Domestic ethylene based PVC prices move south in China
The seller stated, “Many producers are operating their plants at 60-70% capacities nowadays in order to avoid an oversupply situation. Demand remains stagnant and we are not feeling optimistic regarding the near term outlook.”
A second trader in Shanghai reported that they maintained their offer levels for ethylene based PVC at CNY6900-7000/ton ex-warehouse China, cash inc VAT ($961-975/ton without VAT) while they were able to conclude some deals at the CNY6800-6900/ton levels. He stated, “Demand is slowing down due to the winter season and we do not expect to see any real improvements in buying interest until the end of the year. Prices are not likely to firm up for the coming two-month period.”
A source from a domestic producer, meanwhile, commented, “We are mostly focused on the local market nowadays yet demand for domestic materials is still sluggish especially in Northern China where the slow season has begun. We expect prices to continue to follow a softer path in December as buying interest is likely to fade further in line with the winter season.”
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