West European PVC up-revised, but still competitive in Italy

10-Mar-10

In the first week of March, a couple of West European sources offered rollovers, although the rest of the market started to seek price hikes of €20-50/ton in a bid to improve margins, as per Chemorbis. Spot prices at €760-780/ton for k67 and €770-800/ton for k70 were forming the low end of last week’s price ranges and they were considered competitive against the remaining Central European origins and import cargoes. This week West European supplier raised offers by €20/ton to come closer to the general market level. They are now offering k70, k58 and k64 at €790-820/ton and k67 at €780-790/ton FD North Italy, 90 days deferred payment. However, buyers are still able to find offers at last week’s low ends for different West European origins. A converter purchased some k67 cargoes for two different West European origins at €760/ton FD North Italy, 90 days deferred payment paying a small hike of €10/ton over February while a second converter bought some k70 for another West European origin at €780/ton with the same terms. Meanwhile, a South European producer is also offering for March at a rollover as PVC demand has still not improved. Their prices are standing at €770-850/ton for k70 and €750-820/ton for k58 and k64 FD North Italy, 90 days deferred payment, constituting the low end of this week’s range for specialty grades. They may revise their offers up in the second half of the month, but they are not sure about this decision right now.