued a price increase of Rs1/kg, they said.
The list prices are now at Rs97.00-99.50/kg DEL (delivered) India for LLDPE, and at Rs100-101/kg DEL India for HDPE.
The price increase may dampen buying sentiment in the PE market, said an industry player.
“Buying activity, which had picked up, is likely to slow down a bit after this week's increase,” another industry source said.
($1 = Rs53.63)
Additional reporting by Prema Viswanathan
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