Acetylene based PVC prices move higher in India, SEA
A trader based in India reported that they received an acetylene based PVC offer with an increase of $40/ton from last week at $850/ton CIF India, cash. “Demand is quite strong in India while local producers’ supplies are limited. Plus, the arrival of import cargoes seems to have delayed. All these factors are helping the market to rise and we expect to see further increases over the near term,” he commented.
A second trader in India stated that they received higher acetylene based PVC offers at $840-850/ton CIF, cash. He said, “Local demand has improved in line with supply tightness. The arrival of import cargoes has been delayed and we expect a local producer to announce increases by next week. Meanwhile, players are mostly waiting for a major Taiwanese producer’s April announcements before they decide their next move. We are feeling quite optimistic regarding the near term demand outlook.”
In India, Chinese acetylene based PVC prices currently stand at the range of $825-850/ton on a CIF, cash equivalent basis. When compared to last week, the range indicates increases of around $25-50/ton.
Meanwhile, in Southeast Asia, acetylene based PVC also witnessed increases of $25-30/ton week over week. A trader offering acetylene based PVC to the regional markets at $820-830/ton CIF, cash, stated, “The acetylene based PVC market has been pushed up by limited supplies for ethylene based cargoes, although demand is not that encouraging in Malaysia nowadays. We are expecting a major Taiwanese producer to announce their April prices with increases next week.”
Some players commented that higher prices for acetylene based PVC cargoes will provide support to a major Taiwanese producer for their new April prices as the producer will have more room to increase their prices without losing their competitiveness against acetylene based PVC.
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