03 January 2014 22:29 [Source: ICIS news]
HOUSTON (ICIS)--Polyvinyl chloride (PVC) values have been assessed as largely steady in Argentina since mid-2013, with participants noting a minimum of $1,370/tonne (€1,000/tonne) DEL (delivered) for pipe-grade at end-December or early-January amid balanced supply and demand, according to input made available on Friday.
Local industry participants said it is difficult to project how the PVC market will perform in the first quarter of 2014, as conditions depend on economic variables such as the currency exchange rate, interest rates, inflation, salary increases and consumer demand. However, a source said that industrial activity in Argentina is projected to grow in 2014 by 3.5-4.0%.
PVC sourced out of the US Gulf (USG) is assessed at $1,035/tonne CFR (cost and freight) Buenos Aires, according to sources in Argentina.
Resin supply in Argentina is in balance with stable demand, while factories remain closed for vacations between 23 December and 13 January.
The Solvay Indupa PVC plant is expected to continue producing PVC normally under previous management until the purchase by Braskem is finalised, a source said.
PVC producers in Latin America are Braskem, Mexichem, Solvay and Pequiven.
($1 = €0.73)
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