Company News | 2021-08-20 09:20:44
PVA resin price increasesd from October 2021
Asia Pacific
In Q4, the prices of Polyvinyl Alcohol skyrocketed to new heights with increase in demand mainly in China and shortage of raw material. The significant increase in the cost of key raw materials and utilities resulting from a rise in crude oil prices have affected the rates marginally. Furthermore, the domestic traders continue to experience pressure from soaring logistics and manufacturing costs associated with increased costs for facility maintenance and renewal. The FOB Qingdao prices for PVOH was raised by the USD 15 per tonne on w-o-w basis and the domestic price was assessed at USD 4060 per tonne in the last week of December. In India, the prices in the last week of quarter were 396/ton Ex-Mumbai. However, in the last week demand has remained stable in the domestic market. Restricted imports have compelled traders to implement consistent positive revisions. Besides, they have also been safeguarding their revenues, by transferring the freight cost pressure to the consumers.
Europe
In Q4, the costs of Polyvinyl Alcohol raced to the new statures with increased feedstock VAM and acidic acid costs. In October, the price of Polyvinyl Alcohol in Germany were surged to $4975/ton FD Hamburg. A critical reduction of long stretch shipments Europe to Asian market, more fragile cracker activities in the final quarter from low margin and logistics constrains additionally represented the tight equilibrium. There was a spike in PVOH estimating following the energy curtailment as many plants were closed down due to the government intervention. Maximum usage of energy in the manufacturing of Acetic Acid has likewise affected the significant expenses.
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