China’s local PVC market sustains slight firming on limited supply
Data from ChemOrbis Price Index suggest that the weekly average of local ethylene-based PVC k67 offers has reached a four-month high following the recent round of price gains. In spite of the slump in crude oil futures, the PVC market sustained its slight firming given availability issues.
A trader reported that he lifted his offers by CNY100/ton ($15/ton) for ethylene-based PVC and by CNY50/ton ($7/ton) for acetylene-based PVC when compared to last week.
“Supplies are tight given the government’s stricter environmental inspections following the explosion near Hebei Shenghua’s PVC facility. Plus, most ethylene-based PVC producers oversold their allocations in the previous weeks. Demand is moderate, with buyers continuing their need-only based purchases,” the seller commented.
Local PVC k67 prices are currently reported at CNY7400-7500/ton ex-warehouse China, cash including VAT ($926-938/ton without VAT). As for acetylene based PVC k67, prices are reported at CNY6650-6750/ton with the same terms ($832-845/ton without VAT).
Meanwhile, May PVC futures on the Dalian Commodity Exchange were slightly up by CNY15/ton ($2/ton) on a weekly basis on December 25.
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