12 November 2012 22:32 [Source: ICIS news]
HOUSTON (ICIS)--US polyvinyl chloride (PVC) contract prices for November remain under discussion after rising 3 cents/lb ($66/tonne, €52/tonne) in October, market sources said on Monday.
Several US producers had proposed the October increases following an earlier 3 cent/lb increase in September, citing the rising cost of feedstock ethylene. They also cited increased demand, both in the domestic market, where the critical homebuilding industry is showing increasing signs of improvement, and in the export market, particularly Latin America.
Pipe-grade PVC is assessed by ICIS at 57-62 cents/lb, and general purpose PVC is assessed at 59-64 cents/lb.
The November price increase initiatives by producers are said to be meeting firmer resistance from buyers because of seasonal factors, including year-end inventory demands.
Major US producers of PVC include Georgia Gulf, Formosa, OxyVinyls, PPG Industries, Shintech and Westlake.
($1 = €0.79)
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