Local PVC offers rolled over in Thailand
A converter commented, “A few local producers revealed their April PVC prices with rollovers from March. The local market has also slowed down due to the upcoming Songkran festival as buyers don’t want to place any orders before the holidays. Sellers are having difficulties on their sales to the domestic market as demand towards pipe and construction sectors have been weakening.”
A compounder noted, “Local prices remained stable when compared to last month. We received offers from a local producer at THB34500/ton ($1003/ton) on FD Thailand, cash basis which are relevant for purchases at and above 100 tons. We are already covered until next month and not planning to make any purchases in April due to slow trading activities.”
A second converter commented, “In addition to the slow demand remained in place since first quarter, factors including global economic conditions and the government’s lack of budget support for infrastructure policies are other reasons of the stagnancy of the PVC market. Although our inventory levels are low, we still prefer to adopt a wait and see stance as we believe that offers will fall further during April.”
Domestic PVC prices are currently standing at THB34000-34750/ton ($989-1011/ton) FD Thailand, cash equivalent basis.
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