Local PVC prices move lower in the Philippines
One domestic producer reported said that they are currently offering December PVC cargoes at PHP54000-55000/ton FD Philippines, cash including VAT ($1082-1103/ton without VAT), down PHP4000-5000/ton ($90-112/ton) from their November deals. A producer source commented, “Buyers are not willing to make fresh purchases ahead of the long holiday period. We are feeling bearish regarding the near term outlook.”
Meanwhile, a source at another local PVC producer expressed their sell ideas with decreases of PHP1000-3000/ton ($22-67/ton) at PHP55000/ton FD Philippines, cash including VAT ($1103/ton without VAT).
The source stated, “Our customers are already placing bids at PHP53000/ton FD, cash inc VAT ($1063/ton without VAT), PHP2000/ton ($45/ton) below our sell ideas. We are now waiting to hear a major Taiwanese producer’s new January announcements before finalizing our new prices.”
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