January PVC prices up $20-30/tonne in Colombia on stable demand
06 January 2012 23:56 [Source: ICIS news]
HOUSTON (ICIS)--January polyvinyl chloride (PVC) domestic prices in ?xml:namespace>Colombia rose by $20-30/tonne (€16-23/tonne) from December, amid stable demand and a firming trend in Latin America, sources said on Friday.
Early-January prices in Colombia are at $1,180-1,200/tonne DEL (delivered) for pipe-grade, up from $1,150-1,180/tonne DEL in December, according to local market participants.
Latin American market participants said PVC prices had reached bottom in December, while steady demand, prompted by the need to replenish year-end inventories, supported price increases in January, in line with sentiment carried over from the end of 2011.
PVC prices in January were rising in Argentina, Brazil, Colombia, Mexico and in countries along the Pacific coast of South America. However, resin prices are assessed unchanged in Venezuela, where markets follow government mandate more than the trend in neighbouring countries.
PVC suppliers note rising prices for vinyl chloride monomer (VCM), and Latin American consumers cite seasonally steady PVC demand, despite extended holidays in several countries.
Venezuela prolongs the year-end celebrations through mid-January, and business in Brazil is expected to ease from late December through Carnival celebrations, 18-21 February. On the other hand, the 2014 Soccer World Cup and the 2016 Summer Olympics should accelerate building activity and PVC demand in Brazil, according to market participants.
The PVC producer in Colombia is Mexichem Resinas Colombia (MRC).
($1 = €0.78)
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