Domestic PVC prices in Indonesia extended gain

Indonesian players reported receiving fresh PVC offers from major local producers for October delivery at $40/ton hike compared to last month, on the back of surging VCM costs and support from international trend. 

A buyer received latest offers at $970/ton FD Indonesia, cash term informed, “We have anticipated this price increment, therefore, we have purchased sufficiently in the previous month. Our end product demand is still weaker than expected. With the recent higher offers in the import market, we believed that domestic suppliers might attempt another hike; however, buyers might become reluctant to replenish at higher prices.”