Dwindling stocks, RIL's price hike likely to push EVA price up in Indian markets – 2 Jan 2014

EVA stocks were reported to dwindle in the major polymer markets in India, amid prevalence of moderate demand conditions. Market prices for the polymer are also expected to go up in the coming days as Reliance Industries Limited had increased its price for the polymer by Rs 2 a kg with effect from January 1, 2014. A Mumbai-based trader told Indianpetrochem," EVA price is likely to go up on shortage of stocks. Purchases are going on actively in the market." 
 

An EVA consumer said, "I have been purchasing the EVA material in accordance to my immediate needs. Demand for my end-products is quite strong, so I am carrying out full-fledged manufacturing activities." 
 

In an interesting development, the Government of India has lowered the import duty for EVA to 2%, for imports from the South East Asian region. EVA imports from the region are thus likely to gain momentum in the country.
 

The latest EVA offer from South Korea to India was learnt to be at $1,950 per metric tonne, on CIF Nhava Sheva port basis, and for shipment within this month.