Asian PVC players voice expectations for Dec pricing
In India, a trader commented, “Supplies are ample on the traders’ and end-users’ side as they secured some cargoes from the local producer during a price protection taking place between October 25-November 1. Sellers are giving offers at around $880-900/ton CIF in order to clear their inventories; but the response is quite weak as buyers anticipate December pricing to be lower and prefer to wait until they see the major Taiwanese producer’s new offers.”
A trader said, “Demand remains weak so far in India and importers concede to giving discounts or sell below their costs in order to conclude deals. We think the Taiwanese major will announce its December prices by next week with rollovers from November.”
In China, a few PVC producers noted that they are mostly expecting to see decreases of around $10-30/ton on a major Taiwanese producer’s December prices. “We think the December pricing will be announced with rollovers to $30/ton decreases considering the higher sales pressure on the major producer following the restart of its plant.”
On the other hand, a Chinese producer opined that they are expecting the major producer to reveal its new prices with rollovers to $10-20/ton increases. A source from the producer noted, “Local prices are mostly stable so far this week in China mainly due to the support of higher coal prices while the environmental inspections still continue. Plus, demand in India shows signs of improvement following the Diwali holiday and the major producer’s supply is not much.”
Meanwhile, the major Taiwanese producer had announced its November PVC prices with visible decreases of $50/ton to China and Southeast Asia and $70/ton to India when compared to October at $940/ton CIF India, cash and at $900/ton CFR China/CIF SEA, cash.
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