09-04
2017
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Hurricane Harvey hits the United States, Asian PVC prices hit a new high
- Categories:Company News
- Time of issue:2017-09-07 16:16
(Summary description)This Wednesday, the CFR China PVC benchmark price rose by US$10/ton compared to last week, reaching US$945/ton, setting a new high in 5 months. Market participants said that Hurricane Harvey hit the United States, causing many PVC installations to shut down and supply constraints, which further pushed up PVC prices in Asia. According to data released by Platts Energy Information, the price of PVC in Asia had risen to US$950/ton on March 22. As "Harvey" moves eastward, more devices will be shut down in coastal areas of Texas. Hurricane Harvey caused flooding in Texas. According to market participants, from the Asian month
Hurricane Harvey hits the United States, Asian PVC prices hit a new high
(Summary description)This Wednesday, the CFR China PVC benchmark price rose by US$10/ton compared to last week, reaching US$945/ton, setting a new high in 5 months. Market participants said that Hurricane Harvey hit the United States, causing many PVC installations to shut down and supply constraints, which further pushed up PVC prices in Asia. According to data released by Platts Energy Information, the price of PVC in Asia had risen to US$950/ton on March 22. As "Harvey" moves eastward, more devices will be shut down in coastal areas of Texas. Hurricane Harvey caused flooding in Texas. According to market participants, from the Asian month
- Categories:Company News
- Time of issue:2017-09-07 16:16
- Views:
Information
This Wednesday, the CFR China PVC benchmark price rose by US$10/ton compared to last week, reaching US$945/ton, setting a new high in 5 months. Market participants said that Hurricane Harvey hit the United States, causing many PVC installations to shut down and supply constraints, which further pushed up PVC prices in Asia.
According to data released by Platts Energy Information, the Asian PVC price rose to US$950/ton on March 22.
As "Harvey" moves eastward, more devices will be shut down along the coast of Texas.
Hurricane Harvey caused flooding in Texas
According to market participants, from the perspective of monthly PVC negotiations in Asia, manufacturers' October CFR China offer will exceed $1,000/ton.
In September, the prices of manufacturers were maintained at about US$940/ton CFR China, which was an increase of US$50/ton compared to August.
Asian PVC producers will announce October quotations in the third week of September.
In terms of the global PVC spot market this week, manufacturers have suspended supply after the United States was restricted due to Hurricane Harvey.
Formosa Plastics announced on Tuesday that its plant in Point Comfort, Texas suffered force majeure for the production of chlor-alkali and specialty PVC products due to Hurricane Harvey.
Before the hurricane was registered, its device had been shut down. Although no major damage was caused, the flooding in the Gulf of Mexico in Texas was very serious and the device was blocked from restarting.
"Although the current PVC production facilities in the United States have not been damaged, PVC cannot be shipped by sea for the time being because it will take time to resume logistics." said a market participant. He added that there will be a shortage of US PVC goods on the market until the end of September.
PVC resin particles
Asian manufacturers claim that regular maintenance of their installations has also led to limited supply of PVC.
"The quantity of PVC exported from the Middle East and Europe to Asia is also limited, which cannot make up for the supply shortage caused by the United States." Another market participant said.
The United States is one of the main sources of PVC supply in Asia.
According to new data released by the Chinese customs department, China imported 13,796 tons of PVC from the United States in July, accounting for about 26% of the total imports, and the total import volume was 53,069 tons. Taiwan is China's PVC supply source, and its July supply was 22,364 tons, accounting for 42% of the total.
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