Indonesian producer raises local PVC prices for April
“We lifted our offers due to firmer costs, even though demand remains stagnant in the local market. Upstream costs are firm on the back of supply limitations for ethylene and VCM. We heard that Thailand is also facing an ethylene shortage nowadays. We expect other producers to announce their new prices with increases,” the source stated.
A converter, meanwhile, reported that they have received offers for locally-held Thai and South Korean PVC at $980/ton and at $990/ton on an FD, cash basis, respectively. He commented, “Local demand is not active nowadays while the market is currently oversupplied. We are holding sufficient stocks, but we may still need to secure some cargoes from the local market. We heard that a local producer increased their prices by $70/ton, which we find to be too high.”
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