Higher PVC offers emerge from USA in global markets

25-Nov-10
Higher offers for American PVC emerged this week in several major global markets, including China, Egypt, Turkey and Italy, as per Chemorbis. This upward movement was attributed to tight ethylene supplies as a result of an unplanned cracker outage which affected the production of several PVC plants in the US. A seller in Turkey also confirmed that they have been facing some delays in the shipments from USA for some time. In China, after initially coming with increases of US$30-40/ton for their December shipment cargoes, sellers of US origin managed to pass their hike requests on done deals this month. Traders reported that they are satisfied with this month’s US PVC sales to China, with a trader reporting that he could sell out their allocations smoothly. Turkish and Egyptian buyers, who faced hefty increases on new US PVC offers after their return from a week-long Eid holiday, shifted their attention to other sources. In Turkey, US offers for December shipment cargoes rose by US$30/ton from the initial prices, which had been revealed at rollovers before the holidays while offers to Egypt posted larger increases of around US$55-75/ton compared to the pre-holiday period. In line with the global trend, Italy’s PVC market also saw higher import offers from the US this week, with the new import level emerging up to €30/ton higher for materials scheduled for early-January delivery. Having enjoyed attractive import offers in the earlier weeks, Italian buyers do not show much interest in higher US offers as converters are no longer willing to secure cargoes with late delivery unless they are attractively priced due to the year-end booking concerns.
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