06 July 2012 21:16 [Source: ICIS news]
HOUSTON (ICIS)--Polyvinyl chloride (PVC) prices in Mexico declined by 2 cents/lb ($44/tonne, €36/tonne) in July driven by the global weakening trend and lower feedstock ethylene and crude oil prices, local sources said on Friday.
Demand slowed in June as resin buyers consumed inventories and waited for resin prices to fall, contributing to downward pressure on PVC prices.
However, sources said PVC inquiries had increased in the first week of July.
Participants noted that resin consumers’ concerns about restocking thin inventories could drive some speculative purchasing and reverse the weakening price trend for PVC evident in the past weeks.
Higher crude oil prices in the past week are also lending support to a firming PVC market, sources said
In June, PVC prices fell by 4 cents/lb from May on US and Asian market dynamics.
Pipe-grade PVC prices in Mexico after the 2-cent/lb July decrease are assessed at $1,045-1,095/tonne DEL (delivered).
The domestic producer in Mexico is Mexichem.
($1 = €0.81)
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