PVC Edge Band Tape are reported to be compelled to increase the edge band tape prices by 10 percent from as early as today following a escalating in price of its key raw material, known as PVC Resins. The Edge Band tape prices are reportedly increased in different slabs depending upon thickness and quality in tune to 10 to 12 % for different brands.
The same impact is being noted in PVC board segment which is also called as WPC board. The material price comparison chart prepared by The Ply Reporter on monthly basis is clearly indicating a gradual rise in PVC resin prices. There is an increase of around Rs 30 per kg during last 4 months after lockdown. The effect has immensely impacted the input cost of PVC Edge band Tape and WPC/PVC boards in tune to 30% till 31st August say industry people.
The upward trend in PVC resinprices after second half of May, has been gradual and continued till writing this news. The conclusive impact per kg has been estimated to be around Rs 20 a kg, due to which there is a price increase announcement happening in this product category.
Reliance is a major producer of PVC resins in India, besides Industry imports from Taiwan, Japan and Africa. As per report, the production of PVC resins has disturbed all over world due to Covid-19 pandemic, which has resulted in Reliance receiving very good orders from overseas market as well. The disruption of domestic as well as international supplies is said to be main reason for the price increase of PVC resins.
According to domestic PVC Edge Band Tape groups and WPC/PVC board producers groups, they are forced to increase their prices with immediate effect by 8 to 10 %. Producers fear that the price of PVC resin will increase further because of the disturbance in manufacturing and there will be a need for further increase to save the industry from losses.