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Indias polyvinyl chloride prices to decline over the next few weeks

September 13/2011

(ICIS) -- Indias polyvinyl chloride (PVC) prices are expected to continue declining over the next few weeks as a result of weak demand, tightened monetary policy and macroeconomic uncertainty, industry sources said on Tuesday.

Prices in India fell to USD 1,030-1,070/tonne (EUR 762-792/tonne) CFR (cost & freight) India on 9 September, USD 70-90/tonne lower compared with prices two weeks ago, according to ICIS data.

Meanwhile, prices in China fell by USD 30/tonne from two weeks ago to USD 1,050-1,070/tonne CFR China Main Port (CMP) last Friday. In the Middle East, prices fell by USD 30-60/tonne to USD 1,030-1,060/tonne CFR Gulf Cooperation Council (GCC)/ East Mediterranean.

Major Indian producer Reliance Industries Ltd (RIL) has adjusted its domestic list prices downwards by Indian rupees (Rs) 3/kg ($63/tonne) to mirror the decline in import price levels, market participants said.

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