21 March 2013 05:55 [Source: ICIS news]
SINGAPORE (ICIS)--Indian PVC producers announced a price protection on polyvinyl chloride (PVC) in the domestic market from Thursday, industry sources said.
The price protection is effective 21 March onwards, until 1 April.
Producers said the move was to boost PVC demand in the regional markets, which was weak amid falling import prices.
“We will review the list price on 1 April, and any reduction in [PVC] price will be effective from today,” a source close to a major producer said on 21 March.
On 19 March, India’s Reliance Industries Ltd (RIL), Haldia Petrochemicals and GAIL had announced a price protection on polypropylene (PP), high density polyethylene (HDPE) and linear low density polyethylene (LLDPE) in the Indian market.
A price protection occurs when a product purchased at full price goes on sale. Retailers then do a price adjustment by refunding the difference in amount paid by a customer and the prevailing market price.
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