12 April 2012 23:07 [Source: ICIS news]
HOUSTON (ICIS)--Polyvinyl chloride (PVC) pricing negotiations in Brazil for April business are centring on increases in a 6-10% range, driven by the high cost of feedstock ethylene and in line with the trend in Latin America, participants said on Thursday.
Resin buyers in Brazil said discussions for April business are focusing on 6-8% increases, while a domestic resin maker is maintaining a firm position on its proposed 10% price boost and yet another producer is proposing an 8% hike.
The initiative for April follows increases of 5% in March and 3% in February.
March pipe-grade PVC prices in Brazil are assessed at $1,480-1,720/tonne (€1,125-1,307/tonne) DEL (delivered), depending on volume and destination.
Participants gauge Brazilian PVC demand as weak, and question when construction and infrastructure projects needed for the upcoming Olympics and soccer World Cup will accelerate.
Meanwhile, the government’s initiatives to revive the economy by easing credit restrictions are not yet having a significant positive effect on industry, sources said.
PVC producers in Brazil are Braskem and Solvay.
($1 = €0.76)
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