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| US PVC re-emerges in Italy and China this month |
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| News Source：http://www.jinchemical.com/
; SendDate：2011-6-10 17:01:48 |
After a period of absence, American PVC offers have started to re-emerge in Italy and China this month. Last month, traders in these countries were not able to import PVC from the US, where producers were coping with production issues.
Italy¡¯s PVC market has been following a bearish trend since the end of May with European offers being dominant in the market. This week, the dominance of European PVC offers was challenged as materials from overseas sources have started to show up with price decreases albeit for July delivery cargoes. Now, players are reporting the re-emergence of US and Mexican offers in the import market, although they added that these offers have not attracted strong buying interest as similar prices are already available in the local market for prompt materials. Offers for US origins had been absent in Italy throughout the month of May.
A trader in Italy reported seeing very limited availability from the US this month because only a couple of producers are able to supply material as other suppliers including Georgia Gulf are unable to export for the time being, according to the trader. Georgia Gulf Corporation had declared a force majeure on PVC output from its 727,000 tons/year plant in Plaquemine, Louisiana on April 14 due to limited ethylene supplies and lower operating rates. According to market sources, the company is planning to lift the force majeure on its PVC supplies from that plant in July.
In May, China¡¯s PVC market didn¡¯t see any import PVC offers from the US either, although this origin has reappeared in the country¡¯s import market this month. Unlike Italy, traders offering American PVC are seeing healthy buying interest in China, where the PVC market has been firm for June in defiance of the global downturn. The relative strength in China¡¯s import market stems from firm VCM feedstock costs along with comparatively tight supply as a result of the reduced June allocation from a major regional producer who is facing ongoing difficulties at their plant.
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