Indonesian producers reduce PVC offers
A source at one of the producers reported that it is hard to predict whether buying interest will pick up in Indonesia as demand remains weak due to the upcoming long holidays. “We plan to focus on India and Australia if we fail in our domestic market as it seems like there won’t be any transactions soon,” said a producer source.
The second producer has reportedly followed suit, although they had initially implemented a smaller decrease of $10-15/ton. A producer source said “VCM supply is tight but prices have been softening for the past few weeks. In terms of our export sales within Southeast Asia, we cannot ship material until July and therefore, we are not sure of the health of buying interest.”
PVC k67 offers from both producers are currently quoted within the range of $740-760/ton on a CIF SEA, cash basis.
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