SABIC achieves normal output at Al Jubail PVC plant

09 May 2007 10:19  [Source: ICIS news]

SINGAPORE (ICIS news)--Saudi Basic Industries Corp (SABIC) has achieved normal production at its polyvinyl chloride (PVC) plant at Al-Jubail, Saudi Arabia, which was restarted early this week, a source close to the company said on Wednesday.

 

The restart of the 400,000 tonne/year plant following a month-long maintenance turnaround is expected to ease the current tightness in the Middle East PVC markets slightly, traders said.

 

Prices of PVC have risen by $90/tonne (€66/tonne) in the Gulf Cooperation Council (GCC) region to $990-1,020/tonne CFR (cost and freight), and by $50-70/tonne in the East Mediterranean (East Med) region to $1,020-1,050/tonne CFR in the past month due to tight supply and strong demand, according to global market intelligence service ICIS pricing.

 

The price increases have been supported by the region's construction boom and the start of the peak manufacturing season for packaging.

 

Traders and end-users said that they had been offered very few regional cargoes for May due to shortages and had to depend on Asian suppliers.

 

($1=€0.74)

By: Prema Viswanathan
+65 6780 4359

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