Major Indian PVC producer lifts local offers, others follow suit
by ChemOrbis Editorial Team - content@chemorbis.com
A major Indian producer has raised PVC offers in the domestic market by INR1000/ton ($12/ton) with effect from March 1, according to traders. The move has caught players by surprise at a time when ample supplies from China are being directed towards India. The producer’s hike notification has been followed by two other domestic producers, meanwhile.
The latest hike has meant local PVC K67 prices for the producer’s customers in western India have risen to INR78,000/ton ($941/ton), on a FD India, cash basis. This follows a $30/ton increase in the previous week by a major Taiwanese producer on March PVC offers to Asian buyers.
A major trader operating in India commented, “This hike has come as a surprise, especially since India has been receiving abundant supplies from China. One possible explanation could be that US suppliers have continuously increased FAS Houston levels, making their products less competitive in Asian markets.”
In the meantime, two other domestic PVC producers have followed suit and raised their offers by INR1000/ton ($12/ton) as of March 1 in tandem with the major producer.
The latest hike has meant local PVC K67 prices for the producer’s customers in western India have risen to INR78,000/ton ($941/ton), on a FD India, cash basis. This follows a $30/ton increase in the previous week by a major Taiwanese producer on March PVC offers to Asian buyers.
A major trader operating in India commented, “This hike has come as a surprise, especially since India has been receiving abundant supplies from China. One possible explanation could be that US suppliers have continuously increased FAS Houston levels, making their products less competitive in Asian markets.”
In the meantime, two other domestic PVC producers have followed suit and raised their offers by INR1000/ton ($12/ton) as of March 1 in tandem with the major producer.
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