India's PVC list prices for April fall on lower import offers

03 April 2013 03:56  [Source: ICIS news]

PVC goes into plastic pipes, which are used in the construction sector.SINGAPORE (ICIS)--India’s polyvinyl chloride (PVC) producers have reduced their April list prices by Indian rupees (Rs) 2.00/kg ($0.04/kg) to Rs63.50/kg ex-works (EXW) to match the lower import offers of April lots, market sources said on Wednesday.

The equivalent import parity for the revised list price now stands at $1,045-1,050/tonne (€815-819/tonne) cost & freight (CFR) India, according to the sources.

An improved supply of feedstock vinyl chloride monomer (VCM) into India was also said to have contributed to lower April prices, sources said.

In March, northeast Asian cargoes for loading in April were offered at $1,020-1,040/tonne CFR India, down by $30/tonne from the previous month following weak demand and strong buyer resistance to higher March offers, ICIS data showed.

In early March, Indian PVC producers raised their list prices by Rs1.50/kg following a severe tightness in the supply of VCM cargoes, with several brief turnarounds conducted at a number of regional PVC facilities as a result.

The arrival of fresh VCM cargoes in mid-March helped PVC production in India resume to full capacity.

Indian PVC demand is expected to strengthen from April onwards and remain robust until June ahead of the country’s monsoon season, market sources said.

($1 = €0.78)

($1 = Rs54.43)

By: Veena Pathare
+65 6780 4327

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index