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External suppliers reduced PVC prices for the Russian market

August 26/2011

(MRC) -- By late August PVC prices in foreign markets have reduced slightly. However, dollars rate growth and lower prices of the Russian resin resulted in a significant reduction of suspension purchases in foreign markets, according to ICIS-MRC Price report.

In early August, Chinese suppliers of acetylene PVC decreased export prices to USD 1.050 1.070/mt, DAP Dostyk. Russian companies attempts to bargain for even lower prices on Chinese PVC are still of no effect. According to Chinese suppliers, a further price reduction is unprofitable.

Serious decline in suspension prices in August from some Russian producers, as well as dollar growth against ruble made Chinese PVC uncompetitive. As a result, in August Russian companies significantly reduced their resin purchases in China.

PVC producers in the U.S. reduced export prices for September cargoes to USD 1.060 - 1.080/mt, CFR St. Petersburg and Novorossiysk. Despite this, many Russian companies lost their interest in purchasing  North American PVC.

Soon a further decline in PVC imports from the USA and China is expected. However, there wont be a sharp price fall due to debts for July and August contract obligations.

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