23 March 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European March polyvinyl chloride (PVC) contract prices have settled at an increase of €60–70/tonne FD (free delivered) from February on market tightness and higher production costs, market sources said on Friday.
In northwest Europe, contract prices have settled up by an average of €70/tonne ($92/tonne) FD NWE (northwest ?xml:namespace>
Increases of €75–85/tonne from February were heard in the eastern Mediterranean, and central and eastern
The current upward trend in prices, which has been supported by outage-related tightness, has for the second consecutive month helped PVC producers improve margins in relation to feedstock ethylene, which in March settled at a record-high €1,305/tonne, up by €86/tonne from February, on the back of firm upstream costs.
According to a northwest European producer which has achieved an increase of €60/tonne from February, this month’s price settlement has been sufficient to pass the full cost of ethylene and increase margins slightly.
($1 = €0.76, €1 = £0.83)
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