PVC outlook remains firm in China
A Shanghai-based trader commented, “Environmental inspections are taking place in Inner Mongolia and the 70th anniversary of the autonomous region’s establishment is also close. Producers are mostly having maintenances and supply levels are reduced, which resulted in PVC tightness in the market. We are holding positive expectations regarding the near term outlook.”
Another trader informed that local PVC prices continue to increase this week given low supplies coupled with the recent shutdowns, firmer futures and environmental inspections.
A trade in Hangzhou opined, “Acetylene and ethylene based PV C prices posted increases around CNY100-200/ton ($15-30/ton) from early this week. We think additional increases are on the way mainly due to low supplies, new shutdowns, environmental inspections and firmer futures.”
An ethylene based PVC producer stated that the ongoing environmental inspections, which are not likely to end soon, coupled with firmer futures are the main justifications of higher local PVC price as local demand is not supportive so far.”
An agent of an acetylene based PVC producer also said that producers mostly focus on selling to the local market, rather than exports, affirming the expectations about the sustainability of the firming trend.
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