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PVC price in external markets to decrease for the Russian companies

September 21/2011

(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.

PVC price in external markets to decrease for the Russian companies
Serious oversupply of PVC to the Russian market in July-August made Russian producers and trade companies considerably reduce prices. In early September the resin prices went on cheapening in the Russian market. But starting from the mid-week on the back of good demand for PVC in separate sectors of consumption and reduced oversupply as well as weakened rate of ruble against dollar, spot prices went up. An average price of the Chinese and American PVC this week has grown to RUB 44.000 45.000/t, including VAT, Moscow. 

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 dont 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.

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