30 July 2010 21:35 [Source: ICIS news]
HOUSTON (ICIS)--Venezuela’s Pequiven will import 2,600 tonnes of polyvinyl chloride (PVC) from US producer Shintech to offer to domestic processors in September, sources outside the company said on Friday.
The government-owned PVC producer was originally considering purchasing 5,000 tonnes from different suppliers in Mexico and the US to cover Venezuela’s requirements during Pequiven’s planned maintenance turnaround in August and September.
The volume to be imported was recently assessed lower due to ongoing subdued demand in Venezuela along with satisfactory operation of Pequiven's PVC plant, which was producing sufficient inventory, according to the sources.
Pequiven said it had enough resin stocks to last through August, local sources said.
Business activity in Venezuela has slowed significantly, sources said, with raw materials and the foreign exchange needed for transactions both short. The break in diplomatic relations and in trade with Colombia was not helping the industrial community, sources said.
Shintech was not immediately available for comment.
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