Taiwan’s FPC drops November PVC offers by $50-70/tonne
22 October 2012 05:00 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>Taiwan’s Formosa Plastics Corp (FPC) has slashed its benchmark November offers for polyvinyl chloride (PVC) by $50.00-70.00/tonne (€38.50-53.90/tonne) from October, in view of the bearish market conditions, a company source said on Monday.
Its offers for November shipments fell by $50/tonne to $970/tonne CFR (cost & freight) CMP (China Main Port), the source said.
In addition, FPC’s November export offers to deep-sea markets, such as the Middle East, are down by $70/tonne at $920/tonne FOB (free on board) Taiwan, the source added.
Offers to the India market have yet to be announced and FPC may do so later in the week, according to the source.
The major producer is allocating around 30,000 tonnes of material to China and southeast Asia and about 10,000 tonnes of material to other markets excluding India, the source said.
Quantity discounts of $10/tonne and $20/tonne are applicable for volumes of 500 tonnes and 1,000 tonnes respectively, industry sources said.
($1 = €0.77)By: Feliana Widjaja+65 6780 4327
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