Local PVC prices move lower in SE Asia
In Indonesia, a source from a local producer reported that they implemented a decrease of $20/ton on their July PVC prices as demand is slow ahead of the Ramadan holidays. “We think that demand will not improve before August,” the source stated.
In the Philippines, a pipe manufacturer reported that he purchased some PVC from a local producer at PHP47000/ton ($931/ton without VAT) on an FD, cash inc VAT basis. “Pipe demand is regular and we are running our plant at full rates. Hence, we made a purchase from a producer who reduced their prices by PHP1000/ton ($22/ton) compared to their previous offer. We expect prices to remain mostly stable in August,” the converter commented.
A source from a Vietnamese producer reported that they cut their local PVC prices by around VND800000/ton ($37/ton) from last month. The source commented, “Following the release of some governmental projects, demand has started to improve. Hence, we believe that prices will follow a stable trend for the near term. Meanwhile, import PVC prices may witness some increases in the days ahead due to limited supplies from Taiwan, Japan and South Korea where several maintenance shutdowns will be conducted soon.”
In Thailand, a pipe manufacturer reported that local PVC prices decreased by THB1000/ton ($30/ton) while they managed to obtain a further discount of THB300/ton ($9/ton) for cash payment. The converter was offered local PVC at THB29700/ton FD, cash ($880/ton). “Demand for our end products remains sluggish in the face of the rainy season. We expect buying interest to improve after the upcoming holidays,” he stated.
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