Overseas PVC sellers concede to further discounts in China

After a major Taiwanese producer’s move to lower their May PVC offers to China by $160/ton due to bearish regional sentiment across Asia amid the key market India’s absence, several other suppliers have applied a similar pricing and even conceded to further discounts on deals.

A Chinese trader reported that they sold US PVC for May with $30-40/ton discounts from their initial offer levels at $590-600/ton CIF China, cash basis.

“Although our initial offer levels already declined $20/ton when compared to last week to $630/ton CIF cash basis, we accepted to give further discounts on deals. Still, some buyers have placed even lower bids at $580/ton CIF, but we have rejected,” he noted.

A Japanese producer also reported selling PVC for May shipment at $600-620/ton CIF China, cash basis, down by $30-50/ton from their initial offer levels.

“We have followed the footsteps of the major Taiwanese producer and cut our recent offers to China for May shipment notably by $90-100/ton from last week to $650/ton CIF. We were also willing to provide to additional discounts on our deals as sentiment for the import PVC was quite bearish,” a company source noted.

The overall PVC range for all origins is currently reported at $600-660/ton CIF China, cash basis. The range indicates weekly losses of $40-50/ton.