Acetylene based PVC hits 5 year high in China
Last week, some players expressed their expectations of seeing downward corrections on prices since prices ran up too quickly. However, this week’s price range contradicted these expectations. Chinese acetylene based PVC producers reported higher prices this week within the range of CNY7300-8300/ton ($923-1049/ton without VAT), up by CNY300-470/ton ($44-69/ton) from last week.
A local trader receiving offers on the high end stated, “End users had shown resistance to the former high levels, but prices continued to follow a firm note this week due to tight supply and strong VCM costs.”
Local prices are expected to maintain the current trend in the near term with the support of the supply tightness. Meanwhile, import prices in the Chinese PVC market are also on a firm note. After a $40/ton hike implemented by a Taiwanese major last month, players expect to see higher levels from Asian producers for December offers.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Turkey’s PVC market looks for direction amid divergent factors
- Pent-up demand lifts India’s PP market
- Europe continues to defy global PVC trend
- Egypt’s PP, PE markets continue to slide in January
- Europe’s PE markets under pressure from rising supplies
- PP demand fares better than PE in Turkey
- Taiwanese major poised to come lower for a 3rd month to Asian PVC markets
- Covid concerns loom large in China, hitting demand and supply-chain
- Egypt’s PVC markets extend drops into January
- SE Asian PP, PE markets look for direction amid tepid demand, rising freights