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Asia PVC producers hike prices

November 19/2010

(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.


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