China March PVC import offers rise $20/tonne

23 February 2010 09:30  [Source: ICIS news]

SINGAPORE (ICIS news)--Benchmark offers for March-arrival polyvinyl chloride (PVC) cargoes into China have risen $20/tonne (€15/tonne) over the previous month’s settlement price on sellers’ expectation of improving demand, market sources said on Tuesday.

March-arrival import offers from Taiwan were at $1,040/tonne CFR (cost and freight) China compared to the $1,020/tonne levels achieved for February-delivery cargoes.

Some buyers had expected a fall in offer levels given the recent decline in feedstock ethylene values but producers said that strong seasonal demand would exert strong upward pressure on prices.

Asian ethylene prices climbed down from a 17-month high at the start of the month and had since lost 7% to hit $1,270-1,290/tonne CFR NE Asia on Monday, data from global chemical intelligence ICIS pricing showed.

Recent trading had been sluggish due to the week-long Lunar New Year holidays in China last week but demand was likely to improve as downstream pipe manufacturers would usually ramp up production in the spring season, suppliers said.

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By: Ng Hun Wei
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