Tosoh hikes April VCM $40/tonne on bullish PVC
08 April 2008 08:59 [Source: ICIS news]
SINGAPORE (ICIS news)--Tosoh Corp, Japan’s largest vinyl chloride monomer (VCM) producer, has raised its prices by $40/tonne for the second straight month in April due to persistent strength in the downstream polyvinyl chloride (PVC) market, a company source said on Tuesday.
Deals for April’s VCM cargoes were last week settled at $890/tonne (€569.6m) CFR (cost and freight) China, up from March’s level of around $850/tonne, the source said. February cargoes were sold at around $810/tonne CFR China.
Producers said they expected VCM prices to continue rising in May largely due to rising prices in the downstream PVC market.
April PVC cargoes were heard sold at around $1,110-1,130/tonne CFR China Main Port and sellers expected May PVC prices to rise by another $40-50/tonne. http://www.icis.com/Articles/2008/04/07/9113839/Asia-PVC-producers-eye-40-50t-rise.html
Buying interest in the VCM market was generally high when the spread between PVC and VCM prices was at least $200/tonne, producers said.
Tosoh has total annual VCM and caustic soda capacities of 1.45m tonnes and 1.2m tonnes respectively.
($1=€0.64)
For more on PVC and VCM visit ICIS chemical intelligence
By: Ng Hun Wei
+65 6780 4359
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
Links posted in this story:
|
|
Related Articles
- 16 May 08 08:27 Tosoh hikes June Asia VCM offer by $60/tonne
- 29 Apr 08 04:18 Tosoh's Asia May VCM at $960/tonne CFR China
- 23 Apr 08 05:09 Tosoh unlikely to raise spot caustic soda exports
- 21 Apr 08 10:07 Tosoh hikes May Asia VCM $110/t on bullish PVC
- 16 Apr 08 23:12 US smoke alarm manufacturer to phase out PVC
- 16 Apr 08 09:06 Taiwan’s FPC hikes May PVC by $60/tonne
- 10 Apr 08 19:00 US Feb PVC exports up 57% year on year
- 10 Apr 08 18:42 US Feb caustic soda imports drop 8% year on year
- 10 Apr 08 16:52 Mexico caustic soda prices move up $20
- 03 Apr 08 10:20 Sanyo, Tosoh to restart Japan crackers mid-April
- 03 Apr 08 06:40 Asia-US caustic soda arb rises on wide price gap
- 31 Mar 08 10:54 Japan's Tosoh plans $202m ethylene amine units
- 25 Mar 08 08:24 Tosoh to halt spot caustic soda export in May-June
- 17 Mar 08 03:45 Tosoh hikes March VCM $40 on bullish PVC
- 22 Feb 08 03:51 Asia Feb VCM up $35/t on shutdowns, bullish PVC
- 17 Dec 07 06:52 Tosoh to turn around China PVC unit in Jan
Latest News
- 01 Dec 09 03:10 US Tronox proposes $150/tonne hike in Asia TiO2
- 01 Dec 09 01:00 In Tuesday's Asia papers
- 30 Nov 09 23:30 MOVES: US ChemLogix names chief financial officer
- 30 Nov 09 23:24 US SBR sellers ready to undercut contract price - consultant
- 30 Nov 09 23:12 New nylon resin leaves smaller carbon footprint - Rhodia
Paul Hodges goes to the junction of Wall St and the chemical industry.
ICIS Chemicals and the Economy