18 June 2013 10:47 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Plastics Corp (FPC) has increased its July offers for polyvinyl chloride (PVC) cargoes to China, India, southeast Asia and other markets for the second consecutive month, a source close to the company said on Tuesday.
July offers were raised by $30.00-40.00/tonne (€22.50-30.00/tonne) from June offers to $1,030/tonne CFR (cost & freight) CMP (China Main Port), $1,030/tonne CFR SE (southeast) Asia and $1,050/tonne CFR India, with a letter of credit (L/C) 90 days. The FOB (free on board) Taiwan price was announced at $980/tonne FOB Taiwan, added the source.
Prices for June-loading parcels were announced at $1,000/tonne CFR CMP, $1,000/tonne CFR SE Asia and $1,010/tonne CFR India respectively on 21 May.
The source added that the “usual” discount structure for July-loading lots applies, which indicates a $10/tonne discount for bulk purchase of over 1,000 tonnes.
Meanwhile, the total export volumes offered to the market for July shipment were said to be similar to the previous months, which means approximately 65,000 tonnes, added the source.
($1 = €0.75)
Additional reporting by Veena Pathare and Stephanie Zhang
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