China’s local PVC market sustains slight firming on limited supply
by ChemOrbis Editorial Team - content@chemorbis.com
In China, the local PVC market has witnessed fresh price hikes so far this week on the back of limited supplies inside the country.
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.
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.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- European PP, PE buyers sideline ahead of further drops in June
- China’s April PE imports fall to around 1 million tons, lowest since 2018
- Vietnam’s polymer markets buckle under an influx of Chinese cargoes
- Divergence grows between Egypt’s import and local PP, PE markets
- PP markets in China, Vietnam hit 3-year lows, readying to test new lows
- African PE, PP markets extend slide into May
- Asian PS, ABS markets at 2½-3-year lows amid Chinese oversupply
- India’s Q1 PVC imports hit record-high; did buyers rush to stock up before expected restrictions?
- LDPE prices move below LLDPE, HDPE on global lethargy
- Slide deepens in Middle Eastern PP, PE markets through May
