North American PVC resin prices jumped an average of 2 cents per pound in October, ending a streak of four consecutive months of flat pricing.
Prices for the material hadn’t moved since rising 2 cents per pound in June. Market sources said that the October increase resulted from improving inventories and higher feedstock prices.
Through September, U.S./Canadian PVC sales were up almost 5 percent, with domestic sales growth of almost 5 percent augmented by a similar surge in export sales. Sales of the material into its flagship rigid pipe and tubing sector were up more than 7 percent in that period.
The U.S. housing market is on track to record around 1.2 million housing starts this year, which would be up almost 10 percent from 2015. More than 60 percent of domestic PVC sales went into construction markets in the first nine months of 2016.