10 February 2011 23:45 [Source: ICIS news]
HOUSTON (ICIS)--Two 3 cent/lb ($66/tonne, €48/tonne) price-increase proposals for March have emerged in the US polyvinyl chloride (PVC) market as players closely watch feedstock ethylene prices, sources said on Thursday.
Some market sources said January and February contracts were leaning toward a rollover. Others said January contracts were not yet settled, and February discussions not completed.
A 3 cent/lb increase announcement was initially made by two suppliers last December. However, when the initiative did not take hold, the increase was postponed to March contracts, a producer said.
The Enterprise fire forced some crackers to operate at reduced rates because of constraints on ethane supply, according to market sources. The company said Thursday that operations had resumed at its facilities.
Ethylene was trading on Monday at 44.25-46.00 cents/lb. By Thursday, ethylene was trading at 48.50 cents/lb, continuing on an uptrend from earlier in the week.
“I’m very worried about the ethylene price,” a PVC buyer said. “I’m sure that’s what the other guys are watching.”
Major US PVC producers include Formosa Plastics, Georgia Gulf, Shintech and Westlake.
($1 = €0.73)
For more on polyvinyl chloride visit ICIS chemical intelligence
To discuss issues facing the chemical industry, go to ICIS connect
Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections