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Local PVC prices expected to move lower for July in SEA

by ChemOrbis Editorial Team -
  • 25/06/2012 (04:19)
Players in Southeast Asia report that local PVC prices within the region are set to move lower for July in accordance with softening July import prices, strong resistance from buyers and declining upstream costs. Trading activity has been limited recently as most buyers are holding out for new July prices before making any additional purchases.

To track weekly developments in Southeast Asia’s PVC market see Southeast Asia/India PVC Polymer Digest (For members only)

In Indonesia, a source at a domestic producer stated, “Local PVC prices have come down by around $100/ton for June and we think that prices might fall by another $50-60/ton in July. PVC demand seems to be sluggish in most major global markets and we are concerned about the possibility of an increasing number of overseas cargoes being directed to Indonesia.” A PVC compounder expressed their buy ideas for July with decreases of $100/ton from the most recent offer levels they received. “We are sticking to the sidelines for now and will not return to the market before we see new July prices from domestic producers,” the compounder reported. A PVC pipe manufacturer added, “We purchased only around half of our normal allocations in June in spite of the fact that prices posted significant month over month decreases. We elected to delay some of our purchases to July in anticipation of seeing more attractive prices next month.”

In Vietnam, buyers are expressing their buy ideas for July with decreases of around $120-125/ton when compared with currently prevailing local price levels. “We are not willing to make any purchases for now as we believe that prices will see additional decreases in the coming month,” a PVC compounder reported. A converter manufacturing PVC pipes and fittings added, “Local PVC prices have come down recently but we still find local prices to be uncompetitive when compared with the prevailing import prices. We are hoping to purchase some material soon as demand for our end products is starting to pick up, but we will wait for a little while longer in anticipation that more attractive offers will be available soon.”

Buyers in Thailand are also delaying their purchases in expectation of further price reductions next month. “Domestic prices fell by around THB2000/ton ($64/ton) over the past week but we have elected to stick to the sidelines as we believe that prices will see additional reductions of around THB1000-1500/ton ($32-48/ton) next month,” a PVC pipe converter reported. A PVC compounder added, “We are only purchasing according to our needs for now as we believe that prices will fall by at least THB1000/ton ($32/ton) next month.”

Players in India are also predicting lower local prices for July. “Converters are only purchasing to cover their immediate needs for now as they anticipate seeing lower prices in the local market next month. We also expect to see lower prices next month but are not yet ready to give any specific price estimates,” a distributor based in New Delhi stated. A PVC pipe and fitting manufacturer added, “Supply is sufficient in the local market and demand for our end products is not very encouraging. Therefore, we feel comfortable sticking to the sidelines while waiting for lower offers to emerge in the coming month.”
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