Chinese PVC producers reduce run rates: players
A source close to China’s Tianjin Dagu Chemical Industry Co Limited reported that the company cut production rates at their 800,000 tons/year PVC plant located in Tianjin. The producer is currently operating their plant at 70% of capacity.
A trader based in Hangzhou stated, “Local producers are cutting their operating rates as feedstock supplies are tight at the moment. PVC supplies remain steady in the local market while demand is not so strong. We are expecting to see a stable to slightly firmer trend in the near term.” According to him, local PVC prices have recently witnessed some slight upward movements ranging between CNY10-110/ton ($2-18/ton).
A source from a local producer reported that they raised their PVC prices CNY150/ton ($24/ton) compared to last week. He commented, “Prices are currently following a stable to firm trend as many ethylene based PVC plants are operating at reduced rates due to ethylene tightness. Demand from India and Southeast Asia is not doing well.”
In China, ethylene based PVC k67 prices are currently reported at CNY6030-6400/ton on an ex-warehouse China, cash including VAT basis ($846-898/ton without VAT) while prices for acetylene based PVC stand at CNY5730-6050/ton ($804-848/ton without VAT) with the same terms.
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