12 July 2013 22:38 [Source: ICIS news]
HOUSTON (ICIS)--US polyvinyl chloride (PVC) prices rolled over in June from May, as producers have focused their efforts on new price initiatives for July and August, sources said on Friday.
Pipe-grade PVC is assessed by ICIS at 63.00-68.00 cents/lb, while general purpose PVC is assessed at 65.00-70.00 cents/lb.
In the latest round of price initiatives, producers are seeking 2-cent/lb ($44/tonne, €33/tonne) hikes for both July and August. The producers have cited steady demand, both for domestic and export consumption, as well as snugness in supply, as reasons for the proposed increases.
However, some buyers have said that there will be some resistance to the increases, largely because of lowered prices for primary feedstock ethylene.
Last week, US ethylene contracts reached a full settlement for April, May and June, decreasing by about 5.2%.
Major US producers of PVC include Axiall, Occidental, Formosa, Shintech and Westlake.
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