Most contracts on the European PVC market were concluded with moderate price reductions compared with the previous month. Customers were aiming for a decrease that reflected the fall in ethylene prices, while producers wished to keep a portion for themselves. High-volume purchasers were generally able to achieve a reduction commensurate with the ethylene reference.
Precisely at the end of the month, there were reports of deals concluded in this range, while in mid-month, quantities were traded with lesser discounts.
Production has stabilised again and there were no reports of plant outages. In view of the neutral cost development and the balanced market, all the signs pointed to a rollover for February.