26 October 2012 17:15 [Source: ICIS news]
HOUSTON (ICIS)--Polyvinyl chloride (PVC) for export from Colombia for November is being offered at $1,020-1,030/tonne CFR (cost and freight) South America except Brazil, a drop of around $100/tonne from October, to maintain competitiveness with declining offers from other global regions, sources said on Friday.
October material had been selling higher, at $1,120-1,140/tonne (€862-878/tonne) CFR South America except Brazil.
However, despite the drop, prices are not down to the level in July, when PVC export prices from Colombia were assessed at $980-1,000/tonne CFR South America except Brazil.
PVC markets in other Latin American countries are also expected to soften in November and December, driven by decreasing prices in Asia, sources said.
Year-end destocking in the region will also contribute to weakening trends, participants said.
PVC prices in Latin America face additional downward pressure from market dynamics in other global regions, namely ample resin supply, lacklustre demand from China, the eurozone crisis, and falling crude oil prices.
The domestic PVC producer in Colombia is Mexichem.
($1 = €0.77)
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