Commodity Market Report
Vinyls - vinyls global monthly market overview September 2019
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Report summary
In the US, integrated vinyls producers have been hit hard by rising ethylene costs (spot US ethylene prices have surged over the last month) and low caustic soda prices. The impact on margins has been felt. Producers are looking for relief on the PVC side of the chain by asking for 3 cts / lb in October. The problem of weak domestic demand and low export prices remain, however, and while PVC buyers may see higher prices for resin from the ethylene cost push, the full 3 cents may not be supported. Globally, weak demand has been the limiting factor across the chain. Spot prices for PVC, EDC and caustic soda have remained at recent lows as buying interest continues slow. With prices so low, the next move would seem to be only higher, but for prices to respond as such demand must grow accordingly. Thus far we've seen little indication of positive demand-side sentiment and it appears some time before global buyers find confidence enough to stimulate added consumption.
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