09 August 2012 22:58 [Source: ICIS news]
HOUSTON (ICIS)--Polyvinyl chloride (PVC) prices rose in the Venezuelan domestic market because expensive imported product has a greater share in the resin mix sold to private industry in August, sources said on Thursday.
The mix is 30% imported and 70% domestic PVC in August, compared with 25% imported and 75% domestic in July.
August PVC prices are assessed at $999/tonne (€809/tonne) DEL (delivered) for pipe grade and $1,034/tonne for general-purpose (GP) grade, up from $955/tonne DEL for pipe grade and $993/tonne DEL for general-purpose-grade in July, and from $911/tonne DEL for pipe grade and $952/tonne DEL for general-purpose grade in June.
The above assessments are based on Pequiven’s selling prices for imported resin at $1,609/tonne DEL for pipe grade and general-purpose grade. For domestic resin, selling prices were at $737/tonne DEL for pipe grade and $788/tonne DEL for general-purpose grade.
Demand for the cheaper resin produced in the country is rising from the subsidised petro-casas housing project, as the programme accelerates in anticipation of the presidential elections scheduled for 7 October.
As a result, less of the cheaper domestic PVC is available to private industry, which is completing its requirements with more of the imported resin.
Local PVC producer Pequiven is importing 16,500 tonnes of PVC from Colombia and the US, with about 10,000 tonnes scheduled to arrive in August, and the balance in September and October.
($1 = €0.81)
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