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(ICIS) -- Japanese and South Korean
polyvinyl chloride (PVC) producers will likely follow the lead of their
Thai and Taiwanese counterparts in hiking December prices amid strong demand and
restricted supply of the material, industry sources said on Friday.
The northeast Asian producers were expected to announce their prices next
week, sources said. PVC spot prices in Asia were nearing eight-month high at
$1,010/tonne CFR (cost and freight) China on 12 November, according to ICIS
data.
Formosa Plastics, a major PVC producer in Taiwan, took the initiative to
implement a $30/tonne (?22/tonne) price hike last week, raising December prices
to $1,040/tonne CFR (cost and freight), said a company source.
Thai Plastics and Chemicals (TPC) seconded the move this week, nudging up
its December offers into China by $20/tonne from November to $1,040/tonne CFR,
said a company source.
Demand from the construction sector has been steadily improving in China
in recent weeks, especially for ethylene-based PVC, causing prices to jump $20-30/tonne
in the week ending 12 November, according to ICIS. PVC is a key product
used in construction materials like pipes.
mrcplast.com
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