21 May 2013 10:18 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Plastics Corp (FPC) has raised its June offers for polyvinyl chloride (PVC) cargoes to China, India and other markets for the first time following three months of steady decline, a company source said on Tuesday.
The major PVC producer offered June-loading parcels with a letter of credit (L/C) 90 days to China at $1,000/tonne (€780/tonne) CFR (cost & freight) CMP (China Main Port), $1,000/tonne CFR SE (southeast) Asia and $1,010/tonne CFR India respectively.
These prices reflect an increase of $30/tonne from the May offers for all the regions mentioned, said the source.
Prices for May-loading lots were announced at $970/tonne CFR CMP, $970/tonne CFR SE Asia and $980/tonne CFR India on 22 April.
The source also added that the discount structure for the June-loading cargoes are similar “as always”, which indicates a $10/tonne discount for bulk orders of over 1,000 tonnes.
Total export volume for June is estimated at around 65,000 tonnes, similar to that for May, said the source, although the exact breakdown of the export volumes by region is not immediately available.
The source added that the demand situation would have to be monitored further before the company could determine the breakdown of the sales volumes.
($1 = €0.78)
Additional reporting by Veena Pathare and Stephanie Zhang
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