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Formosa raises September PVC prices in the USA after Hurricane Ida

September 21/2021

MOSCOW (MRC) -- Formosa Plastics USA, part of Formosa Petrochemical, has announced a price increase for September shipments of domestic polyvinyl chloride (PVC) in the USA after Hurricane Ida, according to a customer letter seen by S&P Global.

Thus, the company's PVC prices rose by 5 cents/lb or USD 110/tonne effective September 15, 2021, or as contract terms permit.

The increase was in addition to a 2 cents/lb price rise announced earlier to be effective September 1. If accepted, the latest increase would push prices up by 7 cents/lb or USD156/tonne for September.

The present announcement came after Hurricane Ida's August 29 landfall in Louisiana that prompted five US PVC plants representing 41% of North American PVC capacity to shut down.

As MRC reported earlier, Formosa Plastics USA has postponed the start-up of its expanded PVC production capacities at its existing plant in Baton Rouge, Louisiana, to Q4 2022. Initially, the company planned to launch the expanded capacities at its 513,000 mt/year of PVC plant in Q4 2021.  Formosa did not respond to inquiries about the delay. The company intends to debottleneck production at this plant, adding 130,077 mt/year of PVC capacity, according to permitting documents.

According to MRC's ScanPlast report, Russia's overall production of unmixed PVC totalled 580,500 tonnes in the first seven months of 2021, up by 4% year on year. At the same time, one producer reduced its output.

Formosa Petrochemical is involved primarily in the business of refining crude oil, selling refined petroleum products and producing and selling olefins (including ethylene, propylene, butadiene and BTX) from its naphtha cracking operations. Formosa Petrochemical is also the largest olefins producer in Taiwan and its olefins products are mostly sold to companies within the Formosa Group. Among the company's chemical products are paraxylene (PX), phenyl ethylene, acetone and pure terephthalic acid (PTA). The company"s plastic products include acrylonitrile butadiene styrene (ABS) resins, polystyrene (PS), polypropylene (PP) and panlite (PC).


mrcplast.com
Author:Margaret Volkova
Tags:PVC, SPVC, Formosa, USA.
Category:General News
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