21 September 2012 22:59 [Source: ICIS news]
HOUSTON (ICIS)--Polyvinyl chloride (PVC ) prices in Brazil rose by an average 8% for September on partial implementation of Braskem's proposed 12% hike, driven by higher feedstock costs, industry participants said on Friday.
Sources said that prices were negotiated on a per-customer basis, and the price increases for September hovered around the assessed average.
Firming PVC prices in Brazil were also supported by the global trend, according to sources, and additional increases at as yet undetermined levels were planned for October.
PVC demand was improving along seasonal expectations for the second half of the year, although some local sources said September demand is higher than projected earlier.
Braskem was delivering product on schedule in the face of rising demand, according to sources close to the company, despite market talk that some shipments have been delayed.
After the September 8% increase, pipe-grade PVC domestic prices in Brazil were assessed at $1,510-1,690/tonne (€1,163-1,301/tonne) DEL (delivered).
PVC producers in Brazil are Braskem and Solvay.
($1 = €0.77)
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