Reliance Industries Limited Announces Price Reductions for Polyethylene in India

Reliance Industries Limited (RIL) has announced substantial price reductions for polyethylene (PE) in India, effective from July 2. The company has withdrawn price protection for high-density polyethylene (HDPE) and linear low-density polyethylene (LLDPE), leading to major corrections across all PE grades. This adjustment reflects an easing of supply tightness in the market.

The price reductions include a decrease of INR 10,000 per metric ton for HDPE and LLDPE, translating to a reduction of Rs 10 per kilogram. Additionally, low-density polyethylene (LDPE) for extrusion coating and injection molding will see a decrease of INR 6,000 per metric ton, while other LDPE grades will be reduced by INR 3,000 per metric ton.

In the international market, the cost and freight (CFR) prices for South Asia have also been adjusted, with HDPE Injection prices dropping by USD 90 to USD 1,180 per metric ton, and LLDPE prices decreasing by USD 80 to USD 1,170 per metric ton.

This move by RIL marks a transition from panic buying to more stable demand patterns, offering relief to buyers and potentially stabilizing the market.