Indian PVC players comment on Taiwanese major’s quick sell-off

A Taiwanese major approached the Indian PVC market with a modest increase for January in the middle of the week. This was followed by the news that the producer sold out its allocation to the country within around an hour after the announcement. Later on, Indian players voiced their opinions about the market’s response to the January pricing as well as the major’s quick sell-off.

Meanwhile, the major Taiwanese producer announced its January PVC offers to India with an increase of $20/ton from its December offers at $910/ton CIF India. Although some players were cautious about considering the long supplies in India ahead of the new pricing, the major’s decision came in line with most players’ initial firming expectations based on improving demand in the country.

An agent of the major producer noted, “The producer sold out its quota to India and it happened very fast this time.”

A trader reported that several Asian producers sold out their allocation to India. “Demand comes from both end-users and traders,” he added.

Another trader commented, “The Taiwanese major sold out quickly within the announcement day. However, we think this is not big news considering that the volume allocated to the Indian market was not high. We expect other producers to give offers at around $900-910/ton CIF level.”