17 July 2013 09:27 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Plastics Corp (FPC) has announced a $20/tonne (€15.2/tonne) hike in its August offers for polyvinyl chloride (PVC) cargoes across its markets, its third consecutive monthly price increase for the material, a source close to the company said on Wednesday.
August lots are now being offered at $1,050/tonne CFR (cost and freight) China/SE (southeast) Asia, up from $1,030/tonne CFR China/SE Asia for July shipments with a letter of credit (L/C) 90 days.
To India, FPC’s August-loading cargoes are now quoted at $1,070/tonne on a CFR basis, and at $1,000/tonne FOB Taiwan to other markets.
The PVC price hike takes into account recent spikes in crude and naphtha values, the source close to FPC said.
A usual discount of $10/tonne for bulk purchases of over 1,000 tonnes and L/C at sight payments applies for August shipments as well, the source said.
FPC is offering lower PVC export volumes in August at 55,000-60,000 tonnes, down by 10,000 tonnes from the previous months because of an upcoming turnaround at the its facility in late July, the source said.
($1 = €0.76)
Additional reporting by Stephanie Zhang
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