23 May 2013 16:18 [Source: ICIS news]
HOUSTON (ICIS)--Shintech has proposed a price increase of 2 cents/lb ($44/tonne, €34/tonne) for US polyvinyl chloride (PVC), effective on 1 July, a company source confirmed on Thursday.
The move follows announcements of increases of the same amount effective on 1 June made earlier in the week by Occidental Chemical, Formosa Plastics and Westlake Chemical, a market participant said.
Pipe-grade PVC is assessed by ICIS at 65-70 cents/lb, while general purpose PVC is assessed at 67-72 cents/lb.
While the supply situation is healthy because of high operating rates, the price initiatives are being driven primarily by higher feedstock costs, especially ethylene, the market source said.
Demand has also been fairly steady with an improving, albeit somewhat unsteady, recovery in the US homebuilding sector.
($1 = €0.78)
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