Firming trend gains momentum in China’s local PVC market
Apart from the aforementioned factors, particularly acetylene based PVC prices have found support from rising coal prices due to the flood in China, which caused concerns over electricity supplies from the country’s two biggest electricity source and resulted in increases in export prices of coal as well as freight rates.
A trader in India stated that Chinese suppliers withdrew their export offers and focused on the local market as local prices are posting noticeable increases. “Our Chinese producer informed us that their offers will increase further next week and we think this is because of the steep increase of coal prices as well as the new environmental inspections.”
A few Chinese traders affirmed the impact of firmer coal prices and commented that firmer acetylene based PVC prices pushed ethylene based PVC prices higher while an ethylene based PVC producer raised is export offers by $10/ton from last week.
In China, acetylene based PVC prices increased by CNY250-300/ton ($37-44/ton) so far this week to CNY6300-6500/ton ($792-817/ton without VAT) on an ex-warehouse China, cash including VAT basis. Meanwhile, ethylene based PVC also posted a weekly increase of CNY200-400/ton ($29-59/ton) this week to CNY6500-6800/ton ($817-855/ton without VAT) with the same terms.
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