16 February 2012 22:44 [Source: ICIS news]
(recast with fourth paragraph)
HOUSTON (ICIS)--Shintech proposed on Thursday a 3 cent/lb ($66.14/tonne, €50.93/tonne) increase on US polyvinyl chloride (PVC), effective on 1 March.
The company did not immediately provide a basis for the increase. It was not known on Thursday if other producers planned to follow suit.
The proposed increase is on top of a 2 cent/lb increase the company announced for February and a 3 cent/lb increase for January.
A buyer said last month that it saw little justification for the proposed 2 cent increase for February.
Contract prices for pipe-grade PVC are assessed at 54.50–59.50 cents/lb. General-purpose PVC is assessed at $56.50–61.50 cents/lb.
Major US PVC producers include Formosa Plastics, Georgia Gulf, Shintech, Occidental Chemical (OxyVinyls) and Westlake.
($1 = €0.77)
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