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European PVC increase by EUR60-80/tonne for CIS markets in June

June 10/2021

MOSCOW (MRC) -- Negotiations over prices of European polyvinyl chloride (PVC) for June shipments to the CIS countries began last week. Serious supply shortages over several months have resulted in a constant increase in export prices at European producers. Suppliers have announced a price increase of EUR60-80/tonne for June shipment, according to ICIS-MRC Price Report.

June contract price of ethylene was agreed up by EUR30/tonne from the previous month, which theoretically allows to talk about an increase of EUR15/tonne in the net cost of PVC production compared with May price. But since 2020, the main factor in the pricing of producers in Europe has been the imbalance of supply and demand or a shortage of PVC, which has actually led to a constant increase in prices for a year now.

And the acute shortage of polymer in the market allowed to achieve a two-digit increase in domestic and export PVC prices. European producers announced an increase in their export prices for the CIS countries by EUR60-80/tonne and higher in June. The rise in export prices for PVC in Europe began a year ago, and in fact, since that period, the PVC price has doubled.

But, despite a long period of growth and another record level of prices, the demand for PVC was still at a good level.
Many market participants have not been able to replenish their inventories in full for at least the last three months.
Some buyers reported the absence of PVC export quotas from some producers in Europe for June shipment due to planned shutdowns.

Overall, deals for June shipments of suspension polyvinyl chloride (SPVC) to the CIS markets were negotiated in the range of EUR1,350-1,430/tonne FCA, whereas the previous month"s deals were discussed in the range of EUR1,290-1,3530/tonne FCA.
Author:Anna Larionova
Tags:Europe, CIS, PVC, EPVC, SPVC, Russia.
Category:General News
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