US PVC August contract prices settle flat
13 September 2013 16:54 [Source: ICIS news]
HOUSTON (ICIS)--?xml:namespace>US polyvinyl chloride (PVC) contract prices settled flat in August for the fourth consecutive month, while producers focused their efforts on pushing price initiatives to September, sources confirmed on Friday.
Pipe-grade PVC is assessed by ICIS at 63.00-68.00 cents/lb, ($1,389-1,499/tonne, €1,042-1,124/tonne), while general purpose PVC is assessed at 65.00-70.00 cents/lb.
US demand remains soft amid the gradual and irregular recovery of the construction sector and the domestic economy, while US exports to Asia are suffering from slowing growth in China, currency issues in India and the eurozone economic malaise.
Citing snugness in supply, producers are pushing the August 2 cent/lb PVC contract nomination to September.
Upcoming planned outages at US plants Oxy Vinyls, Shintech and Formosa starting in late September and October would further tighten US supply and limit export availability, a trader said.
Major US producers of PVC include Axiall, Occidental, Formosa, Shintech and Westlake.
($1 = €0.75)By: Heather McGuire Doyle+1 713 525 2653
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