13 October 2012 00:44 [Source: ICIS news]
HOUSTON (ICIS)--US polyvinyl chloride (PVC) contracts for September were assessed higher by 3 cents/lb, as a set of price increase initiatives by producers had taken hold, market sources said on Friday.
The contract price for pipe-grade PVC is assessed at 54-59 cents/lb ($1,190-1,301/tonne, € 916-1,002/tonne), while general purpose PVC was assessed at 56-61 cents/lb.
Producers cited the rising cost of feedstock ethylene and increased demand, particularly in the export market, as well as planned outages in the third quarter of the year, as reasons for the proposed increases.
Spot prices were assessed at 42-46 cents/lb, while export prices are assessed at $950-980/tonne.
Major US producers of PVC include Formosa, Georgia Gulf, OxyVinyls, Shintech and Westlake.
($1 = €0.77)
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