PVC demand from India remains good despite monsoon
Two PVC producers from Japan reported limited supplies due to the ongoing maintenance shutdowns. Sources from the company made similar comments, saying “Buying inquiries from Japan are still good although the monsoon season is still effective.”
Chinese producers, who have raised their export offers for the past two weeks, also reported good demand from India. “Although we have received many inquiries from India, we are not so eager to make offers due to longer payment terms and the high antidumping duties for acetylene based PVC in the country,” said a producer source.
A Mumbai based trader also commented, “All overseas suppliers sold out their July quotas in an instance as demand from India remains satisfactory.” Indeed, a Taiwanese producer has already come with an additional $20/ton increase for July shipments at $870/ton CIF India, cash.
Players are now expecting a Taiwanese major to come with higher prices for August. Expectations are calling for increases ranging from $10/ton to $30/ton. Limited availability from Japan, South Korea, China and the US are widely cited as reasons for firmer expectations on top of the satisfactory demand in India.
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