IOCL Announces Revisions in Polypropylene and Polyethylene Prices in India
Indian Oil Corporation Limited (IOCL) has announced a revision in the prices of Polypropylene (PP) and Polyethylene (PE) in India's domestic markets. This adjustment is set to take effect around the 1st November cycle.
The price revision by IOCL is a producer pricing action, which indicates a change in the domestic replacement cost for Indian buyers. However, the specific details regarding the direction or the exact amounts of the price changes for individual grades of PP and PE have not been disclosed publicly.
This move follows a trend in the market where other major players, such as Reliance, have also increased prices for polymers including PP, PVC, HDPE, LDPE, and LLDPE. For instance, Reliance has announced a price increase of ₹2/kg for PP and an even higher increase for deemed export PP at ₹5/kg.
The adjustments in polymer prices are crucial for the Indian market, impacting a wide range of industries reliant on these materials for manufacturing and production.
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