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US PVC regaining competiveness in global markets

US PVC regaining competiveness in global markets

Industry News
Release time:
2010/09/20 10:45
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  Lower offers for American PVC emerged in several major global markets this week, while players in other markets predicted that they would receive reduced offers for this origin in the coming weeks. Players attributed the downward movement in US PVC prices to a desire to increase export sales in the face of persistently poor demand from the domestic housing sector.

  Chinese buyers, who had been purchasing large volumes of American PVC for most of the year, shifted their attention to nearby sources last month as they did not find US offers to be competitive with mainstream producers. Although October offers for US PVC were announced with increases in China, American origins are beginning to regain their competitiveness with Asian origins as American offers rose $10/ton for October while offers for Asian origins were up $30/ton from September.

  In Italy, October offers for American PVC were reported this week at prices €15/ton below the initial October offers for this origin reported at the beginning of September. The offers reported for US origins at the beginning of the month did not meet with much interest from Italian buyers as they were not considered competitive when compared with the prevailing offer levels for domestic cargoes. Over the past week, as offers for American origins have shifted downward while local offers in the Italian market have risen, buyers report that offers for American origins are beginning to be more competitive when compared with offers for local material.

  In India, a distributor reported receiving an offer for American PVC at prices $30/ton below the most recent offers. The distributor said that they are willing to accept the offer they received for American origin as they find it more attractive than the offers they received for Northeast Asian materials. However, the distributor commented that they are not willing to make any fresh purchases until they search out the market for some additional offers.

  Traders in Egypt report that they have reduced their offers for American PVC by around $20-40/ton on a CIF Alexandria, cash equivalent basis, this week in response to poor demand from Egyptian buyers following the Ramadan holidays, with converters in Egypt saying that they do not expect demand to witness any noticeable improvement over the near term. With demand expected to remain soft over the near term, players are anticipating further price declines in the days ahead.

  In the nearby Turkish market, offers for American PVC were reported $5-15/ton lower on a CFR Turkey, cash equivalent basis this week. Traders in Turkey commented that they are expecting further reductions in offers for US origins in the coming weeks due to lower offers for this origin in the Egyptian and Italian markets as well as the fact that buying interest inside Turkey remains sluggish following the Ramadan holidays.




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