Players: Indian producer raises local PVC prices
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.”
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