April expectations voiced for Taiwanese major in Asian PVC market
Following the producer’s decision to raise their March offers to all Asian markets, players’ expectations are mostly towards a new round increase of around $20-30/ton for April as well; due to the disrupted ethylene supplies of the producer and improving demand in line with the high season for PVC.
A source from a major Taiwanese producer stated, “We believe that there is no room for any downward movement in PVC prices for the moment despite concerns over demand in China. We are not able to run our plant at full rates due to problematic ethylene supplies. The peak season has started in India while the country will receive limited quotas from the US due to a couple of maintenance shutdowns in the country.”
A source from an Indonesian producer stated, “We think prices will come with increases as demand from India is strong. The Taiwanese major can easily sell 40,000-50,000 tons to Indian market.”
A Vietnamese converter stated, “We expect demand to improve given the high season for PVC, which will last until June. Therefore, we think the Taiwanese major will implement a hike of around $20-30/ton for April.”
A Taiwanese agent, meanwhile, voiced larger hike expectations and said, “We think the Taiwanese major will lift its prices by $40-50/ton from their last levels.”
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