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Russian producers cut PVC September prices

August 30/2011

(MRC) -- Downward price movements of PVC import, along with an excess resin offers in the domestic market have forced Russian producers to cut contract prices for suspension deliveries in September, according to ICIS-MRC Price report. Excessive imports of suspension PVC keep on affecting the Russian market.

Over the seven months, PVC-S imports to Russia grew by 83% year on year and made 301 KT. More than 24 KT of imported resin were supplied to the Russian market over the first August fortnight. Large volumes of imported PVC-S to the Russian market are expected in September, due to a long period from the date of contracts signing and the date of arrival for main foreign suppliers (U.S. and Asian producers).

PVC-S imports partly compensated a decline of production in the Russian market this year. Over the seven months, Russian producers have cut output by 9% to 302 KT. Some converters reported about 10-15% increase in resin consumption. However, in spite of all these factors, PVC supplies in the Russian market still exceed its demand.

Russian PVC producers on the back of prices decrease in foreign markets, as well as significant imports volume, had to cut contract prices further for September deliveries. Some converters decreased prices to RUB 500-1.000/t, others kept August prices.

Since bargaining still goes on, final contract prices will be established by the end of the week. Big fluctuations of prices can hardly be expected.

Tags:PVC, PVC-S.
Category:General News
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