US Dec PVC contracts settle lower on feedstock drops

16 January 2009 23:33  [Source: ICIS news]

HOUSTON (ICIS news)--US polyvinyl chloride (PVC) contracts for December settled down 7 cents/lb ($154/tonne, €117/tonne) on lower feedstock costs and weak demand, buyers and sellers said on Friday.

The contract price reduction followed a 7 cent/lb drop in PVC prices in November and a 9.5 cents/lb reduction in the December feedstock ethylene contract settlement.

The settlement reduced US PVC contract prices to 51-53 cents/lb for pipe grade resin and 55-57 cents/lb for general purpose grade material, before discounts, according to global chemical market intelligence service ICIS pricing.

PVC buyers and producers said they expected January contract prices to fall another 3-6 cents/lb, but producers have nominated a 7 cent/lb price hike for February contracts on an expected rebound in feedstock costs.

US PVC producers include Shintech, Westlake Chemical, Occidental Chemical, Formosa Plastics and Georgia Gulf.

($1 = €0.76)

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By: Greg Holt
+1 713 525 2653

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