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June prices for PVC down in the external markets

June 01/2011

MOSCOW (MRC) -- June prices for PVC in Europe and North America insignificantly decreased after steady growth over last three months, according to ICIS-MRC Price Report.

PVC quotations over the three months have been rapidly growing. Export prices for North American resin grew more than by USD 200/mt, in Europe prices were EUR 60-80/mt up along with strengthening of euro-dollar cross-rate. Decrease of oil quotations, that started in early May, resulted in decreased prices for ethylene in June and insignificant decrease of PVC quotations.

Contract price for ethylene in Europe in June decreased by EUR 45/mt. European producers were forced to reduce export prices for PVC by EUR 20-30/mt.

High level of export prices for North American PVC that was partially stipulated by tsunami and earthquakes in Japan and FM at Georgia Gulf production, resulted in significant reduction of exports. Export prices for resin from USA in June for CIS declined on average by USD 50-60/mt compared to May.

Now Russian producers split into two groups: those who left May contract prices for June and those who increased prices.

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