Players: Indian producer raises local PVC prices
by ChemOrbis Editorial Team - content@chemorbis.com
Players in India report that a domestic producer raised their PVC prices to the local market by INR2000/ton ($32/ton) due to their limited supplies.
A trader reported that they received higher PVC k67 prices from the producer at INR58000-60000/ton ($917-948/ton) and at INR61500/ton ($972/ton) for PVC k58, both on an ex-warehouse India, cash basis. He commented, “The producer adjusted their prices upward by INR2000/ton, claiming that local supplies are tight. In addition to this, import cargoes are also firmer, with a major Taiwanese producer issuing increases last week. We think that producers are taking advantage of this supply situation while demand remains stagnant as converters are yet to return to the market.”
A second trader stated that they received new prices from the producer at INR57000-58000/ton ($901-917/ton) ex-warehouse India, cash. He stated, “PVC prices increased in India on the back of tight supplies. However, we are not feeling optimistic regarding the near term outlook and we expect to see further decreases.”
Meanwhile, a pipe manufacturer also confirmed that they were offered local PVC cargoes at higher levels of INR58000-59000/ton ($917-932/ton) ex-warehouse India, cash. The buyer said, “Domestic producers raised their prices due to limited supplies. However, demand for our end products remains sluggish. We think that the recent increases will last beyond the near term because of volatile upstream markets.”
A trader reported that they received higher PVC k67 prices from the producer at INR58000-60000/ton ($917-948/ton) and at INR61500/ton ($972/ton) for PVC k58, both on an ex-warehouse India, cash basis. He commented, “The producer adjusted their prices upward by INR2000/ton, claiming that local supplies are tight. In addition to this, import cargoes are also firmer, with a major Taiwanese producer issuing increases last week. We think that producers are taking advantage of this supply situation while demand remains stagnant as converters are yet to return to the market.”
A second trader stated that they received new prices from the producer at INR57000-58000/ton ($901-917/ton) ex-warehouse India, cash. He stated, “PVC prices increased in India on the back of tight supplies. However, we are not feeling optimistic regarding the near term outlook and we expect to see further decreases.”
Meanwhile, a pipe manufacturer also confirmed that they were offered local PVC cargoes at higher levels of INR58000-59000/ton ($917-932/ton) ex-warehouse India, cash. The buyer said, “Domestic producers raised their prices due to limited supplies. However, demand for our end products remains sluggish. We think that the recent increases will last beyond the near term because of volatile upstream markets.”
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Supply constraints spark stronger PE trend than PP in global markets
- ABS, PS uptrend falters in China after H1 2020 ends at multi-month highs
- Stats: China’s total PP imports spike in May; Vietnam and India’s rising shares shine out
- Tight supply drives HDPE, LLDPE gains in Southeast Asia
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East
