13 March 2009 23:59 [Source: ICIS news]
LONDON (ICIS news)--Spot prices for European polyvinyl chloride (PVC) headed to Turkey settled down $90/tonne (€70/tonne) as a result of aggressive selling from northwest European manufacturers, sources said on Friday.
The range settled at $660-710/tonne FOB (free on board) NWE (northwest Europe) export. Of the $90/tonne drop, $40/tonne of it was freight costs.
Numerous traders’ reports that competitive offers of $700/tonne CFR (cost and freight) from northwest Europe drove down domestic prices. These were undercutting domestic producer Petkim and offers from Asia and ?xml:namespace>
One re-seller believed that prices could even slip below $700/tonne CFR for large consumers in the coming weeks, hindering a price recovery in
A northwest European trader expressed concerns that these aggressive offers would also exert downward pressure on the European spot price.
“There have been a few offers into Europe at €500/tonne FD (free delivered) NWE and of £480/tonne FD into the
(€1 = $0.78)
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