26 April 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--April polyvinyl chloride (PVC) contract prices in Europe have decreased by an average of €25/tonne ($32/tonne) or £20/tonne from March, following a €60/tonne fall in the monthly feedstock ethylene contract price, market players said on Friday.
Buyers said contracts had generally fallen by €25-30/tonne, while producers said prices had fallen by €20-25/tonne on average.
This takes prices to €955-1,005/tonne FD (free delivered) NWE (northwest Europe), €890-990/tonne FD Med (Mediterranean), and £840-890/tonne FD UK.
Sellers had initially targeted rollovers or smaller decreases in an effort to improve thin margins, but buyers resisted this because of the economic situation and following rises above the ethylene feedstock movement earlier this year.
Producers said that margin improvement is still necessary, and that they would target this next month following a €100/tonne decrease in the May ethylene contract price, which settled on Friday.
($1 = €0.77, €1 = £0.84)
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