17 June 2011 11:01 [Source: ICIS news]
The mainstream prices of PVC were at yuan (CNY) 7,800/tonne ($1,204/tonne) ex-warehouse (EXWH) in east
Import prices were at $1,120-1,170/tonne CFR (cost & freight) China Main Port (CMP) on 17 June, $60-80/tonne lower than 10 June, according to Chemease.
The downstream pipes and profiles sector, which accounts for around 40% of PVC consumption in the domestic market, has been affected by the Chinese government’s real estate regulation, market sources said.
The Chinese media reported last year that
And in February this year,
“Our sales are poor in the first half of the year because of shrinking housing sale volumes. We had to cut our operating rates because of limited orders,” a major pipe producer in east
“We have a large number of feedstock and product inventories. Above all our product inventories are more than 5,000 tonnes in June compared with the same period of last year,” a major profiles producer said.
“The decrease in demand has resulted in downward pressure in PVC prices, but the monthly output of PVC remains the same as last year,” a major trader in east
“Although feedstock calcium carbide has been exerting upward pressure to PVC, the weak demand is seriously dragging down the values,” a market participant said.
($1 = CNY6.48)
Additional reporting by Amanda Zhang
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