Philippine players: local PVC prices move higher
by ChemOrbis Editorial Team - content@chemorbis.com
Players in the Philippines reported that domestic PVC prices have moved higher on the back of higher spot ethylene costs and firmer regional trends. In Asia, spot ethylene prices jumped $125/ton week over week to reach $1380/ton CFR Northeast Asia, the highest level seen since October of 2014.
A pipe manufacturer reported that they received higher prices from a local producer at PHP50000/ton FD, cash inc VAT ($1006/ton without VAT). He stated, “We are not planning to purchase from the local market. Instead, we will wait to see new offers from Thailand.”
Another converter, who manufactures PVC sheets, reported purchasing 200 tons of PVC from the same producer at PHP50000/ton FD, cash inc VAT ($1006/ton without VAT). According to him, the producer’s new offer level indicates an increase of around PHP3000/ton ($67/ton) when compared to March. The buyer said, “Local supplies are sufficient while firmer upstream costs are pushing prices higher.”
According to a trader, a local producer raised their PVC prices by around PHP500/ton ($11/ton) to PHP48500-49000/ton FD Philippines, cash including VAT ($976-986/ton without VAT). “Demand remains stable while supplies are regular. We feel that local PVC prices still have room to move higher over the near term,” he commented.
A pipe manufacturer reported that they received higher prices from a local producer at PHP50000/ton FD, cash inc VAT ($1006/ton without VAT). He stated, “We are not planning to purchase from the local market. Instead, we will wait to see new offers from Thailand.”
Another converter, who manufactures PVC sheets, reported purchasing 200 tons of PVC from the same producer at PHP50000/ton FD, cash inc VAT ($1006/ton without VAT). According to him, the producer’s new offer level indicates an increase of around PHP3000/ton ($67/ton) when compared to March. The buyer said, “Local supplies are sufficient while firmer upstream costs are pushing prices higher.”
According to a trader, a local producer raised their PVC prices by around PHP500/ton ($11/ton) to PHP48500-49000/ton FD Philippines, cash including VAT ($976-986/ton without VAT). “Demand remains stable while supplies are regular. We feel that local PVC prices still have room to move higher over the near term,” he commented.
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