31 January 2013 11:20 [Source: ICIS news]
SINGAPORE (ICIS)--Polyvinyl chloride (PVC) producers in the Gulf Cooperation Council (GCC) region announced February offer prices at $10-20/tonne (€7.4-14.8/tonne) higher than their January prices, industry sources said on Thursday.
A source close to a producer said that PVC offers in the Middle East markets ranged from $1,100-1,140/tonne (€814-844/tonne) DEL (delivered) Middle East for February shipments.
Traders in UAE said that regional offers to the UAE market were at $1,110-1,120/tonne DEL UAE for February-shipping cargoes.
Importers in the East Mediterranean (East Med) region said that they received PVC offers from GCC producers at $1,130-1,150/tonne DEL East Med for February lots.
Demand for PVC in the GCC region was said to be subdued because a number of converters were holding ample stock of PVC cargoes booked at lower prices in November and December last year.
Some converters chose to put off purchasing amid the high offer prices and watch them instead.
Despite dull demand, offers from the US to the GCC markets were firm at $1,070-1,080/tonne CFR GCC for February-shipping cargoes, on the back of a limited availability of product.
Asian offers, too, were high at $1,070-1,080/tonne CFR GCC with a few deals concluded at the low end of the range.
($1 = €0.74)
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