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Vynova begins PVC allocation with October maintenance planned: source

Increase font size  Decrease font size Date:2020-09-04   Views:58
European chlor-alkali and PVC producer Vynova put its customers on allocation for September supplies, while preparing two of its production sites for October maintenance works, a source familiar with the company's operations said Sept. 1.

Vynova's maintenance originally planned for August at Mazingarbe, France, will take place in October, along with its Beek site in Netherlands, where the associated Tessenderlo chlor-alkali and VCM production will also undergo works, the source said.
"Our large Tessenderlo unit will be down in October and two out of three plants will be down in October. So we will have to gather stocks now and have to put customers on allocation," the source said.

In addition, Vynova will not be active in export markets in September.

"Everyone still has lower stocks. [Producers] have big backlog for exports. We decided not to be active in exports this month. It's a pity, looking at demand. But we had to postpone [maintenance] in spring and now we have to carry out the works, due to regulatory requirements," the source said.

Vynova's September restrictions, in combination with Inovyn's force majeure on PVC declared on Sept. 1 at several plants is expected to remove a sizable volume from the market during the month. Additional ongoing unplanned issues at other EU producer sites are also adding to supply tightness, sources said.

"In Europe there is real tightness," a source said. "We see it in our own internal system. A lot of big customers cannot find cargo, not that demand is that super good, but cautiously, in a conservative way, above what was forecast. It's on an uptrend."

S&P Global Platts assessed FD NWE PVC spot prices stable in the week to Aug. 26, at Eur 730/mt, but prices are rising this month, according to industry sources.

Due to lack of European supplies, PVC prices remain inflated also in Turkey, with September offers above $1,000/mt compared with mid-$900/mt levels in late August, sources said.
 
 
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