Market Dynamics
European producers left PVC August prices at rollover from July for CIS markets
Time: 2014-08-06 Source from: www.mrcplast.com
MOSCOW (MRC) - European producers have left August export prices for suspension polyvinyl chloride (SPVC) for deliveries to the CIS markets at the rollover from the July level, despite the price drop of ethylene, according to ICIS-MRC Price Report.
August contract price for ethylene in Europe was agreed down by EUR15/tonne from the level of July. However, many European producers reported a rollover of the July PVC price for August delivery to CIS markets.
Negotiations on August prices for European PVC have begun this week. A market participant said that he had to accept the August increase in the price of EUR10/tonne compared with the July level. A company source also reported that it managed to achieve price cut of EUR20/tonne.
However, in most cases, CIS companies said they had to accept August PVC prices at the level of July. Deals for August PVC were discussed in the range of EUR780-830/tonne FCA.
Export quotas for PVC from Hungarian producer Borsodchem were reduced because of scheduled maintenance works.