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US polyvinyl chloride export prices appeared to have reached a bottom

July 19/2011

(ICIS) -- US polyvinyl chloride (PVC) export prices appeared to have reached a bottom after a decline since late May, sources said on Monday. However, buying interest has not yet returned from China, and US participants held mixed views on when Asian demand would return.


PVC export prices are at USD 980Ц1.010/tonne (EUR 696Ц717/tonne) FOB (free on board) USG (US Gulf), as assessed by ICIS.


Discussions clustered around USD 1.000Ц1.010/tonne FOB USG, although some prices were heard at levels under USD 1.000/tonne. One source said those parcels were destined for Egypt and locations in South America.


Meanwhile, US PVC participants are waiting for the August offer from Formosa Plastics Corporation (FPC), Asian market, as the offer is typically considered a key benchmark for PVC trade.
Early indications are leaning toward stable or firm pricing in Asia, which would influence direction of the US market, sources said.


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Tags:PVC, Formosa.
Category:General News
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