Domestic PVC markets in China close on a firm note, PE and PP cool off

11-Jan-10
In China, the domestic PVC market closed on a firm note this week, maintaining momentum seen earlier in the week, despite cooling off in the domestic PE and PP markets that started the week with large increases, as per Chemorbis. The bullish market outlook and mounting supply concerns on snowstorms in North China, have supported domestic sellers’ price increases. An acetylene-based PVC producer announced a price increase of CNY150-200/ton (US$22-29/ton) on their offers Friday while a few distributors also implemented additional price increases of CNY50-100/ton (US$7-15/ton) on the offers on the final trading day of the week. A processor is reported to have received offers for ethylene based PVC as high as CNY8000/ton FD East China, cash inc VAT ($1001/ton without VAT), a level most players had not expected to see for at least another week.
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