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(ICIS-MRC) -- Chinese and American producers keep on reducing PVC export
prices. Along with this, weakening of the Russian ruble against dollar is
evened, as per ICIS-MRC Price report.
Chinese and North American producers declared a further decrease of
export prices for suspension PVC in October. On average, declared reduction of
prices makes 3-4% compared to September. At the same time flowing devaluation of
the Russian ruble against dollar completely evens reduction of exports prices
for PVC.
Gradual weakening of the Russian rouble rate
against dollar started from the first decade of August. Over 1,5 month,
dollar/ruble rate grew by 13%. On 15 September mass media informed about
devaluation of the Russian ruble which is possible, as per pessimistic forecasts
of the Ministry of economy, at the rate of 40 against dollar.
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Devaluation of the ruble also contributed to the strengthened demand in
the Russian market. Some companies increased purchases, thus securing further
growth of spot prices as a result of growing dollar rate. Some marker players
don’t exclude a further correction of PVC spot prices in the Russian market at
the expense of dollar rate: it is obvious that October reduction of export
prices from main suppliers is completely evened by the Russian ruble
devaluation.
MRC data: the Russian market of PVC completely depends on imports.
Overall imports of suspension PVC to the Russian market in August hit
a record and made 57 KT. Over the eight months, overall imports of
suspension to Russia reached 360 KT which is compared to PVC-S production in
Russia – 356 KT.
mrcplast.com
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