MOSCOW (MRC)--Some Russian producers announced a further price rise of Russian roubles (Rb) 1,000-1,500/tonne ($14.81- 22.21/tonne) for suspended PVC (SPVC) for supply to the domestic market this week, according to the ICIS-MRC Price Report.
Russian consumers had to accept an increase in PVC prices by Rb3,000/tonne in early August comparison to July, although initially the producers tried to achieve a price increase of Rb4,000/tonne.
A number of producers have announced an increase in prices for additional volumes for August delivery of SPVC by Rb1,500/tonne since 15 August.
The price rise of Russian SPVC was a result of several factors. SPVC prices continued to increase in the last few weeks in external markets, particularly in China, where export prices for acetylene PVC in China increased by $30/tonne by mid-August compared to July.
The August devaluation of the rouble against the dollar significantly affected prices of Russian PVC.
Some Russian producers announced an increase in PVC prices in September, so that the total increase in prices amounted to at least Rb2,000/tonne in relation to the beginning of August.
Despite the announced increase in prices, local processors are not in a hurry to form additional stocks, partly because of limited working capital, partly because of the desire to keep prices at the current level.
($1 = Rb67.53)
MRC, a partner of ICIS, produces polymers news and pricing reports from Russia, Ukraine, Belarus, Uzbekistan and Kazakhstan.