23 September 2011 23:14 [Source: ICIS news]
HOUSTON (ICIS)--Uncertainty prevailed in Latin American polyvinyl chloride (PVC) markets on concerns over the global economy, as turbulent financial markets around the world plunged during the week, sources said on Friday.
A weaker Mexican peso and Brazilian real (R) added to market fears in the region. Capital flight to the ?xml:namespace>
Meanwhile, participants were taking a wait-and-see stance until the instability settles.
Direction was mixed in early in September, when prices rose in
Suppliers said pipe-grade PVC domestic prices were in a R2,400-2,500/tonne ($1,270-1,323/tonne) DEL range, although buyers heard prices as low as R2,200/tonne
Brazilian antidumping duties for US material stand at 16% in addition to 14% import duties, with Colombian product subject to no antidumping and import duties, giving the latter a substantial competitive advantage.
Sources projected higher PVC prices in
Meanwhile, demand has slowed as a result of market unrest, expectations of lower prices and inflationary pressures. The currency has devalued from Mexican pesos (Ps) 12.24/$1 on 19 August to Ps13.98/$1 on 23 September.
($1 = €0.74)
($1 = R1.89)
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