UpdateTaiwan’s FPC hikes September PVC offers by $70-90/tonne

13 August 2012 05:29  [Source: ICIS news]

(adds further details in paras 4-6)

SINGAPORE (ICIS)--Taiwan’s Formosa Plastics Corp (FPC) has raised its September benchmark offers for polyvinyl chloride (PVC) by $70-90/tonne (€57-73/tonne) from August, in view of higher feedstock ethylene prices and limited volume, a company source said on Monday.

Offers for September shipments increased by $70/tonne to $990/tonne CFR (cost & freight) CMP (China Main Port), and by $90/tonne to $1,030/tonne CFR India, the source said.

Similarly, the producer’s September export offers to its deep-sea markets, such as the Middle East, are up by $90/tonne at $960/tonne FOB (free on board) Taiwan.

FPC’s export volume will be very limited in September – at around half its usual export volume of 60,000 tonnes – as its 500,000 tonne/year PVC plant in Mailiao will be shut amid a lack of feedstock, the source said.

The PVC plant derives feedstock from FPC’s vinyl chloride monomer (VCM) plant at the site that is due for a month-long maintenance from mid-August, the source said.

Meanwhile, the company’s 800,000 tonne/year PVC facility at Kaohsiung will continue to operate at 100%, the source said.

($1 = €0.81)

By: Feliana Widjaja

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