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Local PVC prices for June announced lower to SEA

by ChemOrbis Editorial Team -
  • 01/06/2012 (04:26)
Players in Southeast Asia report that regional producers are announcing their local PVC prices for June with significant decreases from May in accordance with the large price declines seen in import prices. Seasonally slower demand and softer upstream costs were also cited as factors weighing down on prices.

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

An Indonesian producer stated that they announced their initial June prices with decreases of $100-150/ton when compared with their May done deal levels this week. “We lowered our prices as we want to maintain our competitiveness against import origins, which have fallen sharply over the past month. Demand has slowed down a bit when compared with the past week,” reported a producer source. A PVC compounder reported, “We had originally given our buy ideas for June with $50/ton decreases from May but are now seeking $100/ton decreases given the steep losses in regional markets. Government construction tenders are proving a steady source of demand, although private demand has weakened somewhat.”

In Malaysia, a domestic producer stated that they reduced their prices by MYR80-100/ton ($25-32/ton) for June. “We cut our prices in accordance with weakening international trends. We are not feeling satisfied with our sales for now as buyers claim that they can locate more competitively priced cargoes,” a producer source reported. Another domestic producer expressed their June sell ideas with decreases of MYR100-200/ton ($32-64/ton) from May. “Demand is not very good these days and most buyers are placing bids at prices even lower than our new sell ideas,” a source from the producer stated.

In Thailand, a PVC sheet manufacturer reported that they received new June prices from the domestic market with decreases of THB2000/ton ($64/ton) from May, with the decrease amount reported by the converter being consistent with the most recent June sell ideas reported by domestic producers. “We are in no rush to purchase for now as our stock levels are sufficient, although we might consider making some purchases if sellers would concede to additional decreases of THB3000/ton ($95/ton). We are seeing good demand for our end products these days but have not been able to expand production due to a manpower shortage,” the converter commented.

A Vietnamese producer reported that they have yet to announce their new local prices for June while adding that they are currently targeting a month over month decrease of $10-15/ton. “Sentiment is bearish in the Vietnamese market and we are not very confident about our sales prospects for the coming month. A Vietnamese PVC compounder expressed their buy ideas with steeper decreases of $72-85/ton for the coming month. “We plan to meet our immediate needs from the import market for now as we feel that local PVC prices still have room to come down,” the compounder reported.

A Philippine producer announced their local PVC prices for June with decreases of PHP3000-4000/ton ($69-92/ton). “We reduced our prices in the face of poor domestic demand and falling regional trends. Our sales remain sluggish even after our most recent price reductions,” a producer source reported.
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