Local PVC availability remains limited in the Philippines
A source at the producer commented, “We have some backlog orders to clear from August and we are still not offering for October shipment to our local market.”
A trader in the Philippines reported, “We expect demand to be steady in September. We are receiving cargoes that we booked in August from PRI as they are still facing some hiccups. Although they were expecting to return to normal production by September, we don’t think that they will be able to offer to the local market in the near term as they were already overbooked in August.”
A second PVC producer, General Chemical & Resins Consortium Inc (GenChem), also confirmed the local tightness. “We offered $40/ton higher for September and we easily sold out our monthly allocation despite our large hike. We are now preparing for the October production,” commented a company source. Their prices were reported at PHP52,000-53,000/ton ($991-1010/ton) FD, cash inc VAT.
Imports are reportedly not helping to relieve the local tightness. A converter commented that they are not planning to source import materials as they find it hard to deal with customs duty problems due to the new government.
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