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PVC demand set to improve in March in global markets

  • 20/02/2017 (05:01)
March expectations started to emerge on the bullish side in global PVC markets. A Taiwanese major has recently announced March prices with increases of $30/ton to China and Southeast Asia and $40/ton to India, which are seeing acceptance on the buyers’ side as the producer was reportedly sold out.

PVC prices are expected to maintain their firming trend in the near term on the back of satisfactory demand in India and improving buying interest in Southeast Asia in line with the approaching summer season. Players are expressing their bullish expectations for March as the market activity is expected to increase in the construction and irrigation sectors.

Prior to the producer’s announcement, a distributor in India reported, “Downstream demand has already improved in line with the fading impact of the local currency’s demonetization. In our opinion, even larger increases than the previous month will be accepted for March as demand is improving and the peak season approaches.”

A similar situation is expected to occur in the Chinese PVC market in line with the expected improvement in replenishment activities now that the Chinese New Year holidays are over.

PVC demand in Europe was reported to be good on limited import flows as well as imminent cracker shutdowns. A source from a West European producer commented, “Demand has been very good and we are running our plant at full capacity to meet a surplus of orders. As for March, our expectations are bullish in line with the increasing global PVC markets.”

Sentiment for PVC remains firm over the near term based on supply constraints from Europe, hopes for a demand recovery by March and improving demand across the US.
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