Players: local PVC prices edge down in Thailand, Indonesia
A source from an Indonesian producer reported that they lowered their domestic PVC offers by $100/ton to $900-980/ton FD Indonesia, cash, adding that offers on the low end of the range are valid only for customers purchasing at least 700 tons of material. The source stated, “We reduced our local prices due to declining spot ethylene prices. Plus, most buyers have retreated to the sidelines since the end of December because of volatile import prices. Despite our recent reductions, buyers are still asking for further discounts.”
In Asia, spot ethylene prices have lost around $195/ton since the start of December to be currently quoted at around $925/ton CFR Asia. According to ChemOrbis Price Wizard, spot naphtha prices on a CFR Japan basis are hovering around their lowest levels since May 2009, with spot prices currently quoted at around $440-445/ton.
Meanwhile, in Thailand, players reported that domestic producers also implemented reductions on their January prices. A distributor stated that their local supplier decreased their PVC prices by THB1500/ton ($46/ton) to THB31000/ton ($945/ton) FD Thailand, cash. He commented, “We believe that PVC prices are close to their bottom, although we are not feeling confident about the demand outlook for the near term.”
A pipe manufacturer reported that they received new offers from a local producer with a reduction of around THB2500/ton ($76/ton) at THB28700/ton ($875/ton) FD, cash. The buyer added that the producer is willing to give an additional discount of 1% if they pay cash.
A Thai compounder also reported that a local producer cut their PVC prices for January by THB2500-3000/ton ($76-92/ton) to THB28500/ton ($867/ton) FD, cash. He commented, “The producer is giving this level for quantities above 200 tons. We have just resumed our production after an 8-day shutdown.”
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