20 April 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--April contract price discussions in the European polyvinyl chloride (PVC) market have settled with increases of €45–60/tonne ($59–$79/tonne) FD (free delivered) from March, producers and buyers said on Friday.
In northwest Europe, contract prices have settled with an average increase of €55/tonne to €1,275–1,290/tonne FD NWE (northwest ?xml:namespace>
These increases are aimed at passing on the European ethylene contract price rise for April – which was fully confirmed at €1,345/tonne, up by €40/tonne from March on the back of firm naphtha costs – and recovering the margins lost during the destocking cycle in the second half of 2011.
Tightness has eased in the European PVC market since mid-March on higher operating rates and slow Easter holiday demand, but some producers have seen an improvement in downstream demand from mid-April caused by the start of the construction season.
($1 = €0.76, €1 = £0.82)
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