21 December 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European polyvinyl chloride (PVC) December contracts have settled with an average decrease of €10/tonne in northwest Europe and the Mediterranean, and £10/tonne in the UK, players said on Friday.
In northwest Europe, settlements ranged from rollovers to falls of €20/tonne ($26/tonne). In the Mediterranean, most business reported was concluded at rollovers to falls of up to €15/tonne, although decreases of up to €30/tonne were heard. Contracts in the UK settled between rollovers and falls of £15/tonne.
This put December contract prices at €920-970/tonne FD (free delivered) NWE (northwest Europe), €845-945/tonne FD Mediterranean, and £815-865/tonne FD UK.
Following a rollover in the feedstock ethylene December contract price, producers had targeted stable prices in an effort to maintain already thin margins, while buyers had pushed for decreases because of low downstream demand and year-end destocking.
A seller said the market was very slow and because of this there might be a pick-up in January. A buyer said the market was quiet and was unsure of what would happen in January because of the uncertain economic situation.
($1 = €0.76)
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