Indian PVC market rises on boosted demand
A local producer in India has also revised their offers upwards after keeping their levels stable for two months.
A trader from India reported, “We received new offers from the Taiwanese major with $40/ton hikes from February. An agent from the producer informed us that they have already sold out for March. PVC demand in India has picked up noticeably, particularly from the irrigation sector, in line with the warmer weather. Offers from China are posting increases every week.”
A seller from Pakistan also noted, “We think that carbide based PVC prices will remain strong as the Chinese government is following a strict policy to cut down coal production to reduce pollution.”
A source from an ethylene based PVC producer commented, “Buyers in China are not rushing to make any purchases now as they are holding sufficient inventories and manufacturers still haven’t returned to their normal production rates following Chinese New Year holidays.”
PVC markets in Asia are expected to maintain their strength in the near term as the market activity is expected to increase in the construction and irrigation sectors.
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