Slight discounts reported for Central European PVC in Italy
A South European producer concluded their November deals in the spot market with rollovers at €840-850/ton for k58 and k64-65 and at €850-870/ton for k70 on an FD, 90 days deferred payment basis. A producer source commented, “We closed our sales for the month. December is usually a slow month in terms of trading due to fewer working days. However, spot ethylene prices have posted strong increases due to supply issues, which might affect the market.”
A West European producer concluded some spot deals with rollovers from end October at €850-880/ton for k58 and k64-65 and at €840-860/ton for k67 on an FD, 60 days deferred payment basis. A source from the producer reported, “We expect to close our deals at stable levels without conceding to any discounts. Shell’s force majeure is unlikely to have a strong impact on the market, but it might cause supply concerns and lend support to prices to some extent, preventing possible decreases for December.”
A distributor sold Central European PVC with discounts of €10-20/ton from last month at €830-835/ton for k67, at €840-850/ton for k58 and at €850-860/ton for k70, all on an FD basis. “We started giving PVC offers with rollovers at the beginning of the month, but our supplier conceded to slight reductions in the following days due to slow demand. We think that prices might post further reductions next month and Shell’s force majeure is unlikely to have a strong impact on the PVC market,” he commented. Another distributor sold West and Central European PVC with rollovers for November, excluding the possibility of discounts for the month. Regarding December, the seller projects a stable trend for PVC while commenting that the ethylene shortage from Moerdijk could affect the market.
Converters confirmed obtaining reductions of €10-20/ton for Central European PVC and some buyers stated that they are also negotiating to get slight discounts for West European material as well.
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