Demands for hikes of €40-50/t for PVC base polymer were voiced by the producers at the start of February already, since they regarded their margins as too thin. Although they met with little success in the first couple of weeks, partial increases were achieved midway through the month.
Various minor incidents, including maintenance and shutdowns, boosted producers’ demands for hikes. These curtailed supply in some cases, while higher volumes were being ordered at the same time.
Despite the €50/t reduction in the ethylene reference contract at the start of March, producers intended to stick to the rollover that they were targetting in the case of the base resin. The aim was to maintain margins wherever possible.