Earlier, Engro Polymer further has increased PVC Resin prices by around Rs140 per bag effective from August 12, 2021. Engro Polymer further had earlier reduced PVC prices by Rs4,000 per ton as margins declined by USD100 per ton in June 2021.
PVC prices in Pakistan were supposed to witness a major decline as the Engro has made a major cut in price for the second time during the month of June 2021 due to a continuous decline in global prices.
Engro Polymer & Chemicals Limited had reduced the PVC price by Rs4,000 per ton. EPCL has so far reduced PVC prices by Rs47,700 per ton in the last two months as private imports of PVC increased due to a consistent decline in international PVC prices.
It is worth mentioning to note that PVC margins were USD940 per ton on 22-June-2021 as per a research note published by a Karachi-based brokerage house.