08 March 2012 21:25 [Source: ICIS news]
HOUSTON (ICIS)--Polyvinyl chloride (PVC) prices in Venezuela fell in March as more of the cheaper domestic product was going into the resin mix sold by state producer Pequiven, sources said on Thursday.
The March resin mix ratio is 88% cheaper domestic material to 12% more expensive imported product, compared with the February ratio of 80% domestic and 20% imported material.
The ratio in January was 70% domestic and 30% imported material, and December’s mix was 60% domestic and 40% imported.
More domestically produced resin is being sold to private industry because the nation's low-cost subsidised housing project is advancing at slower than projected rates.
The government prioritises the cheaper domestic resin for its so-called petrocasas, which use a large amount of PVC.
With the current domestic/import mix ratio, average assessed PVC prices in Venezuela are $834/tonne (€634/tonne) DEL (delivered) for pipe grade and $869/tonne DEL for general purpose, down from $882/tonne DEL and $923/tonne DEL, respectively, in February, and $955/tonne DEL and $991/tonne DEL in January.
Local sources said petrocasas construction rates should pick up in April, as the Venezuelan government accelerates its construction programmes before the presidential elections in October.
($1 = €0.76)
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