31 October 2013 22:13 [Source: ICIS news]
HOUSTON (ICIS)--November export offers of polyvinyl chloride (PVC) from Mexico to Europe and Asia have declined by $40-60/tonne (€29-44/tonne), tracking direction from softening US and Asian markets, sources said on Thursday.
Mexico PVC was heard quoted for November at $1,000-1,020/tonne CFR (cost and freight) Europe, Asia, Turkey, down from $1,050-1,060/tonne on the same basis in October.
Last week, US-origin PVC offers into Latin America fell to below the $1,000/tonne CFR level to encourage demand because of the sluggish regional and global outlook until the end of the year, industry sources in South America said.
Domestic PVC prices in Latin America are also expected to decline in November and December in line with the trend for resin imports and exports, regional participants said. Pricing ideas for November domestic markets are being discussed.
Ample PVC supply in the Americas is facing moderate demand, which is expected to weaken towards the end of the year on inventory shaving to reduce tax exposure.
October domestic PVC prices in Latin America mostly rolled over from September.
PVC producers in Latin America are Braskem, Mexichem, Solvay and Pequiven.
($1 = €0.73)
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