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Along with the approaching Chinese New Year holidays, players are reporting to receive lower offers for both carbide and ethylene-based PVC especially from China this week, where prices are at least $20/t lower compared to initial offers. Players attributed the softer note to recent significant reduction of ethylene costs as well as sellers’ depletion of stocks before entering holidays.

“The carbide-based and ethylene-based PVC offers are hitting as low as 650/t FOB and $670/t respectively, both on FOB basis this week, meanwhile, offers has also poses CNY50/t discount in domestic market. We are feeling uncertain with the outlook for post holidays and plan to remain cautious stance in the near term,” a major PVC maker from China said.

“The price gap between ethylene and carbide-based PVC are narrowing, at about $25-30/t. Recent decrease of ethylene costs are adding further pressures to the sellers with the approaching holidays and discouraging market demand. We feel that prices might remain largely stable over the near term,” an international trader commented.

A converter in Malaysia informed, “Thanks to the softer upstream costs as initially we are expecting prices had reached to the bottom level. We are planning to negotiate for a better deal as we are going to replenish some stocks within this week before entering Chinese New Year holidays.”

Import ethylene-based PVC price in Southeast Asia currently reported at $690-740/t and carbide-based PVC at $670-700/t, both on CIF Southeast Asia, cash equivalent basis.

Kindly visit CommoPlast Daily Price for detailed daily prices in China and Southeast Asia market, or contact us at commoplastinfo@gmail.com for assistance.