Major Indian producer cuts domestic PVC offers

A major Indian producer has reduced PVC offers to the domestic market further with effect from September 14, traders said.

The Indian major notified customers of an INR4000/ton ($32/ton) price decrease on PVC, with the latest K67 offers reported at INR91,000/ton ($1194/ton) ex-warehouse, cash excl. VAT basis. The producer has also notified further discounts for higher volumes purchased.

This is the fifth price cut since the beginning of July, with the total decrease reaching INR26,500/ton ($334/ton).

Traders had expected a price reduction by the Indian producer, especially after a major Taiwanese producer issued price cuts on its October allocations.