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Prices of Russian PVC decreased for November shipments

November 01/2019

MOSCOW (MRC) -- Negotiations over November shipments of suspension polyvinyl chloride (SPVC) began in the Russian market this week. Some producers significantly decreased prices, in some cases up to roubles (Rb) 4,000/tonne, according to the ICIS-MRC Price Report.

Strong demand from the domestic market and a decline in imports helped Russian producers to keep a sufficiently high level of PVC prices in the domestic market in October. However, producers had to cut prices for November delivery, both under the pressure of a seasonal decline in demand and under the pressure of lower prices in foreign markets.

Some producers discussed reduction in PVC prices by Rb4,000/tonne, compared with the level of October.
Demand for finished PVC products in October was at a good level, which also affected the volumes of PVC purchases from the domestic market.

Although some of the converters nevertheless reduced the volume of PVC procurement, starting the process of optimising the stock of finished goods and raw materials. And, as a result, some producers increased export sales in order to balance the domestic market.

The seasonal factor traditionally has a greater affect on demand in November, and most converters plan to reduce purchases further. At the same time, some converters reported that they planned to keep the October level of PVC purchases or to go on a slight decrease in purchases.

Also, import has put pressure on prices of Russian producers in recent months. PVC prices in October in foreign markets in some areas, taking into account delivery and tax burden, were slightly lower than prices of Russian producers.

Some external suppliers announced price cuts for November delivery, and this factor could not go unnoticed by Russian producers.

November deals for K64/67 PVC were negotiated in the range of Rb72,000-74,000/tonne CPT Moscow, including VAT, for lots of less than 500 tonnes. K70 PVC was contracted at the prices, which were by on average of Rb1,000/tonnes higher.
Author:Anna Larionova
Tags:PVC, EPVC, SPVC, Russia.
Category:General News
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