Asia PVC market extend journey north 

In Asia, the PVC market continues to move higher amid firmer upstream costs and healthy demand in the India market. Players in the region reported receiving carbide based PVC with $10-15/t higher than last week while ethylene based PVC recorded some $30/t increased.

A Chinese carbide based PVC producer reported, “We lifted our export offers to $725/t FOB China term, however, demand in Southeast Asia is not that great. Firmer upstream costs and healthy demand in the near-by India market is supporting higher prices, and we hope SEA customers would accept the new price levels.” 

Meanwhile, an Indian trader reported receiving offers for Chinese ethylene based PVC with $30/t hike compared to last week at $860/t CIF India, LC AS term. The source added, “After adding the antidumping duty, this cargoes is technically $100/t higher than the last offers from Taiwanese major. We think Indian market is not ready to accept this price level although demand here is good now.”

The general expectation is that market would follow the firming trend in the coming weeks as Indian market in entering the peak seasonal demand, which would outshine mediocre buying interest in Southeast Asia and China markets.

Kindly visit our Daily Price section on www.commoplast.com for detailed import PVC prices to Asia market this week.