Local PVC prices for August emerge in SE Asia
According to a trader based in the Philippines, a domestic producer rolled over its August PVC k67 offers from last month at PHP48,000/ton ($844/ton without VAT) on an FD Philippines, cash including VAT basis. The trader said, “We are planning to secure only a small amount of material for August as our inventory is still sufficient in the midst of the ongoing weakness of demand. The rainy season continues to hamper buying appetite.”
In Vietnam, a converter received August PVC k67 prices from a local producer with rollovers from July at VND20,500,000/ton ($910/ton) on an FD, cash basis. “We found the producer’s new levels to be too high considering the weak status of demand in the country. We placed a VND500,000/ton ($22/ton) lower bid. If they accept our counter bid, we might consider making a small scale purchase. We expect to see better demand towards our end products from September onwards,” commented the buyer.
A trader in Indonesia also reported that a local producer elected to roll over its August PVC prices from last month at IDR12,000,000/ton ($896/ton) on FD Indonesia, cash basis.
In Malaysia, PVC players are yet to receive new August prices from the local market.
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