PVC price increased by USD80 to USD1,400 per ton
PVC prices increased by USD80 per ton to USD1,400 per ton as US companies declared Force majeure.
Westlake & Axiall declared FM on the supplies of PVC & VCM Westlake and Axiall have declared Force majeure on the supplies of PVC and VCM in the aftermath of Hurricane Ida’s assault.
The impact has been observed at Plaquemine, LA, and Geismar Facilities. The Plaquemine Facility has a PVC Production Capacity of 861,826 MT/Year, 725,747 MT/Year of VCM, 1.15 million MT/Year of EDC, 426,376 MT/Year of chlorine, and 453,592 MT/Year of caustic soda and the Facility located in Geismar has a Production capacity of 520,000 MT/Year of PVC, 625,000 MT/Year of EDC, 317,514 MT/Year of Chlorine and 349,266 MT/Year of Caustic Soda.
While the Facility of Axiall’s located in Louisiana has a production capacity of 725,000 Tons/Year.
Earlier, PVC prices in South East Asia have declined to USD 1,350 due to lower imports from overseas producers and demand trends in the region.
Lower import offers from overseas producers and softer demand trends in the region resulted in a sharp decline in PVC prices in Asia.
Deals concluded at lower price levels and a sharp drop in PVC futures on the Dalian Commodity Exchange in China further supported the price fall. CFR China PVC prices were assessed at the USD 1330-1350/mt CFR levels, a week-on-week tumble of USD (-70/-80/mt). In China, Formosa, Taiwan has offered its PVC resin suspension grade at the USD 1340-1350/mt CFR levels, for shipment in June 2021.
CFR South East Asia PVC prices were assessed at the USD 1350-1390/mt levels, a whopping week on week fall of USD (-110/-120/mt). In the open markets of India, PVC buying trends were reported to have improved.
In India, Formosa, Taiwan has offered its PVC resin suspension grade at the USD 1510/mt levels, CIF Nhava Sheva port basis, for shipment in June 2021. A Japanese producer is heard to have offered its PVC resin suspension grade at the USD 1550-1560/mt CFR levels, for shipment in June 2021.
In Bangladesh, they were assessed at the USD 1450-1510/mt CFR levels, a drop of USD (-20/-40/mt) from the previous week. A Thai producer is also heard to have offered its PVC resin suspension grade at the USD 1520-1540/mt CFR levels, for shipment in June 2021.
In Pakistan, PVC prices were evaluated at the USD 1530-1580/mt CFR levels, a week on week fall of USD (-20/mt). In Sri Lanka, they were assessed at the USD 1530-1580/mt CFR levels, a decline of USD (-20/-40/mt) from last week.
Feedstock ethylene prices on Tuesday were assessed at the USD 1010-1015/mt CFR South East Asia levels, while CFR North East Asia ethylene prices were assessed at the USD 1065-1070/mt levels, both down USD (-45/mt) from the previous week. In India, PVC prices were assessed at the USD 1470-1510/mt levels, a plunge of USD (-70/-80/mt) from the previous week.
Feedstock EDC prices were assessed steady at the USD 700-705/mt CFR China level, while CFR South East Asia prices of EDC were assessed flat at the USD 715-720/mt levels. CFR China VCM prices were assessed at the USD 1200-1205/mt levels, while CFR South East Asia VCM prices were assessed at the USD 1270-1275/mt levels, both unchanged week on week.
Plant shut down
Vestolit has a shutdown at its polyvinyl chloride (PVC) plant in Altamira. It initiated a maintenance turnaround at the plant this week. The PVC plant that is located at Altamira has a capacity to produce 200,000 metric tons per year.
PVC prices decline in GCC
Prices have declined across regions of GCC triggered by lower import offers from overseas producers and persistent bearish regional demand trends. PVC resin suspension grade prices were assessed lower at the USD 1535-1540/mt CFR GCC levels, a drop of USD (-20/mt) from last week.
