Indian PVC prices firm up for March on healthy demand
According to data from ChemOrbis Price Index, import PVC prices to India have posted sharp increases over the past week to hit the highest levels seen since early November, 2015. The recent increase also marked the end of a downward trend that had brought prices to their lowest levels during the 2015-2016 period.
A converter commented, “We believe that the Taiwanese major will achieve their increase targets for this month as demand is good. We had fortunately purchased some material in the previous weeks and are therefore in no rush to make fresh purchases. We expect to receive new offers from Japanese and South American sellers next week.” A trader added, “We hear that the Taiwanese major is able to sell without any problems. We received higher offers for Iranian material and our supplier is taking a firm stance on their prices. We feel that strong demand for import cargoes might push local producers to raise their prices in the days ahead.”
Another trader reported receiving offers for South Korean PVC at prices similar to those announced by the Taiwanese major. “Prices are firming as demand is good while many buyers are holding low stocks as they had purchased in small quantities in the past few months. We hear that both South Korean and Iranian producers are facing supply limitations for this month so availability is a bit tight,” the trader stated. A third trader added, “Demand is picking up along with the season while many buyers are holding low stock levels as the bearish trend in place in the prior months dissuaded them from building stocks. We believe that prices will continue to rise through to April and May.”
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