Indian producer continues to slash local PVC prices

For the third time since mid of March, a major Indian producer has announced price reduction for local PVC offers, signalling the persistently weak demand condition in this market. Latest price list show INR1500/ton ($22/ton) drop from late March 2019. 

Market players said that the reduction is a guarantee that import offers would drop further in the near term unless demand significantly revives, which is less likely ahead of the General Election.

“Local demand is very soft at the moment. Companies are working on book closing and tax paying, hence we do not anticipate more bullish outlook in April,” a local trader added.