10 January 2013 23:27 [Source: ICIS news]
Correction: In the ICIS news story headlined "January PVC in Argentina rising as much as $100/tonne" dated 10 January 2013, please read in the sixth paragraph …Argentine pesos (Ps) 4.94/$1, but the so-called blue dollar, the unofficial parallel exchange rate, is at Ps7.25… instead of … Argentine pesos (Ps) 4.93/$1, but the so-called blue dollar, the unofficial parallel exchange rate, is at Ps7.04…. A corrected story follows.
HOUSTON (ICIS)--Polyvinyl chloride (PVC) prices in Argentina are rising by as much as $100/tonne (€77/tonne) in January, tracking the trend in the rest of Latin America, sources said on Thursday.
PVC prices rolled over in December at $1,350-1,500/tonne DEL (delivered), declined by $50/tonne in November, but rose by $40/tonne in October and by $30/tonne in September.
Resin demand and supply are in balance, and production is normal, sources said.
However, January PVC price increases have been implemented or remain under discussion in many parts of Latin America, on support from tightening availability and rising demand, regional market sources said.
In Argentina, industrial and commercial activity is described as healthy in the face of government controls for the purchase of foreign currency to pay for imports of raw materials, capital goods and replacement parts. The restrictions are slowing business, driving up the price of goods and dampening market sentiment, according to local sources.
The official exchange rate stands at Argentine Pesos (Ps) 4.94/$1, but the so-called blue dollar, the unofficial parallel exchange rate, is at Ps7.25, up from Ps6.53 on 18 December.
Solvay Indupa is the PVC producer in ?xml:namespace>
($1 = €0.77)
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