Reliance Industries faces headwinds from US-China rift, exports down 4.5%

Reliance Industries’ (RIL’s) petrochemicals business has taken a hit owing to trade tensions between the US and China. In addition to the impact on crude oil prices, the demand and margins for certain petchem products have been under stress owing to the trade war.
 
“The US-China trade war is impacting regional polymer margins and causing the diversion of US cargo to Southeast Asia and West Europe,” the company said in its post-result presentation to investors.
 
The company added the impact was on products like high-density polyethylene (HDPE) and linear low-density polyethylene (LLDPE).
 
On a sequential basis, the