China’s local PVC market dips to almost 9-month low
The persisting downturn in the local PVC prices was led by the sluggish demand, retreating PVC futures on the Dalian Commodity Exchange and high inventory levels. Nowadays, many buyers are sidelined due to the expectations of additional price cuts, considering the aforementioned bearish factors.
Source: ChemOrbis Price Wizard
“Local PVC prices have continued to fall this week amid the declining future markets. Sellers are feeling sales pressure due to their high inventory levels; therefore they are willing to give some discounts. Buyers are also waiting for further declines,” commented a compounder.
An ethylene-based PVC resin producer also said that they cut their offers by CNY100/ton ($15/ton) this week as demand is still weak in China and buyers are expecting to see additional decreases in the days ahead. “We think that local prices are likely to go down further for at least another two weeks in order to consume high stock levels,” added the producer.
Players also point out that demand from construction sector is also disappointing although it was expected to improve at this time of year.
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