PP prices underwent linear movements in the major markets of India during the week ended on November 16, 2013. Off-takes of the raw material were strong as manufacturing of end-products gained momentum in various manufacturing clusters in the country.
Several end-users also considered stocking of the raw material due to the uncertainties in price movements in the near future. The constantly fluctuating INR triggered expectation of the polymer becoming costlier in the coming days.
During the week, PP prices in India were not influenced by international price movements as there was no significant price movement in the South East Asian region. In the region, price of the Injection Moulding grade of the polymer moved upwards by $5 per metric tonne to $1,522 per metric tonne CFR; price of the Film grade of PP remained stable at $1,537 per metric tonne CFR during the week under review.
The week under review saw producers raising their ex-work PP prices, seemingly on account of the fluctuating INR against the USD, and the rising demand in the country. Reliance Industries Limited and Indian Oil Corporation Limited hiked their PP prices by Rs 1.5 a kg respectively, with the exception of the BOPP material, for which the price hike was at Rs 3 a kg by both the producers.
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Several end-users also considered stocking of the raw material due to the uncertainties in price movements in the near future. The constantly fluctuating INR triggered expectation of the polymer becoming costlier in the coming days.
During the week, PP prices in India were not influenced by international price movements as there was no significant price movement in the South East Asian region. In the region, price of the Injection Moulding grade of the polymer moved upwards by $5 per metric tonne to $1,522 per metric tonne CFR; price of the Film grade of PP remained stable at $1,537 per metric tonne CFR during the week under review.
The week under review saw producers raising their ex-work PP prices, seemingly on account of the fluctuating INR against the USD, and the rising demand in the country. Reliance Industries Limited and Indian Oil Corporation Limited hiked their PP prices by Rs 1.5 a kg respectively, with the exception of the BOPP material, for which the price hike was at Rs 3 a kg by both the producers.
Continue reading the main story>>
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