Venezuelan PVC producer Pequiven continues allocation

22 July 2011 21:30  [Source: ICIS news]

HOUSTON (ICIS)--Venezuelan state-run polyvinyl chloride (PVC) producer Pequiven is rationing resin shipments to private industry to about 80% of normal requirements, since some product is targeted for the construction of petro-houses, sources said on Friday.

Sources said that the current production rate of the government-subsidised, low-cost houses is lower than planned but is expected to ramp up in September.

The low-cost, so-called petro-houses use PVC for wall panels, doors, window and door frames and extensive shelving, according to plans developed by the government of Venezuela.

Pequiven intends to import 6,000-7,000 tonnes of PVC at international prices to supply the private sector’s resin requirements once the company dedicates all its resin production to the construction of petro-houses.

The status of Pequiven’s negotiations to purchase PVC remains elusive.

In Venezuela, the market was quiet amid subdued activity, with domestic prices for PVC at $737-750/tonne (€516-525/tonne) DEL (delivered) for pipe-grade, as assessed by ICIS.

($1 = €0.70)

For more on PVC visit ICIS chemical intelligence

By: Ron Coifman
+1 713 525 2653

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