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PVC producers announce December 1 price increases
HOUSTON, November 13, 2018 (PCW) – US PVC producers have now all announced a price increase effective December 1, 2018.
Formosa Plastics led off the effort with a letter to customers dated Friday, November 2, stating that it will be raising prices by 2 cpp on all of its suspension grade resins and compounds as of December 1.
OxyVinyls followed with a letter to customers dated Wednesday, November 7, stating that it will be raising prices by 2 cpp on all resin shipments as of December 1. For clarification, OxyVinyls also stated that it was rescinding the October 1 price increase announcement, also for 2 cpp, which had not taken effect.
Shintech announced on Friday, November 9 that it, too, was raising the price on its PVC resins as of December 1.
Westlake was the last supplier to make a price increase announcement. On Monday, November 12, Westlake informed customers that it will raise the price of for all of its suspension grades of PVC by 2 cpp on December 1.
Customers have been viewing the price announcements with amazement and skepticism, as they estimate it has been 30 years since the last time a PVC price increase was announced for December. Normally, PVC prices slide in November and December. They are speculating that this price increase has been announced for December in order to counteract any price resets suppliers make during contract negotiations. – Donna Todd