28 November 2012 08:13 [Source: ICIS news]
SINGAPORE (ICIS)--Producers of polyvinyl chloride (PVC) in the Gulf Cooperation Council (GCC) region have announced offers to the Saudi Arabia at around $1,000 (€770/tonne) DEL (delivered) Saudi Arabia for December shipments, a market source said on Wednesday.
Offers for December shipments were said to be unchanged from November prices, the source said.
Offers to the United Arab Emirates (UAE) are estimated to be at $1,000-1,010/tonne DEL UAE, and to Oman at $1,010-1,020/tonne DEL Oman, taking in account freight charges.
Last week, offers for US shipments rose by over $40/tonne to $960-970/tonne CFR (cost & freight) GCC for December shipments. Offer prices rose on the back of a likely increase in US domestic demand as well as a tightness in supply anticipated to be brought about scheduled maintenance turnarounds at some regional PVC facilities.
Asian offers were at $960-970/tonne CFR GCC for December-loading consignments.
Demand in the region continues to be stable-to-soft approaching the year-end, when a number of converters choose to maintain lean inventory levels.
PVC demand in the region is expected to pick up by mid-December for January-arriving shipments, giving a boost to prices.
($1 = €0.77)
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