Commodity Market Report
Vinyls - vinyls global monthly market overview October 2019
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Report summary
As US ethylene contract prices have settled higher in August and September, US PVC producers are seeking 3 cents/lb on domestic contract prices. In response, buyers continue to point to weak demand and a soft export market. While the ethylene cost push certainly justifies increased prices, we don't anticipate a full 3 cents being implemented. Globally, the story for PVC is much the same as the US. Weak demand has had export prices out of eastern Asia tumble, leading to the implementation price protection schemes and additional discounts in an attempt to stimulate added volumes. With only limited success, producers have been forced to push offers significantly lower to move PVC volumes. Adding to the bearish sentiment, global caustic soda prices continue to seek bottom. Integrated producers seeking to capture returns on the caustic side of the chain have had little success given especially weak demand across the alumina and pulp and paper segments.
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