Taiwan’s Formosa Plastics lifts May PVC offers by $20-30/tonne

17 April 2012 04:49  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Plastics Corp (FPC) has hiked its May benchmark offers for polyvinyl chloride (PVC) by $20-30/tonne (€15-23/tonne) from its April offers, on the back of high costs, a company source said on Tuesday.

Offers for May shipments were raised by $20/tonne to $1,060/tonne CFR China Main Port (CMP) and to $1,070/tonne CFR (cost and freight) southeast Asia, the source said.

For May PVC parcels to India, offers were increased by $30/tonne to $1,100/tonne CFR India in view of strong demand in the country, according to the source.

Meanwhile, the producer’s May export offers to its deep-sea markets, like the Middle East and Africa, are at $1,020/tonne FOB Taiwan, representing a $20/tonne increase from its April export offers, the source added.

Other PVC producers in Asia are expected to follow suit in raising May offers as persistently high prices of feedstock ethylene continue to exert cost pressures, market sources said.

In the week ended 13 April, spot ethylene prices were assessed at $1,380-1,430/tonne CFR NE Asia, up by $20-40/tonne week on week, according to ICIS.

($1 = €0.76)

By: Feliana Widjaja

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