Taiwan's FPC raises offers for January PVC cargoes by $20/tonne

16 December 2013 08:51  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Plastics Corp (FPC) hiked its offers for January-lifting polyvinyl chloride (PVC) cargoes by $20/tonne (€15/tonne) compared with December prices, sources close to the company said on Monday.

The major PVC maker has announced to customers that prices for cargoes bound for China, southeast Asia and India were increased to $1,060/tonne on a cost-insurance-and-freight (CIF) basis, tracking steady gains in the cost of feedstock ethylene, they said.

FPC’s offers to other markets on a free-on-board (FOB) basis were not immediately available.

On 25 November, its offers for December-lifting parcels were at $990/tonne FOB.

A discount of $10/tonne usually applies to payments made on a letter-of-credit (LC) at-sight basis and for bulk purchases of 1,000 tonnes and above of FPC cargoes, market sources said.

In terms of volumes, FPC will export 60,000 tonnes of spot PVC for January, down from 65,000-70,000 tonnes of December-lifting cargoes.

Most market players consider the price increase fair, taking into account the feedstock cost pressure being faced by regional chlor-alkali makers.

At midday, ethylene prices stood at $1,420-1,440/tonne CFR (cost and freight) NE (northeast) Asia, according to ICIS.

($1 = €0.73)

Additional reporting by Stephanie Zhang


By: Jasmine Khoo
+65 6780 4359



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index