13 April 2011 21:52 [Source: ICIS news]
HOUSTON (ICIS)--A third US PVC producer is seeking a 5 cent/lb ($110/tonne, €76/tonne) price increase for May contracts, a company source said on Wednesday.
The producer joined at least two others seeking similar 5 cent/lb increases for May because of rising production costs and a robust export market.
The May price increase initiative is on top of price hikes sought for March and April contracts, neither of which have been settled.
US PVC producers announced 3 cent/lb price increase initiatives for March.
For April, most producers announced 3 cent/lb increases, although one producer deviated with a 5 cent/lb initiative.
Current US PVC contracts were assessed by ICIS at 46-51 cents/lb for pipe and 48-53 cents/lb for general-purpose material.
US PVC producers include Formosa Plastics, Georgia Gulf, Oxy, Shintech and Westlake.
($1 = €0.69)
Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
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