North American PVC resin prices have declined an average of 1 cent per pound since Nov. 1, marking the second consecutive monthly price drop for that material.
PVC prices also have dipped three times in the last four months. Prices were flat in September after being down 2 cents in August.
A drop in seasonal demand was cited as a reason for the November price drop, as construction activity across most of the U.S. slowed with the start of colder weather.
U.S. housing starts declined slightly in October, coming in at an annual rate of just under 1.42 million, according to the U.S. Census Bureau. That number was down almost 1 percent vs. September, and down almost 8 percent vs. the same month in 2023.
Construction activity accounts for about 60 percent of North American PVC demand. Combined with previous increases and decreases, PVC prices now are up a net of 4 cents so far in 2024.