PVC market in Italy

We are exporter of PVC granules in competitive prices. Our virgin PVC resin is Iran origin.

Let’s look at Italy PVC market:
In Italy, the PVC market has been following a stable to firmer trend since the beginning of the year. Following the €10-20/ton increases that passed in May, sellers approached the Italian market with price hike targets of as high as €50-60/ton for June. They mainly pointed to recent production issues, expectations of better demand and the need to improve their margins. Price hikes have indeed materialized this month as was expected, but the firming amount has been limited so far, similar to last month. As a result of the pressure from competitive West European origins, Central European sellers have had to revise their hike targets down to €10-20/ton as well.

This steady firming has been occurring in Italy in spite of the fact that most of the key markets across the globe are in a downward trend. For the May and June business, PVC deals were concluded lower in Asia while further declines are awaited for July offers. Likewise, import prices to Mediterranean countries such as Turkey and Egypt have been following a gradual downward trend since the beginning of the May. The lack of buy interest is blamed as the main reason behind the constant fall while the ongoing unrest about the health of the global economy is also contributing to the slowdown.

Source: Chemorbis

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Oil prices jump 4 percent after 3-week slump

NEW YORK — Oil prices rebounded sharply Wednesday after weeks of being knocked down by economic uncertainty.

After dropping more than 20 percent in three weeks, oil rallied 4 percent, the best one-day percentage gain since September 30. Consumers, meanwhile, continue to benefit from declining prices at the pump.

Investors chose to focus on positive U.S. economic news instead of troubles in Europe. Government reports said demand increased for both gasoline and big-ticket goods like refrigerators and airplanes. Many investors now think oil is undervalued and a rally in equities markets sparked a parallel rally in crude, said Tom Kloza, publisher and chief oil analyst at Oil Price Information Service.

"I’m not saying the correction is over" in energy commodities, Kloza said. "But people are now saying, ‘I can live with these prices’."

Oil held its gains even as U.S. stock markets turned lower. Benchmark crude for July delivery added $2.76 to settle at $71.51 a barrel on the New York Mercantile Exchange. The price was $86.84 on April 6. In London, the Brent crude rose $2.19 to settle at $71.74 a barrel on the ICE futures exchange.

Real-Time Quotes

06/07/2010 6:06AM ET

• BAC
• $15.50
• 0.98%

• USO
• $32.55
• -0.40%

• UNG
• $8.18
• 2.12%

• WXS
• $30.21
• -5.77%

REad on:

http://www.forbes.com/feeds/ap/2010/05/26/general-energy-oil-prices_7639132.html

Price of polymers in Asia for the week ended May 24, 2010

POLYMERS

By the middle of the week of May 24, 2010, sellers began to reveal their sell ideas for PE products to Southeast Asia with decreases for June, in line with expectations. Amid falling crude oil prices, Asian petrochemical prices have plunged partly due to destocking activities. The declines are likely to continue due to high inventory levels amid lackluster market sentiments. Concerns are mounting in Asia over Europe’s debt crisis that has resulted in austerity measures, which could continue, threatening to restrict exports from Asia to Europe. These worries brought demand to a standstill. High levels of inventory abound in the polyethylene market with PetroChina and Sinopec currently holding a total of 750,000 tons. Fearing a repeat of the 2008 crisis scenario, when polyolefin prices had a US$100-200/ton weekly decline, traders are currently rushing to liquidate cargoes (mostly of Middle East origin), even at a loss.

HDPE
HDPE prices have fallen below US$1200/MT in Asia in the week of May 24, 2010 amid lackluster demand and bearish market outlook. Despite offers at such low offers, demand continues to be subdued, and deal conclusion has been sporadic. Iranian film-grade is being offered by Chinese sellers at US$1170-1180/ton CFR China for prompt lifting at the bonded warehouse. Offers for Southeast Asian origins were also lower by US$40-50/ton. Buy interest has been reported even lower, showing a gap between buyers interest and sellers offers. Buy idea for HDPE film has been heard US$180-200/ton below the new prices for Southeast Asian origin material.

LDPE
LDPE prices have fallen below US$1400/MT in Asia in the week of May 24, 2010 as markets await deal conclusion amid slothful buying interest. For LDPE film, a Middle East offer was received with an US$80/ton decrease and from Indonesia, the decrease amount on a sell idea was at $50/ton. A trader, meanwhile, gave a sell idea for Iranian origin which was US$20-50/ton lower for materials sitting in their bonded warehouse in China as demand is rather slow both in China and Southeast Asia. Traders prefer to deplete inventories instead of buying any more material.

LLDPE
LLDPE prices have fallen to US$1285/MT in Asia in the week of May 24, 2010 as the markets await deal conclusion. For LLDPE film, sell ideas and offers were down US$40-70/ton, and down US$70-100/ton for sell ideas to India. A trader offering Iranian origin reduced his sell idea by US$40-70/ton, while Middle Eastern producers decreased prices by US$50-60/ton, and from Indonesia a sell idea was down US$70/ton. Producers are not under too much pressure to sell LLDPE because of limited inventory, but the market sentiment continues to be bearish.

POLYPROPYLENE
Polypropylene prices have fallen below US$1300/MT in Asia in the week of May 24, 2010 amid weak demand and falling propylene values. The lackluster sentiments and pessimistic outlook have been triggered by sharply lower oil prices, amid concerns of Europe’s sovereign debt crisis, its contagion, especially to the US banking system, that has raised concerns of a repeat of the global recession of 2008-2009. These worries brought demand to a standstill. Uncertain global consumer confidence is expected to erode factory orders for finished goods made in Asia, leading to a lull in demand, prompting destocking amongst buyers. As PP is the largest derivative sector for propylene, a prolonged squeeze on PP margins has the potential to spark a fresh round of production cuts, and a price slash was imminent to prevent propylene stocks from building too quickly.

Source : plastemart