Asian PVC market holds firm prior to Feb announcement
India’s local PVC market hits 4-month high
After a major Taiwanese producer’s January hikes found acceptance in India and reinforced the firm sentiment in the import PVC market, a domestic producer also lifted its offers in the first week of 2019 mainly due to firm demand.
The weekly average data from ChemOrbis Price Index show that India’s local PVC market has reached its highest levels since early September 2018 in the week that ended January 4.
China’s PVC market is supported by tightness despite winter season
Acetylene and ethylene-based PVC prices in China have been following a mostly stable to slightly firmer trend for more than a month.
Although buying interest for PVC applications is limited in China due to the winter season and market activities are expected to slow further down given the approaching Chinese New Year holidays, the sentiment in China’s local PVC market has remained firm with support from low supplies.
Meanwhile, the government is likely to tighten its environmental inspections following two fatal blasts that occurred in late 2018.
Expectations call for new round of slight increases for Feb
Asian PVC players have been voicing firmer expectations for the major Taiwanese producer’s February announcement, citing availability issues and firm demand particularly from India.
An Indian trader commented, “We think the major producer will apply increases of $20-30/ton for February as demand from India is likely to remain firm.”
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