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June prices of European PVC did not go up for CIS markets with a few exceptions
There were active negotiations over prices of European polyvinyl chloride (PVC) for June shipments to the CIS markets this week. Amid steadiness of feedstocks prices, European producers maintained their export prices at the level of May with a slight increase from some producers, according to ICIS-MRC Price report.
The June contract price of ethylene was agreed at the level of May, despite a major fall in oil prices in the last two weeks. On the back of steady prices of the main feedstock - ethylene - European producers did not adjust their export PVC prices for deliveries to the CIS countries either, only in some cases, prices rose by EUR5/tonne from May.
Negotiators said some producers still had export restrictions due to scheduled shutdowns for maintenance. Also, because of problems in Brazil, some manufacturers promptly switched their export flows.
Demand for PVC increased from the main consumers in the CIS countries in June, but high export prices of European producers limited the growth in purchases.
Deals for June shipments of suspension polyvinyl chloride (SPVC) to the CIS markets were done in the range of EUR720-810/tonne FCA, whereas last month"s deals were done in the range of EUR720-805/tonne FCA.