Taiwanese major sold out PVC to China, closed booking in India

A major Taiwanese producer implemented some $40/ton hike on PVC cargoes to be delivered in November to Asia market earlier this week, and after facing initial resistance, the maker reportedly sold out allocation to China and closed booking in India.

An Indian trader informed, “Respond in India toward the Taiwanese producer’s prices is not as good as expected, however, domestic suppliers have also lifted their offers by INR2500/ton ($37/ton), therefore, we believed that buyers would still proceed with their purchases. Despite slower buying interest, we do not expect any price revision from international suppliers.”

Meanwhile in China, limited supply for ethylene based PVC in local market has kept demand on the rise in the past couple of months. A trader informed, “We managed to sell out all quantity to China as buyers show relatively positive respond for the new offers. With the current VCM costs, we think market might remain on the firming trend in the near term.”