Acetylene based PVC prices move higher in China on firmer futures
A trader in Shanghai commented, “Local prices, particularly acetylene based PVC, are firming up this week in line with stronger futures prices this week. However, demand is yet to track this firming and for this reason, we think prices may face a correction in the near term.”
A buyer stated, “Local prices are tracking the futures market higher. We expect prices to undergo a correction but we are just not sure when.”
Another trader also noted, “We think local prices may face a downward correction as prices increased too much recently.”
A trader in Xiamen pointed to the government’s underground piping projects and cited this as one of the reason of firmer futures prices as it may strengthen demand in the second half of the year.
In China, acetylene based PVC prices increased by CNY250/ton ($37/ton) so far this week to CNY6050-6200/ton ($757-776/ton without VAT) on an ex-warehouse China, cash including VAT basis.
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