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May prices of European PVC rise by three-digit amount for CIS markets

May 07/2021

MOSCOW (MRC) -- Negotiations on prices of European polyvinyl chloride (PVC) for May shipments to the CIS markets began this week. An acute shortage continued to weigh heavily on export prices of European producers. As a month earlier, European producers announced a price increase of EUR100/tonne and higher, according to ICIS-MRC Price report.

May contract price of ethylene was agreed up by EUR5/tonne from the previous month, which theoretically allowed to talk about the same net cost of PVC production, compared to April. But since last year, a shortage of resin both in the domestic market and in a number of export directions has been the main factor in the pricing of producers in Europe. And the acute shortage of polymer in the market allowed to achieve a three-digit increase in domestic and export PVC prices. European producers announced an increase in their export prices for the CIS countries by EUR100/tonne and higher in May.

Seasonal factors predetermined a gradual increase in demand for PVC, whereas the availability of resin was only decreasing from several European producers because of scheduled and unscheduled shutdowns of production capacities. Since the beginning of the year, export quotas of European producers have been decreasing from month to month for the CIS markets. And in May, some producers plan to start export shipments only in the third decade of the month.

Resin with K=58/70 accounted for the acutest shortage. Many buyers could not fully meet their needs in this PVC from European producers during several months.  

Overall, deals for May shipments of suspension polyvinyl chloride (SPVC) to the CIS markets were negotiated in the range of EUR1,290-1,350/tonne FCA, whereas the previous month"s deals were discussed in the range of EUR1,190-1,140/tonne FCA.
Author:Margaret Volkova
Tags:Europe, PVC, SPVC, ethylene, Belarus, Ukraine.
Category:General News
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