News Code :
42626
US and European PVC on opposite trends in Turkey
Petrotahlil:
US and European PVC on opposite trends in Turkey
• European major rolls over k67, raises k70
• US cargos dealt with discounts
• Petkim starts April with $20-30 hikes on higher C2
• Feb imports up 5.6% m-o-m, down 21% on year
• Europe k67 ($/ton): 910-930 CIF
• US k67 ($/ton): Offers 850-860 | Deal: 830 CIF
• Local k67 ($/ton): 1090-1150 inc VAT
Initial PVC offers see increases beyond half of C2 hike in Europe
• April C2 contracts settled up by €30
• Fresh PVC offers emerge €15-30 firmer
• Margin recovery, supply concerns behind larger hikes
• Buyers are searching the market with no hurry
• Demand remains not brilliant
• Local PVC k 67-68 (€/ton): spot 845-960 | GA net 845-990
Egypt’s EPC reveals H1 April PVC offers with decreases
• Import PVC market down to lowest levels since Sept 2016
• EPC’s new offers decrease by EGP200
• Distribution market levels down by EGP100-500
• Tight liquidity and slow activities keep expectations soft
• Import PVC k67 ($/ton): 786-830 CIF
Initial PVC expectations for May surface in India, SEA
• Major Indian producer cuts local offers further
• Pre-election lull overshadows improved sentiment
• India’s import PVC market stable on week
• Chinese PVC offers stable to $10 higher in SEA
• Crude oil surge supports rollover expectations for May
• Far East Asian k67 ($/ton): 870-880 CIF India | 820-860 CIF SEA
PVC sellers seek different size of increases in Italy
• Fresh April offers up at par with or beyond half of C2 hike
• April C2 settlement is €30 higher
• Some producers aim to recover margins
• Buyers hope to pay 50% of ethylene hike in deals
• Spot ethylene prices are firmer on dwindling supply
• Local PVC (€/ton): k67 880-965| k70 900-1005 FD
Sentiment firms up in China’s local PVC market
• Local PVC starts April stable to slightly firmer
• Demand shows improvement after VAT cut
• PVC futures increase CNY160 on week
• Stricter safety measures also support sentiment
• Import PVC stabilizes after two weeks of softening
• Early May expectations call for rollovers to slight losses
• Import k67 ($/ton): 810-860 CIF
