Indian players: Taiwanese major has sold out PVC allocation

According to market players, a major Taiwanese producer has sold out their April PVC allocation to India soon after they announced new offers this morning. The producer reportedly allocates 30,000 metric tons to India market, 15,000 tons to China and 20,000 tons to Southeast Asia (including Australia), market sources informed.

An Indian trader said, “We were not speedy enough to catch any quantity this round as the supplier sold out in half an hour time. Supply from international market is pretty tight as Japanese suppliers are under maintenance shutdown while Iranian cargoes could be affected during the long holidays from 18-26 March. We think prices might continue to firm up in the near term.”

Import ethylene based PVC prices to India currently stand at $850-860/t CIF, LC AS term.

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