Local PVC supply limited in Philippines
A local producer commented, “We haven’t received any VCM cargoes yet as our feedstock supplier has been having a maintenance shutdown, which prevents them from supplying material to us since last month. Therefore, we had to source some import PVC from an Indonesian supplier.”
A buyer also reported that a second PVC producer in the Philippines faced a technical glitch at their plant and was unable to give offers for k70 grade. “Local PVC supply is limited and we heard that the producer plans to sell Japanese materials . As their stocks can last around 2-3 weeks, they are planning to source more material from the import market,” he said.
Local prices for PVC k67 were reported at PHP48,000-49,000/ton ($925-944/ton excluding VAT) on a FD Philippines, cash basis.
Market expectations for imports, meanwhile, remain bearish following the price announcement of a Taiwanese major for July, which indicates a second consecutive month of decreases. The overall import k67 range was reported at $740-770/ton CIF Philippines, cash.
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