PVC prices hit over a 2 year low in Italy
A West European producer concluded some November deals with decreases of €25-35/ton in the spot market. “For December, we think that ethylene contracts may settle down by €10-30/ton. Therefore, PVC prices may decline slightly further. If buyers are convinced that prices have reached the bottom, they may secure extra volumes next month,” a producer source reported.
A distributor sold West European PVC €30-40/ton below October. The seller anticipates rollovers to small decreases for December. A few other distributors voiced their expectations of seeing decreases of €20/ton in the PVC market next month. One of the sellers commented that the outlook is soft as he has already received lower offers from his suppliers.
Most converters have already completed their monthly purchases with decreases of €30-45/ton from last month and avoided securing large volumes due to their expectations of seeing further softening for PVC in December.
A converter settled his November gentlemen’s agreements €40/ton below last month. The buyer commented, “We expect PVC prices to decline further considering the soft upstream markets and slow demand. In addition, December will be a short month so producers will need to speed up their sales.”
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