Asia June PVC import offers to China fall $40/tonne

26 May 2010 11:52  [Source: ICIS news]

SINGAPORE (ICIS news)--Benchmark offers for June-arrival polyvinyl chloride (PVC) cargoes into China fell by $40/tonne this week to $970/tonne (€786/tonne), in line with the recent weakness in crude values, sources said on Wednesday.

Taiwanese offers, on a cost and freight (CFR) China Main Port (CMP) basis, were revised down from $1,010/tonne CFR CMP last week, they said.

May PVC cargoes were settled at $1,010-1,020/tonne CFR CMP, slightly lower than the offers at $1,040/tonne CFR CMP.

Meanwhile, June-arrival benchmark offers for India were reportedly cut by $40-50/tonne from last week to $970-980/tonne CFR India, a seller said.

Market sentiment was weak, with crude hovering at $70/bbl, amid uncertainties in the global economy in the wake of the European debt crisis, sources said. 

($1 = €0.81)

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By: Aaron Cheong

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